Which of the following statements are correct about test marketing?
A)Products being test marketed should be produced in large numbers to minimize production costs.
B)Test marketing involves observing sales results in one market and using the results to forecast sales in other markets or the whole market.
C)Products that take a long time to gain consumer awareness and usage are excellent candidates for test marketing.
D)While test marketing is a good sales forecasting technique,other techniques are more accurate.
E)None of these is correct statements about test marketing.

Question

Quizplus · Accepted Answer

Test marketing involves observing sales results in one market and using the results to forecast sales in other markets or the whole market. Option A is incorrect as large-scale production is not necessary for test marketing. Option C is incorrect as products that take a long time to gain consumer awareness and usage are not suitable for test marketing. Option D is incorrect as test marketing is considered one of the most accurate sales forecasting techniques. Option E is incorrect as option B is correct.

Which of the Following Statements Are Correct About Test Marketing