McCormick's Marketing Team Wants to Test Three Different Advertisements for Its

question 108

Multiple Choice

McCormick's marketing team wants to test three different advertisements for its new Chicken Dijon gravy before they launch the product nationwide. To measure actual market reaction, the best approach would be to:

• A)use the ads in three different markets and use ad tracking research to measure the impact.
• B)use different test markets for each of the three ads and compare the actual sales differences among the three markets.
• C)place the three ads in a theater test and measure the audience reaction.
• D)count the number of times the brand name or specific product is mentioned in the media after each ad has run.

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Definitions:

Quota Rent

Extra income earned by producers who benefit from an import quota, as it raises the market price of their goods.

Demand Price

The price at which consumers are willing to buy a specific quantity of a good or service at a given time.

Supply Price

The minimum price at which a producer is willing to sell a particular quantity of a good or service.

Price Ceiling

A legal maximum price that can be charged for a good or service.