Entrepreneurs Who Use a _____ Model Want to Create Premium

question 47

Multiple Choice

Entrepreneurs who use a _____ model want to create premium experiences for their customers that typically involve personalized service and luxury facilities and products.

• A) revenue
• B) benefits-driven
• C) freemium
• D) value-driven
• E) cost-driven

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Definitions:

Advertising Expense

The cost incurred by a business to promote its products, services, or brand in various media channels.

Cost Of Goods Sold Budget

A budget of the estimated direct materials, direct labor, and factory overhead consumed by sold products.

Direct Materials

Direct materials are raw materials that are directly attributable and allocable to a finished good or product being manufactured.

Factory Overhead

The indirect costs associated with running a manufacturing operation, including costs like utilities, maintenance, and depreciation of factory equipment.