Question

Define the term pilot study and explain the benefits/importance of conducting a pilot study.

Answer 1

Pilot study is the study of the behaviour of the various customers and other market participants when the product will be launched in the market by taking a free trial run of these products and this pilot study would be trying to establish relationship between various companies by giving an opportunity to test themselves before the final launch.

Benefits of pilot study are as follows-

A.it will help in testing the validity of the study of an individual and implications of these studies.

B. It will be providing a genuine insight about the true scope of the project

C.it will be helpful in providing a large amount of practice to the company before the launching of the product

D.it will also help to know whether the product is ready to be launched in the market or it will be needing updates