The Activities Necessary to Remain in Business Are Called

question 11

Multiple Choice

The activities necessary to remain in business are called:

• A)Value-added activities
• B)Activity inputs
• C)Activity outputs
• D)Activity drivers

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Definitions:

Understand the Customer

The process of gaining insights into customers' needs, preferences, and behaviors to effectively tailor marketing efforts and product development.

Supply Chain

The system of organizations, people, activities, information, and resources involved in supplying a product or service from suppliers to consumers.

Logistics Costs

Expenses involved in the procurement, storage, and transportation of goods from the manufacturer to the end user.

Retail Price

the final cost at which a product is sold to consumers, including any markups by retailers.