Increasing Customer Value Occurs When

question 52

Multiple Choice

Increasing customer value occurs when

• A)the customer receives more benefits.
• B)the customer perceives a greater gap between benefits and sacrifice.
• C)customer costs are reduced.
• D)none of the above.

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Definitions:

Sales Forecast

An estimate of the quantity of goods or services a company believes it will sell in a specific period.

Budgeting Process

The budgeting process is a systematic approach to creating a financial plan for a defined period, detailing an organization's projected revenues, expenses, and cash flows.

Direct Labour

The workforce directly involved in the manufacturing process, whose wages are considered variable costs.

Long-Range Budgets

Financial plans that project revenues, expenses, and other financial details for a period of several years into the future.