Management and Organizational Studies 1021A/B Chapter Notes - Chapter 20: Test Market

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Bob Larose

Document Summary

Mar 23 | mos1021b | market research segmentation, targeting & positioning: through the mail, on the phone, through the internet. Each has limitations; need to balance costs against expected quality of info. Syndicated studies= hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price. Routinely conducted w/ extensive panels of consumers to determine trends. Panel= large sample of respondents that voluntarily completes questionnaires on a regular basis so that researchers can assess changes in behavior and attitudes. Can be conducted in: simulated test markets= contrived environments that mimic real-life situations, in-market= real-time in-field tests where product/promotion is actually sold in a limited location and monitored for success during a specific time period. Formally, test market= an in-market localized regional approach, or short-term online destination, used to test the success of promotional offers, new services, or new-product launches.