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What is the idea that a business should strive to satisfy customers needs and wants while generating a profit for the firm?
Wiki User
∙ 11y ago
It is the Marketing Concept.
Wiki User
∙ 11y ago
Anonymous
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What are the advantages of customer services?
Amrik Manku: If the level of service provided to the customers are not up to standards the level of customers would drop massively, affecting the chances of repeat purchase and affecting the business. The most important objective for a business is to fulfil the customer's needs and satisfy the customers. If customer needs are not satisfy then the business would not get satisfied profit and extremely low chance of repeat purchase. If a business does not provide a high level of customer service, then the business would suffer in the market, with very low chances of repeat purchase and making profit. So it is crucial to provide a high level of customer service. Because then it would build customer loyalty, making your business well-known and successful in the market and against your competitors. So the advantages are: Customer Loyalty Strong Bonds Between Customers Secure Position In The Market Well-Known Higher Amount Of Customers Successful Competitive Advantage And Many Other Advantages......
What is industrial market?
industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective. industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective.
Why is speed and accuracy important for customer service?
The more customers that are served will mean a higher profit for the company as well as bigger business. The more customers served will mean more customers in the future.
Why does a business value its repeat custom?
they value the repeat custom as if they can get customers to return they will make maximum profit within the organisation.
Why is costumer service important?
It isn't enough to simply make good costumes. Quality costumer service will keep all your customers happy. Because of this your costume business will grow and make profit.
What are the aims and objectives of costcutter?
Aims - are to maximise profit and Lead the Market Objective - Satisfy Customers
What is the purpose of marketing mix?
to increase sales to rise profit and turnover to satisfy the needs of the customers to increase the consumption demand
What is the definition of small business?
Whether small or large, "business is an organized effort by individuals to produce and sell for a profit, goods and services that satisfy societies needs."Whether small or large, "business is an organized effort by individuals to produce and sell for a profit, goods and services that satisfy societies needs."
What is the foundation of a business?
Businesses exist to make a profit and to meet the needs of the customers. When a business fails to do this, it may go out of business.
What is the organaized effort of individuals to produce and sell for a profit the products and services that satisfy society's needs?
business
What are the advantages of customer services?
Amrik Manku: If the level of service provided to the customers are not up to standards the level of customers would drop massively, affecting the chances of repeat purchase and affecting the business. The most important objective for a business is to fulfil the customer's needs and satisfy the customers. If customer needs are not satisfy then the business would not get satisfied profit and extremely low chance of repeat purchase. If a business does not provide a high level of customer service, then the business would suffer in the market, with very low chances of repeat purchase and making profit. So it is crucial to provide a high level of customer service. Because then it would build customer loyalty, making your business well-known and successful in the market and against your competitors. So the advantages are: Customer Loyalty Strong Bonds Between Customers Secure Position In The Market Well-Known Higher Amount Of Customers Successful Competitive Advantage And Many Other Advantages......
What is busin?
Business is making one or more products and/or services available in exchange for money (or sometimes for other products and/or services) for the purpose of generating a profit.
Do you agree with Milton Friedman that the only responsibility of business is to maximize profit?
Apart from maximizing profit, the business community has social obligations to fulfill along with generating employment, thus accelerating the progress of the national economy.
What is industrial market?
industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective. industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective.
Why is the customer is so important?
It is because the customer is the lifeblood of any organization. Without customers, there is no profit. Without profit, the business will close its doors.
What is a business organization?
a business organization is a group or a unit of people working together with a commen objective of profit maximization.but profit maximization is not the only objective..they also satisfy human needs and wants by producing goods and services
What does a buisnessman do?
Businessmen look for ways to make money. They start business in the hopes of generating a profit. Many business people across the world start multiple businesses.
