The Iceberg Metaphor Shows That Many Customers Try to Negotiate

question 4

Multiple Choice

The iceberg metaphor shows that many customers try to negotiate on price because:

• A)price is often inflated to attempt to maximize profits for the company
• B)price is the most easily quantifiable characteristic of any product
• C)they were trained to negotiate on price and price alone
• D)they feel that they are not fulfilling their duties as buyers if they do not attempt to get lower prices
• E)they do not realize that other factors,such as service and terms,can be more important to long-term satisfaction

---

Definitions:

Regression Analysis

A statistical technique for analyzing the connection between a single dependent variable and one or more independent variables.

Vacancy Model

A vacancy model is a theoretical or practical framework used to predict or analyze the vacant positions within an organization at any given time.

Personnel Supply Requirements

This involves determining the quantity and quality of employees available in the market that meet the organization's needs.

Renewal Model

A mathematical model used in operations research and statistics to analyze the times between events in a process where each event renews the process afresh.