"Committed" and "Sunk" Costs Are

question 96

Multiple Choice

"Committed" and "Sunk" costs are:

• A) Generally not fixed.
• B) Generally small in amount.
• C) The result of prior bad decisions.
• D) Not relevant for decision-making.
• E) Recoverable in trade.

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Definitions:

Services

Intangible products provided to consumers, such as repairs, entertainment, or consultation, which do not result in ownership of anything physical.

Customer Experience Management

The method of creating and responding to interactions with customers in a way that fulfills or surpasses their expectations, aiming to boost satisfaction, loyalty, and support among them.

Internal Marketing

The promotion of a company’s objectives, products, and services to its employees, aiming to align customer and employee satisfaction.

Services Marketing

Marketing practices tailored to promote and sell intangible services, as opposed to tangible products.