ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a benefit to a start-up business of identifying and understanding customer needs?
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Increased possibility of survival
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Lower chance of breaking even
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Customer demand for its products will be minimal
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Increased risk of making costly mistakes
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Explanation:
Detailed explanation-1: -Identifying customers’ needs allows representatives to cross-sell related products or services. Cross-selling can make the original purchase better, easier to use, or more versatile, and is financially beneficial to the organization.
Detailed explanation-2: -There are four main customer needs that an entrepreneur or small business must consider. These are price, quality, choice and convenience.
Detailed explanation-3: -A fair price. A good service. A good product. To feel valued. 31-Aug-2020
There is 1 question to complete.