Companies get rich by fooling or cheating their customers

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The Utility curve, iso-utility curve, showes\every combination of goods (or features) that provide consumers with the same level of satisfaction. Why is it important for managers to understand that various combination of features can provide the same level of satisfaction and how do they use this information? Therefore, firms that wish to become successful, should focus on doing what? how is this different from the common view that companies get rich by "fooling" or "cheating" their customers? Why don't firms try to cheat their customers?

Reference no: EM131253059

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