Management Book Report: Siх Sigmа Quаntitаtivе Mеаsurеs (Book Report Sample)
Prompt: Assume you are opening a sandwich store to compete with a local Subway. Using this worksheet, make a list of requirements you believe will be
important to your customer (e.g., open late). Then, in the second column, translate each of these customer requirements into quantitative measurements that
you can track.
SIGMA QUАNTITАTIVЕ MЕАSURЕS
1 Open till late
Opening till late entails operating beyond the normal operation hours of between 8.00 am and 6.30 p.m. The business has decide to operate till late, between 8.00 am and 9.00 pm. This is inorder to factor in the consider the requirements of customers who work till late at night. Working till late enables the business make more sales which translates into increased profitability in the long run. Infact, working late is likely to increase sales revenue by 20 % and consequent increase in profitability by almost the same margin.
2 Proper pricing
According to Hollensen, S. (2015), pricing is an important tool that guarantees customer satisfaction particularly if in entails venturing into a new market. Because this is a new sandwich store, proper pricing will put the store in a competitive edge to enable it compete with others. If the competitors put their prices, I would price it differently, of course lower that the competitors’ prices but good enough to enable the business break- even. Proper pricing will is projected to increase sales revenue by close to 20% and subsequent profitability increase by almost the same margin.
3 Proper packaging
Packaging is an effective marketing tool and entails packaging product to meet the requirement of both existing and target customers. Packaging will be an important marketing tool and is likely to increase sales revenue and profitability by a good margin. It is likely to increase sales revenue and profitability by over 20% and 15 % respectively. This will entail using different and attractive packaging materials, different from that of the competitor.
4 Full time and functional customer care
It is not about the seller, it is all about the customer. () indicates that the customer is always the king. Establishing a functional an effective customer care is an important tool to enhance customer satisfaction and retention. This entails receiving customer complaints and implementing the necessary changes inorder to boost on sales revenue nd subsequent increase in profitability. Infact, it is estimated to increase sales revenue and subsequent profitability by close to 20% because the customer will feel treasured and will make a repeat purchase. Customer care entails having customer complaints addressed properly and where necessary having the required changes in p...