What typically happens in this method of market testing is that a firm first picks,say,two cities in which to sell the new product and two cities very similar to the first where the product is not sold.All four are watched closely and stocking and sales of the new product are audited.Identify the market testing method in discussion.
A)Test marketing
B)Informal selling
C)Simulated test market
D)Speculative sale

Question

Quizplus · Accepted Answer

The method described involves selecting specific cities to sell a new product and closely monitoring sales and stocking. This is a classic example of test marketing, which involves limited and controlled selling of a product in a particular geographic area to assess its viability and potential success before a full-scale launch. Therefore, option A) is the best choice for this question.

What Typically Happens in This Method of Market Testing Is