The Form of Market Testing Conducted by Firms Before a Newly

question 102

Multiple Choice

The form of market testing conducted by firms before a newly developed product or service is brought to the market to determine how many customers will try it and then continue to use it is known as:

• A)premarket testing.
• B)alpha testing.
• C)beta testing.
• D)concept testing.
• E)hypothesis testing.

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Definitions:

Instrumental Value

The worth or usefulness of something based on its ability to help achieve an end or a goal.

U.S. Managers

Individuals in managerial positions within companies based in the United States, responsible for directing and overseeing the operations and strategic planning of their respective organizations.

Abstract Ideals

Principles or concepts that exist in thought or as an idea without having a physical or concrete existence.

Cultural Norms

Cultural norms are the shared expectations and rules that guide behavior of people within social groups.