3.2.4 Reasons For Staying Small Flashcards
1
Q
How many employers do small/medium businesses have?
A
Less than 250
2
Q
How do small businesses survive in competitive markets?
A
- product differentiation and USPS
- customer service
- e-commerce
3
Q
How does differentiation help businesses survive?
A
- adds value
- increases brand loyalty
4
Q
How does good customer service help businesses survive?
A
Efficient services will help persuade customers to buy their products.
5
Q
How can businesses survive through e-commerce?
A
Small businesses can sell successfully through third party websites such as Ebay and Amazon
