3.2.4 reasons for staying small

Question 1

differentiation strategy of small business

Answer 1

creates value
non-price competition
brand loyalty
no perceived substitute

Question 2

small businesses and customer needs

Answer 2

c=small business can gain significant competitive advantages over larger companies if it responds to customers needs

Question 3

small businesses and customer service

Answer 3

customers appreciate businesses that give them more for their money
efficient service, fast delivery, flexible payment terms help persuade customers to spend money with them