Relationships Built on Good Customer Service As Well As Good Quality Products
Analyze cash-flow patterns.
3 / Assess information needs
Determining who users of the information will be
What type of information is needed and what they plan to do with the information
What type of information is already available?
Costs involved
Timelines (how soon do they need the information?)
A needs assessment is a systematic process for determining and addressing needs, or "gaps" between current conditions and desired conditions or "wants". The discrepancy between the current condition and wanted condition must be measured to appropriately identify the need. The need can be a desire to improve current performance or to correct a deficiency. A needs assessment is a part of planning processes, often used for improvement in individuals, education/training, organizations, or communities. It can refine and improve a product such as a service a client receives. It can be an effective tool to clarify problems and identify appropriate interventions or solutions. By clearly identifying the problem, finite resources can be directed towards developing and implementing a feasible and applicable solution. Gathering appropriate and sufficient data informs the process of developing an effective product that will address the group’s needs and wants. Needs assessments are only effective when they are ends-focused and provide concrete evidence that can be used to determine which of the possible means-to-the-ends are most effective and efficient for achieving the desired results
In this case there are 2 sets of needs to be assessed. The needs of those seeking information on the companies through the evaluations of others, and the needs of those companies in wanting fair and ethical assessments.
Build and maintain relationships with customers
- participant may discuss how rewards card/app will increase customers and how special exclusive promotions could keep customers returning to the restaurant
- relationships built on good customer service as well as good quality products
- positive customer relationship lead to higher revenue
2 / Calculate inventory shrinkage
Most accounting systems are designed to tell a company how much inventory they should have in stock. Periodically, they will do a physical count of the inventory on hand. The “book inventory” (what the accounting records indicate we should have) minus the actual physical amounts of goods on hand equals our inventory loss or shrinkage.
In a restaurant, much of the inventory is not sold directly, but rather used to make other items (sandwiches, soup, etc). The restaurant will have a formula that will project how much their sales would be from a given amount of inventory. Calculating the difference between expected sales and actual sales will also indicate if shrinkage exists.
Check incoming stock.
3 / Clean service and work areas.
Coach employees
The purpose of coaching is to make sure they understand what they are supposed to do and be able to do it without error. In the case of inventory control systems, we need to make all personnel understand the importance of controlling inventory for the company’s profit situation. Presumably, as profits rise, the employee’s share of the profits will also rise, and a happier employee may be a more trusted employee.
2 / Coach others
The purpose of coaching is to make sure they understand what they are supposed to do and be able to do it without error. In the case of inventory control systems, we need to make all personnel understand the importance of controlling inventory for the company’s profit situation. Presumably, as profits rise, the employee’s share of the profits will also rise, and a happier employee may be a more trusted employee.
2 / Conduct a competitive analysis
SWOT Analysis – an outline of expectations (other formats are acceptable)
- Strengths, Weaknesses, Opportunities and Threats
Conduct an environmental scan to obtain business information
3 / Coordinate activities in the promotional mix
The four elements of the promotional mix are: advertising, sales promotion, publicity, and personal selling. All elements used should be coordinated to achieve the company’s goals. All initiatives should be coordinated to target the identified markets, clearly communicate the same underlying message.
- Advertising includes any paid presentation and promotion of ideas, goods, or services by an identified sponsor (Ex. Print ads, radio, television, billboards etc) Place advertisements that would appear locally promoting the award-winning coffee in newspapers, direct mail, posters/billboards Recognize that TV ads would be created for national chain by the national chain itself
- Sales promotions Incentives designed to stimulate the purchase or sale of a product (Ex. Coupons, sweepstakes, contests, rebates etc. Offer sample coffee taste cups at popular local events and venues) . Sales promotion includes media and non-media marketing communication in order to increase consumer demand, stimulate market demand or improve product availability
- Public relations includes paid intimate stimulation of supply for a product, service or business unit by planting significant news about it or a favourable presentation in the media and sometimes include direct marketing and sponsorship Contact newspapers and radio stations to come review or feature the restaurant or Sponsor local events
- Personal Selling is a process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation (Ex. Sales presentations, sales meetings, sales training) Each waiter should up sell by recommending products, especially our award-winning coffee
Create methods to market materials
- Marketing traditionally has been done by flyers, posters, value additions like coupons and sales, referral networks, follow-up, cold calling, the internet, and now through social media, and banner ads on phones, and websites.
- participant can discuss use of different types of media that are geared towards the target market
- participants may also discuss importance of naming the loyalty program and the overall look of the card/app for the customer
2 / Demonstrate a customer service mindset
A service mindset is an outlook that focuses on creating customer value, loyalty and trust. A business with this outlook wants to go beyond simply providing a product or service. It wants to create a positive and indelible imprint in the customer's, or even in the prospect's mind. To do this, a business has to care about the customer or prospect experience and work continuously at enhancing it
- Listen carefully to the customer’s complaint and acknowledge that you are there to help—in this case that the business meeting has been disrupted
- Explain that you appreciate and value the business that the customer has given you and that you would like the relationship to continue
- Provide customer surveys to get feedback from the customers. This could be done by a card with the bill, a website address or a phone call to important customers. There could be an incentive such as a discount or free dessert if they fill out the survey
- Use interpersonal skills to handle customer requests and questions, Understand management’s role in customer relations, understand procedures for handling difficult customers, explain business policies to customers and handle customer complaints.
- you should view negative customer interactions as opportunities to learn even more about the customers’ needs and expectations
3 / Demonstrate appropriate creativity
Creativity in the workplace is the next step up from problem solving. It is a real asset to employers hunters, if they can show how they bring additional value to the employer, and preferably prove a dollar value to that creativity. Initiative and good ideas are now much more appreciated than they were in the old hierarchical corporate jobs. Ideas are valuable, and so are employees who can get more value out of the endless possibilities of new systems.
Some people actually make much more of a career out of ideas, rather than just doing a job. The opportunities are always there. Everybody, on any job, soon figures out a better way of getting things done.
Most value adding is about dealing with volumes of work. Just as well, too, because that's how efficiency is achieved. It's a natural use of skills to make work easier and more productive. That's also why many people who are quite efficient in organizing their own work don't even recognize why they're efficient. They think it's common sense, but it's actually part of the creativity in the workplace effect. Think about how you've organized your own work to suit your own needs. There will be something. You may not have redesigned the whole workplace, but you will have done something to make yourself work more efficiently.
Now comes the rest of the question, how to show value in your creativity.
Work value is measured by:
- Profit
- Savings
- Improved time frames
- Increased efficiency in your own work
- Increased efficiency which carries through up the work chain to others from your own work
So you have to express the value of your creativity in those terms, to the judges, and show them why it's valuable. If you've come up with a better way of doing things, or a more efficient or obviously quicker way of doing your work, you've answered the question effectively, and made your point.As with all interview questions, you must structure your answer so the interviewers can see the processes involved, and the value of your work.
In this case, creativity is a very broad range of possible subjects, but you can simplify and clarify your answer:
- Explain the work, and the processes.
- Explain your idea and its benefits in terms of the productivity criteria.
3 / Demonstrate awareness of capabilities and limitations of the operation
The internal strengths and weaknesses of the firm as part of a SWOT analysis
Participant could indicate need for market research, the additional costs of a new product line, the possible loss of share in the other two established products as a result of this new item
Participant should address concern re possible slowing down of service due to increased kitchen demands – test market the Pork Tasty for one or two cycles in one location and determine impact. Recommendation is likely to be to have the item as a seasonal one – maintains demand due to limited supply
Chain has the expertise and experience to go forward – go slowly and test the market, assess after two cycles. Goal is not to compromise current good reputation for service and food. Feature the introduction during football season to attract the sports-minded male to try a new food – schedule would likely last three to four months.
Describe considerations in using databases in advertising
Marketing research has experienced a resurgence with the widespread use of the Internet and the popularity of social networking. It is easier than ever before for companies to connect directly with customers and collect individual information that goes into a computer database to be matched with other pieces of data collected during unrelated transactions. The way a company conducts its market research these days can have serious ethical repercussions, impacting the lives of consumers in ways that have yet to be fully understood. Further, companies can be faced with a public backlash if their market research practices are perceived as unethical.
Deceptive Practices The ease with which a company can access and gather data about its customers can lead to deceptive practices and dishonesty in the company's research methods. This type of ethical problem can run the gamut — from not telling customers that information is being collected when they visit a website to misrepresenting research results by changing database numbers. Any action that uses lies and deception to find out or establish information about consumers falls under this category.
Invasion of Privacy One of the most serious ethical considerations involved in market research is invasion of privacy. Companies have an unprecedented ability to collect, store and match information relating to customers that can infringe on a person's right to privacy. In many instances, the customer does not know or understand the extent of the company's infiltration into his life. The company uses this information to reach the customer with targeted advertising, but the process of targeting can have a chilling affect on personal freedom.
Breaches of Confidentiality Another significant ethical consideration involved in market research involves breaches of confidentiality. Companies regularly share information about customers with partners and affiliates, requiring the customer to opt-out of the sharing if he doesn't want to be involved. Some companies sell information they have gathered on customers to outside companies. Ethically, any unauthorized disclosure of customer information is problematic.
Objectivity Marketing and advertising have a significant impact on public perceptions. Market researchers have an ethical obligation to conduct research objectively, so that available data allows for the development of a balanced or reality-based picture. Researchers who allow their own prejudices to skew their work tend to contribute to the perpetuation of stereotypes in advertising, the development of destructive social constructs and the enabling of unjust profiting from poverty. For example, a market researcher with a one-dimensional view of minorities could do a fair amount of harm if allowed to shape an advertising campaign based on skewed data collection.
Describe current issues and trends in the food and beverage industrya)Health and Diet
- Carbohydrates
- Trans fats
- Cultural preferences/restrictions
- Did the student discuss the expanding role of technology within the industry
- Assess for accuracy and relevancy
2 / Describe current issues and trends in the food and beverage industry
Health and Diet
- Carbohydrates
- Trans fats
- Cultural preferences/restrictions
- Did the student discuss the expanding role of technology within the industry
Assess for accuracy and relevancy
Describe factors affecting business risk
Describe factors used by businesses to position corporate brands
Branding is all about creating unique identities and positions for products and services, hence distinguishing the offerings from competitors. Hence a corporate branding strategy can enable the corporation to further leverage on its tangible and non-tangible assets leading to branding excellence throughout the corporation
The main factors that go into defining a brand position:
- Brand Attributes: What the brand delivers through features and benefits to consumers
- Consumer Expectations: What consumers expect to receive from the brand?
- Competitor attributes: What the other brands in the market offer through features and benefits to consumers
- Price: An easily quantifiable factor – Your prices vs. your competitors’ prices
- Consumer perceptions: The perceived quality and valueof your brand in consumer’s minds (i.e., does your brand offer the cheap solution, the good value for the money solution, the high-end, high-price tag solution, etc.?)
- Quality image/products –
- Logo, slogan, unique storefronts/layouts
- Product appeal
- Control - promotion
Describe factors used by marketers to position products/services
Differentiation in the context of business is what a company can hang its hat on that no other business can. The positioning concepts focus on the rational or emotional benefits that buyer will receive or feel by using the product/service. Products/services should be positioned based on their comparative advantages
For example, for some companies this is being the least expensive. Other companies credit themselves with being the first or the fastest. Whatever it is a business can use to stand out from the rest is called differentiation. Differentiation in today’s over-crowded marketplace is a business imperative, not only in terms of a company’s success, but also for its continuing survival
Positioning is also defined as the way by which the marketers attempt to create a distinct impression in the customer's mind. Positioning is something (perception) that happens in the minds of the target market. It is the aggregate perception the market has of a particular company, product or service in relation to their perceptions of the competitors in the same category. Products/services should be positioned based on their comparative advantages.
A company can positively influence the perceptions through enlightened strategic actions
Marketers often use a Product Positioning Map to “map” out the position that their products occupy in comparison to the completion
These positioning maps are based on 2 dimensions
The most common dimensions are price and qualtity
So, for example, Rolex may be categorized as high price, high quality. Timex may be categorized as low price, high quality..
Some possible positioning strategies:
- Focus on healthy low calorie snack (< 200 calories)
- Price and quality
- Positioning by features and benefits
- Positioning relative to competition
Describe techniques for processing marketing information