Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- 15) Which of the following types of customers generally have the lowest customer history? new customers unprofitable customers loyal customers captive customers repeat customersarrow_forwardCRM systems help businesses achieve which of the following business objectives? Automated accounting processes Enhanced customer intimacy Enhanced supplier intimacy Faster time to market with new products and servicesarrow_forwardMarketers define a need as the difference between aconsumer's actual state and some ideal or desired state.a. Trueb. Falsearrow_forward
- MARKET SEGMENTS Convenience driven consumers These are consumers that are looking to simplify the purchase, or its process, and are primarily seeking the benefit of convenience. Budget conscious shoppers These consumers may make their purchase decision based on the lowest price, or select the product that represents the best value for money. Focus on quality This is a segment of consumers who are interested in higher quality products and services. Many consumers in this segment believe that buying higher quality represents better value over time. Rational, value for money The consumers in this market segment are more involved in the purchase decision and look to make decisions on a “best product solution” basis. Attracted to strong brands This market segment is less involved in their purchase decision, and will rely upon a strong brand to guide their purchase decision. Environmentally aware This is an emerging segment consisting of people who take into account the…arrow_forwardCosts incurred to fix problems that are detected before the product/service is delivered to the customer are called Appraisal Costs External Costs Defect Costs Prevention Costs Internal Costsarrow_forwardBuyers have to accept that all products are safe O True Falsearrow_forward
- 120- Which of the following is not an advantage a firm receives from having a high market share? A- Economies of scale in production and distribution B- Grater brand recognition C- Less competitors D- Greater bargaining power with suppliersarrow_forwardService Characteristics does not include Group of answer choices Intangibility Variability Perishability Separabilityarrow_forwardincreases blood pressure Visual influences, such as color, have the capacity to impact consumers in the retail environment. For instance, we know that and makes consumers take riskier gambles, whereas calms people down and is associated with hospitals and spas. orange, yellow O red, blue blue, red O red, green O red, white O O Oarrow_forward
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