By George Obua | Project Leader
Testing how the market operates
Testing how market operates according to the survey of Kole Intellectual Forum: they observe that, it can be done through a variety of methods such as, focus groups, or trial runs; and because of that, data and feedback collected during the market is being analyzed to determine the potential success of the product or service in that market - of which - its knowledge is impacted on to the students for the purpose of empowerment. It is also treated as one of the key aspect of a market test in selecting the rightful market for advising of students.
Why are conducting marketing testing around the region?
The first benefit of market testing to us àt the Institute of Home Economics of Kole Intellectual Forum is that it helps to train our students to know how to minimize risk by not producing any product. Conducting a market test allows the Institute also to advice the students to select the businesses that can minimize risk by providing insight and relevant data on how their product or service will perform in a specific market. It also provides an opportunity to gather feedback from potential customers before launching a full-scale marketing campaign, which can save you time and money.
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