Which of the following describes a simulated test market?
A)It is one in which the firm tests the product or marketing-mix variables through the company's normal distribution channels.
B)It is conducted by outside research firms that guarantee distribution of the product through prespecified types and numbers of distributors.
C)It includes a panel of consumers that has agreed to carry identification cards that each consumer presents when buying goods and services.
D)A limited amount of data on consumer response to a new product is fed into a model containing certain assumptions regarding planned marketing programs, which generates likely product sales volume.
E)none of the above

Question

Quizplus · Accepted Answer

A simulated test market involves feeding a limited amount of data on consumer response to a new product into a model containing certain assumptions regarding planned marketing programs, which generates likely product sales volume. This type of test market is often used because it is less expensive and less time-consuming than a full-scale market test.

Which of the Following Describes a Simulated Test Market