Differentiate between controlled test markets and simulated test markets
What will be an ideal response?
In controlled test markets, new products and tactics are tested among controlled panels of shoppers and stores. Using simulated test markets, researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated online shopping environments. Both controlled test markets and simulated test markets reduce the costs of test marketing and speed up the process.
You might also like to view...
As Walmart extends its reach around the globe, some observers are very skeptical and consider it as an "assault" or "invasion." Using Walmart in India as an example discuss all impacting factors
What will be an ideal response?
The stages in the marketing research process must be done sequentially
Indicate whether the statement is true or false