Project 9

Project 9

Published on 18 May 2023
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Transcript
00:01
1. Sufficient Knowledge about the industry
00:03
Sufficient knowledge to start your business Your product is safe for the consumers to consume FDA (Food and Drug Administration)
00:13
2. Provide accurate and proper information about a product
00:16
Its crucial to provide proper information about a product since a variety of people buy it and some may have allergic reactions to it. Providing right info helps consumers stay safe
00:28
3. Take Ownership
00:30
When there are defects and its because of the company own up and provide a substitute or refund Take action Laws to protect sellers from unjust acts of consumers
00:44
4. Build Relationships
00:46
Its important to build relationships in economics More trust = More recommendations Shows appreciation of  feedback/suggestions
00:57
5.Implement and follow price controls set by the government
00:60
Its important that the seller follows the price controls set by the gov especially during calamities Price Freeze- implemented during calamities Responsibility of the seller to check the price floor and ceiling
01:00
PC
01:17
6. Safe and clean environment
01:19
Having a safe and clean environment shows the consumers that you care about their wellbeing and health Especially now, in a pandemic where health is  the number 1 priority
01:30
7. Hire capable employees
01:32
This shows the consumers that the business considers the traits that an employee must have Skills to help and communicate with a consumer
01:44
Customer care is important in an entrepreneur’s welfare
01:48
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01:53
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