A Retailer Determines the Value of a Downtown Retail Site

question 36

Multiple Choice

A retailer determines the value of a downtown retail site through monitoring pedestrian traffic counts.This illustrates which data collection technique?

• A)survey
• B)observation
• C)experimentation
• D)simulation

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Definitions:

Cost Reduction

The process of cutting expenses to improve profitability without compromising the quality of products or services.

Effectiveness

The ability of an entity or process to achieve its goals or intended results with a minimal amount of waste, expense, or unnecessary effort.

Customer Satisfaction

The measure of how products or services provided by a company meet or exceed the expectations of its customers.

RFID

Short for Radio-Frequency Identification, a technology used for tagging and identification of items using radio waves, commonly used in tracking inventory and assets.