Why should organisations collect, file and maintain accurate financial records? To have a record of how the business is running. To determine how the business is sitting financially and to inspire different processes to assist in growing the business. It will also display what money is going where and whether there is any room for alterations in staffing, produce, and marketing. Basically, it is used to anaylse the business as a whole and per section and to determine performance.
Which customer needs are we satisfying? characteristics Newness Performance Customization “Getting the Job Done” Design Brand/Status Price Cost Reduction Risk Reduction Accessibility Convenience/Usability Customer Relationships What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they?
Recruitment – When starting the recruitment process the business should look at the current business needs and look at its business goals to achieve business growth. The initial recruitment process should involve an analysis of what level of staff support you will need, the hours required (eg. part time, casual, contractor, full time, trainees etc), tasks to be performed in this role, is it within the budget, being clear and organised of what you want out of this recruitment process, developing a position description including a bit background about your business and the correct avenues of advertising the position. Selection – The selection process is done by matching the best applicant to the profiled job description, this will place people into jobs so that organisations can meet their strategic and operational goals. To do so the selection process should be fair, consistent, well understood, and legally and professionally executed in conjunction to the organisation practices.
I also believe that by following my recommendations, Barilla will succeed in influencing its distributors and Sales personnel to work together and implement the JITD program. This will not only result in better performance in terms of time and money but also promote trust and good relations among all the partners in the supply chain. 2. Identification of the problem Barilla is suffering from what is known as Bull whip problem- high inventory, -magnification of demand variability across the chain-frequent promotion – only one way of flow of information. • Promotions: Barilla’s sales strategy relied heavily on the use of promotions, in the form of price, transportation and volume discounts.
Making the customers aware of the fact that we are not profiting out of making business with them and asking them to contribute towards more profitability or at least a break even in some of the cases would help a great deal. 3. RENEGOTIATE YOUR VALUE PROPOSITION – reconsidering your value proposition that we are offering to the customer is also an option where in we can change the value we have been offering to adjust for profitability. 4. Migrate Customers – creating a scenario where in we could migrate some of the customers or products and make a diversification 5.
I believe that they need to get a business manager first that can help the business grow by coming up with new ways to restructure the company. Also, he/she needs to build a marketing plan for the services offered and software produced, and decide what other hires are needed to get the plan implemented. 3. Question: Do you think the major hesitance of changing the organization is the first time costs that will be incurred or more so the behavioural and structural changes needed? From the way Pay Zone is portraying its services and future plans, especially thinking of retiring soon, the owners will contemplate costs.
We understood that businesses should continuously observe their goods and services to better assist customers. They have to understand what worked and generated earnings last year may not work as well this year. So therefore, product differentiation and positioning are key elements of a company's marketing plan and are fundamental of staying ahead of the game with competitors. Also knowing with including innovative concepts with careful analysis, product differentiation helps to join quality, or price, within a product to push the intended customers to observe it as different and desirable. Then the understanding in the next step is product
Supply chain management is the complex process of managing systems to ensure that products are where they should be when they should be there, while minimizing costs and creating opportunities for profit. It is the strategic linkage and collaboration of all departments in a firm that enhances the product flow through the firm, which eventually adds value to the customer. Firms can lower costs, positively differentiate their services, constantly perform value-added services, increase flexibility and responsiveness, and engage in constant process innovation by incorporating best-practice supply chain management into their system. Not all supplier-buyer relationships are equal in value, and therefore, it is important to segment customers based on service needs and develop the appropriate relationship for that particular requirement. Robert J. Trent discusses four types of relationship management in his article “Why Relationships Matter.” Counterproductive relationships have no value because each organization is working against the other, this is often called a lose-lose relationship.
The success of a company can sometimes depend on the success of its sales team. Despite the best product or service in the world, if your sales representatives don't have effective sales techniques, your customers will not be properly provided for. Exploring different sales training methods will help you pick the best one for your company's needs. * Training Needs To make the right investment in sales training, you need to first identify training needs. If you are regularly recruiting sales representatives, you will need to develop an induction training program.
The rationale behind implementing such a marketing strategy is that the company can better satisfy the needs of segments of similar customers. It can design slightly different products for different segments and match promotion to the customers. By better satisfying the needs of each segment, the company achieves higher performance. One of the characteristics of a marketing plan is its marketing mix. The plan specifies a strategic mix of price, product, place and promotion that matches the characteristics of each market segment.