COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Planning purchases
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Managing purchases
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Inventory management
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Inventory control
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Detailed explanation-1: -The three types of decision-making are nominal, limited, and extended. These types of decision-making have different levels of purchase involvement. Nominal decision-making involves little purchase involvement, while limited decision-making required mid-ranged purchase involvement.
Detailed explanation-2: -Itβs nice to know that sales objectives have been narrowed down into four main categories: Market Coverage β sales teams ability to cover the market. Sales Force Capability β sales teams ability to close deals. Customer Focus β sales teams ability to attract and retain customers.
Detailed explanation-3: -The various models of consumers (economic view, passive view, cognitive view, and emotional view) depict consumers and their decision-making processes in distinctly different ways.