[test] Which of the following statements about test marketing is most accurate?O Standard test markets are the least expensive and fastest type.O Test marketing is a risk-free way to expose potential customers to new products.O Simulated test markets are most likely to alert competitors to a firm's plans.O Test marketing is less common for consumer-packaged goods compared with other types of products.O The three main kinds of test markets are standard, controlled, and simulated.

A product idea might look very promising on paper while it may fail to impress the prospective…

Answered: [test] Which of the following…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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[grow] Products that are introduced, grow, decline, and later increase in sales again are said to have a product life cycle. O fad O fashion O eeneralized O high-learning O low-learning
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Test marketing plays an important role in providing an opportunity to test a new product or a new marketing plan under realistic market conditions to measure sales or profit potential. However, it is an expensive procedure because it involves so many aspepects , for instance, developing local distribution, arranging media coverage and monitoring sales results. Your boss is concerned about where to conduct Test marketing for the new product. describe a detailed presentation during staff meeting to explain what the company should consider before selecting where to conduct Test Market.
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