What is test marketing?

What is test marketing?

Once the product has been developed, it is put to test. Test marketing is one of the most important stage in product development process. It lets the marketer know about the performance and future of the product in the market. Under this:

a. The product is actually introduced in the market .
b. The 4Ps – product,price,place and promotion , of marketing are put to test.
c. The costs incurred in the test marketing which may vary with the type of the product are analysed.

Test marketing is like someone trying to test the waters before jumping into the river! On finding the river safe enough to swim , he finally dives into it. There have been several cases, where the product had failed in the test marketing stage and was therefore withdrawn.