Customers
Customers are the people who purchase the product or use the service. They are the stakeholders who decide whether the business will be a success or not.
Customers will show loyalty to a business they like. However if a firm does not satisfy customers’ needs continuously, the customers will simply take their business elsewhere. This will have disastrous results for the business.
Customer loyalty and customer satisfaction are key for a business to succeed
Customers have an interest in a business doing well so that they:
- want quality products and services
- want low prices
- want value for money
Customers can influence how a business operates by:
- can decide whether or not to purchase the product or use the service
- can affect organisation’s reputation by When people pass on their opinion of something to others.