The Product area of the marketing mix may involve a service and/or a physical good, which satisfies some customers' needs.
Answer the following statement true (T) or false (F)
True
The Product area is concerned with developing the right product, which may involve a physical good, a service, or both.
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Using the following information, compute the standard unit cost of a 20 pound bag of dog food: Direct materials quantity standard 20 pounds per unit Direct materials price standard $0.02 per pound Direct labor time standard 0.1 hour per unit Direct labor rate standard $11.60 per hour Variable overhead rate standard $2.50 per machine hour Fixed overhead rate standard $1.50 per machine hour Machine
hour standard 0.25 hours per unit a. $2.56 b. $2.22 c. $2.16 d. $2.81
An experiment consists of determining the speed of automobiles on a highway by the use of radar equipment. The random variable in this experiment is a _____ random variable.
A. discrete B. continuous C. mixed type D. multivariate
How does positive reinforcement become extinction?
a. positive reinforcement cannot become extinction b. when a desirable action is not rewarded c. when the reward loses its value d. when a third party receives an unforeseen negative consequence
Which activities belong in the marketing department?
A. Relies on information from operations to understand inventory, place orders, and forecast consumer demand. B. Records, measures, and reports monetary transactions. C. Tracks strategic financial issues, including money, banking, credit, investments, and assets. D. Supports the sales by planning, pricing, and promoting goods or services.