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Test Marketing a Product

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If you were to test-market a new consumer product today for worldwide introduction, how would you select test countries for Europe, for Asia, and for Latin America?

Just a few sentences for each, please include any references please!

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Solution Summary

This solution helps with a problem about math in business. It discusses how to select test countries for a consumer product in Europe, Asia or Latin America.

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The product would first need to be something that meets the needs or wants of the populations of the country. The most important thing would be to make sure the population would need the product or that a market for wanting the product can be developed. In other words, you will not want to take a new alcoholic product into a Muslim population.

In Europe, the ability to transport the product safely would be a concern. During many months, transport is limited due to bad weather. The products would need to meet the standards of the European Union for many countries. The ability to finance and use foreign investment is another selection ...

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