An Accurate Understanding of Customer Needs Allows a Company to

question 63

Multiple Choice

An accurate understanding of customer needs allows a company to

• A) create customer value.
• B) meet financial objectives.
• C) respond to competitive threats.
• D) perfect advertising messages.
• E) develop media plans.

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Definitions:

Liability

A financial obligation or debt owed by a business to another entity, typically due for repayment in the future.

Company

A legal entity formed by individuals, stockholders, or shareholders, with the purpose of operating for profit.

Economic Resource

An asset or input used in the production of goods and services with the capability to provide future economic benefit.

Past Transaction

An action or activity, specifically financial or commercial, that has occurred in the past.