Correctly Selecting the Best Product
Abstract:
Product tests represent one of the cornerstones of marketing research. The tests involve many stages of preparation and planning, culminating in design, data collection and analysis. Experience suggests that many of the tests have as a goal the identification of one product, or a small subset of products, which is "best," in the sense of being most preferred or most likely to be purchased. However, a potential inconsistency exists between the goal of selecting the best product and the use of standard statistical tests to assess the significance of differences among products.
