On the basis of the research it has gathered on consumer perceptions, the tests it has conducted, and competitive considerations, the XYZ firm confirms its target market (or markets) and decides how its product will be positioned. Then the firm finalizes the remaining marketing mix variables for the new product, including the marketing budget for the first year. This process illustrates
A) the product launch.
B) the company's evaluation of results.
C) premarket demonstrations.
D) alpha testing.
E) beta testing.

Question

Quizplus · Accepted Answer

This process illustrates the product launch, where the firm confirms its target market, positions the product, and finalizes the marketing mix, including the budget, before introducing the product to the market.

On the Basis of the Research It Has Gathered on Consumer