The communications gap can be reduced by managing customer expectations.
Answer the following statement true (T) or false (F)
True
The communication gap refers to the difference between the actual service provided to customers and the service that the firm's promotion program promises. Firms close the communications gap by managing customer expectations and promising only what they can deliver.
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The condensed flexible budget of the Evergreen Company for the year is given below:Direct labor-hours Direct labor- hoursOverhead costs: 30,000 40,000 50,000 Variable costs$75,000 ? ? Fixed costs ? ? $320,000 The company produces a single product that requires 2.5 direct labor-hours to complete. The direct labor wage rate is $7.50 per hour. Three yards of raw material are required for each unit of product, at a cost of $5 per yard.Assume that the company chooses 50,000 direct labor-hours as the denominator level of activity, but actually worked 48,000 hours during the year, producing 18,500 units.Actual overhead costs for the year are: Variable costs$124,800 Fixed costs 321,700 Total overhead costs$446,500 Required:(Be sure to indicate whether the variances
are favorable or unfavorable.)a. Compute the variable overhead price variance and the variable overhead efficiency variance.b. Compute the fixed overhead spending (budget) variance and the production volume variance. What will be an ideal response?
________ is a technique for systematically changing parameters in a model to determine the effects of such changes
Fill in the blanks with correct word
Which of the following statements is true regarding performance measures?
I. They are NOT necessary for performance improvement. II. They should be appropriate and useful. III. They should be simple and easy for users to understand. A) I and III only B) II and III only C) I and II only D) I, II and III
Assume that Federated Stores, whose credit card billings total $120 billion per year, were to
implement a lockbox arrangement that would speed up the collection of its credit card billings by 2 full days. If Federated could earn 3.5% on its marketable securities, how much would the firm earn per year from such a lockbox arrangement? Assume a 365-day year. A) $316.99 million B) $183.50 million C) $230.14 million D) $244.58 million