The key to a company's survival, profitability and growth in a highly competitive marketplace is:
A) to continue to increase quality and forgo profits.
B) to continue to identify and satisfy unfulfilled consumer needs better and sooner than the competition.
C) to sell what it's good at making.
D) to convince consumers that they should buy more products.

Question

Quizplus · Accepted Answer

In a highly competitive marketplace, it's essential for a company to constantly identify and satisfy unfulfilled consumer needs better and sooner than their competition. This approach helps the company to stay ahead of its competitors and attract more customers towards its products and services, which ultimately leads to profitability and growth. Focusing on quality and forgoing profits or forcing consumers to buy more products may not necessarily help the company survive in a competitive marketplace. Similarly, selling what a company is good at making may not always align with changing consumer needs and preferences.

The Key to a Company's Survival, Profitability and Growth in a Highly