When Companies Constantly Take the Pulse of Changing Customer Needs

question 10

Multiple Choice

When companies constantly take the pulse of changing customer needs and wants,then quickly adapt to meet them,they are able to ________.

• A) create marketing after products are developed and produced
• B) create a buyer's market
• C) convince customers to buy existing products
• D) satisfy customer preferences before they are expressed or even known by customers
• E) convince customers to purchase products that don't really appeal to them

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Definitions:

Forbearance

Forbearance is the action of refraining from enforcing a right, obligation, or debt in a legal agreement, usually as an act of leniency by the creditor.

Sufficient Consideration

A legal concept indicating that the value exchanged in a contract is recognized as adequate, making the contract binding and enforceable.

Illusory Promise

A situation in which a party appears to commit to something but really has not committed to anything. It is not a promise and thus not consideration.

Promissory Estoppel

A legal principle that prohibits a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.