Certification Is a Form of Industry Self-Regulation

question 77

True/False

Certification is a form of industry self-regulation.

---

Definitions:

Pricing Services

The process of determining the price at which services will be offered to customers, considering cost, value, demand, and competition.

Yield Management Systems

Systems used by companies, especially in the hospitality and airline industries, to adjust prices and availability of products or services in response to market demand, maximizing revenue.

Capacity Utilization

Refers to the percentage of total production capacity that is actually being used by a company over a specific period.

Mass Customization

A marketing and manufacturing technique that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.