Test markets are which of the following type of experiment?
A)controlled experiment
B)exploratory experiment
C)field experiment
D)laboratory experiment
E)none of these

Question

Quizplus · Accepted Answer

Test markets are a type of field experiment where a product or service is introduced in a small geographical area to gauge its potential success before a full-scale launch. Test markets allow companies to gather real-world data on consumer behaviors, preferences, and reactions in a controlled setting, which makes them ideal for assessing the potential success of a new product or service.

Test Markets Are Which of the Following Type of Experiment