Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 11.1, Problem 3R
To determine
To analyze: The way in which test marketing increase the profits.
Expert Solution & Answer
Answer to Problem 3R
Test marketing is important as to how your product is doing in the market after distribution.
Explanation of Solution
Test marketing holds a lot of importance for the company. It allows the company to test their product in a small region so as to get an idea whether the product will work in a bigger market or not. Through this, the company can measure the performance of the product and can decide whether it should be released nationwide for sale. Through this, the company can estimate the earnings that can be earned through this product beforehand.
Economics Concept Introduction
Introduction:Test marketing means offering a product for sale in a small region to see if it will sell okay if offered nationwide.
Chapter 11 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 11.1 - Prob. 1RCh. 11.1 - Prob. 2RCh. 11.1 - Prob. 3RCh. 11.1 - Prob. 4RCh. 11.1 - Prob. 5RCh. 11.1 - Prob. 6RCh. 11.2 - Prob. 1RCh. 11.2 - Prob. 2RCh. 11.2 - Prob. 3RCh. 11.2 - Prob. 4R
Ch. 11.2 - Prob. 5RCh. 11.3 - Prob. 1RCh. 11.3 - Prob. 2RCh. 11.3 - Prob. 3RCh. 11.3 - Prob. 4RCh. 11 - Prob. 1AACh. 11 - Prob. 2AACh. 11 - Prob. 3AACh. 11 - Prob. 4AACh. 11 - Prob. 5AACh. 11 - Prob. 6AACh. 11 - Prob. 7AACh. 11 - Prob. 8AACh. 11 - Prob. 9AACh. 11 - Prob. 10AACh. 11 - Prob. 11AACh. 11 - Prob. 12AACh. 11 - Prob. 13AACh. 11 - Prob. 14AACh. 11 - Prob. 15AACh. 11 - Prob. 16AACh. 11 - Prob. 17AACh. 11 - Prob. 18AACh. 11 - Prob. 19AACh. 11 - Prob. 20AACh. 11 - Prob. 21AACh. 11 - Prob. 22AACh. 11 - Prob. 23AA
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