Sample interview questions: How do you assess and manage potential risks related to changing customer expectations or demands during a business expansion?
Sample answer:
Assessing Risks Related to Changing Customer Expectations
- Conduct Market Research: Monitor industry trends, competitor behavior, and customer feedback to identify emerging expectations.
- Engage with Customers: Gather insights through surveys, focus groups, and social media listening to understand their evolving needs and preferences.
- Forecast Demand: Utilize historical data, industry analysis, and market projections to predict changes in customer demand.
Managing Risks Related to Changing Customer Expectations
- Adjust Product/Service Offerings: Modify products or services to meet new expectations, while ensuring alignment with core values and capabilities.
- Implement Customer-Centric Processes: Focus on building strong customer relationships, personalizing experiences, and delivering exceptional service.
- Foster Innovation: … Read full answer
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