If a Firm Used IRI's BehaviorScan Service to Track Sales

question 3

Multiple Choice

If a firm used IRI's BehaviorScan service to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics,what type of test market is this?

• A)laboratory test market
• B)concept test market
• C)simulated test market
• D)controlled test market
• E)standard test market

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Definitions:

Economic Growth

A growth in an economy's ability to produce goods and services when comparing one time period to another.

Outward Shift

A movement of a curve away from the origin on a graph, typically indicating an increase in supply or demand.

Comparative Advantage

The proficiency of an individual or group in executing a certain economic function more effectively than other tasks.

Lowest Cost

The scenario in which the expenditure required to achieve a certain objective or to purchase goods and services is minimized.