When Shopping for Goods and Services, Customers Weigh Their Options

question 53

Multiple Choice

When shopping for goods and services, customers weigh their options and purchase based on the

• A) cheapest cost.
• B) availability of the item.
• C) physical goods and the quality of services.
• D) desire to have the goods or services.
• E) rating on Angie's list or Yelp.

Understand the concept and processes involved in re-engineering.

Calculate and analyze target costing and pricing strategies.

Identify and differentiate between value-added and non-value-added activities.

Comprehend the stages of a product's life cycle and the associated costs.

---

Definitions:

Fixed Costs

are business expenses that remain unchanged irrespective of the level of production or sales activity, such as rent, salaries, and insurance.

Line of Sight

The clear and understandable link employees see between their job performance and outcomes and the overall objectives or goals of the company.

Straight Commission Plan

A compensation strategy where an employee's pay is based solely on sales generated or results achieved, without a base salary.

Medical Imaging

The technique and process of creating visual representations of the interior of a body for clinical analysis and medical intervention.