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Successful Business and Customers Assignment

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Added on  2019-10-18

Successful Business and Customers Assignment

   Added on 2019-10-18

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ANSWER 1:-Customers are very important to the success of any organization.it should be necessary for theorganization to focus on their valuable customers. Sigma can achieve its overall growth only bysatisfying its available consumers. But it is very difficult for the organization to find the targetconsumers. Every business finds that some consumers have great value than others. This can bebecause of various reasons. Successful businesses are generally those who find their mostvaluable customers at a time. (Hollensen, 2015) When sigma is engaged in producing a particularproduct than during its processing it should focus on their target customers. For this Sigmashould collect all necessary information about their customers, all this information helps Sigmato build a useful profile of their customers. This includes the followings:-Who they are: - it includes the age and gender of individual consumers or industry andsize of the organization for customers. What customers think and believe: - it includes the interest of the particular consumersand opinion regarding any product.Purchasing behavior of employees: - this helps the Sigma in identifying what consumersprefer? And from where they want to buy? Or how much they want to pay?Profiling customers in this manner helps the Sigma in grouping their customers intodifferent segments, each of then can be satisfied easily as per their wants. Sigma can alsouse IT software's to collect the data regarding the customers and then for analyzing allinformation for concluding result. By using it, Sigma can be effectively successful insatisfying their target consumers and growth in future.1
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ANSWER 2:-Sigma has limited resources so; it should utilize its resources in the best manner. It isnecessary for Sigma to identify their target customers if it wants to maximize their sale infuture. There can be following initiatives which Sigma can take to identify their targetcustomers:-Draw a picture of target customers in mind: - Sigma should develop a picture of theirpotential customers for which it is producing goods. (Schoenfeld, 2014) Once Sigmadevelops a picture, it can position all its customers in different segments.Think about its Market:- Sigma should conduct a research of their market for identifyingthe needs of the customers this helps in developing the product as per their needs andthen identifying the potential buyers for that product. Conducted market research givesthem knowledge about different market trends.Look internally: - the most important step Sigma should perform is to identify theirstrength and weaknesses. This aware the organization about their potential opportunitiesand then build ideas to grip all these available opportunities. the internal analysis givesthe answers to the following:-oDo Sigma have areas of expertiseo Does sigma have enough knowledge about a specific area?All these things help the Sigma in identifying their potential customers. Bu using it Sigma cancreate the attractive offering for their customers. All initiatives require more expert services or2
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proper utilization of available resources. If Sigma performs all his initiatives by the proper care,it can achieve success in the marketplace and then it determines that firm has the capability toperform better.Answer 3:-Employees today is considered not only the factors of production, but they are considered as thehuman resources. It is vital for the success if the organization that it should retain theiremployees in the organization for a long time. All this was saving the cost of recruitment. Sigmafaces problem in retaining their staff for a long time. Now it should adopt following strategies torecruit new potential employees:- 1.Use social media: - Social media is getting very popular nowadays. It can be the bestalternative for the organization to give their advertisement of the vacancy on socialmedia. This helps the organization in generating a pool of talented employees. Socialmedia sites like: Twitter, LinkedIn, or Facebook can be used by an organization. 2.Market its compensation Package: - Money can be the best way to attracting talentedemployees. Sigma should offer the handsome salary to new employees; this forces thecandidates to be the member of the Sigma.( King,2014)3.Internal recruitment: - the best way of hiring the talented employees for the Sigma is tohire from within the organization. This helps in saving the extra cost in the recruitmentprocess. Internal candidates aware all, about the functions of the organizations, thisbrings many additional benefits to the organization.3
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