Extron Electronics Makes Coaxial Cables for Connecting Computers to All

question 54

Multiple Choice

Extron Electronics makes coaxial cables for connecting computers to all types of peripheral devices like printers,modems and fax machines.For the benefit of its customers,Extron provides a laminated card with pictures of all the possible cable connections that a customer could need.With this card,a customer can order from one to any number of connectors with as many feet of cable as is needed.Orders can be placed using a toll-free number,a fax number or an e-mail address.Company reps are also available 24-hours a day in case the customer is not sure which drawing on the card matches his or her needs.Orders are shipped within 48-hours of receipt.If a customer is not completely satisfied with his or her order,Extron has a 100 percent satisfaction guaranteed return policy.Which of the following trends has influenced the development of services marketing concepts and strategies as illustrated by Extron's focus on customer service?

• A) The increasing importance of service industries to the U.S.and world economies
• B) The increase of government regulation of service industries
• C) The growth in information-based technology
• D) Increased competition in professional services
• E) Manufacturing firms are placing increased emphasis on providing services

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Definitions:

Historical Cost Principle

An accounting principle that states assets should be recorded and reported at their original purchase cost.

Cash-Equivalent Value

The value of an asset that is easily convertible into a known amount of cash with minimal risk of change in value.

Business Activities

Operations, actions, and tasks that a company engages in as part of its economic operations, including production, sales, marketing, and finance.

Resources

Assets, materials, and inputs used by an organization to produce goods or services.