Defining the Company's Business in Terms of the Benefits Customers

question 55

Essay

Defining the company's business in terms of the benefits customers seek,instead of in terms of goods and services,has three important advantages.List them.

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Definitions:

Promissory Note

A financial instrument comprising a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Financial Asset

An intangible asset representing a claim on future benefits or returns, examples include stocks, bonds, and bank deposits.

Real Asset

Physical or tangible assets that have value due to their substance and properties.

Pass-Through Mortgage Security

A type of asset-backed security that is secured by a pool of mortgage loans, where payments from borrowers pass through to investors.