Which of the following best describes a company's mission statement?

A. The cost structure of a company

B. The unique value a product or service provides to customers

C. The market share of a company

D. The pricing strategy of a company

A. The ability to offer the lowest prices in the market

B. A unique strength that allows a company to outperform its competitors

C. A temporary boost in market share

D. A company's brand recognition

A. Advertising directly to consumers

B. Offering trade promotions to retailers

C. Utilizing social media influencers

D. Implementing a customer loyalty program

A. Focus on product innovation regardless of customer needs

B. Prioritize customer needs and market trends

C. Reduce marketing expenditures to increase profit margins

D. Rely heavily on mass production techniques

A. Demographic

B. Geographic

C. Psychographic

D. Behavioral

A. Sales and profits are at their highest

B. The product is launched and awareness is created

C. The market is saturated and competition is intense

D. The product is declining in sales

A. Lower marketing costs

B. Higher price sensitivity

C. Reduced customer loyalty

D. Increased bargaining power with suppliers