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In which stage of new product development process, the product and marketing programmes are tested in realistic market settings?
  • a)
    Concept Development and Testing
  • b)
    Idea Screening
  • c)
    Test Marketing
  • d)
    Commercialisation
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
In which stage of new product development process, the product and mar...
At the test marketing stage of new product development process, the product and marketing programmes are tested in realistic market settings. Test marketing is an experiment conducted in a field laboratory (the test market) comprising of actual stores and real-life buying situations, without the buyers knowing they are participating in an evaluation exercise. It simulates the eventual market-mix to ascertain consumer reaction.
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In which stage of new product development process, the product and marketing programmes are tested in realistic market settings?a)Concept Development and Testingb)Idea Screeningc)Test Marketingd)CommercialisationCorrect answer is option 'C'. Can you explain this answer?
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