Offering an "Early Bird" Special at a Restaurant to Reduce

question 55

Multiple Choice

Offering an "early bird" special at a restaurant to reduce waiting times during peak hours is an example of

• A)demand shifting.
• B)queuing psychology.
• C)service phasing.
• D)service standardization.
• E)outsourcing.

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Definitions:

Economically Significant

Having a substantial impact or effect on the economy or financial markets, often influencing trends, policies, or decisions.

Referent Power

A form of influence where a person or group attracts others and builds loyalty based on charisma and personal traits.

Walmart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.

Independent Marketing Channel

A distribution channel that operates separately from the manufacturer, allowing products to reach the end consumer through third-party sellers or agents.