What is: Test Market

A test market is a small group of people used by a business to test new products or marketing campaigns before they are released to the general public.

This allows businesses to gauge customer interest and see how products and campaigns perform in a real-world setting.

Test markets can be used to determine things like whether a product is desirable, how much demand there is for a product, what type of advertising is most effective, and what price people are willing to pay for a product.