Premium Pricing Can Be Used to Effectively Wean Out Low-Profit

question 76

True/False

Premium pricing can be used to effectively wean out low-profit customers during off-peak capacity utilization times and bring demand down.

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Definitions:

Just-in-time System

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs through receiving goods only as they are needed in the production process.

Client Specifications

Client specifications are detailed descriptions provided by a client outlining the requirements, standards, and criteria for a project or product.

Quality

Good or service that is free of deficiencies.