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Questions and Answers
Which type of business strategy are firms switching to due to intense competition?
What is one of a firm's most valuable assets?
Which motorcycle company has demand for its motorcycles outweighing supply?
What is the largest motorcycle club in the world?
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What does HOG offer to its members?
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Study Notes
Business Strategy Shift
- Firms are increasingly adopting a customer-centric business strategy to effectively navigate intense competition.
- Focus on enhancing customer experience and tailoring products/services to meet consumer demands.
Valuable Assets
- A firm's most valuable asset typically includes its talented workforce and skilled personnel.
- Human capital plays a critical role in driving innovation and maintaining competitive advantage.
Motorcycle Company Demand
- Harley-Davidson faces a situation where demand for its motorcycles significantly exceeds supply.
- This high demand highlights the brand's strong market position and loyal customer base.
Largest Motorcycle Club
- The largest motorcycle club in the world is the Harley Owners Group (HOG).
- HOG boasts a global membership that fosters a sense of community among Harley-Davidson enthusiasts.
HOG Membership Benefits
- HOG offers numerous benefits to its members, including access to exclusive events and rides.
- Members receive resources such as a membership magazine, discounts on services and products, and a supportive network of fellow riders.
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Description
Test your knowledge on customer relationship management and its importance in today's competitive business environment. Learn about the strategies used by firms, like Harley-Davidson, to build strong and loyal customer relationships.