ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To be able to provide the products or services they will purchase
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To attract better customers than your competition
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In order to have the proper amount of merchandise on hand
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. So your merchandise is better than your competition
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Detailed explanation-1: -Understanding customer needs is an important part of any business. By knowing what your customers want, you can better tailor nearly every aspect of your business, especially your marketing strategy.
Detailed explanation-2: -The importance of customer satisfaction. Customer satisfaction is important because it illustrates whether your customer base likes what you’re doing. Research shows that high satisfaction leads to greater customer retention, higher lifetime value, and a stronger brand reputation.
Detailed explanation-3: -Knowing products and services creates value by helping customers understand why the product or service stands out from others and how it can benefit them. Customer Satisfaction means the customer is happy or content with the product or service they’ve purchased.
Detailed explanation-4: -Know your customers better because only they can help you get more lead and more business. Understanding customers is the key to giving them good service which in turn results into strong customer relationships and new sales through positive word-of-mouth recommendation.