Growth of Global Markets
Growth of Global Markets
1. The fundamental changes that are contributing to the growth of global markets I think are the changes in technology, basically of communication technology that are making it easier to do business globally. Firms take advantage of differences in cost and quality of various factors of production by expanding their business globally.
2. I think that one of the goals of every firm is to retain loyal customers. This is very important for the firm because, then they know that are meeting their customer’s needs and wants and their customers will always buy from that firm. For example a local pizza can employ loyalty segmentation by trying to meet customer’s needs, by making a good pizza, doing delivery on time, and having good prices. I believe that by providing good services to the customers a pizza restaurant will be able to retain loyal customers.
3. When a company is cutting budget there is definitely a good reason for doing so. Therefore if the board of directors decides elimination of market research expenditures because it’s going to save money the company for some time until the bank starts doing better I probably wouldn’t defend expenditures on market research. However I would feel that the elimination wasn’t necessary I would definitely argue it by defending the market research as of how important is for the bank business, and what we as marketers could do to help the bank by market research.
Part III.
1. Definitely, habitual purchasers make great customers for a coffee shop. To attract and maintain habitual customers I think that Naomi should strive for good customer service, fair price, and what’s more important good coffee. Providing good services for the customers will help the business do well and customers would not consider alternative coffee shops.
2. To ensure post-purchase satisfaction among his customers, Fred should consider the three positive outcomes. First he should make sure he is increasing customer
1. The fundamental changes that are contributing to the growth of global markets I think are the changes in technology, basically of communication technology that are making it easier to do business globally. Firms take advantage of differences in cost and quality of various factors of production by expanding their business globally.
2. I think that one of the goals of every firm is to retain loyal customers. This is very important for the firm because, then they know that are meeting their customer’s needs and wants and their customers will always buy from that firm. For example a local pizza can employ loyalty segmentation by trying to meet customer’s needs, by making a good pizza, doing delivery on time, and having good prices. I believe that by providing good services to the customers a pizza restaurant will be able to retain loyal customers.
3. When a company is cutting budget there is definitely a good reason for doing so. Therefore if the board of directors decides elimination of market research expenditures because it’s going to save money the company for some time until the bank starts doing better I probably wouldn’t defend expenditures on market research. However I would feel that the elimination wasn’t necessary I would definitely argue it by defending the market research as of how important is for the bank business, and what we as marketers could do to help the bank by market research.
Part III.
1. Definitely, habitual purchasers make great customers for a coffee shop. To attract and maintain habitual customers I think that Naomi should strive for good customer service, fair price, and what’s more important good coffee. Providing good services for the customers will help the business do well and customers would not consider alternative coffee shops.
2. To ensure post-purchase satisfaction among his customers, Fred should consider the three positive outcomes. First he should make sure he is increasing customer