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Discuss How the Importance of Product and Service Quality Is

question 46

Essay

Discuss how the importance of product and service quality is recognized in industry today.Site examples of awards and organizations in your discussion.


Definitions:

Cost-to-retail Ratio

A method used in retail to calculate the cost of merchandise sold, calculated by dividing the cost of goods by the retail price.

Net Markdowns

The total decrease in the selling price of merchandise over a period, minus any markdown cancellations or recoveries.

Freight-in Charges

Costs incurred in bringing inventory to its present location and condition, typically including transportation charges.

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