In my understanding every time the market changes that’s why companies need to be updated with the market.
With the different jargons being use in the market these days we have forgotten the jargons that is being use before because many people is not using it anymore and people would like to change it so that it will fit the generation these days.
Customers doesn’t choose only one company to trust that’s why we can’t assume that we have a loyal customer in the market.
Companies should tell the truth to their customers/clients because once they did not tell the truth nobody will trust them anymore and it is hard to get back the trust of customers/clients.
When they make a mistake especially when they don’t change the price of their products when their competitors have already change the price that’s why a company needs to know what is happening in the market.
They are not the only company in the market nowadays that sells the same product as they do.