When Developing The_______ for His New Salon, George Decided to Obtain

question 18

Multiple Choice

When developing the_______ for his new salon, George decided to obtain a long-term competitive advantage over other salons by offering longer hours, better prices, a well trained staff and half-price perm day every Thursday to attract customers.

• A) retail strategy
• B) business cycle
• C) marketing concept
• D) focal point orientation
• E) selling concept

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Definitions:

M/M/1

A basic queueing model in operations research representing a system with a single server, Poisson arrival rate, and exponential service time distribution.

Units

Measurements or quantities of a product, item, or component, often used as a basis for production, inventory, or sales.

Waiting-Line Problem

A scenario in operational research where the focus is on reducing waiting times and improving service efficiency in queueing systems.

Operations

Activities involved in the day-to-day running of a business for producing and delivering products or services.