Not Specified Essay Example | Topics and Well Written Essays - 1500 words

Not Specified - Essay Example On the other hand, when there is high capital resource then more investments could be made to set up the best production procedures and service provision systems, to enable them offer nothing but the best products to the consumer hence helping them build a strong customer base. It is however also important to notice that, the existence of these things such as capital and human resource which is seen as the basis of success and growth of a firm by many people would be useless when there are no consumers to consume the products or services been produced. In other words, it is the existence of consumers which determines whether or not the large human and capital resources possessed by a firm is needed or not. When firms are able to build a strong and established customer base, these customers help these firms to produce new and innovative products and services as a result of been able to identify some other needs of their customers and capitalizing on the trust built in them by their customers as a result of the long lasting relationship between the firm and its customers. Apart from these established customers leading or helping a firm to produce more innovative products, they can also help in improving already existing ones. From the article, you would realize that Hercules business as a result of supplying its military customers with explosives, gave them a good insight into the activities of their established customers, helped them in analyzing and figuring out some other needs or things their established customers need to be supplied with or use in their operation. This lead to the production of new companies such as the turpentine and pine oil and these products immediately after been introduced into the market had ready consumers for them since its production was motivated by the needs of some customers. This is