At the Comfort Inn Web Site, a Customer Can Create

question 29

Multiple Choice

At the Comfort Inn Web site, a customer can create an account with his preferences for a smoking or non-smoking room, the type of pillows he likes, early or late check-in and check-out, and his room location. The hotel keeps track of this information and uses it whenever this customer reserves a room in the future. This is an example of:

• A) Combined target market approach.
• B) Diversification.
• C) Task transfer.
• D) Mass customization.
• E) Single target market approach.

Comprehend differential cost and revenue and their importance in evaluating business alternatives.

Analyze the concept of opportunity cost in decision-making processes.

Understand the application of differential analysis in various managerial decisions including product discontinuation and asset replacement.

Evaluate make-or-buy decisions in the context of manufacturing processes.

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Definitions:

Intuition

The ability to understand or know something immediately, without the need for conscious reasoning.

Problem Identification

The initial step in the problem-solving process where the issue is clearly defined and understood before seeking solutions.

Stakeholders

Individuals, groups, or organizations that have an interest or concern in an organization and can be affected by the organization's actions, objectives, and policies.

Bounded Rationality

A concept that suggests individuals make decisions based on a limited amount of information and cognitive constraints.