Why is it important to ALWAYS improcve or modify a product or service?
So your product or service becomes well known - This is to do with promotion and advitisment. Trying to get your products name out there. Example if more and more customers start buying it and telling friends and family about the product your name and your product will get bigger. This is called "Word Of Mouth "
Increases sales renewal rates -is basically customer coming back in the store. If business is good customers will come back into your store and buy another product that they are selling.
Catering to customer needs - This is about reputation. Bulding a good reputation get more customers and positive feedback. Also get a promotion in the business market.
So the customer stays interested in the company - They have to stay inerested so we dont lose money or the company dont go bust. A example is Nike Trainers they still sell them and make money becasuse they come up with new designs whicch stay in fashion and people come back to buty more.
To help increase sales - So w can make profit and put more money into the business, so we can invest in more supplies and put more effort into PROMOTION.
Increase in variety and choice - This is good because it keep the customer intrested in the business and make them coming back to see whats new
Gain competitive advantage over rivals - So that we can make more money than the riva. Also so that so can get more customers than them.
So your product or service becomes well known - This is to do with promotion and advitisment. Trying to get your products name out there. Example if more and more customers start buying it and telling friends and family about the product your name and your product will get bigger. This is called "Word Of Mouth "
Increases sales renewal rates -is basically customer coming back in the store. If business is good customers will come back into your store and buy another product that they are selling.
Catering to customer needs - This is about reputation. Bulding a good reputation get more customers and positive feedback. Also get a promotion in the business market.
So the customer stays interested in the company - They have to stay inerested so we dont lose money or the company dont go bust. A example is Nike Trainers they still sell them and make money becasuse they come up with new designs whicch stay in fashion and people come back to buty more.
To help increase sales - So w can make profit and put more money into the business, so we can invest in more supplies and put more effort into PROMOTION.
Increase in variety and choice - This is good because it keep the customer intrested in the business and make them coming back to see whats new
Gain competitive advantage over rivals - So that we can make more money than the riva. Also so that so can get more customers than them.
