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Outline the pros and cons of test marketing in new product development stages.

Outline the pros and cons of test marketing in new product development stages.

Answers

Lellah
Pros
• Lessens the risk of product failure.
• Reduces the risk of loss of credibility or undercutting a profitable product.
• Can determine the weaknesses in the MM and make adjustments.
• Can also vary parts of the MM during the test market.
• Need to select the appropriate MM and check the validity.
Cons :
• Test market is expensive.
• Firm's competitors may interfere.
• Competitors may copy the product and rush it out.
Lellah answered the question on November 5, 2021 at 11:14

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