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Simulated test marketing

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Simulated test marketing

  1. 1. Simulated Market Testing Kourtney Roy
  2. 2. Definition“The presentation of advertising and other promotional materials for several products, including a test product, to members of the product’s target market.”
  3. 3. AccuracyMost simulated test marketing suppliers claim to have an average accuracy within +/-10% of the actual forecast up to 90% of the time.
  4. 4. TechniquesThe techniques of most vendors is the same and are considered to be highly effective. The major vendors can differentiate their services and customize the models with the latest research trends.
  5. 5. Data CollectionData was originally collected via mallsand other centralized locations. This was quickly replaced by the internet due to our fast paced lifestylesand the ever growing convenience of the internet.
  6. 6. Categories for simulated test marketingPurchase intent Preference share
  7. 7. Price Researching firms will offer simulated market tests for anywhere from $25,000 to $100,000. This is in comparison to the $1,000,000 or more that full scale test marketing would cost.
  8. 8. Shelf SetQuantify the impact of product assortment, aisle flow, pricing and in-store signage using the industry’s leading online virtual shopping technology. Compared to traditional testing methods, our virtual solutions let you quickly gather and analyze shopping data, providing unprecedented insights for shopper marketing and category management decision making.http://www.visioncritical.com/products/vision- critical-applications/shelfset
  9. 9. Example of virtual shopping capabilitieshttp://www.youtube.com/watch?v=CiIFL3CfEGI
  10. 10. All in allSimulated test marketing is an ever growing field that is cost and time effective.The high price of failure makes companies more prone to stick to regular test marketing methods.

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