Simulated Test Markets

question 5

Multiple Choice

Simulated test markets:

• A) provide protection from competitors.
• B) are good for assessing trial and repeat purchase behavior.
• C) are slower than full-scale tests.
• D) are good for spotting weak products.
• E) a, b and d.

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Definitions:

Scaling

The process of adjusting the size, capacity, or scope of an operation or system to meet changing objectives or demands.

Innovation Process

A sequence of activities that begins with idea generation and proceeds to product development, market introduction, and ongoing improvement.

Experimenting

The process of conducting trials or tests to discover, verify, or establish information or principles.

Reverse Innovation

Reverse Innovation is a concept where goods or services developed as inexpensive models to meet the needs in developing countries are then adapted for sale in developed countries.