FIGURE 14-3 -Prices in Vending Machines (See Figure 14-3 Above) Tend to Above)

question 331

Multiple Choice

FIGURE 14-3
-Prices in vending machines (see Figure 14-3 above) tend to be higher because

• A)machines are placed in high demand areas.
• B)maintenance and operating costs are high.
• C)only small unit volume items are sold.
• D)customary pricing requires certain coin amounts regardless of markup.
• E)most people do not buy from vending machines.

Recognize the use of technology in tracking and analyzing customer behaviors and preferences.

Understand how performance measurements are used to assess the effectiveness of customer service and CRM programs.

Recognize the significance of prioritizing customers based on profitability.

Understand the principles of delivering and establishing customer value for building good customer relationships.

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Definitions:

Parens Patriae

A legal principle that allows the state to assume a parental role and to act in the best interest of a child or other individual who is unable to protect themselves.

Police Power

The capacity of a state to regulate behaviors and enforce order within its territory, often used to maintain the safety, health, morals, and general welfare of its inhabitants.

State Responsibility

The legal and political concept that states are accountable for upholding international laws, norms, and agreements.

Parens Patriae

A legal principle that allows the state to act as the guardian for those who are unable to care for themselves, including minors and the mentally ill.