Tags |
|
|
Links |
|
|
Actual for You - Management Foibles...When 20 Bucks and Ego Is More Important than a Decade of Customer Loyalty
Brainstorming is one of the oldest of the modern creative thinking techniques. Originally developed in 1941 by Alex F Osborn, it was first called "thinking up". Later Alex Osborn coined the term "Brainstorming". Brainstorming is primarily a technique of using ideas from a group of people to provide ongoing stimulation to that group in order to create more ideas. These ideas are then combined or developed into a practical answer to a challenge that was presented to the group at the beginning of the brainstorming session.One of the key concepts of brainstorming is that no criticism is allowed during the session. In fact, wild and unusual ideas are encouraged, in part because some of these odd sounding ideas become useful ideas and partially because these kinds of ideas can inspire other members of the group to come up with good ideas. Sometimes all a strange idea needs is some polishing. Part of the brainstorming concept is to build on other people's ideas.Often these brainstorming groups are an assembly of people with different backgrounds. These different backgrounds can enable the introduction of perspectives that might not usually be brought to bear in solving a particular problem. This can stimulate new ideas and can also allow the group to move beyond familiar roadblocks.Some studies have sug
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to frie
We’ve all seen some absolutely fantastic products, services or systems which are incredibly hot profitable money-spinners, and many of us have often wished we had thought of it first.But just where do the ideas come from? How do the creators come up with the products and concepts?Surely it’s based on massive research and development, huge capital investment, public scrutiny, market assessment - and that’s just a start.WRONG! Whilst the above may be true of some products, services, systems, ideas and so on, the absolute best don’t involve any such in-depth planning - far from it.I’m going to reveal to you the secret of how some of the biggest, best and hottest ideas are conceived. - and how some of the most successful ever product ideas, were positively the simplest.Don’t get me wrong, product testing and market analysis is still very important, but completely pointless until you have clambered over the initial hurdle of ’thinking up’ a product.Let’s look at a couple of brilliant examples of a product which is a world-wide name and multi-million dollar profit centers,Firstly, just about everyone on knows about Duracell Batteries, and how they came from nowhere, and trounced the competition virtually overnight.Was it because their batteries were better than the competitio
I recently had an experience that clearly demonstrated the crucial need for better training at all levels, from entry-level employees to management. This situation occurred at a local tire store, one that is part of a national chain—of which will go unnamed—but claims in their name to be pros with tires. The store manager made the decision that $20 in his cost on labor, and his need to be right was more important to him than a loyal 10-year customer.
Let’s Review the Benefit of from 10 Years of Customer Loyalty:
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to frien
Does bill Gates know something we do not know about Six Flags amusement parks? No probably not, but anyone as smart as he, certainly understands the future of Virtual Reality. Look at the new X-Box 360-degree system? Obviously Microsoft gets it and their research teams may have entered the Virtual Reality Realm a little late, but they certainly understand gaming. Mr. Gate’s increased his holding in the company from 8% to 10%. There can only be one reason in my opinion, Virtual Reality is coming to a theme park near you. This probably makes a bit of sense and also a rebounding economy tends to really bolster Theme Parks. In GA actually in Six Flags over Georgia, where actually they are still arguing over one particular flag some interesting things are happening;http://atlanta.bizjournals.com/atlanta/stories/1998/06/01/story1.htmlLots of spending and upgrading, however I believe that Bill is smart enough to understand the next wave of technology in Theme Parks will be VR-Virtual Reality and boy has it come a long way these days, Science and computers are moving at an incredible pace, almost unheard of in this arena. Think I am wrong?http://www.abacon.com/vitanza/cyber/Gates.htmlhttp://www.monitor.ca/monitor/issues/vol3iss11/feature4.htmlhttp://www.thebee.com/bweb/iinfo58.htmhttp://w
I recently had an experience that clearly demonstrated the crucial need for better training at all levels, from entry-level employees to management. This situation occurred at a local tire store, one that is part of a national chain—of which will go unnamed—but claims in their name to be pros with tires. The store manager made the decision that $20 in his cost on labor, and his need to be right was more important to him than a loyal 10-year customer.
Let’s Review the Benefit of from 10 Years of Customer Loyalty:
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to frie
Each year businesses around the US have to decide whether or not to send Christmas cards to their clients. Christmas cards are generally accepted as a great way to stay in contact with clients. Christmas cards are often the one contact a client may receive from the business in that year.But the issue comes up about whether a true Christmas card should be sent or a generic Season’s Greetings holiday card. Many businesses do not want to offend their clients. Unfortunately, some will be offended if a religious card is sent and some will be offended if a generic card is sent. It seems to be a no win situation. It’s important to keep in touch in this minor way but what is the best course to take?I’d like to offer two optional suggestions. Rather than sending a traditional “Christmas” card, think about another holiday. There are two holidays very near Christmas that both offer a perfect reason to send a card.Thanksgiving. While this is a US holiday, it does not have any religious associations attached. This would be a great time to send a card. A Thanksgiving card can express your thanks for their continued loyalty to your business. It allows you to really thank them rather than just being one of the crowd. Sending a Thanksgiving card also allows your card to be the first card received to get that e
Let’s Review the Benefit of from 10 Years of Customer Loyalty:
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to frie
The bandwagon is moving towards incentive programs, particularly travel incentives as they promote successful outcomes. I highly recommend that as an executive, manager, entrepreneur or business owner you join this bandwagon.A recent comparative study on incentives showed a stronger preference for travel incentives. According to incentive experts, if you want average or below average performers to get in the game, then introduce a good incentive program in your organization. It is no secret that keeping clients happy and keeping your employees motivated is an on ongoing challenge for mangers, executives and entrepreneurs today.A number of your competitors are already using travel incentives to attract customers and motivate employees. They have discovered that keeping clients and motivating employees is easier with travel incentives. It is considered the most important tool in businesses today. You too can use them to: Boost morale Build customer loyalty Build dealer traffic Improve safety Increase market share Increase sales Inflate productivity Maintain sales during a slow period Promote a specific product Show appreciation Smooth out factory operations Win new customers Yo
Let’s Review the Benefit of from 10 Years of Customer Loyalty:
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to frie
Very easily, Six Sigma is your best bet for maximizing return on investment, more so in troubled economic times. However, the success of implementation depends much on its achieved degree of alignment with the problems. Ifs and buts not withstanding, there are stories to support both sides of the issue. First let’s consider the negative side of the story.Why Do We Hear Failures To Achieve Projected ROIs On Six Sigma Investments?We hear failure stories not just because they are reported but because they occur. Now, why do they occur so much as to be heard in the open? The first reason any practitioner can give is the lack of support from the top management. Considering long implementation periods, commitment levels sometimes wither away and consequently the effects percolate down the line of the organization. And project implementation turns into a ritual exercise. The claims of $1 million per Black Belt in ROI can appear more and more unrealistic.It is not enough to blame top management alone. Champions and Master Black Belts on their parts could scale down the projects that result in slashed expenses. High returns can be realized in this scenario by driving projects initially through the internal market to gain much-needed support. Things are subjective to multiple aspects but a complete turnaround is no
>New tires (sets of four) on 3 cars—approximately 8 sets at an average of $300 per set equals a minimum of $2,400 in retail sales.
>Satisfied customer recommendations to friends and business acquaintances—in this particular case the bare minimum is referral benefit is a fleet of 18 cars and trucks that moved their account to this particular store five years ago based on my recommendation. This referral has resulted in approximately 9 sets of car and truck tires purchased yearly by the company. At an average of $400 (truck & SUV tires are more expensive), the yearly sale to this company is $3,600.
>The bare bones minimum value this store received from one customer’s loyalty and referrals for 10-years is $20,400.
Let’s Review What the Store Will Most Assuredly Lose in the Coming Decade from the Manager’s Seemingly Inconsequential $20 Decision:
>Within the next 2 months, the store will lose the sales on sets of tires for both a
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.actual4u.com/article/7850/actual4u-Management-FoiblesWhen-20-Bucks-and-Ego-Is-More-Important-than-a-Decade-of-Customer-Loyalty.html">Management Foibles...When 20 Bucks and Ego Is More Important than a Decade of Customer Loyalty</a>
BB link (for phorums):
[url=http://www.actual4u.com/article/7850/actual4u-Management-FoiblesWhen-20-Bucks-and-Ego-Is-More-Important-than-a-Decade-of-Customer-Loyalty.html]Management Foibles...When 20 Bucks and Ego Is More Important than a Decade of Customer Loyalty[/url]
Related Articles:
Napoleon Hill - Teacher To Millions
Bookmark it:
|