Customer Response Time Involves ________

question 79

Multiple Choice

Customer response time involves ________.

• A) the speed it takes a customer to respond to an advertisement and place an order
• B) the speed at which an organization responds to customer requests
• C) the speed it takes to develop a new product
• D) the speed it takes an organization to develop a Total Quality Management (TQM) program

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Definitions:

Idle Capacity

Unused production capacity or resources that are not being utilized to their full potential.

Special Discounted Price

A reduced price offered on a product or service, often to stimulate sales, clear inventory, or reward customers.

Opportunity Cost

The potential benefit that is foregone from not following the best alternative action or decision.

Price Reduction

A decrease in the listed price of goods or services, often used as a strategy to increase sales or competitive position.