Problem Statement Prestige Inc.´s tries to penetrate the wedding planning market by providing high quality customer service and outstanding support for wedding arrangements. Event Planning is an area with a lot of different opportunities. The research dilemma that Prestige Inc. faces, is how to attract new customers and make the wedding planning as affordable as possible. In order to provide high customer service at a fairly valued price, Prestige Inc. needs to gather information and do outside research. The startup business Prestige Inc. will otherwise experience a shortage in customer availability. Recent research show complaints about too high prices on the wedding planning market. Prestige Inc.´s management seeks for information on the …show more content…
We will discover significant research to improve the company´s performance. Importance/Benefits The focus group required by the management of Prestige Inc. will set back the opening date by almost 2 weeks. Management´s analysis for this research approved the setback, because it will benefit the company in the long run. The differentiator and the resulting satisfaction of the customer´s need translate into positive reputation. The reputation influences the attraction of new customers and supports the high quality customer service of Prestige Inc. “Businesses also need this kind of unique selling proposition (USP) to stand out from the crowd. It 's a way to lure prospective customers in your door and away from competitors.” (Sugars, 2008). The conducted research will identify the differentiator, in other words the market gap. Higher quality in customer service will be a result, since the employee´s understand the desired needs of the customer. This research has the potential to help the business in the long run, which reimburses the late start of the …show more content…
was able to discover the solution to their management dilemma from the pilot test. The purpose of identifying a market gap, which leads to a differentiator, as well as discovering the desires and needs of our customers was fulfilled by the focus group. The panel did not come up with a solution which coincides with all customers. However, the management is now able to understand the customer in a better way and know how to interact with them efficiently. This will result in higher quality customer service, which in turn benefits the reputation of Prestige Inc. The panel indicates that each customers has individual desires, but also gives an insight in the overall thinking and perception of customer’s favorite wedding. Although each panelist had different answers, the visualized budget for spending on a wedding planner remains in a similar range. The range was in between $1,000 and $4,000. The result of this provides the management of Prestige Inc. with a development for certain arrangement plans. In addition, the detailed description of the panelists about their favorite wedding will result in higher customer service due to the fact of better knowledge and customer desires. The research also showed the significance of the wedding planner himself, as well as certain skills he or she must fulfill. The management staff can now immediately on the improvement of customer relations. Furthermore, the team agreed to stick with monthly customer open-end question surveys
Commencing penetration tests within the infrastructure of Alexander Rocco Corporation may be a strenuous, yet beneficial process. However, before commencing penetration tests, much planning, strategizing, and research is necessary in order to ensure successful, seamless, and legal operations. Based on information provided by the SANS Institute, an initial meeting should be coordinated between those responsible for conducting the tests, along with the appropriate leadership personnel of the company (source). Within the meeting, the scope of the project should be established, classifying company data appropriately, and determining which components of the company’s infrastructure require penetration testing, which may include Alexander Rocco Corporation’s
High levels of customer satisfaction will not guarantee future sales, but are more likely to result in repeat future sales than indifferent or poor customer service. Moreover, satisfied customers are more likely to try out other products/services in the firm’s range, or recommend it to friends and family. Build on customer loyalty Customer loyalty is valued highly by most businesses and can be
Accommodating customer requirements in most supply chain arrangement requires a forecast to drive the process. (book page 133) When looking into the definition of forecasting which is projecting what is going to be sold (units, seats, rooms etc) it is also important to take into consideration where and when in order to reach the future goals. (book page 133) Since it is argued that effective supply chain and logistical capacity is an important competitive advantage. (Christopher 2005) Where maximizing the revenue is the key element in hospitality sector and for hotel industry there is an increased attention on effective demand management and forecasting for reservation systems. (http://www.sciencedirect.com/science/article/pii/S0169207002000110)
In order to attract and retain the customers and to provide continuous excellent services, it is suggested that the managing director of JL should be open to recommendations, feedbacks as well as the opinions of the customers. JL should also cater platforms or gateway for individual customers to customize and tailor the products to their own liking, preference, taste hence creating an exclusivity and prestige and enhanced
Porcini’s Inc. is undergoing the process of growth and change. It is evident that the firm is entering in another phase that the management are pondering. The firm has employees who have the customer oriented minds and the management of Porcini’s expects them to cultivate the right customer attitude. The right kind of people is giving the entity the competiveness that the firm requires. There is risks when the growth of the firm grows or expands very fast than it can be controlled by the management. Given the fact that management need to select the options fully. Porcini’s management is conducting a customer research that will determine the customer’s needs in the market. The operation strategy, customer research and the location analysis for possible expansion will create huge value to the firm in the long
Six years after deciding to be an independent public company in late 2000, Coach Inc.’s net sales had grown at a compounded annual rate of 26 percent and the stock price had increased by 1,400 percent due to a strategy keyed to a concept called accessible luxury. Coach crafted the accessible luxury category in women’s handbags and leather accessories by differentiating themselves on price, but matching competitors on styling, quality, and customer service. The accessible luxury strategy mirrors a focus (or market niche) strategy based on low costs. Coach concentrates on a narrow buyer segment and outcompetes rivals by having lower costs than rivals and thus being able to serve niche members at a lower price. Management believed that new products should be based on market research rather than on designers’ instincts. Coach utilized extensive consumer surveys and focus groups to gain insight in the market, and ultimately a competitive advantage over competition. Coach’s $200-$500 handbags appealed to both middle class consumers who now were able to afford a taste of luxury, as well as affluent consumers with the means to spend $2,000 on a handbag on a regular basis.
Technology has created a major impact on the way in which all organizations market their products and services. With the development of the internet, companies are now able to economically market themselves on a global level. Even smaller companies that were once not able to capture international business due to the cost factor can now do just that. The Washington Plaza Hotel is no exception. The hotel industry in DC relies heavily on tourism as a major part of its client base. Many of these tourists who visit the city are of foreign nationality. It is important that the Washington Plaza Hotel targets these people when marketing the company. Not only do they target the tourist but they also target the international business travelers that come to the city on business related trips. The hotel's website, which gives detailed information about the hotel's accommodations and services, can be accessed by potential customers all over the world. In addition, the Washington Plaza Hotel has teamed up with such web-based travel services like Orbitz, Expedia, Travelocity, Etc. in order to capture more of the global market. Before the existence of the internet, the global market was not easily reachable. Technology has the greatest affect on marketing for many organizations and certainly for the Washington Plaza Hotel as well as the hospitality industry itself.
Superior customer value: strategies for winning and retaining customers (3rd ed.). Boca Raton, FL: CRC Press.
Customer relationship management They have determined the key factors in maintaining and building. their relationships with customers are to provide a problem free experience at their hotels and restaurants and to give each customer personal recognition. Their strategies to build these relationships. are the same as those employed to build their business, they are tied. to each other. They are currently developing a Group-wide Guest History network.
In the following report, we will analyze different dimensions of customer needs and discuss how to satisfy customers.
The wedding business has to take in consideration the ecommerce . too that time people were preserving maxima due to high inflation 2. How should BP have handled an external environmental analysis ties and what environmental changes and trends (opportunity and threats) might they have discovered? The builders, who have needed to work to meet BP 's assignments and who, to meet plan, transmuted working systems Is it administration controllers, who have been well aware of BP 's encroachments, however have endorsed it not to pay its fines and to propagate to work in safe matter.
So, furthermore, it is quite easy to enter and exit the market however, brand loyalty can influence how well your event planning does in the industry. Thus, consumers tend to look at the level of knowledge, expertise, and experience many event planning businesses entails in order to differentiate one from other competitors. Therefore, you tend to see that many consumers generally base their decisions and choices on if they have utilized the services previously, does the company have a great reputation, is the company known for exceptional services and events, and does other consumers speak highly about the business. All these factors contribute to how well a company excels over its competitors in the market. Moreover, these attributes and qualities brings forth and bridge brand loyalty among its consumers and potential consumers looking for quality services and companies within the event planning business and causes many event planning businesses to stand out and reign supreme over others. All the more making it harder for other incoming event planning business to excel due to others in the industry have the upper hand when it comes to knowledge and expertise according to many
It has been proven to be one of the most effective management initiatives because it can combine the knowledge, ideas, feelings, feedback from many parties together, especially between an organization and its customers. If this strategy is utilized successfully, it can bring many benefits to businesses. One of the benefits is the development of innovative products. For hospitality industry, two of the main ways to use this strategy is by customer surveying and talking with related parties such as customers, suppliers, business
With the dilemma stated, the management question would be how do we increase customer satisfaction? Research questions, which are the objective of the research study, would include – what can management do to improve customer satisfaction, how is employee attitude and motivation connected to customer satisfaction, should we add employee incentives to reward increased customer service ratings, and should we modify hiring and training procedures?
To effectively sell a product or service, organizations have to really know how customers behave, regarding to what they buy. The study