Assume you work for a company that makes shop towels, hand-washing stations, and related products. Make a list of all the companies that could be potential customers of your firm.

Next, identify all the markets from which their demand is derived (i.e., who are their customers and their customers’ customers?). What factors might influence the success or failure of your business in these markets?

Answer-

My company sells products like shop towels, hand-washing stations, and related products so the potential customers for my firm would be manufacturing companies making furniture and machines, Garages, Universities and college of engineering, Fast food restaurants.these are my potential customers because they use these kind of products in their business operations like shop towel can be used to wipe and clean grease in manufacturing factory, Garages, in workshop of college. hand washing station can be used in fast food restaurant, college also factories.

the Demand of my consumers or their customers are colleges, schools,furniture retail stores and general public which purchase furniture and machines from these factories. students of engineering like mechanical, customers in garage for fixing their vehicles and general public coming and eating for food at restaurants.

The factors that can influence the success and failure in increase competition because competition means divide of market and demand which can affect my business. second government regulations related environment, material used and recycling or waste which can also lead to failure or success of my business because if government put strict regulations on my products then i may suffer loss.