You Have Just Started a Limousine Service and Have Developed

question 12

Multiple Choice

You have just started a limousine service and have developed a strategy that stresses quality and luxury.Your limos are always spotlessly clean on the inside,freshly waxed,and stocked with flowers,champagne,free car phones,and televisions.Your drivers are always immaculately dressed and are required to hold the door open for patrons entering and leaving the car.What is your promotional strategy stressing?

• A) tangible cues
• B) patronage-oriented objectives
• C) prestige prompts
• D) physiological prompts

Recognize the factors affecting insurance rates and coverage levels.

Identify risk management strategies and their applications.

Comprehend the legal concepts related to insurance and liability.

Understand the process and benefits of making a household inventory.

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Definitions:

Simple Rate Of Return

A method to evaluate an investment's efficiency by dividing the annual incremental net operating income by the initial investment cost.

Cash Operating Costs

Expenses a company incurs during its day-to-day operational activities that require cash payment.

Automating

The process of using technology to perform tasks without human intervention, often resulting in increased efficiency and reduced error.

Payback Period

The time it takes for an investment to generate cash flows sufficient to recover its initial cost.