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Q: What is meant by good news? Explain with example.
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- How is gaining knowledge in customer analysis and market study related to establishing or developing an entrepreneurial mindset?What functions does marketing perform, and why are they important in creating customer satisfaction?Define the concept of customer lifetime value (CLV). What are your thoughts on this concept? Is it sometimes more profitable for a company to invest more resources in retaining current customers than trying to attract new customers?
- 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…Examine how your college or university creates value for the customers it serves. How does your institution differentiate and position itself?How does consumers provide value to a product or service?