One of the Reasons Given for the Decline of the Passenger

question 107

Multiple Choice

One of the reasons given for the decline of the passenger rail industry in Canada is the fact the industry defined its mission as trains and not as transportation sources.What did the railroad industry fail to do?

• A) empower the consumer
• B) ignore the marketing concept of serving customer needs and wants
• C) define its mission in terms of the benefits its customers seek
• D) have a sales orientation

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Definitions:

Validity of Contract

The legal enforceability of a contract, determined by its adherence to legal requirements such as agreement by competent parties, lawful subject matter, and consideration.

Rejected Offer

A proposal that has not been accepted by the party to whom it was extended.

Legal Obligation

A duty enforced by law, requiring an individual or entity to conform to certain actions or to refrain from certain acts.

Unilateral Mistake

A situation in contract law where only one party is mistaken about a material fact regarding the contract terms or subject matter.