_____ Refers to an Approach to Offerings That Integrates the Physical

question 117

Multiple Choice

_____ refers to an approach to offerings that integrates the physical product,attendant services,and price into the total offering.

• A)Product oriented
• B)Market oriented
• C)Service-dominant
• D)Product-dominant
• E)Service-oriented

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Definitions:

Long-Range Budget

A financial plan that extends beyond the typical fiscal year, often spanning three to five years, to support strategic planning.

Participative Budgeting

A budgeting process where both management and employees participate in setting budgets, improving accuracy and commitment.

Budgeting Slack

The practice of underestimating revenue or overestimating expenses while preparing a budget to create a cushion or slack for unexpected situations.

Budgetary Slack

The practice of underestimating revenues or overestimating expenses when preparing a budget to create a buffer for unexpected scenarios.