Final answer:
The option that is neither a limitation nor a benefit associated with test marketing is confidentiality.
Step-by-step explanation:
The option that is neither a limitation nor a benefit associated with test marketing is c. Confidentiality.
Test marketing involves releasing a product or service to a limited market to gauge consumer response and gather feedback. The other options listed, cost-effectiveness (a), real-world feedback (b), and market exposure (d), all represent either benefits or limitations of the test marketing process. The option that is neither a limitation nor a benefit associated with test marketing is confidentiality.
Confidentiality is not directly related to test marketing because it does not address the cost, feedback, or exposure of the product in the market.