Customers Must See Value in a Product or Service Before

question 69

Multiple Choice

Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on

• A)a demand curve.
• B)the law of averages.
• C)multiple regression analyses.
• D)economies of scale.
• E)a sales orientation.

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Definitions:

Internal Users

These are individuals or groups within an organization who use financial and other data in directing and controlling its operations; they include management, employees, and internal auditors.

Cost of Goods Sold

The costs directly related to the manufacturing of products sold by a business, which encompass both materials and labor expenses.

Cost of Goods Manufactured

The total cost of producing goods during a specific period, including labor, material, and overhead expenses.

Managerial Functions

Essential roles and activities performed by managers to ensure the effective and efficient operation of an organization, such as planning, organizing, leading, and controlling.