Consumer perception and product formulation
D. B. Learner
The notion that a product formulation includes a wide variety of elements beyond its chemistry, such as price, package, advertising and promotions, is established. The combination of these elements suggests that a "product" is, in fact, a package of information that is perceived by the consumer. Thus the individual differences of consumer' behavior and expectations determines, in part, how well a product will be accepted in the market. Approaches that determine which product element is likely to improve consumer acceptance are reviewed. Other methods useful for controlling and monitoring changes in such acceptance, are also presented. Market research methods for auditing consumer responses are discussed in the context of, their development, from the laboratory to their use in the market place.