BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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New product
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New Brand name
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New Geographies
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Dissolution
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Detailed explanation-1: -According to Milton Berle, If opportunity doesn’t knock, build a door, ” Whenever products find it difficult to attract customers, it is always better to look for new geographies. New markets with low competition and high demand always have low setup cost of a product and service.
Detailed explanation-2: -This happens because customer tastes, wants and needs change, and the firm’s business model isn’t agile enough to adapt. It pays to make sure your market knowledge remains current.
Detailed explanation-3: -There are a few reasons why attracting new customers is important. First, it helps to grow your business. The more customers you have, the more revenue you’ll generate. Second, attracting new customers can help you reach new markets and expand your business.