The fast food industry from Back Yard Burgers to KFC promises good food delivered quickly. The value of the consumer's time:
A) is less important than productions costs.
B) is a key component in creating value for the firm and the consumer.
C) is usually so low that fast food is unimportant in the marketplace.
D) must be discounted to make sure it is negative.

Question

Quizplus · Accepted Answer

The fast food industry's value proposition is built on providing good food delivered quickly, which indicates that the value of the consumer's time is a critical element in creating value for both the consumer and the firm. Therefore, option B is the correct answer. Option A and C are incorrect since they suggest that the value of the consumer's time is not a significant factor. Option D is also incorrect since the value of the consumer's time cannot be discounted to make sure it is negative.

The Fast Food Industry from Back Yard Burgers to KFC