Judicious application of concept tests to specific situations contributes not only to the success of the product but also to the success of the product manager. Recognizing respondent limitations helps product managers estimate risk of product failure as well as explain failure to higher...

Standard approaches to price decisions are normally illustrated as step‐by‐step developments that try to group pricing issues loosely into some format. These current approaches do not emphasize the interaction of consumer characteristics with the competitive environment of each market....