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What is the purpose of test marketing in New Product Development?
  • a)
    To finalize the product design
  • b)
    To gather customer feedback on the prototype
  • c)
    To introduce the product to the market
  • d)
    To analyze competition's products
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
What is the purpose of test marketing in New Product Development?a)To ...
Test marketing involves introducing the actual prototype of the product to a small group of customers in the target market. The purpose is to gather real customer feedback and insights on the product's performance, features, and any necessary improvements before the full launch. This helps the company refine the product based on customer input.
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