Phil Leong Has Just Ordered a Number of Expensive Executive

question 57

Multiple Choice

Phil Leong has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database.In which of the following ways is Mr.Leong most likely using his database?

• A)to identify prospects
• B)to decide which customers should receive a new sales offer
• C)to deepen customer loyalty
• D)to avoid serious customer mistakes
• E)to beat the competition to a sale

Evaluate strategies for maximizing store traffic through pricing and services.

Understand the principles of capacity pricing in service industries.

Assess pricing strategies for new product offerings.

Understand the impact of advertising on product demand elasticity.

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Definitions:

Economy

The large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

Collective Bargaining

The negotiation of labor contracts between labor unions and firms or government entities.

Union Workers

Employees who are members of a labor union, which represents their interests in negotiations with employers.

Nonunion Workers

Employees who are not members of a labor union and typically do not enjoy the same collective bargaining advantages as unionized workers.