The Ability of an Organization to Produce Services That, by Utilizing

question 111

Multiple Choice

The ability of an organization to produce services that, by utilizing the consumer's five senses, have some uniqueness in their characteristics is referred to as

• A) mass production.
• B) time-based competition.
• C) differentiation.
• D) flexible response.
• E) experience differentiation.

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Definitions:

Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, and investment firms.

Socialist Economy

An economic system where the production and distribution of goods and services are regulated by the government, aiming for equal wealth distribution and minimizing economic inequalities.

State Enterprises

Businesses owned and operated by the government aimed at providing services or goods to the public.

Incentives

Motivational tools or rewards designed to encourage specific actions or behaviors by individuals or groups.