GENERAL KNOWLEDGE

Detailed explanation-1: -Your greatest asset is your relationship with your customers. If you erode it, you’ll play a Sisyphean game of trying to gain sales from new buyers faster than your customers leave you.

Detailed explanation-2: -Chapter 2 offers a model describing three driving forces that must be in balance during the startup process: the entrepreneur, the opportunity, and resources.

Detailed explanation-3: -The main motto of marketing is to increase the sale of the company by satisfying its customer’s needs and wants. Marketing is the driving force of all the businesses because: 1. It always focuses on the customer’s needs and wants.

Detailed explanation-4: -Profit motive encourages people to improve their material well-being. In a free enterprise system, business owners and managers, not government officials, make decisions on how their business will be run. Maximizing profits is the driving force behind these decisions.