Importance of Superior Market Knowledge (Essay Sample)
The first section or the work needed me to agree or disagree with the statement that i was given. . Superior market knowledge is not only an important source of competitive advantage, but it also results in a higher volume of, and more loyal, happier customers. Do you agree or disagree with this statement? Why or why not? Defend your answer with a unique, real-world example.
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Marketing
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Marketing Research
1a. Superior market knowledge is not only an important source of competitive advantage, but it also results in a higher volume of, and more loyal, happier customers. Do you agree or disagree with this statement? Why or why not? Defend your answer with a unique, real-world example.
Yes, I agree that superior market knowledge is not only an important source of competitive advantage, but it also results in a higher volume of, and more loyal, happier customers. Therefore, the systematic development of market knowledge is a very important activity in any organization (Malhotra, Nunan & Birks, 2017). . Engaging customers in superior market knowledge recognizes that value creation is an important factor that enables companies to survive and thrive in the face of fierce competition. Strong relationships between customer retention, which translates into value creation, and customer retention are components of business success.
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