product cycle
At which stage of the product life cycle is consumer awareness built and sales are just beginning?
the Introduction stage
What does customer service refer to?
How well a business responds to the needs and problems of the customer
What is a customer loyalty program?
A rewards-based program offered to customers who frequently purchase
What is the purpose of the extension stage?
To revive a product and extend its life cycle
Why is a user-friendly website essential for businesses?
Customers often check websites first, so clear, updated sites attract them
During which stage do sales rapidly increase and brand acceptance is actively pursued?
The Growth stage
Name one advantage of providing quality customer service.
Improved customer satisfaction, positive reaction to products, or repeat purchases
Give an example of a business that uses a loyalty program.
Coles, Woolworths, or small cafés with stamp cards
Name one way a product can be extended.
Exporting into new locations
What role does customer feedback play in relations strategies?
It helps businesses measure satisfaction and improve
At which stage do sales fall due to changes in technology, tastes, or competition
The Decline stage
What is one way businesses can establish superior customer relations?
Training staff to be knowledgeable, approachable, and friendly
How do loyalty programs benefit businesses beyond repeat sales?
They collect customer data to notify about discounts and rewards
What does diversification mean in the context of extension strategies?
Varying the range of products or markets to reduce risk
What’s an example of catering to a multicultural market?
Hiring multilingual staff or using signage in community languages
Why might a business lower prices during the maturity stage of the product cycle?
To deter competitors, maintain market share, and keep customers loyal as the market becomes saturated
Why is handling complaints effectively important
It improves customer satisfaction, loyalty, and reputation
What competitive advantage do loyalty programs provide?
They encourage repeat purchases and customer loyalty
Give an example of product diversification.
John West expanding from canned tuna to tuna snack meals
Why is flexibility in refunds and returns important?
It improves customer relationships and loyalty
1. introduction
2. growth stage
3. maturity growth
4.decline growth
5. extension phase
Explain how a proactive approach in customer service can create a competitive advantage for a business.
By anticipating customer needs (e.g., trained staff ready to assist, uncluttered displays, clear signage), businesses enhance the customer experience, building loyalty and making their business the preferred choice over competitors
How have loyalty programs adapted with technology?
Many are run through online apps offering instant discount coupons
What is geographic diversification?
Expanding operations to multiple locations, domestically or globally, to reduce risk
What is meant by a “proactive approach” to customer relations?
Anticipating and addressing customer needs before being asked