________ Are Consumer Products for Which a Consumer Either Has

question 87

Multiple Choice

________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

• A) Specialty products
• B) MRO products
• C) Unsought products
• D) Shopping products
• E) Staple products

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Definitions:

COGS

Stands for Cost of Goods Sold and refers to the direct costs attributable to the production of the goods sold by a company.

Payables Turnover Rate

A liquidity metric that measures how quickly a company pays off its suppliers by dividing total purchases by average accounts payable.

Accounts Payable Balance

The amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.

Sales

The exchange of goods or services for money, representing the primary revenue source for most businesses.