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Author Question: What is often the largest component of logistics costs? a. Inventory costs b. Transportation costs ... (Read 227 times)

@Brianna17

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on: Jun 28, 2018
What is often the largest component of logistics costs?
 a. Inventory costs
  b. Transportation costs
  c. Shipper-related costs
  d. Administrative costs

Question 2

Explain how price serves as a cue to quality.


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upturnedfurball

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Reply #1 on: Jun 28, 2018
Answer to Question 1

b

Answer to Question 2

Counter to the anticipated economic effect of higher prices causing a decrease in demand, for some products and services, higher prices can make a purchase seem more appealing. For some purchases, customers use price as a cue to quality, implicitly reasoning that the brand can command a high price because its quality is so good. That argument assumes a belief in the efficiency of the marketplace, yet many studies have demonstrated that there is no correlation between price and quality for most product categories. But our beliefs persist. A price's role as a cue is so strong that prices are known to contribute to the formation of expectations prior to a purchase. A price is a clear, tangible cue, and higher prices set higher expectations.


@Brianna17

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Reply #2 on: Jun 28, 2018
Thank you :)


upturnedfurball

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Reply #3 on: Jun 28, 2018
Happy to help you


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