They are responsible for retail store tracking, bringing in new inventory based on consumer demand, creating sound financial plans that reduce company spending, and increase overall profit (Bordelon). Since the main goal of a Merchandise Planner is customer satisfaction their job can be best described as “being a liaison between the customer and the marketing and buying department, ensuring what the customer wants is available” (Bordelon). They review forecasts, use past performance to make projections, make recommendations for promotional markdowns, and manage inventory to maximize profitability. Additionally, merchandise planners research market trends to increase create more attractive
1.2 Explain different methods of segmenting and characterising customers The key to a successful business is to find out who our customer base is, what the customer wants, the age, gender, spending patterns etc. This is the reason we have marketing research because it can identify different customers and recognise what we need to do as a company to meet the demands of the market and keep us competitive.
As far as primary market research is concerned, there are different types of market research done by many companies. To gather the accurate information from the market about the product trends, primary research technique is the best method. The primary data which is generated from different techniques can be in the form of qualitative and quantitative in nature, which means usually in the form of words or numbers. Following the different types of types of primary research: • Observation – Under observation technique, it involves watching of your potential customers and their behavior. The experts do observation of customers who are buying product and services similar to our company and listening what the customer says during shop and how much they pay.
It increases the awareness and obligation of employees. They would concrete on the works and responsible for the job. Also, they clarify the values and goals of the organization. It ensures that they would not have violation on company’s goals. Strong organizational culture also benefits to decision making.
The feedback form well gives the result that company is making the relations with the customers or not good or it good. By this we well get the information about the sales relationship if it is Strategy to improve personal networking not good then the company have to make it good. Sales record: Every organisation have to produce some product that has to be the sale into the market. The product is made for full filling the need of the customer through that company generate the profit. The product has to be a sale to the customers.
1. Explain at least 2 purposes of performance management and its relationship to business objectives: The performance management aims to create a culture which encourages the continued improvement and development of the organization and of the individual behavior, skills and contribution. Performance management process is an important component of the overall working approach. In terms of the basic delivery of outputs, as well as to enable one employee to be expected fully to know performance within the scope of the performance management system, the aim of performance management to achieve to following: to enable the individual to understand what exactly to achieve in terms of output and relevant, and in appropriate behavior style, which an individual employees objectives to agreed delivered to simplify and to meet personal development which needs to facilitate the delivery of the agreed objective. It enables the
These insight can be gathered from consumer surveys, both qualitative and quantitative in nature, which can help the company to gather data on the strength and weakness of the brand and product attributes that are associated with frequency of purchase and usage of the product. Moreover these consumer insights help companies optimize their marketing budget, where in case of Pillsbury same advertising that was shown in
The individual with have greater confidence and resilience to deal with any problems that occur along the way. Not only does it have benefits to the individual, but also to the organisation. It allows the organisa-tion to gain a better understanding of the individuals goals, strengths and development needs. It helps managers/supervisors develop their own coaching and management skills (which would be part of their own development plan). Overall, it will increase productivity in the workplace due to clearer objectives and better skills learnt and the organisation can keep track of employee perfor-mance.
Leadership is the skills and the ability to motivate, inspire and support people who are looking to accomplish organisational goals. So, leaders responsibility are to serve their followers by providing them with the adequate tools that can help them to achieve their goals efficiently. Moreover, leadership about maintaining control and the power over followers, influencing them, and ensuring their compliance in following a set of directions and actions (DuBrin, 2015) Leader serve different stakeholders; for example, they provide services for customers, suppliers, partners, employees and other involved people within or outside of a company. Thus, leaders are in continuous collaboration and communication with different groups of people. The most important group of stakeholders are those who follow the leader's guidelines and support him or her to achieve organisational goals.