Gasoline Is the Only Product Commonly Purchased That Is Priced

question 67

True/False

Gasoline is the only product commonly purchased that is priced down to a fraction of a cent.This is so because gasoline is selected for purchase following a low-involvement hierarchy that makes point-of-purchase factors more important.

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Definitions:

Time and Place Utility

The value added to products through making them available at the right time and location to meet consumer needs.

Pipeline

In supply chain, refers to the flow of goods and materials from the supplier to the customer, as well as the processes that move products through the stages of production to delivery.

High-value Products

Goods or services that provide significant value to the customer, often due to their quality, uniqueness, or customization.

Low-value Products

Goods characterized by relatively low unit cost and often perceived as having lower importance or priority in inventory management and logistics planning.