Concepts Tests Are Considered Fairly Good Predictors of Success for Line

question 116

True/False

Concepts tests are considered fairly good predictors of success for line extensions and for products that do not require major changes in consumer behavior.

---

Definitions:

Merchandise Inventory

Products that a business has in stock and intends to sell to its customers as part of its commercial operations.

Inventory Shrinkage

The loss of products between point of manufacture or purchase from supplier and point of sale, often due to theft, damage, or errors.

Physical Count

The process of manually counting the actual inventory on hand to verify stock levels and account for discrepancies.

Inventory Records

Documents that track the quantity, value, and movement of products or materials a company holds in stock.