The Primary Goal of a Test Market Is To

question 17

Multiple Choice

The primary goal of a test market is to:

• A)evaluate and adjust the general marketing strategy to be used and the appropriate marketing mix.
• B)place emphasis on the organizational structure and management talent needed to implement a marketing strategy.
• C)evaluate the product plan from the standpoint of engineering,manufacturing,finance,and marketing.
• D)increase frequency of consumption or increase the number of customers using the firm's product(s).

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Definitions:

Required Reserves

The least amount of money that a bank is required to keep on hand as a safeguard for deposits, in compliance with the rules set by central bank authorities.

Demand Deposits

Bank account funds that are available on demand without any delay or penalties, like those in checking accounts.

Excess Reserves

The reserves held by a bank in excess of the minimum reserve requirements set by central banking authorities.

Required Reserves

The minimum amount of reserves that banks are required to hold by law, as a safeguard against bank runs.