Companies Which Successfully Minimize Product and Service Failures

question 57

Multiple Choice

Companies which successfully minimize product and service failures:

• A)can credit the development of complex accounting systems for their success.
• B)depend on high levels of employee motivation for their low failure rates.
• C)are often known for their emphasis on selling efforts and providing high rewards for sales teams.
• D)have determined how to create,communicate,and deliver value by "hearing the voice" of the consumer.
• E)tend to put a greater focus on defining the best set of product dimensions to match their core competencies.

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Definitions:

Consumer Incomes

The total amount of money earned by consumers from various sources like wages, investments, and government benefits, which affects their purchasing power and economic behavior.

Normal Good

A good for which demand increases as the income of the consumer increases, all other factors being equal.

Substitutes

Products or services that can replace each other in use, where an increase in the price of one leads to an increase in demand for the other.

Complements

Goods that are often used together, where the increase in the consumption of one leads to an increase in the consumption of the other.