Answer:
Market Testing
Step-by-step explanation:
To minimize losses and study the market and product the Prototype of the product is tested in the company and the target market. Product development is the totality of the process involved from taking a product from idea to a market-based product.
From the conceived idea to the target market the stages of new-product development are;
- Concept Development and Testing
- Business and Marketing Strategy Development
Market Testing is a very vital stage in the new product development, it involves the testing of the prototype of a new product before market entry. At this stage, any safety concern about the product is corrected before it is rolled out in the market.
Mattel conducts a market test for Barbie to ensure it will not cause a child before the doll is commercialized. This type of safety test occurs at the market testing of new product development.