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Discuss and compare the advantages and disadvantages of survey methods and test marketing.
Coca-Cola Company introduced New Coke largely because of Pepsi’s success in taste tests head to head with Coke Classic.
Consider the following hypothetical information: (1) In blind taste tests, 58 percent of subjects preferred Pepsi to Coke Classic; (2) in similar tests, 58 percent of subjects preferred the taste of New Coke to Pepsi. From these findings, what can Coca-Cola’s management conclude about consumers’ preferences between Coke Classic and New Coke?
Consider the following preference rankings of three different types of consumers A, B, and C:
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