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In Today's Customer-Focused Organizations, the Customer Is Recognized as the Final

question 55

Multiple Choice

In today's customer-focused organizations, the customer is recognized as the final authority of what constitutes quality. Nevertheless, customer tastes and feature preferences vary from customer to customer. Increased competition has placed a premium on customer satisfaction and the development of __________ products and services.


Definitions:

Cable Television

A system of delivering television programming to paying subscribers via radio frequency (RF) signals transmitted through coaxial cables.

Marginal Revenue

The increase in revenue that results from selling one additional unit of a product or service.

Marginal Revenue

The added income a company secures by disposing of an additional unit of a good or service.

Demand Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity demanded by consumers.

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