In Operations Management, _____ Means Using Resources to Create Value

question 79

Multiple Choice

In operations management, _____ means using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits.

• A) effectiveness
• B) efficiency
• C) throughput
• D) productivity

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Definitions:

Customer Satisfaction

A measure of how products or services meet or surpass the expectations of customers, often used as an indicator of repeat business and loyalty.

Global Segments

Refers to the division of the global market into distinct groups of customers or regions with similar characteristics or needs.

Positioning

The process of establishing a distinctive place for a brand or product in the market and in the customers' minds.

Marketing Mix

The set of tactical marketing tools—Product, Price, Place, Promotion—that a company uses to produce the response it wants in the target market.