Because of the Time, Cost, and Confidentiality Problems of Test

question 20

Multiple Choice

Because of the time, cost, and confidentiality problems of test markets, manufacturers often turn to __________, a technique that simulates a full-scale test market but in a limited fashion.

• A)trial idea generation
• B)screening and evaluation
• C)virtual reality testing
• D)simulated test markets
• E)stylized test markets

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Definitions:

Opportunity Cost

The dismissal of prospective benefits from other opportunities by settling on one choice.

Microchip

A small semiconductor device containing integrated circuits used for various electronics and computing functions.

Tire(s)

Rubber-based components fitted around the rims of vehicle wheels to provide traction, support the vehicle load, and absorb shock from the road.

Autarky

A situation where a country or economy is self-sufficient and does not engage in international trade or relies on imports.