Full-Scale Market Tests

question 226

Multiple Choice

Full-scale market tests:

• A) Are unrealistic because they do not test the whole marketing mix.
• B) Are not expensive.
• C) Should always be skipped if management is sure that it understands consumer preferences.
• D) May provide information to competitors.
• E) Are used mostly for products that have high production costs and long lead times.

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Definitions:

Margin Of Error

An expression of the amount of random sampling error in a survey's results, indicating a range within which the true value lies with a specified confidence level.

Equal Sample Sizes

A condition in experimental design where all groups being compared have the same number of observations or participants.

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding or conclusion.

Type II Error

A statistical error in which a false null hypothesis is not rejected, also known as a 'false negative'.