Question

For years Print and Copy, a copier machine supplier, enjoyed strong sales and a huge share of the copier market, far ahead of its nearest competitor. However, over the years, Print and Copy seldom asked customers for feedback. So when some of Print and Copy's competition responded to customers' needs and started offering copiers with new features (such as wireless printing from laptop and tablet computers), Print and Copy lost much of its market share. Print and Copy's system is best described as____________.A. open.B. entropicC. isolated.D. closed.E. internal.

Answer 1

Answer:

The answer, in this case,would be option D. given in the answer choice or closed.

Explanation:

• A closed system strategy basically signifies a confined and a non transparent business strategy which is characterized by a limited interaction between the concerned company or business organizations and its customers.
• Under the closed system, the companies or business organizations often stick to their traditional or conventional products and services and are usually not open or receptive to contemporary and recent market trends and patterns adopted by their competitors.
• In this case, Print and Copy mostly relies on their selling existing product lines which have traditionally yielded higher revenue and consolidated company's market share in the industry in comparison to its market competitors. It also doesn't depend much on product modification based on respective customer feedback and reviews to enhance customer satisfaction and market goodwill or reputation,thereby,exhibiting infrequent and limited business and customer interaction.