? Question 1 2 out of 2 points A__________is a customer benefit package (CBP) feature that departs from the standard CBP and is normally location specific or firm specific. Selected Answer: c. v ...

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? Question 1
2 out of 2 points
A__________is a customer benefit package (CBP) feature that departs from the standard CBP and is
normally location specific or firm specific.
Selected
Answer: c.
variant
Correct
Answer: c.
variant
Response
Feedback: Rationale:
Correct
A variant is a CBP feature that departs from the standard CBP and is normally location
specific or firm specific. A variant might be a fishing pond where kids can fish while
parents shop for vehicles. See 1-5: Customer Benefit PackagesCustomer Benefit
Packages
? Question 2
2 out of 2 points
Identify a difference between goods and services.
Selected
Answer: a.
Goods can be stored as physical inventory, whereas services cannot be stored as
physical inventory.
Correct
Answer: a.
Goods can be stored as physical inventory, whereas services cannot be stored as
physical inventory.
Response
Feedback: Rationale:
Correct. Goods can be stored as physical inventory, whereas services cannot be stored
as physical inventory. In goods-producing firms, inventory can be used to decouple
customer demand from the production process or between stages of the production
process and ensure constant availability despite fluctuations in demand. Service firms
do not have physical inventory to absorb such fluctuations in demand. See 1-3:
Understanding Goods and ServicesUnderstanding Goods and Services
? Question 3
2 out of 2 points
A pair of running shoes is an example of a durable good.
Selected
Answer:
False
Correct
Answer: Fals
e
Response
Feedback: Rationale:
Correct. A pair of running shoes is an example of a nondurable good. A nondurable
good is one that is no longer useful once it's used, or lasts for less than three years. See
1-3: Understanding Goods and ServicesUnderstanding Goods and Services
? Question 4
2 out of 2 points

In the context of the pre- and postproduction services perspective of a value chain, which of the
following are postproduction services of a value chain?
Selected
Answer: b.
Recycling and remanufacturing initiatives
Correct
Answer: b.
Recycling and remanufacturing initiatives
Response
Feedback: Rationale:
Correct. Postproduction services of a value chain include recycling and
remanufacturing initiatives. The focus here is on keeping an existing customer. See 1-
7: Value Chain FrameworksValue Chain Frameworks
? Question 5
2 out of 2 points
If the value ratio for a good or service is high, the good or service is perceived favorably by
customers.
Selected
Answer:
True
Correct
Answer: Tru
e
Response
Feedback: Rationale:
Correct. If the value ratio for a good or service is high, the good or service is perceived
favorably by customers, and the organization providing it is more likely to be
successful. Value is the perception of the benefits associated with a good, service, or
bundle of goods and services in relation to what buyers are willing to pay for them. See
1-4: The Concept of ValueThe Concept of Value
? Question 6
2 out of