Final answer:
Test marketing should be conducted when a product has been given a low probability of success.
Step-by-step explanation:
Test marketing is the process of introducing a product to a small segment of the market to gather feedback and assess its potential success before a full-scale launch. It is typically done when there is uncertainty about the product's success. Therefore, the statement that test marketing should be conducted when a product has been given a low probability of success is true.
For example, let's consider a new laundry detergent brand being tested in the market. If the company believes that the product has a low chance of success, they may choose to conduct test marketing to gain insights from consumers and make necessary adjustments to improve the chances of success. Test marketing helps businesses minimize risks by allowing them to make informed decisions based on real-world feedback.
In conclusion, test marketing is an important strategy to assess a product's potential success, especially when there are doubts or low expectations. It provides valuable information that can guide businesses in making strategic decisions.