The Key to Successfully Competing Is Understanding What Customers Want

question 33

Multiple Choice

The key to successfully competing is understanding what customers want and then __________ satisfy those wants.

• A)training production workers to
• B)finding suppliers who can
• C)finding the best way to
• D)designing products and services that
• E)hiring enough workers to

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Definitions:

Manufacturer

An entity or business that produces goods, usually on a large scale, involving machinery, tools, and labor.

Retailer

An entity that sells goods or merchandise directly to consumers through various channels, including physical stores and online platforms.

Overstock Quantity

An excessive amount of inventory that exceeds the demand, often leading to increased storage costs and potential waste.

Profits Increase

An upward movement in the net financial gains of a business, often resulting from increased revenue, reduced costs, or both.