May Safe Solutions (MSS) Inc. is on the verge of launching a new security alarm systems for homes. Before the commercialization of the product, the marketing team of the company contacts a few customers, describes the product to them, answers queries on its functioning, negotiates price, and then asks the customers if they would actually buy the product if it was available in the market. Which of the following methods of market testing is MSS Inc. applying in this scenario?
A) Minimarketing
B) Controlled sale
C) Test marketing
D) Speculative sale

Question

Quizplus · Accepted Answer

This scenario describes a speculative sale, where the company is gauging customer interest and willingness to purchase a product before it is officially launched or available in the market.