There Are Three Broad Classes of Test Marketing

question 11

True/False

There are three broad classes of test marketing.

---

Definitions:

Merchandise

Goods that are bought and sold in business transactions.

Invoice

The bill that the seller sends to the buyer.

Gross Profit

The financial metric that indicates the difference between revenue and the cost of goods sold (COGS), revealing how much a company earns from its core business activities.

Selling Expenses

Costs incurred directly in the selling of goods and services, such as salaries of sales staff, advertising, and store display.