What is Concept Testing Strategy Development?
Test Marketing:
Throughout this stage the product is in fact tried out in selected Market Segments only based upon the results of test Marketing will be a marketer and manufacturer generally launch huge scale manufacturers of the new products. This marketing is a form of business errors. This is a controlled marketing experiment along with minimum possible cost and risk to decide upon the feasibility and soundness of full-fledged marketing of the product. When totally new products are introduced within a market onto commercial scale in that case it is without resorting the test marketing. This may so come to light which the product was not the correct one for the chosen market. It may be too costly a mistake for the firm Test Marketing. Within such a case may indicate which too sales prospects for the product is bound to be poor as well as the firm may opt. to drop the new product concept and save the investment contrary to that when results are received positive the firm may go ahead along with marketing and commercial production of the new products.