Test Screenings and Tracking Studies Are Examples of Market Research

question 57

Multiple Choice

Test screenings and tracking studies are examples of market research techniques used in the movie industry to

• A)estimate a production company's potential market share.
• B)identify prospective nominees for industry awards such as the Oscars.
• C)create an advance market for the movie's DVD release regardless of whether it is successful in its theater release or not.
• D)identify possible story lines and/or plots for future movie ventures.
• E)reduce uncertainty and improve marketing actions.

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Definitions:

Specific Identification

A method of inventory valuation that identifies and assigns cost to individual inventory items, suitable for unique or expensive products.

Lowest Cost of Goods Sold

The minimum expenses incurred in the direct creation of goods available for sale, often achieved through efficient production techniques or cost-cutting measures.

Current Cost

The cost that would be incurred to replace an asset or to purchase a service at the present time, as opposed to its historical cost.

Erratic Changes in Costs

Refers to unpredictable fluctuations in expense levels, which can impact profitability and budgeting in businesses.