Firms that put their customers last by following a narrow product focus do not capture the full benefit of optimal prices.

Question

Quizplus · Accepted Answer

Firms that only focus on their products and not on their customers' needs fail to understand how much their customers are willing to pay for their products. By not considering customer value, firms may end up offering suboptimal prices that do not capture the full value of their products. Thus, putting customers first is crucial for firms that want to capture the full benefit of optimal prices.

Firms That Put Their Customers Last by Following a Narrow