Reduce Costs And Retain Customers During Challenging Times
What you’ll learn
- What inflation is and its causes.
- The concepts of cost-push and demand-pull.
- How the cost of living crisis affects small and large businesses.
- The impact of inflation on consumer behaviour.
- How to know what customers truly desire.
- How to identify costly operational bottlenecks and remove them.
- Cost reduction strategies for cost management during a crisis, including automation and digitisation.
38 total mins
- No specific requirements.
Are you worried about how inflation will affect your business? Have your customers started looking elsewhere for better deals? Would you like to manage costs more effectively to stay afloat in the current economic situation? If so, then this is the course for you.
The current economic situation is unpredictable for all of us. The price of goods and services is increasing and consumers are looking for ways to reduce their outgoings. This reduced spending will take its toll on businesses that are unprepared. So, come with us on a journey to understand consumer behaviour during the cost of living crisis, the consequences it may have in the long run, and ways to reduce costs so you can stay ahead of the competition and retain your loyal customers.
In this course, you will learn some key terminology about inflation as well as its common causes. We will then explore the cost of living crisis and its effects on business, including real-life examples. The third lecture will address consumer behaviour and ways to be more efficient while prioritising existing customers, as well as how to make your business stand out from the competition. We will also cover cost management, including bottlenecks that may be increasing costs, and ways to reduce them efficiently. We will also discuss how digitalisation and automation can help reduce costs.
So, if you’re willing to deepen your understanding of inflation and the cost of living crisis so your business can survive these unpredictable times, enrol today.
Who this course is for:
- Project Managers looking to reduce costs and improve the overall financial performance of their projects.
- Small business owners looking to protect their businesses from recession.
- Managers of organisations looking for ways to address the cost of living crisis and retain their customers.
- Individuals that would like to deepen their financial literacy and utilise it in their professional life.
- Anyone that wants to better understand the cost of living crisis and how it affects them professionally and personally.
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