Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 13, Problem 3DWS
Summary Introduction
To discuss: The four things, which can be done for winning back the loyalty of past customers.
Introduction:
Many times changes takes place in the economy, and when the economy slows down, the marketers try to offer the products that are less expensive and are more tailored to consumers with the modest incomes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
In a simple way, how can someone become successful in a farm business? What do you think are things they need to remember when starting a farm business? Explain your answer.
You are an entrepreneur who is designing a new line of boutique hotels located along California’s coastline. Each of the 100 guest rooms in each hotel will offer upscale decor, Wi-Fi, a mini bar stocked with high-end snacks, premium beers, and top-label liquors for a nightly rate of $315. The hotels will have a spa, an onsite restaurant, and a separate full-service bar that features local musicians. Describe in detail the demographics—age, gender, family life cycle, income and social class, ethnicity, and place of residence—of your target customer.
All about selling cars:
is it a good or bad business selling cars
What resources will you need to get started
Which of your chosen subjects are relevant to this adventure
What will you sell
What do you think your choice of business have will do well current economic climate
Which of your 2 strengths do you think will make your business success
Chapter 13 Solutions
Understanding Business
Ch. 13.1 - Prob. 13.1AQCh. 13.2 - Prob. 13.2AQCh. 13.2 - Prob. 13.2BQCh. 13.2 - Prob. 1TPCh. 13.2 - Prob. 2TPCh. 13.2 - Prob. 3TPCh. 13.3 - Prob. 13.3AQCh. 13.3 - Prob. 13.3BQCh. 13.4 - Prob. 4TPCh. 13.4 - Prob. 5TP
Ch. 13.4 - Prob. 6TPCh. 13.5 - Bass pro Shops offers a vast arrays of products...Ch. 13.6 - Prob. 7TPCh. 13.6 - Prob. 8TPCh. 13.6 - Prob. 9TPCh. 13.6 - Prob. 10TPCh. 13 - Prob. 1CTCh. 13 - Prob. 2CTCh. 13 - Prob. 3CTCh. 13 - Prob. 4CTCh. 13 - Prob. 1DWSCh. 13 - Prob. 2DWSCh. 13 - Prob. 3DWSCh. 13 - Prob. 4DWSCh. 13 - Prob. 5DWSCh. 13 - Prob. 1TITCh. 13 - Prob. 2TITCh. 13 - Prob. 3TITCh. 13 - Prob. 4TITCh. 13 - Prob. 1VCCh. 13 - Prob. 2VCCh. 13 - Prob. 3VC
Knowledge Booster
Similar questions
- In managing a small business, what will you do to appease acomplaining customer?arrow_forward9-10. Mr. Kiko Dela Cruz is a small entrepreneur involved in the manufacture of desert coolers. Provide an outline of the marketing strategy for his firmarrow_forwardThe picture is an illustration of targeting potential market and a potential market need. To identify your new potential markets, you consider every target demographic that you currently sell, as well as those which are not yet targeted. Consider yourself as an entrepreneur and ask the following questions. 1. What other products do my customers need now? 2. What related products will they need in the future? 3. Who else could make use of the products I am selling now? 4. What demographic information do I have with my current customers?arrow_forward
- Is this statement true or false? It is advisable for entrepreneurs to make detailed cost calculations for every product or service they are selling. Through this effort, they can price their products competitively without sacrificing their profit margins.arrow_forwardIdentify and describe a local or online store you often shop at. Include a picture if you like. Describe two ways the store uses behavioral economics to encourage you to spend more time, return frequently, and spend more money there. Cite at least one theory discussed in this course for each strategy identified. If you were a consultant for this store, suggest one way they could increase sales using behavioral economics concepts discussed in this course. (Optional: Suggest it to the owner. How do they respond?) Critique your past spending decisions at this store. Suggest a decision-making process that could guide you to spend more wisely there in the future.arrow_forwardAs would-be Entrepreneur, write down 3 career opportunities which attract you most. Indicate ehat competencies you need to enhance in order to become successful in these opportunitiesarrow_forward
- If you will be starting a business based on your own idea, answer this question: In selecting your business idea, were you able to find something you love to do and are good at doing? How did you determine that your idea would fill a need in the marketplace?arrow_forwardDescribe how you will prepare your business plan for a new business venture such as a stationary store. Be sure to include the components of a good business plan.arrow_forwardImagine running a large city travel business. Despite many commercial customers, growth has stagnated. You think technology can help you. Does your company have a strength, weakness, vulnerability, opportunity, and threat?arrow_forward
- what is the importance of identifying opportunities in the market before starting up a business? Why is there a need for the entrepreneur to clearly identify and define the customers of their proposed business venture?arrow_forwardIt is thought that small bookstores have a major competitive advantage over large rivals due to their ability to offer better customer service. What are some weaknesses and threats to the small bookstore? What steps could be taken to protect the small business owners livelihood?arrow_forwardAssuming you wish to be sponsored to start your own business, identify any viable and feasible business idea of your choice, and draft a comprehensive business plan for your potential business highlighting on the key featuresarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningManagement, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub