Which of the Following True of Nonfinancial Measures of Quality

question 27

Multiple Choice

Which of the following true of nonfinancial measures of quality?

• A) They direct attention to financial processes that help managers identify the precise problem areas that need improvement.
• B) They focus managers' attention on how poor quality affects operating income.
• C) They assist in problem solving by comparing costs and benefits of different quality-improvement programs and by setting priorities for cost reduction.
• D) They provide immediate short-run feedback on whether quality-improvement efforts are succeeding.

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Definitions:

Loyalty

A consumer's commitment and repeated patronage to a brand or product, often driven by satisfaction, preference, or rewards programs.

Service Branding

The creation and promotion of a distinct brand identity for a service, differentiating it from competitors and fostering customer loyalty.

Brand Reputation

The public's valuation and perception of a brand's trustworthiness, quality, and reliability, influenced by consumer experiences and media portrayal.

Relationship Marketing

A strategy focused on building and maintaining long-term, personal engagements with customers, prioritizing customer retention and satisfaction.