IN NOT LESS THAN 100 WORDS EXPLAIN THE STATEMENT BELOW: Understanding the characteristics and buying behavior of your potential customers is the key determinant of a business’ success.
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- Reflect on how the concepts in advanced marketing can be applied to real-world situations and can increase your chances to career or life success?Define the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?Enhancing and optimizing customer retention and loyalty is an important part of any marketing plan. Explain why this is the case, and give two examples of businesses that use this strategy?
- One of your friends is contemplating opening coffee shop near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?One of your friends is contemplating opening food cart near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?Three of your friends is contemplating opening a businesses near your college campus. They seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business? For coffee shop school supply store food cart
- One of your friends is contemplating opening school supply store near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business?Elaborate the importance of building strong relationship between a company and its customers?WRITE AN ESSAY OF NOT MORE THAN 200 WORDS DETAILING WHY MARKETING IS IMPORTANT TO YOU AND WHY IT IS IMPORTANT TO BUSINESS
- How is gaining knowledge in customer analysis and market study related to establishing or developing an entrepreneurial mindset?What skills and knowledge do you hope to obtain by taking this Principles of Marketing course?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…