Which of the Following Statements Relating to Total Quality Management

question 96

Multiple Choice

Which of the following statements relating to total quality management is TRUE?

• A) High product quality in manufacturing can have significant market implications for a firm.
• B) To produce 100 good units in a process with a 20 percent defective rate, the company must produce a total of 120 units.
• C) The only effect of internal failure is loss of material.
• D) Poor quality generally does not increase the inventory level or lead times.

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Definitions:

Sales Call

A phone call or visit made by a sales representative to a potential or existing customer for the purpose of selling a product or service.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which may not align with the calendar year.

Sales Call Objective

The specific goal or aim that a salesperson intends to achieve during a sales call, which could range from simply gathering information to closing a sale.

FAB Formula

A sales strategy that focuses on the Features, Advantages, and Benefits of a product to highlight its value to the customer.