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 the above

Question

Quizplus · Accepted Answer

Test markets are a type of field experiment in which a company introduces a product or service in a limited geographic area and observes customer reactions and behavior. This allows the company to gather data and make informed decisions before launching the product or service on a larger scale. Test markets differ from laboratory experiments, which are conducted under controlled and artificial conditions, and exploratory experiments, which are more qualitative in nature and focus on generating new ideas and insights.

Test Markets Are Which of the Following Type of Experiment