Many Companies Are Taking a ________ Approach Today, Viewing Quality

question 97

Multiple Choice

Many companies are taking a ________ approach today, viewing quality as an investment and holding quality efforts accountable for bottom-line results.

• A) return-on-quality
• B) quality level
• C) performance quality
• D) conformance quality
• E) total quality management

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Definitions:

Consumer Taste

The preferences and expectations of consumers regarding products and services, which can influence their buying behavior.

Price Ceilings

A government-imposed limit on the price charged for a product to prevent prices from rising to a certain level above equilibrium.

Price Floors

Government or regulatory-set minimum prices for goods or services, aimed at preventing prices from falling too low.

Price

The cost involved in purchasing a specific good or service.