Before the Firm Decides What Products to Offer and What

question 38

Multiple Choice

Before the firm decides what products to offer and what benefits and features they will have, the firm must decide all the following questions EXCEPT:

• A) who the firm should serve.
• B) when the customer's needs should be satisfied.
• C) what needs the firm should satisfy.
• D) what core competencies are needed to satisfy customer needs.

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Definitions:

Feedback Value

The information obtained from assessing a decision or process that is used to make improvements or adjustments.

Relevance

A characteristic of financial information that is capable of making a difference in the decisions made by users.

Decision Usefulness

The quality of financial information that helps users make informed decisions regarding investment, credit, and similar activities.

General Objective

The overarching, broad goal that guides decision making and strategy within an organization or project.