In an Effort to Increase Profits, Hunan Kitchen Is Attempting

question 61

Multiple Choice

In an effort to increase profits, Hunan Kitchen is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of

• A) target marketing.
• B) a reference group strategy.
• C) benefit segmentation.
• D) B2B marketing.

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Definitions:

Buyer Acquires

The process where a buyer takes possession or ownership of goods or property from a seller.

Quick Assets

Liquid assets that can be quickly converted into cash without significantly affecting their value, such as marketable securities and accounts receivable.

Acid-Test Ratio

A financial metric used to determine a company's short-term liquidity by comparing its most liquid assets (excluding inventory) against its short-term liabilities.

Just-In-Time Inventory System

A supply chain management strategy aimed at reducing inventory costs by receiving goods only as they are needed in the production process.