Which of the Following Statements About Test Marketing Is Most

question 69

Multiple Choice

Which of the following statements about test marketing is most accurate?

• A) Test marketing is less common for consumer packaged goods compared with other types of products.
• B) Test marketing is a risk-free way to expose potential customers to new products.
• C) The three main kinds of test markets are standard, controlled, and simulated.
• D) Simulated test markets are most likely to alert competitors to a firm's plans.
• E) Standard test markets are the least expensive and fastest type.

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Definitions:

Z

Often referred to as the Z-score, which is a statistical measure that describes a value's relationship to the mean of a group of values.

Normal Probability Distribution

A statistical function that describes all the possible values and likelihoods that a random variable can take within a given range, characterized by its bell-shaped curve, symmetric about the mean.

Standard Deviation

A statistical metric that quantifies the dispersion or variability of a dataset relative to its mean.

Mean

The average of a set of numbers, calculated by dividing the sum of the values by the number of values.