If a Mattress Manufacturer Redefines the Business Mission as "A

question 133

Multiple Choice

If a mattress manufacturer redefines the business mission as "a good night's sleep" rather than stating it as "the manufacture of high-quality mattresses," what is the likely result?

• A)It will not stimulate an awareness of changes in consumer desires.
• B)It will be too broad a statement to be of any real use in serving customers.
• C)It will attract the high end buyers where more profits are made.
• D)It will help ensure the firm retains its focus on consumers and does not become preoccupied with its products and internal needs.

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Definitions:

Endowment Policy

A life insurance contract designed to pay a lump sum after a specified term (on its 'maturity') or on death, often used as a saving or investment strategy.

Life Policy

A life policy is an insurance agreement that pays out a sum of money either upon the death of the insured person or after a set period.

Premiums Payable

The amount due for payment on an insurance policy.

Deductible

The amount a policyholder must pay out of pocket before an insurance company will cover the remaining costs of a claim.