ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To test the product and guarantee its success.
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To modify the product.
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To reduce costs.
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To stop the development of the product.
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Detailed explanation-1: -What’s the purpose of test marketing? Test marketing is used to ascertain various product uses, the class or category of users, and the motives that prompt the users or buyers. This helps organizations gauge the nature of general competitive situations, the latest trend in demand, etc.
Detailed explanation-2: -By testing random samples you can ensure that the entire batch is successful and free of any flaws. It is always better to know that each batch of products you are sending out into the market is well-made. Moreover, it’s essential to ensure that the products you ship out will meet customer expectations.
Detailed explanation-3: -Businesses use product testing to gather qualitative and quantitative data about consumers’ potential usage/consumption behavior, preferences, and reactions to a product. There are various reasons brands do so before launching a new product.