Identify the Primary Reason for Conducting a Product Audit

question 86

Multiple Choice

Identify the primary reason for conducting a product audit. 

• A) To develop a marketing plan for new products
• B) To detect sick products and delete them
• C) To earn the estimated profits without introducing new products
• D) To implement cost cutting strategies without altering the product mix

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Definitions:

Premature Closure

The cognitive error of coming to a decision or conclusion before all relevant information has been considered or all options have been evaluated.

Social Physics

An interdisciplinary field that uses mathematical tools and theories to understand and predict human social behavior and societal trends.

Methodological Principle

A fundamental rule or procedure that guides scientific research and empirical study.

Positivism

A philosophical approach that asserts that the only authentic knowledge is that which is based on actual sense experience and positive verification.