Customer Focus in Business

Understanding that a customer has needs when using a good or service can allow a business to identify marketable opportunities for increasing profitability or maximizing revenues. For a large portion of customer focus, its about communication. A customer focused approach can be adopted by many aspects of a business, such as; Sales Management Location Customer Service Marketing Growth and Extensibility Many customers will have different needs and goals and there are many aspects to a business that may need to change to adopt a customer-first approach, but the payoff is; High Customer Retention Long Term Commitment Greater Profitability Greater Customer… Continue reading Customer Focus in Business

Factors Influencing Demand

A Demand and Supply Graph Factors Influencing Demand This article serves to supplement the article Influences for Supply and Demand, that I wrote a while ago. For a more general overview of supply and demand, I suggest visiting there first. Demand has many factors that influence a market, such as;- Changes to the prices to substitute products, such as cheaper products available online or at discount stores could reduce the sales of a premium product or product range. Changes to the availability of complementary goods or changes in the price of complementary goods, such as two large luxury opposing ice cream… Continue reading Factors Influencing Demand