Which Statement Is Not True About Simulated Test Markets

question 20

Multiple Choice

Which statement is not true about simulated test markets?

• A)While a firm's test marketing is in progress,competitors have an opportunity to beat it to the national market.
• B)Competitors often take actions such as increasing their promotional efforts to contaminate the test marketing program.
• C)Both A and B are not true about simulated test markets.
• D)They yield mathematical estimates of market share based on initial reaction of consumers to a new product.

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Definitions:

Prototyping

An approach that defines an initial list of user requirements, builds a prototype system, and then improves the system in several iterations based on users’ feedback.

Ill-defined Problems

Refer to complex issues without clear solutions or boundaries, often encountered in real-world scenarios.

Real-world Entities

Refers to objects, events, and concepts that exist physically or logically in the world, and can include people, buildings, concepts, and more.

Rapid Iterations

An approach in project management and software development where processes are repeated in quick succession to allow for fast feedback and refinements.