Article III - Legal Awareness Series

 General Customer base enlargement from “Personal “to “Social/Society” base & its implications


As seen in the previous Articles I & II - any business entrepreneur starts his business by first dealing with his relatives and friends who in turn referred him to their relatives and friends resulting in a chain of actions and reactions

A lot of factors play an important role in developing this customer base such as

a)      Quality of the products /services provided  

b)      Consistency in maintaining the quality of the product/services

c)       Consistency in providing the required supply of the product/services in the market

d)      Proper Sales & Marketing efforts.

e)      Effective post-sale support for the product/services, where needed.

 

These efforts result in business entrepreneur entering into a new phase of business development /growth where the market he is now gaining is “Social “where the previously emphasized personal relationships and bonding are now getting replaced by social interactions & relationships with third parties.

Due to such an expansion in the customer base, the entrepreneur now no longer has the liberty of using his personal relationships to close the deals and he has to adopt more formal ways of communicating. 

Cont...

For any query feel free to contact me.


Mahesh Vaidya
M.Com, LLM, ACS, DFM, CAIIB  
Legal Adviser
Cell Number 9769949701 / 9223173695
Email ID maheshvaidya2706@gmail.com

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