Advances in Technology

question 8

Multiple Choice

Advances in technology

• A) have impacted the manufacturing sector only
• B) have had only limited impact on services
• C) have failed to change the level of customer interaction with an organization
• D) have had dramatic impact on customer interaction with services and with products
• E) have dramatically changed health care, but have not changed retailing

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Definitions:

Markup

The difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.

Rotary Tools

High-speed, handheld power tools that rotate a bit or accessory for performing various tasks such as cutting, carving, sanding, and polishing.

Frequent Purchaser Program

A loyalty scheme designed to reward customers who regularly buy goods or services from a particular business.

Quantity Discounts

Price reductions offered to buyers purchasing in large volumes.