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bekas [8.4K]
3 years ago
8

REI has a 100% satisfaction guarantee on its items. It allows customers to return products up to one year after purchase. This i

s an attempt by REI to reduce what type of cost?
Business
1 answer:
Vanyuwa [196]3 years ago
3 0

Answer: risk

Explanation: 100% satisfaction guarantee is a statement that if a customer of a product (or service) is not satisfied with the item purchased, then the producer will offer a full refund back to the customer. In this case REI allows this option for a period of up to 1 year after the sale was made.

REI utilises this option in an effort to reduce costs attributed to risk. For customers, this is a powerful tool as they are allowed to try the product, while knowing that if they don't like it then they can return it for a full refund. For REI, it increases customer trust as it allows customers to believe that the product is worth the sales price. It also reduces risk as REI is able to test the product out to actual customers and get a feel for if they like it, and what can be improved if needed.

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Answer:

Most flexible.

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Price is considered to be the variable in the marketing mix that is most flexible because unlike other elements of production, it can be easily changed. An organization can decide to either raise or lower it's price depending on the nature of the market.

In Marketing, price can be defined as the amount or value that is being exchanged usually money, in order to acquire goods in a business transaction.

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4 years ago
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6 0
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The relationship between the alpha level, the size of the critical region, and the risk of a type i error is the following: when the alpha level increases, the critical region increases and type I error increases.
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