Introducing a new product into the market is called ________.
A)test marketing
B)segmentation
C)experimenting
D)commercialization
E)market penetration

Question

Quizplus · Accepted Answer

Commercialization is the process of introducing a new product into the market. It involves producing and launching the product, as well as promoting and selling it to the target audience. Test marketing is a part of the commercialization process, where a small group of people is selected to try the product before it is launched to the general public. Segmentation is the process of dividing the market into smaller groups based on similar needs, preferences, or characteristics. Experimenting is a broader term that can refer to any kind of testing or trial in order to gather information or insights. Market penetration refers to the strategy of increasing a company's market share by selling more of its existing products to its current customers or to new customers in its current market.

Introducing a New Product into the Market Is Called ________