A power strip is a block on the end of a power cable with a number of sockets (usually 3 or more), often arranged in a line. This term is also used to refer to the whole unit of a short extension cord terminating in a power strip.
Why Is It Important? Pricing is a key determinant in the decision making process customers use to purchase a product or service. It is important to establish how much your target market will pay for your product or service. Shows you how sensitive your customers are to changes in price.
Quick Answer. Customer satisfaction is so important because without a high degree of it, profits can be lower and harder to generate. Statistics have shown that a business with high customer satisfaction is likely to generate up to 18 times more revenue than a company with a very low customer satisfaction rate. Keep Learning.