Name and describe one respected technique made popular by Six Sigma that allows managers to understand and measure quality improvements
Student answers should name and describe one of the two respected techniques discussed in the chapter:
· Benchmarking is the measurement of the gap between the quality of a company's process and the quality of a parallel process at the best-in-class company. For example, Motorola improved its order-processing system by studying order processing at Lands' End.
· Process mapping is a method of using a visual diagram to indicate process inputs, outputs, constraints, and flows to help managers identify unnecessary efforts and inefficiencies in a business process. Quality problems and their causes are visually tracked using charts and diagrams. As a result, customer satisfaction with a product or service and with the buying experience, both before and after the sale, is enhanced.
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When Betty asked a sales representative to provide free shipping and a 40 percent reduction in price, the sales representative was stunned. Betty's partner then informed the representative that free shipping and a 10 percent reduction in price would be more reasonable. What negotiating strategy were Betty and her partner using?
What will be an ideal response?
An efficient method of estimating area market potentials makes use of the ________, Developed by the US Bureau of the Census in conjunction with the Canadian and Mexican governments. It classifies all manufacturing into 20 major industry sectors and further breaks each sector into a six-digit, hierarchical structure.
A) Nielsen Media Research B) Multiple-Factor Index Method C) Brand Development Index D) Market Buildup Method E) North American Industry Classification System
Heightened risk of material misstatement causes the auditor to perform audit procedures closer to year end
a. True b. False Indicate whether the statement is true or false
Describe how marketers use multiple segmentation bases to their advantage
What will be an ideal response?