Management Book Report SiÑ Sigmа Quаntitаtivе Mеаsurеs - 550 Words

Management Book Report: SiÃ'… SigmÐ ° QuÐ °ntitÐ °tivÐ µ MÐ µÃ °surÐ µs (Book Report Sample) Content: SIGMA QUÐ NTITÐ TIVЕ MЕÐ SURЕSStudent nameCourse nameLecturers nameDateCustomer Requirement Quantitative Measurement 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 oth ers. 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 i mportant 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...