________ Are a Form of Product That Consists of Activities

question 22

Multiple Choice

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

• A) Liabilities
• B) Services
• C) Brands
• D) Consumer products
• E) Specialty products

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Definitions:

Optimal Order Quantity

Refers to the quantity of inventory that minimizes the total costs of inventory management, including ordering and holding costs.

Holding Costs

The expenses associated with storing inventory before it is sold, including warehousing, insurance, depreciation, and opportunity costs.

Ordering Cost

The expenses borne by a company when ordering goods from suppliers, which may include costs associated with processing and receiving the order.

Service Level Policy

A set of guidelines or standards that determine the quality and performance level of customer service operations.