If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?
A) laboratory test market
B) concept test market
C) simulated test market
D) controlled test market
E) standard test market

Question

Quizplus · Accepted Answer

A controlled test market involves contracting with an external company like IRI to track sales and assess marketing tactics, providing a controlled environment for testing.

If a Firm Contracts with IRI, a Leading Test Market