When Companies Serve Customers Who Are Willing to Pay a Premium

question 43

Multiple Choice

When companies serve customers who are willing to pay a premium to get precisely what they want and the company responds quickly to satisfy these customers' needs, the company has achieved ________.

• A) customer intimacy
• B) product differentiation
• C) operational excellence
• D) product leadership
• E) focus

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Definitions:

Organization Policy

Guidelines, rules, and procedures established by an organization to regulate its operations and guide the behavior of its members.

Study Ethics

The examination of moral principles and issues arising in educational environments, focusing on fairness, honesty, and respect.

Virtue

A trait or quality deemed to be morally good and thus is valued as a foundation of good moral being.

Prudence

The practice of being careful, cautious, and wise in handling practical matters, considering the future consequences of actions.