What type of advantage does observation offer that surveys and interviews do not?
A) Observations take less time to conduct
B) Observations provide objective numerical data
C) Observations identify why something is done, not just how
D) Observations can provide more accurate information on how something is done
E) Observations can be used as secondary research
Answer: D
Explanation: D) Observation offers advantages over self-reported data from surveys and interviews. When people describe and evaluate a past experience in a survey or interview, they may not completely remember what happened, or they may want to give you the answer they believe you want to hear. Direct observation of actual behavior can give you much more accurate results.
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Approving a price reduction because goods are damaged is an example of __________________________
Fill in the blank(s) with correct word
Which of the following conditions is most likely essential for implementing a successful market-skimming pricing strategy for a product?
A) The product's quality and image must support its high price. B) Lower-priced alternatives can enter the market easily. C) Low prices promote more market growth than high prices. D) The product's price matches its manufacturing costs. E) A low-price position of the product is maintained.
A(n) ________ occurs when customers decide that two different brands of pain reliever have the same product quality because they have basically the same product characteristics and similar prices
A) clouding effect B) assimilation effect C) bundling effect D) contrast effect E) price-placebo effect
Which of the following statements is true of process costing?
A) It uses one Work-in-Process Inventory account. B) It tracks and assigns both period costs and product costs to units produced. C) It accumulates product costs by production departments. D) It assigns manufacturing overhead costs to products only in the last production process.