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Q. Market Testing and Commercialization?
The new products are tested in the markets on four parameters: trial, first purchase, adoption, frequency and volume. This test marketing can be done on the pilot or small scale level. Once the test marketing is completed and the firm has favourable results, it is then ready to commercialize the product. The process of commercialization includes timings, place and strategy for marketing and distribution.
Product positioning in the market can determine the success or failure of products. We have reviewed the various process involved in the new product development in our discussion above. You will find this information useful when you get down to developing a product.
It is essential that you study the list below to ensure that you understand the terminology used in assignment and examination questions. The successful outcome of your assessment
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