A Marketing Strategy That Entails the Creation of Marketable New

question 24

Multiple Choice

A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products is called ______.

• A) product development
• B) niche marketing
• C) idea screening
• D) commercialization

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Definitions:

Inventory Count

A physical verification of the quantities and condition of items in a company's inventory, used to ensure accuracy of accounting records.

LIFO Method

Last In, First Out; an accounting method for valuing inventory by treating the most recently produced items as the first to be sold.

Cost Of Goods Sold

Direct costs attributable to the production of goods sold by a company, including materials, labor, and overhead.

Merchandise

Goods that are purchased, stored, and sold by a business in the ordinary course of its operations, often referred to as inventory.