Johnson Gloves Is a Company That Caters to the Very

question 126

Multiple Choice

Johnson Gloves is a company that caters to the very affluent consumer who desires complete personalization. This Madrid-based boutique will use your fingerprints to customize your very own pair of driving gloves. The gloves are designed and created solely for you. This is an example of:

• A)mass-appeal
• B)mass-personalization
• C)ultra-customization
• D)ultra-personalization

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Definitions:

Collections

The process of pursuing and receiving payments on outstanding accounts receivable from customers.

Payments

The act of transferring money or money's worth from one party to another as a settlement for a transaction or an obligation.

Cash Receipts

Money received by a business, recorded in its financial statements, typically from transactions such as sales or services rendered.

Cash Sales

Transactions where payment is made in cash (or equivalent) at the time of sale, with no delay in payment.