During the market testing stage of the new-product process, a product may be tested multiple times with consumers to get their reactions with test marketing, one type of which is known as

Simulated test markets.

Explanation:

During the market testing stage of the new-product process, a product may be tested multiple times with consumers to get their reactions with test marketing, one type of which is known as simulated test markets.

A simulated test market can be defined as a marketing research technique that involves the exposure of consumers to an unreal market in order to observe their reactions to a new product. It involves advertising in stages through a simulated market so as to determine a customer's purchase decision, forecast demand and market analysis for a new product.

Hence, a simulated test market is aimed at observing and analyzing potential customer's reaction to a new product before it's introduced to the market.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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