When Manufacturing a Product That Serves Universal Needs, a Company

question 107

Multiple Choice

When manufacturing a product that serves universal needs, a company should remember that it

• A) becomes necessary to customize the product to suit small consumer groups.
• B) becomes necessary to accommodate demands for local responsiveness.
• C) increases the attractiveness of concentrating production at an optimal location.
• D) is difficult to serve national differences in consumer taste and preference.
• E) is always attractive to globally disperse production to all major markets.

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Definitions:

Stakeholder Obligations

Responsibilities or duties a company owes to its stakeholders, including customers, employees, investors, and communities.

Pricing Objectives

Goals that a company aims to achieve through its pricing strategies, such as maximizing profit, increasing market share, or discouraging competition.

Survival

The act of continuing to live or exist, often in spite of an accident, ordeal, or challenging circumstances.

Price Matching

A competitive strategy where a retailer promises to match lower prices offered by competitors on identical products to retain customers.