Successful Firms Must Focus on the Quality of the Products

question 108

Multiple Choice

Successful firms must focus on the quality of the products and services they offer. Which factor or factors contribute to the quest for quality?

• A) Global competition
• B) Consumer expectations
• C) Technological advances
• D) All of these choices are correct

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Definitions:

Financial Document

Written records that contain important financial information pertaining to a person or entity.

Owned And Owed

Refers to assets or resources that an entity possesses (owned) and obligations or debts that it is responsible for (owed).

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.

Market Share

denotes the percentage of an industry's sales that a particular company controls, indicating its competitiveness and influence.