The University of Central Florida's Incentive/Efficiency Program Encourages Employees to Submit

question 29

Multiple Choice

The University of Central Florida's Incentive/Efficiency Program encourages employees to submit tangible ideas or suggestions that will result in savings or generate additional revenue for the University of Central Florida.The person who suggests an adopted proposal receives a cash reward equal to 10 percent of the first year's net savings or generated revenues.The University of Central Florida's Incentive/Efficiency Program is designed to achieve which of the following research objectives?

• A) Gain first-hand knowledge about customers
• B) Improve internal service quality
• C) Gain first-hand knowledge of employees
• D) Obtain ideas for service improvement
• E) Gain first-hand knowledge about competitors

---

Definitions:

Substitute

An alternative product or service that consumers can choose over another based on similarities in function, utility, or purpose.

Marketing Mix

A foundational marketing model consisting of the four Ps: Product, Price, Place, and Promotion, used to ensure the successful marketing of a product or service.

Generate Costs

The process of incurring expenses as a result of conducting business activities or operations.

Premium Pricing

A pricing strategy where goods or services are priced higher than the market average to emphasize their exclusivity or quality.