Simulated test markets allow firms to obtain realistic evaluations of new products in "real world" settings while hiding their activities from competitors.

Question

Quizplus · Accepted Answer

Simulated test markets do not occur in "real world" settings; they are controlled environments designed to mimic real market conditions, and while they can offer some level of secrecy, they do not completely hide activities from competitors who may still learn about the tests through industry intelligence.

Simulated Test Markets Allow Firms to Obtain Realistic Evaluations of New