Test Marketing Homework Help
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What is Test Marketing? Test Marketing is used by the companies to evaluate the success of market for new products. Test marketing is used to evaluate the product’s performance and about the customer’s satisfaction. It also helps in knowing about the distribution requirements. For more details on the usage of test marketing as a tool by the companies, visit us at helpmeinhomework and take the advantage of our Test Marketing homework help.
Types of Test Marketing- three common kinds of test marketing can be categorized as-
Sometimes it happens that a business wants their product to get tested by a group before sending it to the whole market. This helps them to get the reviews of that group about the product. If any necessary changes have to make, they change it accordingly. Thus, before launching a product if it is tested by a group for their feedback, then it is called Beta testing.
- Regional launch–
It simply means to restrict the launch of a product to a specific area or region. This saves money as the product is launched to the area where the demand for the product is thought to be more. For this, one should find the region which matches with the target audience for the product.
- Direct Marketing–
It can be considered as the safest way of testing as the competitors will not get a hint of the marketing strategies. It allows testing many variables like approaches, method of response, and timing of marketing activities and so on.
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Aims of test marketing- The main aim of test marketing is to gather information about the elements of marketing mix. The elements of marketing mix are-
- The product
- Promotional message
- Channels of distribution
- Price of product
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Advantages of test marketing-
- Help in getting views of customers
- Reduces the risk of product failure
- Examine the marketing mix
- Helps in promoting the product
- Minimizes the risk of full-scale launch of product
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Disadvantages of test marketing-
- Fear of inappropriate decision
- Danger of negative responses before full launch
- Delay in launching product
- Can be costly to administer
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