Question
Ace Products Company conducted simulated test market research for its newest product, called Product 7. Participants were asked how likely they were to try Product
Ace Products Company conducted simulated test market research for its newest product, called "Product 7." Participants were asked how likely they were to try Product 7 if it were available. Responses fell out this way: 50% Very Likely 25% Likely 10% Neither Likely nor Unlikely 5% Unlikely 10% Very Unlikely Experience with prior product launches leads Ace to believe that only 72% of those choosing "Very Likely" will actually try, while only 29% of those choosing "Likely" will try. No other responders are expected to actually try the product. Calculate estimated trial rate for Product 7. Report answer as a percent. Report 25.5%, for example, as "25.5". Rounding: tenth of a percent.
MARKETING METRICS IS THE SUBJECT OF THE QUESTION.
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