What Are the Phases Involved in Program Development

question 23

Essay

What are the phases involved in program development?

Recognize the factors influencing consumer decision-making, including the information search process and sources.

Identify the drivers of consumer demand, satisfaction, and the role of customer expectations.

Differentiate between consumer and business-to-business marketing strategies.

Describe the process and importance of prospecting in personal selling.

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Definitions:

Actual Direct Labour Hours

The real number of labor hours worked by employees directly involved in the production process, typically recorded after the work has been completed.

Standard Cost System

A cost accounting system that uses cost standards for materials, labor, and overhead to control actual costs and analyze variances.

Favourable Variance

A financial term referring to a situation where actual costs are less than budgeted costs, or actual revenues exceed budgeted revenues.

Variable Overhead Efficiency Variance

A measure of the difference between the expected variable overhead based on standard costs and the actual variable overhead incurred.