Bob and Phyllis Cords Own Two Retail Stores, One in Pottstown

question 79

Multiple Choice

Bob and Phyllis Cords own two retail stores, one in Pottstown and one in Norristown. Though the towns are only 40 miles apart, the consumers at both stores are very different demographically. Bob and Phyllis alter the product offerings in both locations in an effort to cater to both demographic groups. Under the 4 Cs classification of the marketing-mix elements, the Cords have primarily adjusted ________.

• A) customer value
• B) customers
• C) cost
• D) convenience
• E) communication

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Definitions:

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a certain level of confidence.

Y-Intercept

The point at which a line crosses the y-axis of a graph, representing the value of the dependent variable when all independent variables are zero.

Torque

A rotational force applied to an object, calculated as the product of the force and the distance from the point of application to the axis of rotation.

Displacement

In physics, the change in position of an object; in engineering, the volume swept by the pistons inside the cylinders of an engine.