​You Take Pride in Your Understanding of Consumer Behavior

question 63

Multiple Choice

​You take pride in your understanding of consumer behavior.You apply that knowledge in planning for your educational toy business.Specifically,you remind your salespeople that the behavior of your customers will be influenced not only by their own psychological makeup and other personal factors,but also by such interpersonal influences as:

• A)​cultural expectations of children
• B)​friends who have children
• C)​coworkers who have children
• D)​relatives who have children
• E)​the customer's learning about children

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Definitions:

Profit Margin

A financial ratio that indicates the percentage of revenue that exceeds the costs of goods sold, showing how much profit is made on sales.

FIFO

Stands for "first in, first out," an inventory valuation method where the goods first added to inventory are the first ones to be sold.

Historical Cost

The original monetary value of an asset or transaction, without adjustment for inflation or other external factors over time.

Replacement Cost

The cost to replace an asset with another of similar function and quality at current prices.