BU111 Study Guide - Midterm Guide: Voice Of The Customer, Competitive Advantage, Starbucks
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BU111 Full Course Notes
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It will affect your long term success with the company. Example with joe"s java (meeting customer needs, achieving financial performance) Example with high tech bar top (innovation and creativity, competitive advantage) If your building quality products, you retain customers that you already have and obtain new ones. If you aren"t satisfying customer needs, they will go to substitutes and profits will go down. If you"re encouraging creativity, your employees will feel valued working for you and work productively. Creativity and having talented employees gives you a competitive advantage from other companies. The reason innovation is important is because the environment is always changing. Building quality products and services, you can create more expenses. If you don"t meet customer needs, you will have difficult attracting customers and gaining new ones. Understanding what customers want and anticipating what customers want is essential to meeting customer needs.
