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Can short term profitable decisions cause firms to lose customers in the long run?
Wiki User
∙ 10y ago
Yes. For example, a business could add a new line of products. Customers could at first buy them, but later find out they are inferior products. Unless the company is willing to back up their product, customers are likely to be lost.
Another example is a service business that hires a new employee to work on repairs. At first, the employee increases the number and speed at which repairs are made and more profits are made. Later, the owner leaves the employee alone to do the repairs and he damages customers items, does not finish repairs, etc. Depending on how the owner handles the issues (satisfying the customer and taking a loss, trying to cover up his employee's mistakes, etc.), the owner could lose customers due to hiring that employee.
Wiki User
∙ 10y ago
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Should marketing managers or business managers in general refrain from producing profitable products that some target customers want but that may not be in their long-run interest Should firms be expe?
Should marketing managgggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggers or business managers in general, refrain from producing profitable products that some target customers want but that may not be in their long-run interest? Should firms be expected to produce 'good' but less profitable products? What criteria are you using for each of your answers?
How can firms satisfy a customers need?
Needs of the customers can be satisfied by delivering them the valuable products in terms of physical product and after sales services. these product and services must be provided after conducting research& development program.
Does marketing create or satisfy needs?
There can be various answers to this question, and it can be varied in depth and example. I shall try to provide some guidance. From my understanding, I feel that marketing does both. It creates and also satisfies needs of customers. For establised firms, it's essential to be able to satisfy the needs of customers. As they say, a satisfied customer is a profitable one. To be able to satisfy the customer's needs, the firm thus tries to understand it's customer's needs and then attempt try to deliver it. On the other hand, new firms or marketing these days also attempt to 'create' needs. By doing so, the customer have a reason to buy the product. The basic reason customers purchase anything is they need it. However if customers have a perception that they do not need it, they may not purchase the product. Hence marketing these days have evolved to create needs for customers. Marketing these days does not only mean existing customers, which have needs but also non existing customers, which have no needs. Creating needs by marketing can mean the excellent usage of promotion activities, from words on a poster to colours on it. It can also mean effective sales techniques by the door to door salesman which can talk their way to sell you anything. http://www.chiing.com/ - CLICK HERE ;]
Is the core of a business the operations that create the products and services for delivery to the customer?
Yes. In most firms, operations represent the core of the business. This is where its products and services are created for delivery to customers.
What are some firms that offer direct mail?
The US postal service provides direct mailing to customers. All you need to do is mark your mail with an address, apply the correct postage, and put it in a mailbox.
Are profitable firms necessarily efficient firms?
yes
Should marketing managers or business managers in general refrain from producing profitable products that some target customers want but that may not be in their long-run interest Should firms be expe?
Should marketing managgggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggers or business managers in general, refrain from producing profitable products that some target customers want but that may not be in their long-run interest? Should firms be expected to produce 'good' but less profitable products? What criteria are you using for each of your answers?
Johnson Johnsons company credo designed to guide managers in making decisions State that the firms top responsibility is to customers Should all business make customers their priority?
intrastate
When a market is dominated by a few large profitable firms it is considered to be a?
oligopoly
At the most profitable level of production a firms marginal cost will be the market price?
equal to
What competitive environmental forces influence the firms strategy?
The competitive environmental forces influence the firms customers, rival firms, new entrants, substitutes, and supplies.
Why must firms make decisions about which goods they will produce?
because firms have access to limited resources of land, labor, and capital
What are some of the specific strategies and tactics used by firms to build relationships and entice customers closer to the firm?
marketing relationships by firms
What is the one main difference between a monopoly and an oligopoly?
Firms in oligopoly can set prices to a degree but must consider other firms' decisions.
What is competitive environmental forces influence the firm's strategy?
In strategic planning, firms analyze the competitive environment in order to adapt to or influence the nature of competition. A general rule of thumb about this analysis is: The more power each of these forces has, the less profitable the industry will be. There are five forces: 1. Customers 2. Rival Firms 3. New Entrants 4. Substitutes 5. Suppliers
Can you name three most profitable businesses in UK in the last 2 years?
Pornography, banking (Investment), law firms
What are Non banking financial firms?
They are firms that do not accept customer deposits but provide services like share trading, derivatives, insurance etc to its customers.
