Identifying & Understanding Customers (AQA GCSE Business): Flashcards
Exam code: 8132
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What does a business find out when it identifies customer needs and wants?
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What does a business find out when it identifies customer needs and wants?
It finds out the variety and quality of products customers want and the promotional techniques that persuade them to buy again. It also learns where and how they want to buy and the after-sales service they expect.
True or False?
Businesses that satisfy customer needs can only compete with rivals by charging lower prices.
False.
These businesses often compete on factors other than price, which means they are likely to make a profit.
Creating products that meet customers' precise desires can lead to positive ___________ advertising.
Creating products that meet customers' precise desires can lead to positive word-of-mouth advertising.
How does keeping up to date with changing tastes and preferences help a business?
It can keep offering the new or varied products that customers want, which gives it a competitive advantage over rivals.
True or False?
Satisfying customers can build a business a positive reputation that leads to increased sales.
True.
Satisfied customers boost a business's recognition, and customers often feel confident buying from well-known brands.
Why can developing the wrong marketing mix be costly for a business?
Products may have to be withdrawn, or the business may suffer reputational damage.
As a customer need, what does price mean?
Price is the amount of money a customer is willing to pay for a product. Customers often have a budget and want the best value for their money.
Define quality.
Quality is the standard of excellence that a customer expects from a product.
Why do customers value choice?
Customers have a wide range of preferences, so they want a variety of products with different functions or features, such as sizes, colours and styles.
Why do customers value convenience?
Customers want products that are easy to access and use, through factors such as location, online ordering, fast delivery and a variety of ways to pay.
True or False?
Satisfied customers are unlikely to return to the same business.
False.
Satisfied customers are likely to remain loyal and return time and again to buy the business's products.
How can retail stores satisfy their customers?
Retail stores satisfy customers by being well-stocked, in a convenient location and a pleasant environment in which to shop.
Effective online shopping, including prompt delivery and easy _____ and replacements, encourages customers to keep using a retail website.
Effective online shopping, including prompt delivery and easy returns and replacements, encourages customers to keep using a retail website.
Why do consumers value knowledgeable staff?
Knowledgeable staff provide good customer service, especially when customers are making complex purchases, and can advise on special offers.
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