Specialty Cakes Imagine That You're Planning an After-Symphony Fund-Raising Party, and You

question 157

Multiple Choice

Specialty Cakes
Imagine that you're planning an after-symphony fund-raising party, and you need a life-size grand piano cake. Or, you are a developer proposing a new shopping center to a group of investors, and you want to serve a cake shaped like an architectural rendition of the center. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes. She actually built a life-size grand piano for a gala in Macon, Georgia. You can expect to pay anywhere from $75 to $10,000 for one of Cecilia's artistic creations, depending on complexity of design and size. She uses only the best ingredients, and no two cakes are ever quite alike.
-Refer to Specialty Cakes.There are many occasions for which people may need to buy a cake,but most people do not have the time or interest to learn about cakes and their bakers.These people who do not know about the quality of the Cecilia Villaveces Cakes might choose them because they:

• A) equate price and quality.
• B) know cakes are in the mature stage of their product life cycle.
• C) realize that this is a monopolistic industry.
• D) believe that there is not a relationship between price and quality.
• E) desire value-added services.

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Definitions:

Poisson Distribution

A probability theory used to predict the likelihood of various events happening over a specified period, assuming the events are rare and independent.

Customers Arrive

Describes the action or process of clients or consumers coming to a place of business or service, initiating the demand for transactions or services.