Examlex
While market tests can give companies valuable information about the way the market will react to a product,a huge downside of market testing is that:
Judgment
The capability to reach reasoned decisions or sensible judgments.
Heuristic Thinking
A cognitive process that simplifies decision making by using practical methods or experiential rules of thumb, often at the cost of accuracy or thoroughness.
Elimination by Aspect Heuristic
A decision-making process where alternatives are discarded by systematically evaluating them against a set of criteria.
Error
A mistake or discrepancy caused by a failure in judgment, incorrect reasoning, or an oversight.
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