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: Flexibility in Responding to Customer Needs
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
One reason that businesses selling VisionSpring glasses may prefer to stay small is due to their flexibility in responding to customer needs. Smaller businesses can quickly adapt their offerings based on feedback from local customers or market changes.
Step 2
Application: Context of Location
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
These businesses, like the shops selling glasses, are often located in rural areas where they can directly understand and meet local needs. For example, small business owners might adjust their inventory based on popular styles or specific requests from customers.
Step 3
Application: Conducting Eye Tests
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Additionally, small business owners frequently visit villages to conduct eye tests, enabling them to better understand their customers' requirements and preferences for eyewear.
Step 4
Analysis: Knowledge of Customer Needs
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Local businesses may have greater knowledge of their customers’ needs, allowing them to respond swiftly to specific requests. Consequently, this responsiveness can foster customer loyalty and enhance service satisfaction.
