Learn something new every day More Info... by email In regards
to marketing, experimental techniques are measurements that help
economists and companies make determinations on consumer
behavior. Prior to fully releasing a product or entering a new
market, economists and companies look to measure variables or
factors that will affect how consumers purchase goods and
services. Purchase laboratories, test markets, and choice
modeling are a few common types of experimental techniques in
marketing. Large organizations and publicly held companies will
often engage in these techniques, as a small change in products
offered can result in large changes to profits. Purchase
laboratories are closely controlled situations where a group of
consumers is placed into a store and allowed to purchase goods.
Marketers use these types of experimental techniques to
determine how customers shop, where they look on store shelves,
and what types of packaging are most appealing, as well as how a
particular company's product fares com