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karamvir19 karamvir19
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Explain how a firm conducts test marketing for a new product.
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Business in Action

Business in Action


Edition: 9th
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Akabbett1Akabbett1
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During test marketing, the firm introduces the product in selected markets and monitors consumer reactions. Test marketing gives the marketer experience with marketing the product before going to the expense of a full introduction. For instance, producers of television programs can test shows in local or regional markets to gauge viewer appeal before going nationwide. Companies can also release products early to get feedback from potential customers before finalizing features and functions. Software developers often do so through beta versions. Test marketing can be expensive and time consuming, however, so not all companies choose to take this step with every new product.

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