Which of the following statements about the competitive environment is most accurate?
a. firms that produce a quality product will almost always succeed in the competitive marketplace.
b. traditional firms will be unable to successfully compete against the new internet firms unless they immediately create a way to reach customers through this technology.
c. firms that empower their employees will continue to perform poorly in the competitive environment.
d. companies now have to offer both high-quality products and outstanding service at competitive prices.

The correct answer is letter "D": Companies now have to offer both high-quality products and outstanding service at competitive prices.

Explanation:

Nowadays the worldwide economy has increased competition both domestically and internationally. To attract the largest number of customers, companies must find a way to provide a high-quality product that satisfies needs but also offering quality customer service to make consumers feel special. But that is not enough. Prices must be average compared to competitors otherwise consumers would rather choose to purchase from another firm.

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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