SCENARIO 1-1 The Manager of the Customer Service Division of a Major

question 141

Multiple Choice

SCENARIO 1-1
The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products.
-Referring to Scenario 1-1,the possible responses to the question "How would you rate the quality of your purchase experience with 1 = excellent,2 = good,3 = decent,4 = poor,5 = terrible?" result in

• A)a nominal scale variable.
• B)an ordinal scale variable.
• C)an interval scale variable.
• D)a ratio scale variable.

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Definitions:

Differentiation Focus Strategy

A business strategy where a company targets a specific market segment, offering unique products or services to stand out from competitors.

Cost Leadership Strategy

A generic business strategy that focuses on reducing expenses and, in turn, lowers product prices while targeting a broad array of market segments.

Reducing Expenses

Refers to actions taken by individuals or businesses to decrease their costs or spending in various areas to improve financial health or increase profitability.

Market Segments

Subsets of a market made up of people or organizations with one or more characteristics that cause them to demand similar products.