Bus MHR 2292 Learning Assessment 1 Questions and Correct Answers the Latest Update and Recommended Version
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Course
MHR 2292
Institution
MHR 2292
SWOT analysis
→ Strengths, Weaknesses, Opportunities, Threats
→ the pattern of decisions in a company that determines and reveals its objectives,
purposes, or goals, produces the principal policies and plans for achieving those goals,
and defines the range of business the company is to pu...
Bus MHR 2292 Learning Assessment 1
Questions and Correct Answers the Latest
Update and Recommended Version
SWOT analysis
→ Strengths, Weaknesses, Opportunities, Threats
→ the pattern of decisions in a company that determines and reveals its objectives,
purposes, or goals, produces the principal policies and plans for achieving those goals,
and defines the range of business the company is to pursue
economics
→ the study of the production, distribution, and consumption of goods and services
→ economy expands, unemployment is low, incomes rise, consumers buy more products,
businesses increase production
business stakeholders
→ a person or entity with an interest in the economic performance and well-being of a
company
trash talkers
→ doesn't use a product/service and talks bad about the product/service to other people
defectors
→ are probably the biggest nuisance to your company. They are neither satisfied nor
loyal and very often spread negative word-of-mouth about your brand, ruining your
reputation.
mercenaries
→ are satisfied customers, but they switch between brands. They are usually price
sensitive, looking for bargains and best offers, buying on impulse, pursuing fashion
trends. They don't feel any attachment to particular brands. They usually expensive to
acquire and difficult to keep.
hostages
→ are not satisfied, but they keep repurchasing from your company. Why? They are
usually stuck with a company because of monopoly situation on the market or high
switching costs. They may easily turn into defectors.
loyalists
→ this group is made up of customers who are satisfied or completely satisfied. They also
buys product from you repeatedly and stay loyal. They are one of the most valuable
assets you can earn, as not only they guarantee your company gets regular revenues,
but also they spread a positive word about your brand, giving you free and genuine
advertisement.
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