... Customer expectations and customer emotions in the services encounters Customer Satisfaction and Service Quality The rate of service quality, Service failure and service recovery Part III Pg5 Recommendation: Service gaps model 8 Conclusion. Part IV Pg6 Reference List. Appendices INTRODUCTION. The purpose of this report is to critically and thoroughly evaluate five (5) service encounters from five (5) different industries. This evaluation will largely be in term of the service quality marketing theory. It consist of the relationship between service quality and customer satisfaction, then finding the gap and reasons for the pointed gaps, and why customer expectations and emotions are vital to service provider and finally the recommendation for further improvements in customer satisfaction maximization. Part I. Customer satisfaction is the utility a customer derive from consumption of a given service. Nevertheless (Giese and Cote) customer satisfaction covers three (3) vital elements which are (1) Summary affective responsive that varies in intensity. (2) Satisfaction focus around product/service choice, purchase and consumption and (3) Time of determination which varies with situations, but generally limited in duration. However (Zeithaml, Bitner & Gremler 2009) pointed out that customer satisfaction is more of the service to meet customer’s needs and expectations. This is highly...
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...2. In the year 2009, the world was experiencing an economic recession. However, the economic downturn in Australia was not as bad compared to countries such as the United States and the United Kingdom. This is due to the fact that the Australian government successfully managed to control the economy. During the recession, there is a recessionary gap which is the amount that aggregate expenditures fall short of the full-employment GDP. This fall in consumption will cause a decline in sales profit and revenue and cause some firms to collapse. In order to survive this harsh environment, firms will put more effort in saving cost which will cause an increase in the unemployment rate. The graph below will be used to illustrate the recessionary gap. E 45° C+I+G=AE C1+I1+G1=AE1 Real GDP Recessionary gap In order to fill up this recessionary gap, (http://news.bbc.co.uk/2/hi/8080446.stm) the government also introduced a number of multi-billion dollar stimulus packages, including increased infrastructure spending and cash handouts to most Australians since the end of last year to lift consumer spending. In addition, the recovery of the Chinese economy has once again created massive demand on commodities which has greatly boosted the regional share markets (http://news.bbc.co.uk/2/hi/8546717.stm). The stimulation will merely stimulate the economy but the effect will wear off and the crisis will be back. Sometimes, the effect of the fiscal policy is dependent on the country. Referring...
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...Relationship marketing (5 approaches & basic principles) Relationship Marketing refers to a long-term and mutually beneficial arrangement where both the buyer and seller have an interest in providing a more satisfying exchange. This approach attempts to transcend the simple purchase-exchange process with a customer to make more meaningful and richer contact by providing a more holistic, personalized purchase, and uses the experience to create stronger ties. With the growth of the internet and mobile platforms, Relationship Marketing has continued to evolve and move forward as technology opens more collaborative and social communication channels. A simple example of this would be sending new customers a "Welcome Kit," which might have an incentive to make a second purchase. If 60 days pass and the customer have not made a second purchase, you would follow up with an e-mailed discount. You are using customer behaviour over time to trigger the marketing approach. Relationship Marketing Vs Transactional Marketing Transactional marketing is a business strategy that focuses on “single point of sale” transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with buyer. On the other hand relationship marketing is a business strategy that seeks to establish long term relationship with its customers rather than focusing on single transaction, not only does it focus on individual customers but on all the stakeholders...
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...PROJECT REPORT ON “TECHNICAL ANALYSIS OF BANKING SECTOR AND ANALYSING MARKETPERFORMER, OUTPERFORMER AND UNDERPERFORMER” SUBMITTED TO THE UNIVERSITY OF MUMBAI IN THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MASTER OF MANAGEMENT STUDIES SUBMITTED BY MANISH BANSIDHAR INGALE UNDER THE GUIDANCE OF Mr. DEWANG MEHTA SHAH AND ANCHOR KUTCHHI ENGINEERING COLLEGE DEPARTMENT OF MANAGEMNT STUDIES CHEMBUR, MUMBAI BATCH 2012-2014 Declaration I declare that the Master’s script that I hereby submit for the degree of Master of Management Studies at the Department Of Management Studies, Shah and Anchor Kutchhi Engineering College, has not previously been submitted by me for a degree at another university. Manish Bansidhar Ingale 10th feb, 2014 Chembur i ACKNOWLEDGEMENT By the grace of God who has provided me with the skills and abilities to be able to complete this report and present a clear picture of what I have been doing during the course of my internship. I would firstly like to thank the Department of Capital Market, for making this learning experience a part of our education and specifically thank PROF.DEWANG MEHTA for his advice and assistance in helping us avail this opportunity. Lastly I would like to express my deepest and utmost thanks to my parents, who have made me whatever I am today. ii ABSTRACT The field of equity research is very vast and one has to look into various aspects of the functioning...
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...PROJECT REPORT ON CONTENTS OF THE PROJECT: * Acknowledgement * Executive Summary * Objective of the Study * Quick Service restaurant in India * Key drivers in Indian quick service restaurants * History * Introduction * Strategies taken by Domino’s * Service Blueprint of Domino’s * 7P’s of Domino’s * Flower of Services of Domino’s * Service marketing triangle of Domino’s * Methodology of conducting Primary survey * Analysis of the Survey * Suggestions & Conclusion * Appendix: Questionnaire ACKNOWLEDGEMENT The satisfaction and euphoria that accompany the successful completion of any task would be incomplete without mentioning the name of the people whose constant guidance and encouragement has crowned all our efforts with success. As the students of the IILM-GSM, we would like to express our sincere thanks to Mrs. Tripti Ghosh, who helped and guided us to structure the project. EXECUTIVE SUMMARY This report is based on services offered by dominos and also to test the quality of service dimensions of Domino’s. India's quick service restaurant market worth $13 billion is growing 25-30 percent a year on the back of changing and busy lifestyle, fast emerging middle class population and surging disposable income, the industry will continue to grow at a pace in coming years. It now accounts for roughly half of all restaurant...
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...Gap Analysis: Riordan Manufacturing University of Phoenix Human Capital Development MBA 530 Mar 18, 2007 Gap Analysis: Riordan Manufacturing This analysis looks at situations, challenging issues and opportunities facing Riordan Manufacturing, a global plastics maker headquartered in San Jose, California. Through this analysis, problems will be identified that Riordan Manufacturing would have to resolve in order to be successful. By resolving their problems and realizing their opportunities, Riordan will improve their human resource practices, which will give them a competitive advantage. Situation Analysis Issue and Opportunity Identification Riordan Manufacturing has annual revenue of $46 million with 550 employees. The company is a subsidiary of Riordan Industries, which is a fortune 1000 company with revenue over one billion dollars. Production is divided among three plants: plastic beverages containers located in Albany, Georgia; custom plastics parts located in Pontiac, Michigan; and plastic fan parts located in Hang Zhou, China. Research and development is handled in San Jose, California. Riordan’s major customers are automotive parts manufactures, aircraft manufacturers, beverage bottlers, appliance manufacturers, and the Department of Defense. Recently, Michael Riordan, President and Chief Executive Officer (CEO) made strategic changes in their manufacturing and marketing of their products. Their declining sales and profits over the last couple of...
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...TOPIC : SUBWAY Submitted to: Prof. BRIJESH MBA Dept Submitted by: Punith R Pokale 1PT12MBA58 CONTENT * INTRODUCTION * FLOWER OF SERVICE FOR SUBWAY * HARD AND SOFT SERVICE STANDARDS * CHANNELS OF SERVICE DELIVERY * COMMUNICATION MIX * SERVICE BLUEPRINT * SERVICE QUALITY GAP MODEL AND QUALITY DIMENSIONS * PRICING STRATEGIES * CRITICAL ANALYSIS INTRODUCTION SUBWAY has come a long way in India since it opened its first restaurant in India. Young Indians have warmed to the image of the American chain, and made it one of their favourite places to swarm to, and hang out in. Subway has very successfully entered the Indian market and sustained its growth by developing a unique menu to appeal to the Indian taste. If you are a foreigner visiting India, you might be interested in indulging in some of the Indianite treats at Subway -- for example, the legendary paneertikka sandwich. Also, as an Indian you might be interested in some of Subway’s Continental treats like the Italian B.M.T. Subway offers a wide variety of submarine sandwiches and salads on its menu. It offers an assortment of vegetarian and non-vegetarian fares. They also cater to the health-conscious customers by providing them with 97% fat free subs. Subway offers a separate specialty menu for breakfast. Apart from...
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... 1.According to Okun's Law, if the normal rate of growth of GDP is 3% and the current unemployment rate is 6%, an increase in GDP growth to 4% would cause unemployment to change by what percentage? 2.When total output, income, employment, and trade decline for 6 to 12 months, the economy is in what part of the business cycle? 3.Which has a larger effect on aggregate demand: an increase in government expenditure or an equal sized decrease in taxes? Explain your answer. 4.To eliminate a recessionary gap, what fiscal policy should the government pursue? Be specific. 5.Indicate which of the following is expansionary OR contractionary fiscal policy: •Increasing income tax •Bailing out the auto industry •The purchase of military helicopters Assignment Expectations Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper. Length: 4–5 pages double-spaced and typed. The following items will be assessed in particular: •Your ability to understand an application of fiscal policy. •Some in-text references to the modular background material (APA formatting recommended). •The essay should address each element of the assignment. Remember to support your answers with solid references including the case...
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... 1.According to Okun's Law, if the normal rate of growth of GDP is 3% and the current unemployment rate is 6%, an increase in GDP growth to 4% would cause unemployment to change by what percentage? 2.When total output, income, employment, and trade decline for 6 to 12 months, the economy is in what part of the business cycle? 3.Which has a larger effect on aggregate demand: an increase in government expenditure or an equal sized decrease in taxes? Explain your answer. 4.To eliminate a recessionary gap, what fiscal policy should the government pursue? Be specific. 5.Indicate which of the following is expansionary OR contractionary fiscal policy: •Increasing income tax •Bailing out the auto industry •The purchase of military helicopters Assignment Expectations Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper. Length: 4–5 pages double-spaced and typed. The following items will be assessed in particular: •Your ability to understand an application of fiscal policy. •Some in-text references to the modular background material (APA formatting recommended). •The essay should address each element of the assignment. Remember to support your answers with solid references including the case...
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...“Posen is right: a dovish approach to UK inflationary pressures is sensible” I believe that it is currently necessary to maintain interest rates at 0.5%. There are many reasons behind my belief that current interest rates should be maintained. [pic] Inflation rate in the UK at March 2011 was around 4%. We are currently in the middle of the most expansionary monetary policy in the history of the UK and this has only generated a rise in inflation to 2% above target. I recognise that inflation has been above target now since late 2009. In the Bank of England Inflation Report, it is predicted that inflation will be significantly above target for 2011 but should fall back quite sharply to around the 2% target in 2012. As we can see from the diagram the CPI-Y rate which excludes VAT and other indirect taxes is just over the target at around 2.5%. This is a rate which is more focused on core inflation and one which many believe monetary policy should be based on. As a number of the MPC members have said, it is somewhat tempting to give a temporary rise in interest rates to satisfy the public and the markets that the MPC are still interested in keeping inflation low. However, the main concern is the long term health of the economy and policy should be based on what we expect in the future. CPI is currently above average due to a combination of the low value of the pound, the high price of commodities and the increase in VAT in January 2011. However, the underlying...
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...1 Issues in Financial Reporting The path to knowledge cannot be found without visions and an overall picture. ± R. Mattessich oday's dynamic business environment is heralding a revolution in the need for, and the way in which, accounting data is utilized. This has resulted in talk of `an accounting revolution' (Beaver, 1998) and the possible `rede®nition of accountancy' (Elliott, 1998: 7). However, it is all too easy to become caught up in this stampede for change, but how far can accounting change and for it still to be called accounting? This chapter seeks to explore the major issues facing contemporary ®nancial reporting ± this will include its interrelationship with external auditing and the provision of assurance to those outside the reporting entity. After all, `[e]ffective reporting and accounting, and external scrutiny from auditors, are essential for effective corporate governance' (Company Law Review Steering Committee, 2001: para. 8.1). To understand the ®nancial statements, one needs to appreciate the auditors' work and opinion, and, conversely, to understand the auditors' work and opinion, it is necessary to appreciate the scope and limitations of the ®nancial statements. All too often, ®nancial reporting and external auditing are treated and discussed in isolation despite being inextricably linked. However, the ®nal ®gures in the ®nancial statements may come about as a result of negotiations between management and their auditors ± with the auditors examining...
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...penetration pricing is skimming. Skimming gives more of the cost-value cap to you than to the customer. This strategy is appropriate in a variety of situation. For example, if there is a strong price-perceived quality relationship and the value proposition includes a position of the product at the high end of the market, then this objective makes sense. Financial Objectives * Reach profitability by year two. * Reduce store overhead by 5% each year. * Have a double digit growth rate for the first few years. The product-line approach involves offering both a high-priced and a low-priced brand. For example, this is a classic strategy that Procter & Gamble use. Just for Women Shoes strategy would be running and work out sneakers at the premium level and everyday work pumps (black, navy, brown) at the low end. Value pricing is related to customer expectations: It gives more value than they expect for the price paid. Just for Women Shoes Differential pricing or competing against private brands is to reduce the price gap to the point where consumers are willing to pay and therefore value the brand name. Just for Women Shoes will develop new market segments that are less price sensitive and build stronger relationships with the channels of distribution. The price a company chooses to set for its products and services are one of the most important aspects of its marketing strategy. High prices results in more revenue per unit sold, but...
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...Virtual Stock Exchange Portfolio Management Project Purpose The purpose of using Virtual Stock Exchange is to give you a better understanding of trading strategies and portfolio management. You will also learn a variety of financial instruments and their risks and rewards as they apply to asset management. Project Overview and Goals Acting as a prospective portfolio manager for Holy Cross International clients, your potential clients have entrusted you with $100,000 to invest at your discretion until June 15th, 2012. They are expecting you to invest their money wisely and profitably. While your clients desire a high rate of return, their tolerance for risk is considered low. Additionally, your prospective clients are considering other asset managers (your classmates) and will be ranking each according to the success of their portfolio management. You will be able to track how you are measuring up throughout this exercise. At the end of the trading period, if your clients are satisfied with your performance managing their portfolio, they will extend their relationship with you. Specifically, they are concerned about the following criteria: * Returns * Absolute return: The total dollar increase in the portfolio over the trading period * Risk-adjusted return: The return on the portfolio taking into account the level of risk assumed by you, as measured by Holy Cross International’s Chief Investment Officer Mr. Clarke. * You are instructed to have your...
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...* Industry Definition – Providing an avenue for consumption purchases * Industry Value Chain – Fig 2.3 Page 2.9 * Value chain is being altered which increases value for the consumer as the retailer “middle man” is being cut out. Where merchandiser has direct access to the consumer. Banking industry has followed suit to create BPAY, Paypal etc. * Product Segmentation * Clothing * Small Goods * White Goods * Food * Music * Movies * Services * Industry Life Cycle – Fig 2.8 Page 2.19 * Early stages of the Growth Cycle * Remote Environment * POLITICAL – Change in legislation – ie. Tariff attached to every purchase. Negative * ECONOMIC – Exchange rate fluctuations – most online shopping growth is coming from intl. Labour Costs – need to reduce in order to make retail shopping more competitive. Positive * SOCIAL – Better Security – with entering personal banking information for online payments. Work/Life balance – Convenience and time poor. Positive * TECHNOLOGICAL – More efficient. Very dependent on advancing technology. Cost of production is reduced as the “middle man” ie. Retailer is reduced. Positive * ENVIROMENTAL – Logistically – more trucks on the road to make deliveries. Increased Packaging. Negative * LEGAL – Actually changing the legislation – to allow companies to ship to Australia. Positive More positives than negatives – industry...
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...being reached over a wide range of sectors. While inflationary pressures have also risen, the performance of the monsoon so far has been significantly better than during last year. While rainfall is still below the long period average at the all-India level, it has been enough to induce a significant increase in sown area across a range of crops, the high prices of which have been a source of great worry. 3. The dominant concern that has shaped the monetary policy stance in this review is high inflation. Even as food price inflation and, more generally, consumer price inflation have shown some moderation, they are still in double digits. Non-food inflation has risen and demand side pressures are clearly evident. With growth taking firm hold, the balance of policy stance has to shift decisively to containing inflation and anchoring inflationary expectations. 4. This policy review should be read and understood together with the detailed review in Macroeconomic and Monetary...
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