Assignment task:
Company XYZ is a well-established business that specializes in manufacturing and selling various consumer products. The company is looking to enhance its understanding of consumer preferences in order to develop and market products that align with customer demands. They believe that by knowing what people want, they can increase their sales and overall profitability. Based on this case study, please answer the following multiple-choice question: Why is it useful for businesses to know what people want? Question options: To reduce production costs. To compete with other businesses. To improve employee morale. To increase customer satisfaction and loyalty.