Forensic Specialists Compiled the Following Information for Its First Quarter

question 23

Multiple Choice

Forensic Specialists compiled the following information for its first quarter cost of quality report:
$$\begin{array} { l r r } \text { Sales } & \$ 5,600,000 \\\text { Cost of goods sold } & \$ 3,360,000 \\\text { Disposing of scrap } & \$ 235,200 \\\text { Quality training } & \$ 84,000 \\\text { Inspecting materials on delivery } & \$ 280,000 \\\text { Performance reviews } & \$ 70,000 \\\text { Resolving customer complaints } & \$ 31,920 \\\text { Certifying suppliers } & \$ 140,000\end{array}$$
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The relevant percentage to be used to express appraisal activities at Forensic Specialists is:

• A) 5.7%.
• B) 33.2%.
• C) 2.75%.
• D) 1.25%.

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Definitions:

STP Analysis

A marketing process involving Segmentation, Targeting, and Positioning to identify and reach specific customer groups effectively.

Target Markets

Specific groups of consumers a company aims to reach with its products, services, and marketing efforts based on various demographic, geographic, and psychographic characteristics.

Marketing Mix

A set of actions, or tactics, that a company uses to promote its brand or product in the market; traditionally comprises the 4 Ps: Product, Price, Place, and Promotion.

SWOT Analysis

A strategic planning method used to identify Strengths, Weaknesses, Opportunities, and Threats.