BUSI 1003 Lecture Notes - Lecture 3: Customer Satisfaction
11 Jun 2017
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Document Summary
Post your top 3 learnings and discuss your position with your colleagues. In this simulation i learnt a few things about setting up a maintaining a business with competition. The top 3 learning"s i took away was the marketing research, Customer satisfaction and how to bid to win. Because marketing successful businesses have extensive knowledge of their customers and their competitors. Market research is the process of gathering information which will make you more aware of how the people you hope to sell to will react to your current or potential products and services. Team did extensive research on the competition to see how we were doing on the home, domestic and foreign markets. We looked at our competition and their decisions on price, advertising, promotions, sales people and dealer promotions. This helped us make good decisions on how to bid and at what price.
