A Recommended Way of Understanding Customer Needs Is to

question 10

Multiple Choice

A recommended way of understanding customer needs is to

• A) give each customer a needs-analysis survey.
• B) conduct focus groups with 10 percent of the customers.
• C) probe for information at point of sale.
• D) imagine you are the customer complaint department.

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Definitions:

Working Capital

The variance between a firm's existing assets and liabilities, showcasing the immediate financial wellbeing and efficiency in operations of the company.

Capital Budgeting

The strategy of investigating and selecting long-term investments that correspond with the pursuit of amplifying shareholder wealth.

Incremental Sales

Additional sales generated by a new action or decision, beyond what would have been sold without it.

Cash Operating Expenses

Expenses that a company pays out in cash during the operating cycle, excluding non-cash expenses like depreciation.