Which of the following is an administrative control?
A. Performance evaluation
B. Accuracy of the recording procedures
C. Maintenance of accurate inventory records
D. Keeping cash in a safe
Answer: A
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Explain the pricing strategy being implemented when a retail store places the store's generic brand items next to the national brand items when the national brand items have a slightly higher price than the generic brand item
Why would a retailer do this?
A retailer can track the results of a frequent shopper program through data-base management
Indicate whether the statement is true or false
The owner of an amusement park has decided to open a second entry booth and hire another employee to service customers entering the park. Customers arrive at the rate of 20 per hour and will wait in a single line until one of the two employees is available to provide service. The average service time of both employees is 2 minutes to provide service. The arrival rate follows Poisson distribution, and the service time follows a negative exponential distribution. Determine the average number of customers waiting in the system.
a. 0.75 b. 0.89 c. 0.08 d. 0.98
Which of the following is true of repositioning?
A. It involves avoiding any alterations with the brand's existing position. B. It occurs only in companies that enjoy a monopolistic market structure. C. It is aimed to stem a decline in sales or counter stagnant sales. D. It must be practiced only during an economic downturn situation. E. It usually occurs due to a boom in the company's sales.