Offering a product for sale in a small geographic area to help evaluate potential market actions is called
A)a micro market.
B)a test market.
C)an experimental market.
D)a simulated market.
E)a trial market.

Question

Quizplus · Accepted Answer

A test market is specifically designed to offer a product for sale to a small geographic area to evaluate potential market actions. This approach allows companies to test their marketing strategies, packaging, pricing and product before launching it on a larger scale. It helps them evaluate the potential demand for the product, identify any shortcomings or issues, and make any necessary adjustments before launching it nationally or globally. Therefore, option B is the correct answer.

Offering a Product for Sale in a Small Geographic Area