Because a Service Is Individually Produced and Is Virtually Unique

question 58

Multiple Choice

Because a service is individually produced and is virtually unique, the service is said to have

• A) liquidity.
• B) coherence.
• C) inseparability.
• D) heterogeneity.
• E) tangibility.

Understand the process of setting and modifying marketing objectives and budgets.

Comprehend the importance and methods of sales forecasting.

Grasp the role of marketing measurement tools in evaluating marketing strategies.

Identify the elements critical to developing a marketing budget.

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Definitions:

Forward Contract

A financial agreement between two parties to buy or sell an asset at a predetermined future date and price.

Cash-flow Hedge

A financial strategy used to manage risk associated with variability in cash flows due to changes in exchange rates, interest rates, or commodity prices, by using derivatives.

Net Exchange Gain

The profit from exchanging one currency for another after accounting for currency fluctuations and transaction costs.

Forward Contract

A tailor-made agreement between two entities to purchase or sell a specific asset at a predetermined price on a future date.