As mentioned in the previous module, management must develop systems and measurements that assess how well the new product or service is effectively branded, realistically align with the corporate mission, differentiate from the competition, and are appropriately priced


As mentioned in the previous module, management must develop systems and measurements that assess how well the new product or service is effectively branded, realistically align with the corporate mission, differentiate from the competition, and are appropriately priced. These can be both internal and external. Also, communication feedback must be shared within and among departments in an organized and timely manner. The following are suggestions for accomplishing these tasks. This is not an exhaustive list, but is meant to serve as a guideline.

Effective branding:

  • Customer surveys (phone, email, online, point-of-purchase)
  • Social media comments on Facebook and/or Twitter o Consider also evaluating feedback from the company that customers receive via the social media platform
  • Interactions on any company blogs
  • Monitoring of sales figures and comparison to previous months and years

Aligning with corporate mission:

  1. Review the mission statement
  2. Review product or service qualities and values that it delivers to the customer
  3. Assess similarities and differences o For example, the mission of Sleep Country is “to earn customers trust and exceed their expectations when they purchase a new sleep system. We care as much about the service you receive as the bed you purchase” (Stanleigh, n.d., para. 11). If a review of customer calls and quantity of returned merchandise shows that a determined high number of mattresses are falling apart and that customer service is simply adequate and not exemplary, then the product and level of service needs to be realigned.

 

Differentiating from the competition:

 

  • Customer surveys (phone, email, online, point-of-purchase)

 

MBA 560 Module Seven                                                                                                                                                                          1

 

  • Compare the qualities of your product or service to those of the competition to determine if a significant difference exists o Quality
    • Distribution channels o Image
    • Customer service

Appropriate pricing:

  • Monitor sales figures and compare to previous months and years
  • Compare company product or service offerings (see above) that differentiate from competition and assess whether the price is in alignment with the product or service’s market position

Communication within and among departments is an essential part of the feedback process. How and how often this happens is critical to successful continuous improvements. Figure 71 below is meant to spur thought on the appropriate communication medium.

Figure 7.1

(Saunders, 2015)

Also consider scheduling meetings regularly, whether they be weekly, monthly, quarterly, or yearly. The timing may be different for interdepartmental meetings and intradepartmental meetings.

Overall, the evaluation and refinement activities with an organization help ensure it continues to move with the market while staying true to its mission.

2                                                                                                                                                                         MBA 560 Module Seven

References

Saunders, E. G. (2015, Mar 20). Do you really need to hold that meeting? Harvard Business Review. Retrieved

from https://hbr.org/2015/03/do-you-really-need-to-hold-that-meeting?

Stanleigh, M. (n.d.). Aligning your mission with customer value. Business Improvement Architects. Retrieved from http://www.bia.ca/articles/AligningYourMissionWithCustomerValue.htm

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