Which of the following is not a basic assumption of the wheel of retailing?
a. A large number of price-sensitive shoppers exist.
b. Retailers increase operating costs over time to improve their image.
c. New institutions are able to reduce operating costs.
d. Related-item merchandising increases sales because of one-stop shopping appeals.
d
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When demand hardly changes with a small change in the price of a product, the demand for the product is best described as ________
A) elastic B) flexible C) inelastic D) variable E) cyclical
QFD does each of the following except
A) acts as a fundamental foundation to understand customer requirements. B) links customer requirements to project planning, analysis, design, and implementation. C) provides project scope and perceived value from the customer perspective. D) documents the flow of data through a system, where it is stored, and when it enters and leaves the system.