True or False: Establishing a method for testing product quality is important for a successful product.

Establishing a method for testing product quality is indeed crucial for a successful product. Quality testing ensures that the product meets both the company's standards and the expectations of customers. This process involves various checks and assessments to identify any defects or issues before the product reaches the market. By implementing a robust quality testing method, businesses can verify that their products perform as intended, fulfill safety requirements, and offer durability and reliability.

Quality assurance helps to minimize risks associated with product failures, which can lead to customer dissatisfaction, product recalls, or even damage to a company's reputation. Furthermore, consistent quality testing can foster continuous improvements in the production process, resulting in better efficiency and resource utilization. Overall, prioritizing quality testing is fundamental for maintaining competitive advantage and achieving customer loyalty in any market segment, not just luxury items or based on production scale.