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Business strategy
Factors that determine profitability of a business.
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[QUOTE="Kingsley, post: 211844, member: 30278"] There are indeed factors that determines whether a business will be profitable or notmamd there are are wide range of them, i will start off with the ones that we may likely want to overlook, somany people think running a business is Al about just buying what we need and adding some amount of money and then reselling them at at a different price that makes one profitable, business actually goes beyond just that we need to be more creative and be different in the way we handle our business and customers. we need to know how to add value to the goods or service we are trying to sell to our customers. The first one I will be looking at is the customer relations, how we relate with our customers will go a long way to either keep them or send them away to our competitors, we should try and understand that we are not the only one selling that particular product or services, and when we behave rudelyto the customers they will go all out to other places to access the product and services. Been customer friendly can make a customer to travel from far location to come and patronize us. [/QUOTE]
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