TEST MARKETING

research engaged in to evaluate consumer responses to new products, costs, or alternatives. Companies frequently try to employ this research privately so that competing companies are not privy to any possible alterations. Based on outcomes of test marketing, products might be introduced, altered, or completely foregone all together.

TEST MARKETING: "Test marketing is vital to a product's success."
Cite this page: N., Pam M.S., "TEST MARKETING," in PsychologyDictionary.org, April 29, 2013, https://psychologydictionary.org/test-marketing/ (accessed October 21, 2020).
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