Companies That Define Their Missions in Terms of Products or Technologies

question 60

Multiple Choice

Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.

• A) products and technologies result in low returns on investment
• B) consumer preferences with regard to products and technology are difficult to predict
• C) consumer preferences for different product categories vary from time to time
• D) products and technologies eventually become outdated
• E) most consumers are not comfortable using sophisticated technology during the buying process

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Definitions:

Unenforceable

A term that describes a contract or clause that, due to certain defects or legal principles, cannot be legally compelled or enforced by a court.

Fairness of the Bargain

The equitableness or justness of the terms agreed upon in a contractual agreement.

Lawful Purpose

A lawful purpose is an action, contract, or transaction that is not in violation of any legal statutes or regulations.

Quantum Meruit

Quantum meruit is a legal principle allowing a party to recover the reasonable value of services provided, even in the absence of a formal contract.