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Why are customer complaints important to any organisation?
complaints are important because it is a sign from the customer that they want to be part of the company which is why they want your company to improve on the service. this will also help your company to come up with strategies that will retain and attract customers because customers want to be happy and a good service is equal to happy customers. customers sometimes complain because their expectations has not been met.
Which company use environmental scanning?
Amazon, Yahoo, and Microsoft all participate in environmental scanning. Most successful businesses scan their environment in order to learn about their customers and competitors.
What of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
The set of benefits that a company promises to deliver to customers to satisfy their needs is referred to as a "value proposition." This concept encapsulates the unique value that a company's products or services offer, addressing customer needs and differentiating the company from its competitors. A strong value proposition effectively communicates why customers should choose one brand over another.
How does a company get a good brand image?
A company gets a good brand image by considering the needs of the customer. If a brand is truly good, they will consider the customers in order to keep them, and attract new ones.
What are the components of business plan?
Actually, you need lots of detailed information about your company, your potential customers, your competitors, and the industry. There are tons of good resources on the internet. Some are free, and some charge.
Explain what is meant by the market location lacticsof business strategy?
It's a game plan that enables a company to attract customers by distinguishing itself from competitors.
What are the 5c's?
Company, Collaborators, Customers, Competitors, and Context.
What is company ethos?
A company ethos is a set of beliefs and values that guide the behavior and decision-making of an organization. It shapes the company's culture, defines its identity, and influences how employees and customers perceive the business. A strong company ethos can help differentiate the organization from competitors and attract like-minded individuals.
What is secondary competitors?
Secondary competitors are businesses or entities that offer alternative solutions or products that fulfill similar needs but are not direct substitutes for a company's primary offerings. They may not compete directly in the same market segment but can attract customers by appealing to different preferences, price points, or features. Understanding secondary competitors is crucial for businesses to identify potential threats and opportunities in the market landscape.
What do you call a company that competes with a small number of competitors in a market?
If the company is powerful enough that it has a lot of power over customers, while the competitors have no power over customers, then you can call that company a monopoly.If the company works with its smaller competitors to shut other competitors out of the market, then those companies are part of an oligopoly.Two companies working together to control a market are a duopoly.The opposite of these are monopsonies and oligopsonies, which occur when there is only one buyer, or only a few buyers.All these -opolies and -opsonies are part of an imperfect market.If the large company doesn't fit into any of those imperfect market categories, then the company is part of a normal market, is simply called the market leader.
What is penetration pricing strategy?
Penetration pricing strategy is an approach in business many companies use when they want to gain more customers in a particular market. Typically, businesses will reduce their prices in order to attract more customers.
Who are competitors of tide detergent company?
competitors tide
What is spatial competition?
Spatial competition refers to the competition between businesses or firms that are located near each other in physical space. This type of competition can occur in various industries where proximity to customers or resources plays a significant role in a company's success. Businesses engage in spatial competition by offering unique products, services, or experiences in order to attract customers from their competitors who are located nearby.
Why Would price necessarily be an advantage in a niche company?
Price can be an advantage for a niche company because it can help attract price-sensitive customers who are looking for affordable options within that specific market segment. Offering competitive pricing can also help a niche company differentiate itself from competitors and appeal to a larger customer base within its niche. This can lead to increased sales and customer loyalty.
Should a company become a customer-focused business Why or why not?
Most businesses should be customer-centered because it will help them attract loyal customers. With loyal customers, they can maximize their profits for their shareholders.
Why are customer complaints important to any organisation?
complaints are important because it is a sign from the customer that they want to be part of the company which is why they want your company to improve on the service. this will also help your company to come up with strategies that will retain and attract customers because customers want to be happy and a good service is equal to happy customers. customers sometimes complain because their expectations has not been met.
What is brand development?
Brand development is a strategic process of creating and distinguishing your company’s image, products and services from your competitors.
