Which of the Following Statements About Prototypes Is False

question 47

Multiple Choice

Which of the following statements about prototypes is false?

• A)Once the prototype is developed and tested,the product is ready for test marketing.
• B)Small businesses,for financial reasons,primarily choose smaller local markets and conduct fewer tests than their larger counterparts.
• C)Standard test marketing introduces the product and the marketing strategy in the simulated environment.
• D)If you are not in business or are in a very different business,test marketing services are very difficult.

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Definitions:

Target Return

A pricing strategy that sets the price point based on a predetermined return on investment or desired profit margin.

Profit Goal

A specific, quantifiable financial objective set by a business, aiming to achieve a particular level of profit within a defined period.

Pricing Objectives

Goals that a company wants to achieve through the pricing of its products, such as maximizing profit, increasing market share, or deterring competition.

Market Share

The portion of a market controlled by a particular company, measured by sales volume or revenue.