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Overview:
This video focuses on product trials as a method of primary market research. Using the example of a new cosmetics company, Floresence, the lead chemist, Kane Jones, aims to launch a new shampoo and test the target market’s response to it. The video discusses the advantages and disadvantages of product trials, including obtaining feedback from real customers, reducing risks, and generating interest in the product, while highlighting the high cost and time involved and the risk of competitors gaining access to the new product.
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