Which of the following economic benefits are associated with maintaining relationships with current customers?
A. Small increases in customer retention can translate into large increases in profits.
B. Existing customers spend less money than new customers.
C. Order processing costs are higher for current customers.
D. All of these are benefits associated with maintaining customer relationships.
Answer: A
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The FIFO method of process costing will produce the same cost of goods transferred out amount as the weighted average method when
a. the goods produced are homogeneous. b. there is no beginning Work in Process Inventory. c. there is no ending Work in Process Inventory. d. beginning and ending Work in Process Inventories are each 50 percent complete.
Which of the following is a step to creating and delivering the customer value model?
A) creating the customer's value needs B) creating the value proposition C) quantifying the value proposition D) questioning the value proposition E) presenting the value proposition
Jill is considered a(n) ________ when it comes to wine because she has information about many kinds of wines, places to shop, and other facets of the wine market. Her friends always go to her when they need something for a special occasion.
A. subculture B. market maven C. cottage industry D. social class E. cognitive dissonance
A forecast is defined as a(n):
a. prediction of future values of a time series. b. quantitative method used when historical data on the variable of interest are either unavailable or not applicable. c. set of observations on a variable measured at successive points in time. d. outcome of a random experiment.