Operational Excellence Involves Knowing Your Customers' Needs and Tailoring Your

question 59

True/False

Operational excellence involves knowing your customers' needs and tailoring your product to meet those needs.

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Definitions:

Generic Competition

Competition between brands or products that are not differentiated by a patent or specific features, often based solely on price.

Product Variants

Different versions of a product that a company offers, differing in features, sizes, or other characteristics to satisfy various customer needs.

Product Attributes

The characteristics or features of a product, including quality, price, design, and brand name, which can influence consumers' buying decisions.

Variant

A version of a product that is slightly different from the basic model to cater to different customer needs or preferences.