Because of the time, cost, and confidentiality problems of test markets, manufacturers often turn to:
A)trial idea generation
B)simulated test markets
C)synthetic consumer research
D)screening and evaluation

Question

Quizplus · Accepted Answer

Simulated test markets provide a cost-effective and efficient alternative to actual test markets. They use consumer panels and computer simulations to mimic the effects of a real-world marketplace, allowing manufacturers to observe consumer behavior without the high costs and logistics of setting up an actual test market. Simulated test markets also offer confidentiality and control over the testing environment, making them a popular choice for manufacturers.

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