Simulated test marketing (STM) is a marketing research technique where buyers are subjected to non-public advertising and are observed when making purchase determinations on a new product. This kind of research is often used before a decision is made on whether or not to bring out a specific product, such as a new fast food item. It imitates real life in a laboratory-like setting.
For decades, STMs have been used to analyze the appeal of consumer goods. Today they are used for everything from financial services to pharmaceuticals to new technologies. Companies are aided by these techniques to measure purchase intent and differentiate themselves from their competitors.
The Insights Association promotes itself as empowering intelligent decision that impacts business. They help their members grow their businesses by providing skills and knowledge for insightful marketing.