Pages Tagged With: consumers
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Theories: Supply & Demand
Introduction to Supply and Demand
Demand
The willingness of consumers to buy a particular good is called demand. The most important factor influencing the consumer buying decision is the price of the product. The demand for a particular product would be higher in case its price is lower than the other related products. Therefore, price of a [...]
Dealing With Customers
Good customer care is about understanding and meeting customers’ needs and expectations. The objective should be to win and keep customers.
Customers can be classed as internal or external. External customers include consumers or businesses who buy goods and services as well as suppliers to the firm such as agencies and lenders. Internal customers include colleagues, [...]
SWOT Analysis
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An Introduction To Business
What, in its most basic form, is business?
The precise answer to this question depends on issues of scale, purpose and interpretation, all of which suggest wide disparities in the way enterprises are conducted. Ultimately however, the definition is reducible to the pursuit of a single formula: the creation of profit, where profit [...]
Global Factors and Strategy
Businesses are affected by an external environment as much as they are affected by the competitors. Global factors influencing business are legal, political, social, technological and economic. Understanding of these factors is important while developing a business strategy.
a. Social factors - These factors are related to changes in social structures. These factors provide insights into [...]
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