The reasons due to which the customers might remain loyal to a company providing product variety rather than focusing on price. Introduction: The organization which is not competing on price may compete on product variety in which range of products are offered to the customers keeping in mind the degree to which the market is segmented and additional costs of producing small volumes of many varieties but in return satisfying their customers and making them loyal towards their company.

Question

Economics What are the strengths and weaknesses of this small business idea? My business name is Front-Line Childcare. It will be an extended-hour child care program for children of first responders and healthcare workers. My business concept will be in the industry of childcare, but it will focus on providing childcare for front line workers such as doctors, nurses, firefighters, and other front line workers. These harding working individuals whose job is to give back to the community is my target market audience. My business concept will also give back to this group by providing affordable childcare for their children.

Answer 1

Question

Chapter 6.1, Problem 6.1AQ

Summary Introduction

To determine: The reasons due to which the customers might remain loyal to a company providing product variety rather than focusing on price.

Introduction:

The organization which is not competing on price may compete on product variety in which range of products are offered to the customers keeping in mind the degree to which the market is segmented and additional costs of producing small volumes of many varieties but in return satisfying their customers and making them loyal towards their company.

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