Which statement is true of business markets?
A. Products or services are sold for personal consumption.
B. Goods sold in consumer markets are not sold in business markets.
C. One customer can account for a huge volume of purchases.
D. Relationship marketing is given the least importance.
Answer: C
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Retailers address the conflict between consumers wanting or needing only one item and manufacturers wanting to produce and ship in quantity by providing
A. storage. B. discounting. C. simplicity. D. reciprocity. E. extreme value labeling.
What is the best first step to take after selecting a new business venture?
a. Begin purchasing inventory. b. Look at real estate properties to locate the office. c. Hire employees to divide the workload. d. Write a business plan.
Negotiable instruments:
a. include drafts, promissory notes, assignments, and certificates of deposit. b. are used primarily for smaller transactions. c. in the form of checks have decreased in use since 2000. d. have increased in usage to the point where they are now approximately equal to usage of cash for payments.
An item is used in Process B at a rate of 150 units per day. Process A works one shift per day (480 minutes) and supplies Process B's requirements. What takt time is required in Process A to meet Process B's demand?
What will be an ideal response?