big investment both money and time its central focus is product specifications

Big investment both money and time its central focus

This preview shows page 8 out of 8 pages.

big investment, both money and time, its central focus is product specifications, physical characteristics, package designs, brand name decisionsOne or more versions are created keeping in mind that:To be perceived as possessing the described characteristicsHas to work safely under normal use conditions It can be produced according to projected costs Product testing Alfa tests: company employees and sometimes potential customers, try the product Beta tests: check the product with real consumers, give samples to be used under normal conditions during a pre-arranged period of timeGamma tests: product and marketing plan presentation to people and institutions implied Delta tests: check products that have been used for long periods of time Test MarketingConsumer productsStandard test markets: small number of citiesControlled test markets: controlled panels of stores which carry the new product for a feeSimulated test markets: conducted with a sample of consumers that are given money to buy after being shown ads and promotions Industrial goodsProduct-use testTrade showsStandard and controlled test marketsCommercializationMaking projected investments real, incurring in marketing and production expendituresAdjusting the marketing plan of action to the last pieces of informationEstablishing the control system (to know the evolution and facilitate readjustments)
Background image

You've reached the end of your free preview.

Want to read all 8 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes