Which of the Following Describes a Process in Which Marketers

question 180

Multiple Choice

Which of the following describes a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?

• A) prototype testing
• B) concept testing
• C) test marketing
• D) competitive benchmarking

---

Definitions:

Marginal Cost Curve

A graphical representation that shows the change in the total cost of producing one more unit of a good.

Price Elasticity

The influence exerted by price variations on the demand level of a specific good quantified.

Price-Discriminate

The practice of charging different prices to different consumers for the same good or service, based on factors like location, buying habits, or willingness to pay.

Higher Prices

Typically the result of increased demand or reduced supply, leading to a rise in the cost of goods and services.