Sandy Tappan Owns an Automobile Detailing Business Called Sizzlin' Shine

question 35

Multiple Choice

Sandy Tappan owns an automobile detailing business called Sizzlin' Shine.Her goal is to outperform other auto shops by specializing in detailing services.Her shop doesn't do any mechanical or collision repair work.Tappan prices her detailing service higher than her competition because she uses only the best materials,and they cost more than the materials used by her competitors.Her goal is to maximize profits.
-Refer to Sizzlin' Shine.To maintain Sizzlin' Shine's quality image,Tappan provides complete training for each employee in company operations,objectives,and performance standards.What unique aspect of services is Tappan attempting to address?

• A) intangibility
• B) heterogeneity
• C) inseparability
• D) perishability

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Definitions:

Risky Projects

Initiatives or investments that carry a high level of uncertainty or likelihood of not achieving the expected financial returns.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, providing a measure that reflects the relative significance of each number.

Capital Budgeting

The process of planning and managing a firm's long-term investments in order to maximize returns.

Stock Value

The estimated monetary worth of a particular stock in the financial market.