hypothesis

Vocabulary Word

Definition

'Hypothesis' refers to an educated guess or prediction that you can test. It's meant to explain a particular phenomenon. It's often developed after observing something and then trying to figure out what might be causing it.

Examples in Different Contexts

In market research, a 'hypothesis' can guide data collection. A marketing manager might suggest, 'Our hypothesis is that our new ad campaign will boost sales by 20%.'

Practice Scenarios

Business

Scenario:

Our competitor is implementing a new pricing model and they are gaining more market share. Is there any potential strategy we could explore?

Response:

I think a good hypothesis would be that customers are drawn to their value proposition. We could test by adjusting our own pricing model.

Innovation

Scenario:

There seem to be multiple customer complaints about the user interface in our latest product. What can we do to enhance the user experience?

Response:

We can build a hypothesis that the issue lies in the lack of intuitiveness. A group of target users could help us test the interface's usability.