MKTG 3101 Lecture Notes - Lecture 6: Walmart, Real Simple
Document Summary
Extend to a completely new market: when test marketing is unlikely. Management confidence: standard test marketing: real simple markets tests: geographic/demographic, controlled test marketing: tests among controlled panels (groups) of shoppers and/or stores, simulated test marketing: measure consumer responses in laboratory stores or simulated online shopping environments. Lifecycle strategies: create awareness: seek innovators through selected channels. Ex: underwater cameras, first at ritz, now found everywhere like wal-mart: promotional budget is high to create awareness. Growth: maximize market share: sales increase; profits increase.
