FIRST INSIGHT EXAM QUESTIONS WITH
CORRECT ANSWERS
Most retailers and brands make new product decisions based on historical data
or in store testing. As a result, over ________ of new products fail. First
Insight's world leading solution - Insight Suite - provides real time predictive
information on products that have no sales history. The process is simple. You
grow margins by buying more winning products and by eliminating poor
performers early in the design and selection process.
A. 70%
B. 30%
C. 50%
D. 25% - ANSWER 50%
First Insight partners with retailers and manufacturers to eliminate the high cost
of new product failures by enabling them to design, select and optimally price
winning new products. First Insight's approach also enables clients to determine
optimal entry price points and forecast average unit retail (A.U.R.) prices
______________ products hit the market. First Insight helps retailers identify
winning new products and design elements _______________ investment
decisions are made. (same answer for both blanks)
A. After
B. Before
C. While
D. All of the above - ANSWER b. before
First Insight offers the world's only forward looking predictive analytic
platform, Insight Suite, which enables retailers and manufacturers to
_________________________ and buy new products with no sales history.
A. Discuss, Examine and Execute
B. Review, Revise and Eliminate
C. Collect, Calculate and Cancel
D. Select, Price and Target - ANSWER D. Select, Price and Target
. First Insight's application is not market research. First Insight delivers
actionable results in as little as 24 hours, providing guidance on the
, performance of 100s of items at any single time. The data is based on
scientifically proven analytics that retailers use to accurately predict future
behavior and the guidance is actionable - offering clear product rankings, AUR
forecasts, segmented results, etc. First Insight uses four capabilities to achieve
these results, which are they?
A. Plan, Executive, Review and Publish
B. Build, Analyze, Review and Execute
C. Research, Speed, Publish and Condense
D. Speed, Scale, Science and Results - ANSWER D. Speed, Scale, Science
and Results
Insight ____________ delivers clear guidance on which products will perform
well in the marketplace, so retailers and manufacturers can make investment
decisions with confidence, modify new designs early in the design development
process to improve performance as well as learning about which attributes will
resonate best with customers in the months ahead, and identify trends at an item
and category level.
A. Selection
B. Analysis
C. Collection
D. None of the above - ANSWER a. selection
This enables marketers to identify the optimal customer profile for products that
are new to the market or new to a retailer's assortment. You can identify the
specific products that will resonate the most with each customer segment,
determine optimal pricing and promotional strategies for the products and
address strategic questions about your customers, such as how they perceive
your brand, why they buy and where and how they shop.
A. Insight-Targeting
B. Insight-Plan
C. Insight-Intuition
D. Insight-Oversight - ANSWER A. Insight-Targeting
Insight ____________ enables retailers and brands to determine optimal entry
points and forecast average unit retail (AUR) before products hit the market.
Retailers and brands can quickly quantify market demand for an item at various
points, forecast AUR by viewing elasticity curves for each new product before
CORRECT ANSWERS
Most retailers and brands make new product decisions based on historical data
or in store testing. As a result, over ________ of new products fail. First
Insight's world leading solution - Insight Suite - provides real time predictive
information on products that have no sales history. The process is simple. You
grow margins by buying more winning products and by eliminating poor
performers early in the design and selection process.
A. 70%
B. 30%
C. 50%
D. 25% - ANSWER 50%
First Insight partners with retailers and manufacturers to eliminate the high cost
of new product failures by enabling them to design, select and optimally price
winning new products. First Insight's approach also enables clients to determine
optimal entry price points and forecast average unit retail (A.U.R.) prices
______________ products hit the market. First Insight helps retailers identify
winning new products and design elements _______________ investment
decisions are made. (same answer for both blanks)
A. After
B. Before
C. While
D. All of the above - ANSWER b. before
First Insight offers the world's only forward looking predictive analytic
platform, Insight Suite, which enables retailers and manufacturers to
_________________________ and buy new products with no sales history.
A. Discuss, Examine and Execute
B. Review, Revise and Eliminate
C. Collect, Calculate and Cancel
D. Select, Price and Target - ANSWER D. Select, Price and Target
. First Insight's application is not market research. First Insight delivers
actionable results in as little as 24 hours, providing guidance on the
, performance of 100s of items at any single time. The data is based on
scientifically proven analytics that retailers use to accurately predict future
behavior and the guidance is actionable - offering clear product rankings, AUR
forecasts, segmented results, etc. First Insight uses four capabilities to achieve
these results, which are they?
A. Plan, Executive, Review and Publish
B. Build, Analyze, Review and Execute
C. Research, Speed, Publish and Condense
D. Speed, Scale, Science and Results - ANSWER D. Speed, Scale, Science
and Results
Insight ____________ delivers clear guidance on which products will perform
well in the marketplace, so retailers and manufacturers can make investment
decisions with confidence, modify new designs early in the design development
process to improve performance as well as learning about which attributes will
resonate best with customers in the months ahead, and identify trends at an item
and category level.
A. Selection
B. Analysis
C. Collection
D. None of the above - ANSWER a. selection
This enables marketers to identify the optimal customer profile for products that
are new to the market or new to a retailer's assortment. You can identify the
specific products that will resonate the most with each customer segment,
determine optimal pricing and promotional strategies for the products and
address strategic questions about your customers, such as how they perceive
your brand, why they buy and where and how they shop.
A. Insight-Targeting
B. Insight-Plan
C. Insight-Intuition
D. Insight-Oversight - ANSWER A. Insight-Targeting
Insight ____________ enables retailers and brands to determine optimal entry
points and forecast average unit retail (AUR) before products hit the market.
Retailers and brands can quickly quantify market demand for an item at various
points, forecast AUR by viewing elasticity curves for each new product before
