Questions 1. Why is understanding market trends important in this industry? 2. Why is it mutually beneficial for retailers and distributors to work together? 3. Is it important that this system shares real-time data with both parties? 4. How can the system be used to inform product decisions and marketing?
Questions 1. Why is understanding market trends important in this industry? 2. Why is it mutually beneficial for retailers and distributors to work together? 3. Is it important that this system shares real-time data with both parties? 4. How can the system be used to inform product decisions and marketing?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Questions
1. Why is understanding market trends important in this industry?
2. Why is it mutually beneficial for retailers and distributors to work together?
3. Is it important that this system shares real-time data with both parties?
4. How can the system be used to inform product decisions and marketing?
Expert Solution
Step 1
The market trends implies the functioning of different business in an industry in a particular direction. It basically depends on the demand pattern that is prevailing in the market. These trends could work on short term basis, long term and intermediate basis. Thus, its examination are important for every business through observing data and then predicting future out of it.
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