Explain how businesses segment markets on the basis of loyalty
What will be an ideal response?
Companies group markets into four segments based on loyalty: Faithfully loyal (would never switch brands),
losable (generally loyal to the brand, but might switch), winnable (generally loyal to a competitor's brand, but
might switch to another brand), and lost (faithfully loyal to another brand).
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Which of the following is a period cost for a manufacturing company?
A) office rent B) wages of factory janitor C) insurance cost of production equipment D) raw materials
The primary role of today's managerial accountant is to:
A) enter data into the accounting system. B) collect data. C) analyze information and create knowledge. D) prepare tax returns.
Traditional overhead allocation methods as opposed to activity-based allocation methods work best when:
A) there are many different volume-based cost drivers. B) most costs are unit-level costs. C) overhead can be estimated. D) most costs are facility-level costs.
Which of the following is true of consideration for modifying a sales or lease contract under the Uniform Commercial Code?
A) An agreement modifying a contract needs no consideration to be binding. B) Modifying a contract requires consideration from the offeree's side. C) An offeror who modifies a contract must do so by providing reasonable consideration. D) The party providing the consideration must complete it within three months of acceptance.