The Internet has pushed prices lower in all major industries and eliminated price dispersion.
Indicate whether the statement is true or false
Question 2_____ is NOT a common factor considered when selecting a merchandise source.
a. Trade terms
b. Fabric colors used
c. Consumers' perception of the manufacturer's reputation
d. Projected markup on the merchandise
e. After-sale service from the vendor
Question 3High-quality service is service that meets or exceeds customers' expectations.
Indicate whether the statement is true or false
Question 4If a retailer has set its primary objective as gaining 5 percent of market share, it is focusing on a _____ objective.
a. productivity performance
b. consumer choice
c. merchandise productivity
d. market performance
e. competition-oriented
Question 5A supply chain is a set of institutions that moves goods from the point of production to the point of consumption.
Indicate whether the statement is true or false
Question 6A firm can make the highest profit possible when price is established so that marginal revenue exceeds marginal cost.
Indicate whether the statement is true or false
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