The process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources is known as test marketing.

Question

Quizplus · Accepted Answer

The process described is known as exploratory research, which is used to gather preliminary information that will help define problems and suggest hypotheses. Test marketing, on the other hand, involves introducing a product or service in a limited area to measure the viability of a marketing strategy or product before a wider launch.

The Process of Discussing a Marketing Problem with Informed Sources