The Maker of Lysol Disinfectant Tested Consumers' Reactions to Its

question 100

Multiple Choice

The maker of Lysol disinfectant tested consumers' reactions to its Lysol Sanitizing Wipes by getting consumers to look through a newspaper with grocery store ads, make out a grocery list, and then "shop" in a mock store filled with real products, including the new cleaning product. What is this an example of?

• A)a simulated (laboratory) market test
• B)a concept test
• C)a use test
• D)a juried consumer test

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Definitions:

Capital Budgeting

The process by which a business evaluates and selects long-term investments that are expected to yield returns over a period of time longer than one year.

Market Study

A comprehensive analysis of a market within a specific industry, including factors like competition, customer preferences, and potential for growth.

Subjective Cash Flow Estimates

Cash flow projections based on individual judgment rather than objective data, often influenced by personal experiences and expectations.

Product Quality

The characteristics of a product that allow it to meet consumers' expectations and fulfill their needs.