Good mission statements identify the ________ of a firm's products to its customers.

A good mission statement articulates the utility of a firm's products to its customers, highlighting the value and benefits that the products provide. Utility refers to the usefulness and functional benefits that a product offers, which is essential in communicating how the firm meets customers' needs and preferences. By clearly defining the utility, a mission statement can convey the purpose and significance of the company's offerings, helping to build a connection with consumers and differentiate the firm in a competitive marketplace.

In the context of strategic management, understanding utility is crucial for creating effective marketing strategies and aligning business objectives with customer desires. This focus on utility can guide decision-making processes within the company, directing it towards innovation and customer satisfaction. In contrast, while price, popularity, and demand are important considerations in business strategy, they do not inherently define the core value proposition of the products in the same way that utility does. This distinction makes utility a critical element of a strong mission statement.