GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Test the market with consumers
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Test consumers with the product
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Introduce product in open market
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Predict product’s performance and its future
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Detailed explanation-1: -Test marketing is a method that aims to explore consumer response to a product or marketing campaign by making it available on a limited basis to test markets before a wider release. It’s important to note that customers exposed to the product or campaign may be part of a test group without the customers’ knowledge.
Detailed explanation-2: -Test marketing is a tool used by companies to provide insight into the probable market success of a new product or effectiveness of a marketing campaign.
Detailed explanation-3: -Test marketing is the final stage before commercialization; the objective is to test all the variables in the marketing plan including elements of the product. Test marketing represents an actual launching of the total marketing program, done on a limited basis.
Detailed explanation-4: -Test Marketing: This is the penultimate stage of the new product development process and involves testing the product and its suggested marketing program in realistic market settings.