Mudra Institute of Communications Ahmedabad(MICA) today organized a talk by Velvan Subramaniam, Director South Asia AC Nielsen BASES on Simulated Test Marketing.
Simulated Test Marketing (STM) was developed in the 1970s and refined over the next 20 years, STM has supplanted traditional in-market testing as the predominant method used by packaged goods manufacturers to evaluate new products, line extensions, and other new business opportunities prior to large-scale in-market introduction. Relative to traditional test markets, STM’s are faster, less expensive, more secure, and more accurate with regard to their forecasting capability. STM systems combine consumer reaction to new product initiatives with marketing plan information to forecast likely sales volume. The talk was enthusiastically attended by over 70 students of the two year courses of PGPCM of MICA and Mr. Subramaniam patiently answered their queries after the talk.
The talk was a part of an initiative of MICA Lecture Series (MLS), a committee of MICA in a constant endeavor to keep student abreast with practical inputs from corporate world in the field of marketing and communication strategies.