Simulated test market research

Content
“Laboratory” method; it simplifies the traditionally complex purchasing process – consumers enter a specially constructed “improvised” store, in which different advertisements are displayed, and purchase particular goods. These goods are located on stalls that resemble stalls in real stores. On the basis of these improvised purchases, researchers calculate the initial purchase rate and the frequency of subsequent purchase rates.

Application
Simulated test market research:
• allows for a preliminary estimate of a particular product's sales volume to be made;
• provides important information that helps in determining which products should be launched on the market.