Question

In: Economics

Student Debate Discussion Is "the customer isn't always right?" State whether you agree or disagree with...

Student Debate Discussion

  • Is "the customer isn't always right?" State whether you agree or disagree with this statement and then support your position. In defending your position, discuss the organizational implications of adopting the position in terms of resource needs, benefits, and costs.

Solutions

Expert Solution

There have been various instance regarding the customer position in every aspects of business. As oftenly customer as considered as the final consumers of any product/services and the one who can judge it properly. In the 1950s and ’60s, many brands treated customers like they lacked brain cells and used loud and obnoxious voices and obviously exaggerated print. There was a need to point out that companies and advertisers needed to connect with customers and treat them intelligently.

The view towards customers has evolved over time. But no matter where you are in the world, being customer-centric means thinking about the customer experience. The customer might not always be right, however being thoughtful in your approach to customer experience will always serve your company well. Companies need to embrace customer experience and trust every customer to build successful relationships. Organizations emphasis is the most towards the growing consumers. As pe the strategy it is that consumers drives the economic growth When people spend more on goods/services produced in a never-ending cycle, the economy grows. There is increased production and employment which leads to more consumption. The living standards of people are also bound to improve because of consumers. Market led globalization intensifies commodity exchange thereby capturing global markets promoting consumerism through lucrative promises such as fair and efficient use of resources to meet basic human needs, increased access to more goods through global reach.


Related Solutions

Review the discussion and discuss whether you agree or disagree with the intent and what is...
Review the discussion and discuss whether you agree or disagree with the intent and what is your opinion. Companies have a number of different options when it comes to raising capital. Each particular method comes with advantages and disadvantages. The examples include: Bonds When a company issues bonds, it’s borrowing money from investors in exchange for interest payments. The money has to be paid back. Issuing bonds allows for faster access to capital, avoids having the company sell assets, and...
Review the discussion and discuss whether you agree or disagree with the content and how can...
Review the discussion and discuss whether you agree or disagree with the content and how can efficient market hypothesis be strong or weak. The efficient market hypothesis (EMH), developed by Eugene Fama, explains that public trading markets provide efficiency demonstrated by market security prices. The EMH theory contends that since markets are efficient and current prices reflect all information, attempts to outperform the market are essentially a game of chance rather than one of skill. The EMH is proposed in...
For each of the following independent statements, state whether you agree or disagree with the statement...
For each of the following independent statements, state whether you agree or disagree with the statement and fully explain your answer. Required a.        The level of audit risk is low when inherent risk is low. b.        When the auditor assesses control risk and inherent risk as high, the acceptable detection risk is        low. c.        When an audit firm issues the correct opinion on the financial statements under audit, it still has    engagement risk. d.        If...
Conceptual Framework: For each of the following situations, state whether you agree or disagree with the...
Conceptual Framework: For each of the following situations, state whether you agree or disagree with the financial reporting practice employed, and then briefly explain the reason and proper treatment if you disagree. Use the conceptual framework as your guide in deriving your answer. The controller of the Dumars Corporation increased the carrying value of land from its original cost of $2 million to its recently appraised value of $3.5 million. The president of Vosburgh Industries asked the company controller to...
For each of the following independent statements, state whether you agree or disagree with the statement...
For each of the following independent statements, state whether you agree or disagree with the statement and fully explainyour answer. Required a.        Each of the following changes (considered individually, and holding other things constant) can be expected to decrease the level of detection risk associated with the auditor's substantive tests: decreasing materiality reducing the level of audit risk b.        Auditing standards require that if an auditor plans to assess control risk as high, internal controls must be of higher quality and the...
Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken...
Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken in the 2000’s (2000-2010). Fiscal Policy actions: The Economic Stimulus Act of 2008 American Recovery and Reinvestment Act of 2009 Monetary Policy actions: The Federal Open Market Committee It is possible that some actions you agree with and other you disagree with - that is fine. You can discuss your reasons for disagreement or agreement on a case-by-case basis. In your argument, be sure...
Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken....
Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken. •It is possible that some actions you agree with and other you disagree with - that is fine. You can discuss your reasons for disagreement or agreement on a case-by-case basis. •In your argument, be sure you are using our economic models and concepts to support you and not just your own opinion or feeling about what is best. For instance, saying that we...
State whether you agree or disagree with the following statement. Explain why. Given: A mutual fund...
State whether you agree or disagree with the following statement. Explain why. Given: A mutual fund invests in equities. The fund manager expects a large contribution by an institutional investor. He also expects stock prices to increase significantly before the money is received and could be invested. Statement: The manager should consider selling (as opposed to buying) stock index futures to benefit from the anticipated appreciation in the stock prices. (Note: The manager is only considering buying or selling stock...
D. Please state whether you agree or disagree with the following, and provide your reasoning: Treating...
D. Please state whether you agree or disagree with the following, and provide your reasoning: Treating cells with cholera toxin (which activates Gs proteins) or with pertussis toxin (which inhibits Gi proteins) leads to similar relative changes in cAMP levels in the cell. Circle: AGREE or DISAGREE Reasoning:
V. State whether you agree or disagree with the following statements and briefly explain why. Please...
V. State whether you agree or disagree with the following statements and briefly explain why. Please draw graphs to explain your answer, where appropriate. In some states, the state government owns and operates the liquor stores. The governor of one of these states made the following statement. "An increase in the price we charge for liquor would fight the twin evils of alcoholism and the state budget deficit. Even a small price increase would greatly decrease the use of alcohol...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT