Subject: Marketing With Technology Approximately 60% of new ventures fail becaus
Subject: Marketing With Technology
Approximately 60% of new ventures fail because of bad marketing decisions. A careful low-cost marketing research can help new ventures make right marketing decisions. In particular, companies with new offerings do not test enough to assure that a product is an appealing concept to enough customers.
Concept testing is a research technique that checks whether the prospective purchaser and/or user of a new product-offering bundle understands the product/service idea, feels that it answers a need, and would be willing to purchase and/or use it. Concept testing is basically a set of procedures in which potential customers are exposed to a product or service concept and are asked for their reactions to it. LINEPASS is an easy-to-use Wireless Reservation System for theme park attractions. Visitors receive small personal terminal devices when they buy tickets at the entrance. The personal devices are linked to a server through FM transmitters.
Write a 2- to 3-page marketing research plan related to the concept testing of LINEPASS.
Use the Week 5 Assignment Document as a guide.
The guide is attached to the order below.