The First Purpose of Concept Testing Is To

question 33

Multiple Choice

The first purpose of concept testing is to:

• A) estimate the likely sales or trial rate.
• B) identify very poor concepts for early elimination.
• C) refine revenue estimates claimed by marketers.
• D) identify the technology needed for development.

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Definitions:

Year-End

The completion of an accounting period, typically a 12-month cycle, at which time a company prepares financial statements and closes its books.

Unearned Revenue

Unearned revenue refers to money received by a company for goods or services yet to be delivered or performed, hence recognized as a liability until the service is completed.

Financial Statements

Reports that summarize the financial activities and condition of a business or individual.

Liability

A financial obligation or amount owed by a company to creditors, employees, tax authorities, or other entities.