Test Marketing Involves Offering a Product for Sale

question 243

Multiple Choice

Test marketing involves offering a product for sale

• A)to random sample of people in the top ten major cities of the U.S.
• B)in as broad a geographic region as possible.
• C)to consumers that are representative of the target market.
• D)on a limited basis in a defined area.
• E)only on certain days of the week and hours of the day.

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Definitions:

Product/Supplies Revenues

Income generated from the sale of goods, products, or supplies by businesses to consumers or other businesses.

Exclusive Territory

A designated geographical area in which a sales representative or distributor is given the sole right to sell a product.

Franchise Agreement

A franchise agreement is a legal, binding contract between a franchisor and franchisee, outlining the terms and conditions for the franchisee to operate a franchised business, including use of trademarks, operational guidelines, and financial obligations.

Renewal

The process of extending the term of an agreement, updating or refurbishing something, or restoring vitality to an idea, building, or system.