12 Questions
What is the main benefit of providing a worthwhile shopping experience?
To create loyal customers
What is the primary reason why customers may be compelled to spend outside their limitations?
Because of the exceptional product and/or service
What is the most important aspect of a product's functionality?
Its ability to serve its purpose
Why is it essential to make a product and/or service readily available?
To prevent customers from looking for alternatives
What is the main goal of a business in terms of customer retention?
To retain old customers and make new ones
What is the primary characteristic of a Potential Pandoy customer?
They show interest in a product and/or service but need convincing
What is a market?
A place where consumers buy and manufacturers, distributors, and retailers sell
What determines the prices of products and/or services in a market?
Demands and competition
What is essential for a company to understand about its customers?
Their needs, personality, attitudes, and budgets
What is a major factor that influences changes in the marketplace?
Economic situations, innovations, lifestyles, and new fashions
Why is it important for a company to understand the market?
To understand the customers, their needs, and how to reach them
What do majority of customers consider when buying a product or availing of a service?
The price
Learn about markets, where manufacturers and consumers interact, including physical shops, high streets, or websites. Discover how competitive companies offer products and services, and how prices are influenced by demand and competition.
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