Which of the following statements is true about customer needs?
A)Companies that meet the need for communication by manufacturing mobile handsets or mobile ham radios are considered part of the same industry.
B)Understanding them can be very helpful in defining the boundaries of an industry.
C)They should be addressed only when many customers have similar needs that require attention.
D)Two firms cannot be considered part of the same industry even if their products do the same job for customers.

Question

Quizplus · Accepted Answer

Understanding customer needs can help in defining the boundaries of an industry, as companies that meet similar needs can be considered part of the same industry. Option A is incorrect as companies manufacturing mobile handsets and mobile ham radios belong to different industries. Option C is incorrect as individual customer needs can also be important to address. Option D is incorrect as two firms that produce similar products for customers can be considered part of the same industry.

Which of the Following Statements Is True About Customer Needs