Which of the Following Is TRUE of Test Markets

question 63

Multiple Choice

Which of the following is TRUE of test markets?

• A) Simulated test markets are not useful for eliminating weak products before they go to a standard test market.
• B) Electronic test markets, popular in the 1970's, are now a declining segment of the test market industry.
• C) A prime advantage of simulated test markets is the protection from competitors that they provide.
• D) In a standardized test market the entire test program is conducted by an outside service.
• E) None of these statements are true; they are all false.

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Definitions:

Allele Frequencies

The relative frequencies of all the different alleles of a gene in a given population.

Genetic Drift

The process in which allele frequencies within a population change randomly with no influence from selective pressures, often affecting smaller populations more significantly.

Genetic Variation

The diversity in gene frequencies within a population, which is the raw material for evolution.

Hardy-Weinberg Equilibrium

The Hardy-Weinberg Equilibrium is a principle that states the genetic variation in a population will remain constant from one generation to the next in the absence of disturbing factors.