Lifestyle Forces That Shape Customer Needs and Market Demand Include

question 31

True/False

Lifestyle forces that shape customer needs and market demand include how the product is used,when it is used,and how much it is used.

---

Definitions:

Demand Curve

A graphical representation that displays the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.

Average Total Cost

The sum of all production costs (both fixed and variable) divided by the amount of product made.

ISO Quality Standards

A series of frameworks and guidelines established by the International Organization for Standardization to help companies ensure their products and services meet customer and regulatory requirements.

Total Quality Management

An extensive management approach focused on continuously improving the quality of products and services to achieve customer satisfaction.