When Identifying a Company's Market, Managers Need to Avoid the Mistake

question 69

Multiple Choice

When identifying a company's market, managers need to avoid the mistake of:

• A) finding out what customers need.
• B) thinking of a market as a group of customers with similar needs who will exchange money for goods and services that meet those needs.
• C) trying to identify specific target markets within a general market.
• D) describing their markets solely in terms of the products they sell.
• E) thinking of the issue from the customer's point of view.

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Definitions:

Network

A collection of interconnected devices or people that exchange data, resources, or communications.

PERT Analysis

Program Evaluation and Review Technique; a project management tool used to plan, schedule, and control complex tasks.

Critical Path

The sequence of stages determining the minimum time needed to complete a project, often identifying bottlenecks or delays.

Noncritical Activity

a task in a project that does not directly impact the project's final completion date due to existing time allowances or float.