Test Marketing
...sses and faults the product experiences. [1] Purpose of Test Marketing: The purpose of test marketing is to provide beneficial information about the product’s success in the marketplace. Test marketing measures consumers’ responses to the product’s marketing strategy and the communication plan. The marketing strategy concerns how the product invites customers. The communication plan initiates the package development, advertising and media mix which feeds directly into the marketing mix. Market testing evaluates not only the product’s potential success but also determines how to market the product. Company managers analyze the product’s prospective nation-wide success from the data collected. [1] Test Marketing drawback Test periods often extend longer than necessary producing missed opportunities and lost revenues. Every month spent testing bypasses potential income. The marketplace frequently changes during test periods often leaving the test results outdated and inadequate. Sometimes as Marketers need to get their products to the marketplace faster and faster and they are concerned that test m...