Because of the time, cost, and confidentiality problems of test markets, manufacturers often turn to __________, a technique that simulates a full-scale test market but in a limited fashion.
A)trial idea generation
B)screening and evaluation
C)virtual reality testing
D)simulated test markets
E)stylized test markets

Question

Quizplus · Accepted Answer

Simulated test markets are a technique that simulates a full-scale test market but in a limited fashion. This technique saves time, cost, and maintains confidentiality. In this method, a small group of people are selected and presented with a hypothetical product or situation to provide feedback, which is then analyzed to make decisions about the product's launch.

Because of the Time, Cost, and Confidentiality Problems of Test