Question

Golden Lotus, an exercise club targeting healthy individuals over 50, is located in a fast-growing city in the Southwest. Which of the following factors that may have an effect on the success of Golden Lotus is the most directly controllable by the company? a. the power of the customers/buyers b. the economy of the local area c. the sociocultural environment d. the demographics of the environment

Answer 1

Answer: a. the power of the customers/buyers

Explanation:

The power of customers or buyers refer to the capacity of consumers to buy the goods and services .

Importance

A company should evaluate their target group for their product in order to make sure that the product that they intend to sell to that group will be indeed bought by that group.

They need to be aware if the product is going to make them profit.

They need to have done all the necessary research about the target group they will be selling their product to, such as their income range because if they can not afford to buy the product then what will be the need to sell that product to them.

They need to have proper marketing strategy which will draw them more customers .

Answer 2

Answer:

a. the power of the customers/buyers

Explanation:

The factor that can affect the success of Golden Lotus that is most directly manageable by the company is the power of customers / buyers, which occurs when the company allows customers / buyers to decide which services are most relevant to their wishes and those that It doesn't matter at all. The market is saturated. No more room for business that doesn't value the responsibility and effort of capturing customers every day. The power of customers / buyers is a concern of large companies that must be joined by smaller companies as well, as it is a competitive advantage that allows the company to establish relationships between its customers by fulfilling their needs.