When Lush Polls Its Customers Regarding What New Scent of Bath

question 63

Multiple Choice

When Lush polls its customers regarding what new scent of bath oil should be released, this is an example of:

• A) customer co-creation.
• B) content sourcing.
• C) crowd funding.
• D) permission marketing.

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Definitions:

FIFO

A stock rotation and accounting method that assumes the oldest inventory items are sold or used first.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and transportation costs as soon as the goods leave the seller's premises.

Consignment

A business arrangement where goods are left in the possession of an authorized third party to sell, typically for a share of the revenue from the sale.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or other entity, typically comprising the balance sheet, income statement, and cash flow statement.