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Cadet Uniform Services, a Canadian company that rents uniforms to major corporations, requires its new delivery drivers to go through a year-long training regimen before they receive their own delivery routes. First, new drivers go through three months of training to learn the whole scope of the business before setting foot in a delivery truck. Then they ride with experienced delivery drivers for nine months to watch how they interact with customers. According to the services marketing triangle, Cadet's training program is a form of _____ marketing.
Per Capita Income
The average income earned per person in a certain area, calculated by dividing the area's total income by its total population.
Price Elasticity
A metric that reflects the degree to which the demand for a product changes in response to alterations in its price, indicating consumer sensitivity to price fluctuations.
Marginal Cost
The cost of producing an additional unit of output, which is an important factor in economic decision making.
Profit-maximizing Price
The price that results in the maximum possible profit for a firm, based on its cost structure and demand for its products.
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