Company Executives Were Perplexed When the Company's Scotch-Brite Floor-Cleaning Product

question 58

Multiple Choice

Company executives were perplexed when the company's Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines.A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet.3M changed the shape of the pad to a foot and sales soared.3M changed its product in response to a Filipino __________.

• A) value
• B) belief
• C) custom
• D) idiosyncrasy
• E) demographic pattern

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Definitions:

Privately Owned

Businesses or properties owned by individuals or corporations rather than by the government or public entities.

Publicly Controlled

Operations or organizations that are owned, operated, or regulated by the government or public authorities.

Economic Welfare

The overall well-being of individuals and communities in terms of wealth, health, and happiness, often assessed by indicators like GDP and quality of life measures.

Federal Reserve Bank

The central banking system of the United States, responsible for setting monetary policy, issuing currency, and regulating financial institutions.