How Does the Textbook Define the Process of Improving a Product

question 82

Multiple Choice

How does the textbook define the process of improving a product or service for a customer?

• A) disintermediation
• B) value substitution
• C) adding value
• D) margin enhancement

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Definitions:

Natural Concept

A mental representation of objects or events from real-life experiences, as opposed to definitions precisely defined by rules.

Cohort

A group of individuals sharing a common characteristic, typically born around the same time, and studied to observe how specific variables affect them over time.

Concept

A mental category used to represent a class or group of objects, people, organizations, events, situations, or relations that share common characteristics or attributes.

Template

A preset model or pattern that serves as a guide for the creation or replication of objects, documents, or designs.