Business, 27.07.2019 18:00 dmfraley01

The objective of test marketing is a. to implement simultaneous product development. b. to shorten the development process of a product and reduce costs. c. to evaluate a new-product idea before any prototype has been created d. to determine the reactions of potential customers in a market situation.

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Answer from: emiliestinnett

The right answer to the problem is d) To determine the reaction of potential customers in a market situation.

Further explanation

Ideally, all products before they are widely launched do market tests first. The main purpose of the market test is to see the response and effectiveness of the marketing strategies applied. Market tests are mainly carried out for new products and existing products that are modified or improved.

The advantages of the market test are quite a lot, including measuring the market response to the products offered. Likewise, if faced with several problems, the problem can be localized, thereby helping to minimize risk. The market test also gave the marketing team time to prepare for the launch in even greater reach. With market tests, the marketing team has learned the characteristics of the product and the target market. This will shorten the "learning curve" if the launch is later done on a larger scale.

Besides the advantages, of course there are disadvantages. In addition to requiring time, it is also feared to be copied by competitors so that the pioneers will lose momentum. Other losses if done in a long time (for example more than 6 months) will make the marketing budget inefficient. Therefore, conduct an in-depth survey before the product is launched. If it has been done, we need a market test if we are not sure of some aspects of marketing that will be applied. And don't forget to limit the market test time and determine the criteria for success or failure of the market test. Don't let the market test drag on without a clear time limit.

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Marketing strategy

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CLass: High School

Subject: Business

Keyword: Market test.

Answer from: Quest

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Answer from: Quest

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