Companies That Define Their Missions in Terms of Products or Technologies

question 60

Multiple Choice

Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.

• A) products and technologies result in low returns on investment
• B) consumer preferences with regard to products and technology are difficult to predict
• C) consumer preferences for different product categories vary from time to time
• D) products and technologies eventually become outdated
• E) most consumers are not comfortable using sophisticated technology during the buying process

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Definitions:

High Wages

Refers to compensation levels that are significantly above the average for a job or industry, typically in response to skill shortages, high demand, or exceptional performance.

High Productivity

The state of achieving a significant amount of output per unit of input, enhancing efficiency and effectiveness in production or work.

High Earnings

Refers to income levels that are significantly above the average or median for a given demographic or region.

Economic Progress

The overall growth and development of an economy, often marked by an increase in wealth, improvements in the standard of living, and technological advancement.