A Major Strategy for Competitive Success Is Satisfying Customer Needs

question 29

True/False

A major strategy for competitive success is satisfying customer needs at lower costs than other firms are able to achieve-thus allowing the use of cost savings to develop new lines of business or service for better satisfying customers, as well as for reducing costs for the customer for products or services.

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Definitions:

Heterophilous

characterized by or involving interaction between individuals that are different in some demographic or psychological attributes.

Polymorphic

In computing, it refers to the ability of objects to process data differently based on their data type or class; in biology, it indicates the occurrence of two or more clearly different morphs or forms.

Monomorphic

Characterized by having a single shape or form, often used in the context of genes or polymorphism.

Reactance

A psychological response wherein individuals feel the need to regain freedom or control when they perceive it as being taken away.