How Can a Firm Use a Test Market in Its

question 267

Essay

How can a firm use a test market in its new-product development process?

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Definitions:

BPR

Business Process Reengineering, which is the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality.

Effectiveness

The degree to which something is successful in producing a desired result or outcome.

NBA

National Basketball Association, a professional basketball league in North America composed of 30 teams.

Social Media

Platforms and websites that enable users to create and share content or to participate in social networking.