You Need to Let a Valued Customer Know That the Product

question 65

Multiple Choice

You need to let a valued customer know that the product he special-ordered won't be ready by tomorrow, as originally promised. In addition to relaying this news, you want to inform him of his options: to keep his original order open to be received at a later date, or to cancel it and receive a substitute item immediately. You consider calling him but then wonder whether email might not be preferable. Which of the following is NOT a potential downside to using the telephone?

• A)The customer might feel put on the spot to decide between the two options during the phone call.
• B)The customer might be unprepared to discuss his order when you call.
• C)You won't want to leave the bad news as a message if the customer is not at home.
• D)You will be able to hear the customer's tone of voice and adapt your message accordingly.
• E)You are unable to gauge your customer's reaction by making personal contact.

Differentiate between the impact of income changes on the demand for different goods.

Analyze diagrams to understand market dynamics and elasticity.

Examine the relationship between income elasticity and consumer spending patterns on education and other goods.

Understand the concept of elasticity in demand and its applications.

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Definitions:

Left Ventricle

The chamber of the heart that receives oxygenated blood from the left atrium and pumps it out under high pressure through the aorta to the systemic circulation.

Aorta

Large artery that receives oxygenated blood pumped out of the heart’s left ventricle.

Pulmonary Circuit

The pathway of blood flow between the heart and lungs where carbon dioxide is exchanged for oxygen.

Red Blood Cells

The cells in the blood responsible for carrying oxygen from the lungs to the body tissues and carbon dioxide back to the lungs.