A Test Market That Uses a Virtual Shopping Experience to Give

question 70

Multiple Choice

A test market that uses a virtual shopping experience to give customers a chance to buy the product (or not) is called a test market.

• A) simulated
• B) area
• C) electronic
• D) computerized

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Definitions:

Value Map

A tool used to compare the value delivered by different products or services in the marketplace from the perspective of the customer.

Product's Cost

The total expense incurred in manufacturing, marketing, and distributing a product to the end user.

Mass Marketing

A strategy that aims to appeal to a large, broad audience by targeting the average consumer with general advertising messages.

Differentiation Strategy

A business approach where a company seeks to distinguish its products or services from competitors through unique features.