A product
A. is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
B. is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.
C. consists of the benefits or customer value received by its sellers.
D. is the cluster of benefits that an organization promises customers to satisfy their needs.
E. consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
Answer: B
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Which of the following will result in an unfavorable direct labor cost variance?
A) actual direct labor hours exceed standard direct labor hours B) actual direct labor hours are less than standard direct labor hours C) the actual direct labor cost per hour exceeds the standard direct labor cost per hour D) the actual direct labor cost per hour is less than the standard direct labor cost per hour
Mandisa Sounds, Inc, a specialty retailer of customized audio systems for automobiles, installed a perpetual inventory system in the second quarter of 2011. The new system allowed the firm to adjust its merchandise inventories to sales patterns more
effectively and to prepare monthly financial statements. Although the system led to an improvement in sales and income, the gross margin on the monthly income statements was falling below both management's expectations and the industry average. At the end of 2014, a physical inventory revealed that actual merchandise inventory was considerably lower than the perpetual inventory records indicated. The merchandise inventories of some stores were off more than others, but all had deficiencies. What probably caused these losses and what steps could be taken to prevent them in the future?
What do marketers call a marketing phenomenon that facilitates and encourages people to pass along a marketing message?
A) connector contact B) integrated marketing C) marketing mix D) media mix E) viral marketing
The aim of the ______ strategy is to maintain a constant production rate.
a. level strategy b. product strategy c. chase strategy d. mixed strategy