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Explain one reason why businesses that sell VisionSpring's glasses may prefer to stay small. - Edexcel - A-Level Business - Question 1 - 2019 - Paper 2
Question 1
Explain one reason why businesses that sell VisionSpring's glasses may prefer to stay small.
Worked Solution & Example Answer:Explain one reason why businesses that sell VisionSpring's glasses may prefer to stay small. - Edexcel - A-Level Business - Question 1 - 2019 - Paper 2
Step 1
Knowledge: Explain one reason for staying small
Answer
One reason businesses that sell VisionSpring's glasses may prefer to stay small is due to their flexibility in responding to customer needs. Smaller businesses can adapt more quickly to the changing demands and preferences of their customers, enabling them to provide more tailored solutions.
Step 2
Application: Two uses of context
Answer
- Shops selling glasses are often located in rural areas, where a smaller business can establish strong community ties and better serve local clientele.
- Small business owners frequently visit villages to conduct eye tests, allowing them to directly engage with their customers and understand their specific needs.
Step 3
Analysis: Discuss implications of staying small
Answer
Local businesses may have a greater knowledge of their customers' needs because they operate within the same community. As a result, these small business owners can respond quickly to customer demands by supplying glasses immediately if needed, thus enhancing customer satisfaction and loyalty.