Question

Ron, the manager of a men’s watch store, regularly asks his staff what customers are saying and asking for when they visit the shop. He also attends fashion watch trade shows on a frequent basis. Ron’s efforts will help him to:

-identify potential opportunities

-implement just-in-time marketing promotions

-avoid the need to understand regional culture

-avoid cognitive dissonance

Answer 1

The correct answer is: (a) identify potential opportunities.

Since Ron frequently updates himself about the needs and feedback of the customers, he improves his chances of capturing potential opportunities in time. Further, regularly attending fashion watch trade shows updates his knowledge of latest trends, subcultures, etc.

The key steps to identifying potential business opportunities involve:

1. Listening to your potential clients and past leads.

2. Listening to your customers.

3.  Looking at industry trends and insights.

4. Looking at your competitors.

Thus the most fitting answer in this case is (A).