Product-Oriented Vision Statements Are Better Suited Than Customer-Oriented Vision Statements

question 33

True/False

Product-oriented vision statements are better suited than customer-oriented vision statements for helping companies to adapt to changes in the external environment.

---

Definitions:

TAM, SAM, SOM

stands for Total Addressable Market, Serviceable Available Market, and Service Obtainable Market, respectively, and they are metrics used to estimate the potential market size and revenue opportunity for a product or service.

Disposable Income

The amount of income left to an individual after taxes have been paid, available for spending, saving or investing.

Product Application

Goods or services created to meet a demand, thereby providing a solution to a customer problem.

Market Demand

The total volume of a product or service desired by consumers at a particular price and time.