Discuss how service firms can minimize non-monetary purchase costs
What will be an ideal response?
Service firms have several options available for reducing the non-monetary costs associated with service purchases. Operations experts can assist in reducing the time required to complete purchases, delivery, and consumption. Psychological costs can be reduced by eliminating or redesigning unpleasant or inconvenient procedures, educating customers, and retraining staff to be friendlier and more helpful. Physical efforts can be reduced during either the search or delivery process. More attractive visual environments, reduced noise, more comfortable furniture and curtailing offensive smells can decrease sensory costs.
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Personal sources of information normally inform the buyer, but commercial sources legitimize or evaluate products for the buyer
Indicate whether the statement is true or false
Explain why national marketers might pay particular attention to the preferences of consumers in large states such as New York and California
What will be an ideal response?
Which of the following is a reason that marketing to Hispanics has proven to be a challenge?
A. Hispanics prefer imports to American-made products; they tend to be ethnocentric in their product preferences. B. The Hispanic subculture is diverse. C. Hispanics don't consider advertising a credible source of product information. D. Assimilation is valued and the Hispanic community finds cultural target marketing offensive. E. Hispanics communities are spread across the entire country and therefore difficult to target.
Which of the following is not an assumption of cost volume profit analysis?
a. Selling price is constant. b. Variable cost/unit is constant. c. Fixed cost/unit is constant. d. Total fixed cost is constant. e. All of the answers are assumptions.