Scenario 1.2 Use the following to answer the questions. Paws and Claws Hotel is a full-service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly book a grooming appointment, obedience class, or overnight accommodations for their dog or cat. Paws and Claws has several unexpected services, such as a 600-square-foot swimming pool, complete with slide and dog-friendly graduated steps to help them exit the pool. Customers can also drop their dog or cat off each morning for pet day care. Paws and Claws has a pick-up and delivery service, webcams in every kennel so that pet families can view their pets while away, and pet "furniture" so that the cats and dogs can lie on sofas just like at home. Paws and Claws is also open 24 hours a day, 365
days each year so that customers can pick up their pet at any time. The cost for an overnight stay at Paws and Claws averages $50, compared to competing kennels at about $30. The day care costs are $25 for either a dog or cat. The majority of Paws and Claws' competitors don't offer the day care service, and require a two-day minimum for overnight stays. Informal discussions with customers led to the addition of pet day care and 24-hour hours of operation. Previously, Paws and Claws was more interested in competing based on its prices. Refer to Scenario 1.2. Paws and Claws' addition of unexpected services, pick-up and delivery, and 24-hour access while charging a higher price than its competition is best described as which type of value??
A. ?Value = monetary price - customer benefits.
B. ?Value = customer costs - customer benefits.
C. ?Value = customer benefits - customer costs.
D. ?Value = customer benefits - monetary price.
E. ?Value = customer benefits - time and effort.
Answer: C
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When deciding how to allocate the results of the coalition's efforts, those advocating an equity allocation standard argue that those who contributed more should receive more, in proportion to the magnitude of their contribution.
Answer the following statement true (T) or false (F)
When applying the lower-of-cost-or-market rule to inventory valuation, market generally means
A) original cost, less physical deterioration. B) replacement cost. C) original cost. D) resale value.
Daniel is resigning from his position as a management consultant and would like a permanent record of his official resignation. Which of the following is the best communication channel for him to use to inform his supervisor of his resignation?
A) Letter B) E-mail message C) Voice mail message D) Text message