List and define the four strategies of tangibilization. Give one example of each.
What will be an ideal response?
(1) Association means linking the service to a tangible person, place or object. The text gives the example of the "good hands" of Allstate. Other examples would be the McDonald's arches, Ronald McDonald and the Target bulls-eye. (2) Physical representation means showing tangibles that are directly related to the service, such as buildings, employees or equipment. Dell computers ads featuring employees is a good example. Also good examples would be banks that use their buildings as part of their logo. (3) Documentation means featuring objective data and factual information. Many chiropractors have adopted this method. Also this method is found used with weight loss programs. Students may also offer ads that use testimonials as examples. (4) Visualization is a vivid mental picture of a service's benefits or qualities, such as showing people on a vacation having fun. Disney excels in visualization.
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The time value of money concept recognizes that a dollar today is worth more than a dollar tomorrow. Which of the following is not a factor in causing the present value of cash inflows to diminish over time?
A. Earning potential, such as interest. B. Risk of uncollectibility. C. Inflation reduces future purchasing power. D. Current expenses.
The Change Fund is debited when the change fund is initially set up
Indicate whether the statement is true or false
An expenditure to improve an asset can be added to the depreciable basis of that asset if the expenditure extends the life of the asset
Indicate whether the statement is true or false
A(n) ________ occurs when unionized employees who have a labor dispute with their employer shun another employer to force it to cease doing business with their employer
A) sit-down strike B) partial strike C) secondary boycott D) economic boycott