The document summarizes a system analysis of a customer satisfaction survey conducted at a corporate cafeteria. The survey found that 23% of customers were dissatisfied with the value for money. This was likely due to a change in general managers between 2013-2015 and perceptions of portion size not matching price points. The cafeteria implemented an AppCard rewards program in response, which appears to be addressing customer dissatisfaction by providing rewards and incentives.
The Importance of Communication when Sampling Owen Crisp
Sampling is the most effective marketing tool a business can use. However most including Costco and Starbucks neglect to communicate when providing a sample, so all is lost and money is wasted.
Discover how a simple message in this most effective of tools can deliver immediate feedback
An assignment I prepared for Z energy. I decided to improve on the initial brief of a customer paying through the use of an RFID tag in a fast lane. The presentation I put together improved on the user journey while attempting to create a friction-less experience that better tied into existing customer habits
Service is Your Best Marketing Strategy: 5 Quick TipsFivestars
In 2011, seven out of ten Americans said they were willing to spend more with companies that they believe provide excellent customer service. Learn 5 quick tips to make sure your small business' customer service is top notch.
What do customers think about “One New GNC”? Field Agent sent 52 GNC patrons to QuickShop the retailer and share their thoughts about recent changes.
Read more on the blog: http://blog.fieldagent.net/rapid-response-what-customers-think-about-the-one-new-gnc-mystery-shop
http://repeatbusiness-guaranteed.co.uk
t: 01202 233433
95% of UK consumers appreciate customer loyalty programs.
Loyalty programs are a great way of adding value to customer visits and giving them a reason to return in the future.
To create loyal customers who always use your business over your competitors you need to acknowledge their loyalty and reward them for their business.
The Importance of Communication when Sampling Owen Crisp
Sampling is the most effective marketing tool a business can use. However most including Costco and Starbucks neglect to communicate when providing a sample, so all is lost and money is wasted.
Discover how a simple message in this most effective of tools can deliver immediate feedback
An assignment I prepared for Z energy. I decided to improve on the initial brief of a customer paying through the use of an RFID tag in a fast lane. The presentation I put together improved on the user journey while attempting to create a friction-less experience that better tied into existing customer habits
Service is Your Best Marketing Strategy: 5 Quick TipsFivestars
In 2011, seven out of ten Americans said they were willing to spend more with companies that they believe provide excellent customer service. Learn 5 quick tips to make sure your small business' customer service is top notch.
What do customers think about “One New GNC”? Field Agent sent 52 GNC patrons to QuickShop the retailer and share their thoughts about recent changes.
Read more on the blog: http://blog.fieldagent.net/rapid-response-what-customers-think-about-the-one-new-gnc-mystery-shop
http://repeatbusiness-guaranteed.co.uk
t: 01202 233433
95% of UK consumers appreciate customer loyalty programs.
Loyalty programs are a great way of adding value to customer visits and giving them a reason to return in the future.
To create loyal customers who always use your business over your competitors you need to acknowledge their loyalty and reward them for their business.
White Paper: 4 Advanced Strategies for Google ShoppingAdlucent
Learn valuable tips about your Google Shopping program including:
How much spend should I allocate towards PLAs?
How should PLAs perform relative to my PPC program?
How do I optimize PLA performance?
What can I expect from the new Google Shopping Campaigns?
What's the right bidding strategy--CPC or CPA?
White Paper: 4 Advanced Strategies for Google ShoppingAdlucent
Learn valuable tips about your Google Shopping program including:
How much spend should I allocate towards PLAs?
How should PLAs perform relative to my PPC program?
How do I optimize PLA performance?
What can I expect from the new Google Shopping Campaigns?
What's the right bidding strategy--CPC or CPA?
The food service industry has changed irrevocably this year. Between a global pandemic forcing so many restaurants to close forever and Generation Z entering adulthood in quarantine, the market has adapted to the new normal and businesses need to pivot accordingly to stay relevant in consumers’ minds.
MKTG 512
–
Marketing Management
Midterm Exam
(Total 100 Points)
Answer All Questions. Each answer to your question requires examples to
support your analysis. Your exam requires you to answer
individually;
this
is not a group work/test. Plagiarism checker should not
attribute your work
to
be more than 10%. If you need help with your writ
ing, check with our
writing department or with me before you submit.
Midterm Exam is due on 10/22/18 at 6 PM (EST). No late submission will
be accepted.
1.
The marketing research process consists of definite set process to help
make decisions. Explain each step
-
in detail with examples.
2.
Explain the purpose of the two complementary
approaches to measuring
marketing productivity. How have you used it in your marketing plan. In
addition, find an example of an organization that has used this approach.
3.
The value chain is a tool for identifying key activities that create value
and cost
s in a specific business. Identify the value chain activities first for
your project and second, explain the concept using an example.
4.
According to one view, holistic marketing maximizes value exploration by
understanding the relationships between the
customer’s cognitive space,
the company’s competence space, and the collaborator’s resource space;
maximizes value creation by identifying new customer benefits from the
customer’s cognitive space. Define and explain this concept. what is the
purpose of u
nderstanding the cognitive part of the customer? How has
Apple or Amazon utilized this concept to their advantage or they have failed
to use this concept?
5.
The corporate strategy establishes the framework within which the
di
visions and business units prepare their strategic plans. Setting a
corporate strategy means defining the corporate mission, establishing
strategic business units (SBUs), assigning resources to each, and
assessing growth opportunities. Explain with exampl
es how this concept
helps an organization with its marketing plan. Describe how you plan to
use this concept in your project.
6.
In the social
-
cultural arena, marketers must understand people’s views
of themselves, others, organizations, society, nature,
and the universe.
They must market products that correspond to society’s core and
secondary values and address the needs of different subcultures within a
society. Use PESTEL to analyze this question, use examples to support
your answers.
7.
In the politi
cal
-
legal environment, marketers must work within the many
laws regulating business practices and with various special
-
interest groups.
How do you navigate this maze? Please use examples of Ford, Apple and
Samsung to answer.
8.
The marketing research proce
ss consists of defining the problem,
decision alternatives; and research objectives; developing the research
plan; collecting the information ...
This report is designed for restaurant owners and managers to help them improve their sales, efficiency and profitability. It contains insights on strategies, trends and ideas that will help you inject growth into your business. Report is designed by Blue Orb, a consulting firm based in Lagos-Nigeria. For more info, visit www.blueorbglobal.com. Enjoy and share!
Surveys, a company’s best friend: the 5 ways they can have an influence on yo...Survmetrics
Surveys, a company’s best friend: The 5 ways they can have an influence on your sales.
Understanding customer data is beneficial to gain an advantage over the competition.
It comes as no surprise that surveys are a powerful ally to any business. No matter what industry you are in, it helps to clarify foggy situations.
Just think about when you want to analyze a specific aspect, you design a survey in hopes to receive feedback from your customers. If you haven’t considered doing this for your company, then it might be a good idea to start adopting this practice.
Can Product ReturnsMake You MoneyS P R I N G 2 0 1 0 .docxhacksoni
Can Product Returns
Make You Money?
S P R I N G 2 0 1 0 V O L . 5 1 N O . 3
R E P R I N T N U M B E R 5 1 3 1 6
J. Andrew Petersen and V. Kumar
SLOANREVIEW.MIT.EDU SPRING 2010 MIT SLOAN MANAGEMENT REVIEW 85
After a certain threshold, a customer’s rate of product
returns actually correlates to an increase in the amount
of his or her future purchases.
C U S T O M E R S E R V I C E
MANY COMPANIES SEE customers’ product returns as a major inconvenience and an eroder
of profits. After all, product returns cost manufacturers and retailers more than $100 billion per
year, or an average loss per company of about 3.8% in profit.1 The electronics industry alone spends
some $14 billion annually on product returns through reboxing, restocking and reselling. And be-
cause only about 5% of products are returned as a result of defects, it appears that product returns
will remain an inevitable part of the customer-company relationship even as manufacturing con-
tinues to improve product quality.
For some companies, the solution has been to create product-return disincentives, such as lim-
ited time frames for returns (say, within 30 days after purchase), product customization that allows
returns only when the product is defective, and
nonrefundable purchase costs (shipping costs
or restocking fees, for example). But are these
practices, which reduce the costs and frequen-
cies of product returns, ideal for the bottom
line? Despite the company’s handling costs and
its revenues lost from refunds, the customer’s
ability to return products may have a positive
effect on his or her future purchases and actu-
ally increase long-term profits.
Several recent studies have in fact begun illu-
minating the potential benefits of allowing
customers to return products with impunity. This
research finds that when a company has a lenient
product-return policy, which allows customers to
return almost any product at any time, they are
more willing to make other purchases.2 The
knowledge that they can return a product reduces
the risk customers might perceive in purchas-
ing it in the first place. The studies also find that a
Marketers and sellers hate product returns, but smart
companies aren’t passively accepting them as bitter pills
to be swallowed. They’re managing product-return
policies to maximize future profits.
BY J. ANDREW PETERSEN AND V. KUMAR
Can Product Returns
Make You Money? THE LEADING QUESTION
How can
marketers
manage
product-return
policies to
maximize
future profits?
FINDINGS
Marketers can
target and manage
customers by taking
information about
both their purchase
and return behaviors
into account.
Lenient product-
return policies yield
more profits than
strict product-return
policies.
Managing product
returns in an optimal
way increases profits
even during tougher
economic times.
www.sloanreview.mit.edu
86 MIT SLOAN MANAGEMENT REVIEW SPRING 2010.
Assignment 6 dealing with unprofitable customers unit 6 330517776 ohscDeanRobson4
I uploaded this assignment in the relevance for research purposes only. Please don't copy word for word as it will be identified at Plagiarism.
Assignment 6 dealing with unprofitable customers unit 6 330517776 cover sheet ohsc
Market probe pre customers and former customers white paperMichael Lowenstein
Enterprise preoccupation with generating prospects (sometimes at the expense of cultivating existing customers) and neglect of potentially profitable former customers
Similar to System Analysis for Research Project (20)
Market probe pre customers and former customers white paper
System Analysis for Research Project
1. System Analysis:
Numberof respondents: 135(134 consumersand1 non-consumer)
Goal:“monitorthe satisfactionof ourconsumers,identifyneeds&wantsof people whoare notattendingthe café,and
to betterknowthe profile of ourcustomers”.
The overall satisfactionwiththe café asa whole diddecrease from2013 to 2015 from 100% satisfactionto95%. To
note,the surveywasnot done in2014 as there wasa differentGeneral Manager. Inthe latestsurvey,28%of
consumerswere verysatisfied,67% were satisfied,and5% were dissatisfied.
Identifythe problem:consumersfeel they are notgetting a lot of valuefortheir money.
Do background research:
Alsoto note,duringone of our foodservice classes,Jason,ourGM, didstate that because PPLis a corporate account,
that givesbothhimandSodexothe abilitytoprice itemsasneeded,possiblyathigherpricesif necessary. Ido thinkhe
has a good point;PPLisa large corporate account andhas a lotof employeeswhouse the café,butasseen withthese
surveys,some are feelingtheyare notgettingagood value.
Afterlookingatall surveyresults,customerswere foundtobe dissatisfiedwiththe following:
- Value formoney(23%total dissatisfied:19% dissatisfied,4% verydissatisfied)
- Daily varietyof menus,recipes,&products(12% dissatisfied,0% verydissatisfied)
- Portionsserved(10%dissatisfied,0%verydissatisfied)
- Availabilityof healthyoptions(6%dissatisfied,0% verydissatisfied)
- Speedof service (12%total dissatisfied,11% dissatisfied,1% verydissatisfied)
Developa hypothesis:The decreasein satisfaction in valueformoney from2013 to 2015 could be caused by a changein
generalmanagersand theirmanaging stylesand pricing for meals.
- The decreasein satisfaction for valueformoney could bedue to customersnotfeeling like they are getting a
properamountof food fortheset price. (*offera larger portion?) Somedid also notethatthey would like an
option forhalf portions,maybeif the price washalved for thesmaller portionsthatwould help).
- The consumerdissatisfaction withvalueformoney isdue to thefact thatPPL haspartnered with Buy Fresh Buy
Local and this will increasethe price permeal.
2. Collectthe data: Per the currentGM, satisfactionratesinthe 80’s are considerednormal,withanythingatorabove 90%
beingexceptionallyhigh. Resultsfromthe latestsurveycanbe seenbelow:
Source:PPL Corporation.CustomerSatisfactionResultsPowerPoint.2015. Accessedon:July7, 2015.
As seeninthe above bargraph, a total of 23% of customerswere dissatisfiedinsome way,with19% dissatisfiedand4$
verydissatisfiedwiththe currentvalue theyare gettingfortheirmoney. We canalso see thatoverall satisfactionfor
thisparticularcategorydecreasedfrom98% in2013 to 77% in2015.
In regardsto whatis importanttothe customers,the followingbargraphis usedto illustrate whatisveryimportant
alonga continuumto what isnot importantat all to PPL employees.
3. Source:PPL Corporation. CustomerSatisfactionResultsPowerPoint. 2015. Accessedon:July7, 2015.
Analyze the data and draw a conclusion:
Data representingthe surveyas a whole:
male: 55%
female:
45%
in caf'
every day:
63%
in caf' 4
days/week:
14%
dissatisfie
d w/value
for money
male:
79%
Female:
72%
≤ 36yrs:
76%
≥36yrs:
76%
≥$3 per
week:
75%
≥4days
per
week:
79%
≤3days
per week:
69%
Data representingthat of customersdissatisfiedwiththe value of theirmoney,which is the focusof the
systemanalysis:
4. The data representedinthe firstgraphicshowsresultsforthe surveyasa whole;of the 135 employeeswhotookpartin
the customersatisfactionsurvey,55%were male,withthe other45% beingfemale. About63% of those surveyedspent
everydayinthe cafeteriaatsome point,eitherbreakfastorlunch,with14% spending4days perweekinthe cafeteria.
These resultswere interestingtolookatwhenthencomparingitto the separateddate forjustthose whowere
dissatisfiedwiththe valuefortheirmoneyinthe cafeteria,showninthe secondflow chart.
First,as mentionedearlier,there wasachange inmanagementamongthe general managersfrom2013-2015. There
coulddefinitelybe adifferenceintheirmanagementstyles,whichalsoincludestheirperceptionof how itemsshouldbe
pricedinorderto make a profitat the endof the day. This hypothesiswaslaterconfirmedbyourcurrentGM, whenhe
explainedthatthe previousGMdidtwo things:decreasedportionsize while increasingmeal price,whichcaused
employeestobe unhappy. Since thenJasonhasworkedtoincrease portionsizeswhilekeepingthe price where itneeds
to be for SodexoandPPLto make a profit.
Of those dissatisfiedinsome wayforthe value fortheirmoney,79% were male,and72% were female,whichIfound
interesting. Intermsof age, 76% were lessthanor equal to36 years oldand76% were greaterthan36 yearsold. Also
seeninthisdata,a majorityof those surveyedanddissatisfiedwiththe value fortheirmoneyspenteverydayof their
workweekinthe cafeteriaatmeals,ratherthan goingoutor bringingtheirownlunch. Thiscouldhave somethingtodo
withbeingdissatisfied. Maybe theyfeel the portionsaren’tbigenoughtomeetthe price pointselectedforthe different
meal options. Itemslike the salad barare pricedbyweight,where itemsfromthe deliare priceddependingonwhatthe
customerorderson theirsandwichorwrap. The actionstationand featureditemsare pricedata value deemed
appropriate bythe GM basedon the foodcost and foodcostpercentage. AsJasondidsay inone of our classes,aluxury
to servicingacorporate account isbeingable toessentiallyprice itemshow youneedthemtobe pricedtomake some
kindof profit. While Ido thinkhe has a definitepoint,basedonthissurveythe customersdonotseemtoagree withthe
pricing. But,alsoto note these customersare still inthe cafeteriaeveryday,whichcouldbe due tothe highqualityof
foodserved onsite at PPL. Therefore,whiletheycouldbe dissatisfiedwithvalueformoneybasedonportionsize for
featured,more expensiveitems,the foodinthe cafeteriaisalso convenient,whereasgoingouttoeatat a possibly
cheaperprice,althoughmightnotbe likelywithhigherendbarsandrestaurantsonHamiltonStreet,orevenbringing
theirownlunch,isor mightnot be consideredtobe convenientbythe customers. Giventhis,theyare probablymore
likelytopaythe higherprice forconvenience.
Some of the surveyparticipantsdidnote thattheywishtheycouldgethalf portions;sowhile somemaythinkthe
portionsare not large enoughtomeetthe setprice point,some maythinktheyare gettingtoomuchfor the price,and
like theyare wastingalot of moneyif theyare unable tofinishtheirmeal. We couldofferhalf portionsata reduced
price inthe cafeteriaforthose customersasan option.
PPL isalsoin a partnershipwithBuyFreshBuyLocal withbothLancasterFarm Freshcooperative andAmbrogi,where
theygeta goodamountof produce to supportlocal agriculture. If the produce orgrainsare not inseason,thiswill also
increase the price because theylocal farmwill outsource itfromanotherfarmorevenanotherstate,increasingthe
price further. While thismayseemlike anunnecessary,addedexpense onlyaddingtothe foodcost,I thinkit’sa great
wayto get advertisementandsupportlocal farms,andnota lotof local corporate businessesare doingso. Ialso think
the customersreallytake notice andappreciate thisaswell. Inaddition,afterspeakingwithJason,Idonot thinkthisis
the maincause as to whycustomersare dissatisfiedwiththeirvalue fortheirmoney.
5. Therefore,the portionsize,eithertoomuchor too little forthe currentprices,the partnershipwithBuyFreshBuyLocal,
and evenachange inmanagementoverthe pasttwoyearscouldall have an effectonthe customer’s perceptionof
value fortheirmoney.
State your conclusionas a PES Statement:Dissatisfaction with valueformoney related to a changein management
structure, asevidenced by 23% of customer’s surveyed reporting dissatisfaction with valueformoney in the cafeteria.
Make a recommendation:a recommendation could beto serve half portionsforcustomersso they don’tfeel they are
wasting food.
While workingthe deli forafewdaysduringthe lunchhour,I didrecentlynotice thatsome customers,onlyasmall
amount,do orderhalf portionsof sandwiches. Inthiscase,withthe card systemwe do at the deli forwrapsand
sandwiches,if someone ordershalf asandwichtheyare notchargedfor it. I didalsodiscussthisas an optionwithJason,
and he explainedthatwhile thereare some employeeswhodo gethalf portionsregularly,offeringhalf portions
consistentlywouldnotmake sense. Forexample,atthe saladbarand deli,thancan make theirsaladstothe size they
wantand alsohave sandwichespreparedhowevertheylike. Atthe actionstations,portionsare alreadydetermined,
and servingsomethinglikehalf of apiece of chickenorsalmon,or half of a saladwouldnotreallymake sense.
In regardto portionsizes,Jasonexplainedtousthat whenhe wasput inthe general managerposition, one of hismain
prioritieswastofix whatthe lastGM didwhichwas a bigno-no:of decreasingportionsizetosave moneywhile
increasingmeal costat the same time. He has since increasedthe portionsizestobe appropriate forthe pricesoffered.
In terms of PPL’spartnershipwithBuyFreshBuyLocal, while inthe internshipwe have beentryingtohighlightthisin
bothour cookingdemoandtheme meal produce. Ireallysupportthispartnershipandmypersonal goal wasto draw
more attentiontoit foremployeesnotaware of it.
*over the course of the surveybeingcompletedand beingat PPL, theyhave implementedaresponse to helpwith
value for money: one of the customersinthe surveyrecommended“havingacard where we couldkeepmoneyonit
and automaticallydeductfundswithoutusingourbankcreditcard or cash”. What a greatideaI wouldnothave thought
of,and it isalsoparticularlyawesome thattheydecidedtouse anactual customersuggestion! Thatis proof thatdoing
somethingassimple asasurveycan not onlyhelpyouidentifyaproblembutcanalso give youa solutionatthe same
time!
Withthissuggestioninmind,PPLstartedandcreatedsomethingtheycall the AppCardRewardProgram. The ideaof the
AppCardisthis:whenevercustomersuse the card,theyearn1 pointfor every$1.00 spent;forevery100 pointsearned,
theyget$5.00 off theirnextpurchase. Soif you thinkaboutit,if someone spendslet’ssayatleast$6.00 ontheirmeal
at lunchtime everydayof the week,itwouldtake about2 weekstoearn100 pointsandgetthe $5.00 off reward. The
AppCardisalso useable atJazzMan’sfortheircoffee:if acustomerbuys9 JazzMan’scoffees,theygetthe 10th
one free,
alongwithMaxwell House coffeeinthe cafeteria. If a customerbuys4 entreesatSandella’s,PPL’sflatbreadstation,
theygetthe 5th
one free.
The AppCardhas beeninuse for a little while now,andwhilecustomersare notrequiredtohave one,Ihave noticed
while inthe cafeteriathatagood majorityof themdo, whichwouldimplythattheythinkitisa good value andgiving
themthe rewardstheywere lookingfor.
6. Check resultsof actions taken: afterperforming thisanalysis,discussing ourideaswith our GM,and reviewing whatPPL
hasputin place since thesurvey,it seems like they are on the right track.
We discussedin-depthwithourGMwhat couldpossiblybe done tosolve thisproblem, intermsof thingstheyhad
thoughtof in the past whenthe surveywasdone aswell asmakingour ownsuggestions. Inregardto actuallyputting
somethinginplace,while we didmake andtalkaboutpossible suggestions,because itisalarge corporate account it
wouldhave beendifficulttostart andmake a change inour short amountof time here. We triedto discusswithJason
as bestas possible whatthe ideaswere and whatpossible outcomescouldbe,includedinthe recommendationsection.
PPL hasalso putthe AppCardinplace,whichisworkingwell forthe customersandallowingthemtoearnrewardsand
hopefullyfeel theyare gettingmore value fortheirmoney. Asof now,as a whole,the PPLemployeesare still infull
force in the cafeteriaduringlunchhours,withboththe AppCardandincreasedportionsizesworkingoutwell.