Once Market Segments Have Been Defined and Analyzed and Target

question 53

Multiple Choice

Once market segments have been defined and analyzed and target markets have been selected for development, the firm must turn its attention to creating, communicating, delivering, and exchanging offerings that have value to the target markets. This process is known as ________.

• A) positioning
• B) target marketing
• C) niche marketing
• D) outsourcing
• E) selling

Understand the concept and components of standard direct materials and labor costs, including calculations and variances.

Comprehend the significance of allowances for waste, spoilage, and other factors in setting standards for materials and labor.

Identify and calculate variances in direct materials (quantity and price) and direct labor (efficiency and rate).

Grasp the role of freight-in, receiving, handling costs, and discounts in calculating the standard cost of direct materials.

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Definitions:

Credit

An accounting entry that either decreases assets or increases liabilities and equity on a company's balance sheet, or an entry on the right side of a double-entry bookkeeping system that represents the addition of value to an account.

Debit

An accounting entry that increases assets or expenses or decreases liabilities, equity, or revenue.

Chart Of Accounts

A systematic list of all account titles and numbers used by an organization to organize its financial transactions systematically.

Accounts Used

Refers to the specific ledgers, charts, or titles under which financial transactions are categorized and recorded in accounting.