Describe the concepts of normative influence and comparative influence among reference groups
What will be an ideal response?
Normative influence occurs when the reference group helps to set and enforce fundamental standards of conduct. In contrast, comparative influence occurs when the group (because of its nature or expertise) impacts decisions about specific brands or activities.
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A firm using an operation costing system employs process costing processes exclusively
Indicate whether the statement is true or false
Which of the following is an example of services differentiation?
A) Berry's has an intensive training program for its customer-facing staff, to ensure a consistent service standard. B) The Swan Hotels use a distinctive signature fragrance in all outlets so that customers can associate the fragrance with the hotel. C) JEK's sophisticated customer database allows the company to handle queries and product returns much faster than competitors. D) RTZ shifted its products from supermarket aisles to exclusive stores as it realized that customers were willing to pay more in stores. E) Hayley's found success by allowing buyers to customize the color and some features of its appliances before buying them.
Which statement about the formula sales presentation is INCORRECT?
A. Modified rebuy situations are a good time to use the formula sales presentation method. B. The formula sales presentation is based on the AIDA procedure of developing and giving the sales presentation. C. The formula sales presentation is the best method to use when the prospect allows a few minutes for the presentation. D. To successfully use the formula sales presentation method, the salesperson must have previously identified the prospect's needs and wants. E. The customer has the largest amount of talking time during the latter half of the presentation phase of the formula sales presentation.
_____ is a residual interest or claim—that is, the owners (shareholders) of a firm have a claim on assets not required to meet the claims of creditors
a. Retained Earnings b. Shareholders' equity c. Additional Paid-in-Capital d. Deficit e. Par Value