Simulated Test Markets (STMs) Are Often Run in Shopping Malls

question 354

Multiple Choice

Simulated test markets (STMs) are often run in shopping malls where consumers are

• A)asked how much a person is willing to pay for an unfamiliar item.
• B)asked whether they saw the firm's advertising campaign.
• C)questioned about how often they are likely to shop in that particular location.
• D)asked to identify differences between the consumer's behavioral intention and actual behavior regarding a firm's new product.
• E)questioned to identify product users and their likely consumption and media patterns.

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Definitions:

Legitimate Power Base

A source of influence based on the formal authority one holds within an organization's structure or society's laws.

Emulate

To mimic or imitate with the intent of matching or surpassing the original.

Believe In

To have confidence or faith in the truth, existence, or reliability of something, often without absolute proof.

Informal Power Base

Influence and authority gained through personal connections, charisma, or knowledge, rather than through formal position or role.