Question

The management at XYZ Ltd. heavily invests in upgrading techniques of production. It conducts marketing research at regular intervals and discards obsolete technological products. Which one of the following BEST describes the approach of the management at XYZ Ltd.?

• A. It focuses only on cost reduction.
• B. It aims to improve its public image.
• C. It wants to stay ahead of its rivals.
• D. It wants to lead the market with innovative products.

Hint:

When a company invests in upgrading techniques and discarding obsolete products, it is aiming to innovate and lead the market.

Answer 1

The Correct Option is D

The company XYZ Ltd. is described as heavily investing in upgrading its production techniques, conducting regular marketing research, and discarding obsolete products. This indicates the company's focus on innovation and leading the market by providing cutting-edge products. Hence, option (D) best describes the approach, which is leading the market with innovative products.
Step 2: Conclusion.
Therefore, the correct answer is (D) It wants to lead the market with innovative products.
Final Answer:} It wants to lead the market with innovative products.