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Market test
MARKET TEST

Definition: (business) If a company carries out a market test, it asks a group of people to try a new product or service and give their opinions on it.
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* All seven elements would be in.


1. Purposeful and necessary, for producer or service provider, to seek the opinions of the prospective customers.

2. No literature or sermonizing about the advantages of product or service will be provided for the testers-to-be.

3. Main ingredients or features, of a product or service, will be clearly made known or provided in tins, packages, etc.

4. Selected group will be randomly picked - be they old clients, rivals' customers, or totally new people.

5. The testers will not have to spend a dime or penny in the course of trying out a new production or provision.

6. Where a clarification is sought, this will be provided by the marketing representative or by those conducting research.

7. Reports (= opinions) provided, will be considered by the company. That is, tests or testing will serve purpose(s).
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See perfect RUNNING COST (1).

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