2 questions: 1. In a paragraph or two, outline two tactics that businesses can u

Question

2 questions: 1. In a paragraph or two, outline two tactics that businesses can use to improve the value they provide to customers. 2. List and briefly describe four activities that a company might undertake in the formation of an online business initiative. 2 questions: 1. In a paragraph or two, outline two tactics that businesses can use to improve the value they provide to customers. 2. List and briefly describe four activities that a company might undertake in the formation of an online business initiative. 1. In a paragraph or two, outline two tactics that businesses can use to improve the value they provide to customers. 2. List and briefly describe four activities that a company might undertake in the formation of an online business initiative.

Explanation / Answer

1.

Value added by the company for their target customer is always desired by the audience to whom the company is services. First tactics is to identify preferences exhibited by consumers and add it to the existing product line. Further, these value added product are offered to consumers at no extra cost. It will make consumers think about the increased value of the products and they will buy it. Consumer preferences can be identified by primary research and / or secondary research using survey, interviews or Delphi techniques. It will identify the factors most liked by the target consumers.

Second tactics is to focus on value rather product. Focus on value or value based approach will easily improve the value delivered to customers because it focuses on all aspects of consumer needs such as after sales service, demo of product use and servicing of the product. It simply increases the value and customer gets attracted towards the company and buy the product.

2.

Four activities are as follows:

1.   Identify and analyze the proposed business ideas that will be the focus of an online business setup.

2.   Conduct demand analysis of the selected idea and identify the target customer

3.   Identify the business model to deliver products to your customers and / or networking with the suppliers and vendors

4.   Selection of technology and security measures to establish online portals that will be accessed by customer for purchase of products

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.