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Ksju [112]
3 years ago
5

Matt newell, a former air force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views

of the rocky mountains. he obtains a loan and purchases the necessary land, facilities, advertising, and five helicopters for his business. what important factor of production has he overlooked in creating his business?
Business
1 answer:
vampirchik [111]3 years ago
5 0

I guess the correct answer is Labor

Matt Newell, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views of the Rocky Mountains. H obtains a loan and purchases the necessary land, facilities, advertising, and five helicopters for his business, the  important factor of production has he overlooked in creating his business is Labor.

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<u>Explanation:</u> After determining business products and services the business needs to identify the target market. Identifying the target market is the major step in developing a marketing strategy.

Steps to select a target market

  1. Target market is actually those customers whom we want to sell our products.Concentrating on target market will make it easier to sell our products.
  2. Customers can be targeted on the basis of age,gender,income,occupation,educational level.
  3. Look at the competition that exist .Identify those areas that have been overlooked by our competitors.
  4. If business is already existing than identify those products and services which are bought by current customers and the benefits that they are getting from it.
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Eva8 [605]

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These factors are valued in the customer service both face-to-face or telephone or virtual: courtesy, credibility, speed, personalization, professionalization and the tangible aspect of the service.

It is necessary to give a courteous treatment to the client. Courtesy is reflected in the consideration shown to customers. Treat them with the respect they deserve.

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I hope you find this information useful and interesting! Good luck!

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NNADVOKAT [17]

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