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If a Firm Contracts with IRI, a Leading Test Market

question 189

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If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?


Definitions:

Scheduling System

A method or software used for planning and organizing appointments, tasks, or operations in an efficient manner.

Substitute Physician

A medical doctor who temporarily fills in for another physician, often referred to as a locum tenens.

Locum Tenens

A person who temporarily fulfills the duties of another; specifically, a physician or clergyman acting temporarily for another.

Res Ipsa Loquitur

Latin, meaning “the thing speaks for itself,” which is also known as the doctrine of common knowledge.

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