Yummy Peanut Butter has a new peanut butter and bacon product and finds a small number of representative test cities.The company plans to use the results to forecast national sales and profits.Yummy is using .
A)standard test markets
B)simulated test markets
C)controlled test markets
D)single- city test markets
E)random test markets

Question

Quizplus · Accepted Answer

Standard test markets involve selecting a small number of representative cities to test a new product and forecast national sales and profits. This fits with Yummy Peanut Butter's approach, as they are using a small number of cities to test their new product. Simulated test markets typically use data and simulations rather than actual test markets, controlled test markets involve carefully controlling and monitoring the market conditions, single-city test markets only use one city for testing, and random test markets do not involve selecting representative cities.

Yummy Peanut Butter Has a New Peanut Butter and Bacon