Which of the Following Describes a Standard Test Market

question 91

Multiple Choice

Which of the following describes a standard test market?

• A)It is one in which the firm tests the product or marketing-mix variables through the company's normal distribution channels.
• B)It is conducted by outside research firms that guarantee distribution of the product through prespecified types and numbers of distributors.
• C)It includes a panel of consumers that has agreed to carry identification cards that each consumer presents when buying goods and services.
• D)A limited amount of data on consumer response to a new product is fed into a model containing certain assumptions regarding planned marketing programs, which generates likely product sales volume.
• E)none of the above

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Definitions:

Logging Companies

Businesses involved in the cutting down, processing, and selling of trees for timber or pulp.

Biodiversity Hotspot

Biogeographic region that is a significant reservoir of endemic biodiversity and is threatened with continued habitat destruction.

Endemic Species

Localized, native species that are not found anywhere else in the world. Compare with cosmopolitan species.

Human Population

The total number of humans currently living on Earth, which is subject to change due to birth, death, and migration rates.