Brand Loyalty Is Valued by Marketers as It Not Only

question 127

True/False

Brand loyalty is valued by marketers as it not only keeps consumers purchasing the product, but also acts as a buffer against competitive messages getting to the consumer.

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Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or budgeted) cost, based on standard rates and actual hours worked.

Actual Costs

The real financial expenditures that a company incurs, as opposed to budgeted or estimated costs.

Standard Materials Quantity

The predetermined amount of materials expected to be used in the production of a single unit or a batch of product, under normal conditions.

Direct Labor Hour

A measure of the labor time specifically involved in the direct manufacture of products, not including indirect tasks.