To save time and money, companies often turn to simulated test markets, a technique that somewhat replicates a full-scale test market.
What is a Simulated test market?
A simulated test market is a market used to determine the participants' buying intentions in which researchers expose people to advertising and other marketing mix variables.
Simulated test markets are considered as quick and cost-effective as traditional test markets since the advertiser does not have to carry out the complete marketing plan, which helps in saving time which replicates a full-scale test market.
Learn more about simulated test markets, here:
https://brainly.com/question/28178047
#SPJ4
