Many firms consider test marketing to be the ultimate measure of market potential for their products.

Question

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Test marketing typically involves launching a product in a limited geographic area or target market to assess its viability and acceptance before a full-scale launch. It can provide valuable insights into consumer behavior, preferences, and demand, which can help firms determine the potential success of their products in the broader market. Therefore, for many firms, test marketing is a critical step in developing and launching a successful product.

Many Firms Consider Test Marketing to Be the Ultimate Measure