Simulated test markets (STMs)are often run in shopping malls where consumers are
A)asked how much a person is willing to pay for an unfamiliar item.
B)asked whether they saw the firm's advertising campaign.
C)questioned about how often they are likely to shop in that particular location.
D)asked to identify differences between the consumer's behavioral intention and actual behavior regarding a firm's new product.
E)shown the product or the product concept and are asked about usage,reasons for purchase,and important product attributes.

Question

Quizplus · Accepted Answer

To save time and money,companies often turn to simulated (or laboratory)test markets (STMs),a technique that somewhat replicates a full-scale test market.STMs are often run in shopping malls,to find consumers who use the product class being tested.Next,qualified participants are shown the product or the product concept and are asked about usage,reasons for purchase,and important product attributes.They then see the company's and competitors' ads for the test product.Finally,participants are given money and allowed to choose between buying the firm's product or the products of competitors from a real or simulated store environment.

Simulated Test Markets (STMs)are Often Run in Shopping Malls Where