Firms That Listen to Existing Customers and Tailor Offerings Based

question 9

True/False

Firms that listen to existing customers and tailor offerings based on this input are far more likely to identify potentially disruptive technologies than those that experiment with products that existing customers do not demand.

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Definitions:

Customer Base

The group of consumers who repeatedly purchase the goods or services of a business, fundamentally driving its revenue.

Market-Creating Innovation

Innovations that introduce new products or services, creating new demand and potentially new markets.

Lower-Income Segment

A portion of the population or market characterized by lower earnings, often targeted by businesses offering more affordable products or services.

Developing Economies

Countries that are in the process of industrialization, with relatively low per capita income and seeking to improve their economic base.