The Customer Type Component of the Product-Market Should Include

question 52

Multiple Choice

The customer type component of the product-market should include:

• A) the buyer of the product
• B) the type of good and service
• C) the user of the product
• D) the geographic area where customers live
• E) all of the above should be in the customer type.

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Definitions:

Raw Material Inventory

Materials that are usually purchased but have yet to enter the manufacturing process.

Safety Stock Computation

The calculation of a buffer quantity of inventory kept on hand to prevent stockouts, based on variability in demand and supply.

Standard Deviation

A statistical measure of the dispersion or variability within a data set, indicating how much individual values differ from the average.

Inventory Management

The practice of overseeing and controlling the ordering, storage, and use of components and finished products.