week 1 progress
GREAT MASTER001
ZangXueyeDunkinDonutspptanswer.pptxDunkin Donuts
My name
Institution
Course
Instructor
Date
Introduction
Consumer Reference
Feasibility Test
Market Scope
Testing and Customer Acceptance
Staffing
Roll Out Plan
CUSTOMER PREFERENCE
Market research and analysis
Competitor strategies
There is need to do market analysis so as to understand further what the customers want. Without market research, products and services offered will be null and void. Market research will also help understand what kind of product the customer and it is not being offered by competitors. It helps the business understand the strategies of competitors. The business will find ways of outperforming competitors based on what the customers prefer.
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FEASIBILITY TEST
Costs of starting the business
Profit projections
It is important to perform a feasibility test so to find out how much the business will cost. This the point that determines whether it is worth investing in the business. This where a forecast will be made to see projections. How long will it take the business to realize profits.
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MARKET SCOPE
Customers explore new brands
Implement new technologies
Make informed decisions
Undertaking market scope is to find the rational consumers who are keen on trying to explore new brands in the market. This phase helps in implementing new techniques of how to to do business. It will assist the company in making informed decisions hence reducing customer loss. It enables the company to meet customer demands effectively. Satisfied customers will ensure that the business keep growing.
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CUSTOMER ACCEPTANCE
The ultimate goal for every study is to answer key questions and provide up-to-date and reliable information to support the client’s strategic business planning.
Pricing strategies
The best way for a business to penetrate the market is if the customers accept the products and services that are being offered by the business. Here the business will set prices that are favorable to the customers. Not too high to push away consumers and not too low to avoid making losses.
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DUNKIN’S STAFFING
Employ qualified employees
Employees who share the visions of the business
Clearly state roles of each employee
Services will not perform themselves. A business needs employees to attend to customers. A business needs qualified employees who relate easily to customers and work faster to meet the requests of customers. Good employees will the reason customers keep coming to buy from the business. If the area is full youths, the business needs youths who can easily understand the demands of customers.
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ROLL OUT
Identify your niche and make sure the uniqueness of your product stands out.
Brand the product well in order to attract new customers as well.
Perform a SWOT analysis and monitor your products’ life cycle.
After all factors have been considered and observed, it is time to roll out the business. The best to win customers when the business becomes operational is to brand the business. Unique branding will draw customers away from competitors. The business needs to do a SWOT analysis and monitor the lifecycle of the products. The business needs to find a suitable location to set up the business. This is where the business finds out if the customers are satisfied with the services being offered.
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Conclusion
offer unique services
Employ qualified employees
Meet the demands of customers
Employ reasonable prices
In conclusion, for a business to be a success the level of attracting customers should be high. The business must employ better strategies that will run competitors out of business. The best strategies is offering unique products, reasonable prices on products. Employees should be qualified and easily understand the preferences of customers.
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