Western Governors University (WGU) BUS2080 D081 Innovative and Strategic Thinking - Practice Test

To assess whether a new product will generate customer interest as identified in a SWOT analysis, the most effective action is to conduct market research. Market research allows the business owner to gather relevant information about potential customers, their preferences, and the competitive landscape. This helps in understanding whether there is a demand for the product and how it might be received in the market.

Testing viability, while important, is a broader concept that could refer to various analyses including financial projections, technical feasibility, or market potential. Conducting market research specifically focuses on customer interest, which is crucial for validating the initial assumptions made during the SWOT analysis.

Launching a marketing campaign before confirming customer interest can lead to unnecessary expenses if the product does not meet market needs. Developing a business plan is also important but comes after understanding the market demand; it should ideally include the findings from market research.

By prioritizing market research, the business owner is equipped with the necessary insights to make informed decisions about product launch and marketing strategies.