IN NOT LESS THAN 100 WORDS EXPLAIN THE STATEMENT BELOW: Understanding the characteristics and buying behavior of your potential customers is the key determinant of a business’ success.
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- Define the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?How is gaining knowledge in customer analysis and market study related to establishing or developing an entrepreneurial mindset?"What is the significance of customer service in the context of marketing, and how does it contribute to the overall success of a business?"
- What is the importance of customer experience to a business success?Elaborate the importance of building strong relationship between a company and its customers?One of your friends is contemplating opening food cart near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business? Assume you are about to graduate. How would you apply marketing principles to your job search? In what ways would you be able to create, communicate, and deliver value as a potential employee, and what would that value be, exactly? How would you prove that you can deliver that value? What is the difference between a need and a want? How do marketers create wants? Provide examples. Explain how Apple employed the marketing concept in designing, promoting, and supplying the iPhone. Identify the key benefit(s) for consumers relative to comparable competitive offerings.
- One of your friends is contemplating opening a coffee shop near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the four Ps. What strategies can you share with your friend to assist in launching the business? Assume you are about to graduate. How would you apply marketing principles to your job search? In what ways would you be able to create, communicate, and deliver value as a potential employee, and what would that value be, exactly? How would you prove that you can deliver that value? What is the difference between a need and a want? How do marketers create wants? Provide examples. Explain how Apple employed the marketing concept in designing, promoting, and supplying the iPhone. Identify the key benefit(s) for consumers relative to comparable competitive offerings.What is customer equity?Review the Aldi case study on page 169 of your textbook. Assess your satisfaction with Aldi and make recommendations about how the company could modify its business-level strategy to both increase your overall level of satisfaction and to attract new customers. Provide specific examples to support your response. Analyze the five business-level strategies discussed in Chapter 4 to determine which strategy most likely applies to Aldi. Determine how a shopper's experience might change if it switched to one of the other four strategies (your choice). Explain your rationale. The Ripple Effect of Supermarket Wars: Aldi Is Changing the Markets in Many Countries Aldi started as a small, family-owned grocery store located in Essen, Germany, in 1913. Two sons, Karl and Theo, took over the store from their mother in 1946; soon after doing so, they began expanding the business. They emphasized low costs from the very beginning, allowing them to offer their products to customers at low prices…
- In business buying behavior the buying center concept presents a major marketing challenge. Explain, in less than 5 lines, what does a business marketer need to learn in order to deal with the challenge effectively?why is customer retention an important aspects of modern marketing ?What is voice of the customer?