Saks Fifth Avenue Wants to Learn About Its Consumers' Attitudes

question 101

Multiple Choice

Saks Fifth Avenue wants to learn about its consumers' attitudes toward online purchases. There are numerous studies that are available about consumers and online buying, but Saks believes its customers might be different from the usual online consumer profile, so they decide to conduct their own study. If Saks were to use the available data about consumer attitudes, it would be using ___ data; however, if Saks does its own study it would collect ______ data.

• A) descriptive; primary
• B) experimental; descriptive
• C) secondary; primary
• D) primary; secondary
• E) secondary; descriptive

Understand the impact of lean manufacturing on production efficiency and employee functions.

Identify the appropriate costing system for different types of production environments.

Recognize prime costs and the significance of costing systems in cost management.

Understand the principles of lean manufacturing and its impact on reducing time, cost, and quality issues in production processes.

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Definitions:

Differentiation Focus Strategy

A competitive approach where a business targets a specific segment of the market and offers unique features that appeal to that niche.

Cost Leadership Strategy

A competitive strategy where a company aims to become the lowest cost producer in the industry, offering its products or services at a lower price than competitors.

Differentiation Strategy

A marketing approach where a company makes its product or service stand out from competitors through distinct features, quality, or services.

Significant Points

Key or important aspects, facts, or features that are noteworthy.