There is a debate about whether students in business education are "customers" or products that need to be branded.
Answer the following statement true (T) or false (F)
True
The perennial question in business education is, "Who is the customer?" One approach frames the companies that hire a business school's students as primary customers, which would seem to imply the students are a product of the business school rather than its customers.
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Using suitable examples, briefly compare and contrast the concepts of needs, wants, and demands. Discuss how these concepts relate to marketing practices
What will be an ideal response?
Project Paso Vineyards processes grapes into champagne, which it bottles, corks, and places on shelves in underground caverns to age for several years. During the aging process, the winemakers hand-turn the bottles a quarter rotation every few months; also, at fixed intervals, they release yeast gases to preclude unwanted fermentation. Assume that Project Paso contracts to sell a quantity of
champagne to a customer for €30 million. Under the terms of the contract, Project Paso will store the champagne in its caverns and perform all necessary functions associated with the aging process (for example, turning the bottles and releasing yeast gases). The selling price includes the costs of producing the champagne and providing services during the aging process. The customer pays Project Paso €15 million at the beginning of the aging and storage process, and agrees to pay the remainder in five years upon delivery of the champagne.When should Project Paso Vineyards recognize revenue from selling the champagne? a. Project Paso Vineyards should delay revenue recognition until it delivers the champagne to the customer. b. Project Paso Vineyards should recognize revenue when it sells the champagne to the customer. c. Project Paso Vineyards should recognize one fifth of the revenue per year after it sells the champagne to the customer. d. Project Paso Vineyards should recognize one half of the revenue 2 1/2 years after it sells the champagne to the customer. e. none of the above.
Unearned revenues are amounts received in advance from customers for future products or services.
Answer the following statement true (T) or false (F)
The maximum number of units that a facility can produce or serve over a period of time is referred to as?
a. Load b. Capacity c. Stock d. Inventory