Question

West Side Medical Supply is in trouble. In the past two years, Fred Schultz, the owner, suddenly lost 26 percent of his business when two drugstores and a local hospital closed. He missed a big opportunity when his competitor got a contract at a new nursing home before Fred even knew it was being built. Fred needs to

A. better understand his customers' values.
B. improve his overall customer service.
C. sell to the public instead of to other businesses.
D. do continuous research on demographic changes.

Answer 1

The answer is Letter D - do continuous research on demographic changes.

The cause of his loss was because of the two drugstores and a hospital closed. In order to gain and prevent this from happening in the future, he should continually do a research on the demographics of his area. Through knowing the different changes in the demographic factors, he can plan his way through for his business to survive.