Environmental scanning is the process of gathering information about events and their relationships within an organization’s internal and external environments.
The basic purpose of environmental scanning is to help management determine the future direction of the organization.
What would you do to wow your client?
- Stick to your word
- Give them more than they expect
- Respond quickly
- Make things easy
- Get to know them
- Empower your agents
- Do regular check-ins for no reason
- Express gratitude
What brings value to a product
Product value refers to the benefits the product offers to the target customers. A product’s overall value is based on how well it meets or exceeds customers’ expectations.
What activities were involved in the pricing function
The pricing function involves determining and adjusting prices to maximize return and meet customers’ perceptions of value.
This often involves deciding how much to charge for products so customers will want to buy and businesses will make a profit.
What is segmentation strategy
A market segmentation strategy organizes your customer or business base along demographic, geographic, behavioral, or psychographic lines—or a combination of them.
Market segmentation is an organizational strategy used to break down a target market audience into smaller, more manageable groups.
How will you grow your business
Participate in Networking Events. Increasing your brand visibility can help you attract new customers and grow your business.
A good way to do this is by attending networking events. Check local professional organizations and don’t be afraid to attend a few events to get the word out about your business.
What is product in your own words
Definition: A product is the item offered for sale. A product can be a service or an item.
It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price.
The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted.
What is business environment analysis and why is it important
The purpose of the Business Environment Analysis is to identify the potential influence of particular aspects of the general (economic, political, cultural, technological, natural, demographic, international environments) and operating environments (company’s suppliers, customers, competitors, and public) on business
What makes for an excellent response
Following are the qualities which a good response should possess: Fast. Approachable. Informative.
When can we say that a certain product has a value
Answer: A certain product is said to have value when there is demand in the market.
Explanation: The value of a product depends on the market demand.
What are the five basic segmentation strategies
There are many ways to segment markets to find the right target audience. Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
What’s the value of my product
“Product value is the benefit that a customer gets by using a product to satisfy their needs, minus associated costs.
What are the 3 methods of environmental scanning?
- Environmental Threat and Opportunity Profile Analysis (ETOP)
- Quick Environmental Scanning Technique Analysis (QUEST)
- SWOT Analysis
- PEST Analysis
References
https://economictimes.indiatimes.com/definition/product
https://www.limelightplatform.com/blog/boost-brand-love
https://grin.co/blog/reach-your-target-audience-more-effectively/
