Understanding Customer Perception and Market Opportunities

The provided content focuses on the perception of customers towards products and services they want to be provided with, as well as opportunities that prevail in the market through which customers can be attracted. It highlights the importance of managing customer expectations and creating a positive brand image by effective communication.

Managing Communication

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Different decision to be made to start up a business.............................................................1
1.2 Knowledge required to make the decision to start up a business..........................................2
1.3 External and internal sources of understanding and information..........................................2
1.4 Recommendations to improve analysing and selection of information................................3
2.1 Impact of stakeholders in influencing decision making........................................................3
2.2 Ways to develop relationship with stakeholders...................................................................4
2.3 Plan to involve decision making for location and pricing strategy.......................................4
2.4 Strategy for future improvement process..............................................................................5
TASK 2............................................................................................................................................6
3.1 Existing process of communication......................................................................................6
3.2 Difference communication process.......................................................................................6
3.3 Integration of communication system for implementation of improvements.......................7
3.4 Personal development plan for improving communication skills.........................................7
4.1 Existing approaches to the collection, formatting, storage and dissemination of
information and knowledge.........................................................................................................8
4.2 Appropriate changes to improve collection, formatting, storage and dissemination of
information and knowledge.........................................................................................................8
4.3 Strategy to improve access to systems of information and knowledge to strengthen the
business.......................................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Within the organization there are many business activities involved and for conducting
each of the activities effectively it requires proper communication so that there is coordination.
In this context, managing communication can be determined as a process of systematic
monitoring and planning among different channels in order to develop strong relationship among
employee and employer (Nachtergaele and Dauwe, 2014). There are different type of strategies
that are implemented in order to make effective interaction among employees. Present report is
regarding developing new venture and it will be focused on providing quality food. This report
covers internal and external sources of information and that are used within the organization.
Further, it covers different methods in order to develop business relationship with stakeholders.
Lastly, it also includes integration of communication system for implementation of
improvements.
TASK 1
1.1 Different decision to be made to start up a business
So as to perform business activities in an effective manner there are different set of areas
that has to be considered. In order to develop or to think over to start new business, there are
areas are important. Below given are the elements that contribute in decision making:
Targeting and segmenting: It is a type of process in which management identifies
people to whom products and services needs to be focused. As per the type of targeting done,
decision are made in order to attract them.
Competitors: There are many firms that provide their customers with similar product
and services. These organizations make use of diverse set of strategies to attract customers
(Axelsen, Calloe and Nielsen, 2013). With this respect, to start up business this element is
important to consider in order to make proper decision.
Financial position: There are different business operation that has to be done and in
order to make them operate it is essential to have financial support. This helps in making
decision over totally how much needs to be spend over each operations.
1

1.2 Knowledge required to make the decision to start up a business
To make decision, it is essential to list out have proper knowledge for each of the areas in
which decision has to be made. In this context, following are the information and knowledge that
one should have in order to make proper decision for the business:
Budget: As stated above, there are different activities and operations that has to be
considered (Ulmer, Sellnow and Seeger, 2013). One should have proper knowledge related with
the approximate budget that will be required for business operations.
Research: This is a type of way that provide effective information about the market and
the customers. This develops knowledge about the needs and requirement of service users.
Further, it provides different options that the business has through which huge profit can be
gained.
Survey: Survey is conducted by developing questionnaire and they are made filled by
target audience or employees. It enables to know perception of people towards the products and
services. This helps to make proper decision about business or the changes that should be made
in the operations.
Target market: To start new business, target market should be studied as frequent
changes that place in their taste and preference. Further, it is important to understand them and
make them implemented so that goals and objectives can be achieved.
1.3 External and internal sources of understanding and information
Internal sources are the customers and employees. Workers are very helpful in
understanding the issues that are faced by customers (Song, Northouse and Mood, 2012). They
are the one who have direct interaction with services and they present the services and products
that are delivered by the firm. Further, customers are the one who make use of the service so they
know the problems or issues that are faced by them. Both these internal sources are helpful to
make the organization develop their strategies towards achieving the goals and objectives.
On the other hand, external sources includes government, suppliers, etc. They help to
know the over all strength of the market. There are situations in which changes needs to be made
in the business operation. For example, if government increase fiscal policies then firm has to
make changes in the price. In this context, it can be stated that external factors provide adequate
2

information for making decision (Stoldt, Dittmore and Branvold, 2012). Business gets highly
benefited as it makes the organization block the barriers that arise in the market.
1.4 Recommendations to improve analysing and selection of information
New business can make use of different type of methods with the help of which analysis
and selection of information is possible. In this context, few of the methods are as follows:
Reviewing policies: All the policies that management wants to implemented should be
discussed and conveyed to employees (Stevanović, 2015). There are situation in which workers
may not prefer to apply all and those should be removed. This enable to make the firm gain
information from employees as they develop a feeling of trust and confidence.
Employees involvement: Worker have direct interaction with service users and they
know better able the issues that they face. In this context, all the needs and requirements of
workers should be fulfilled so that they will be able provide healthy environment. Employees
will take interest in order the operation of business and they will be helpful in providing valuable
information.
Forecasting method: It helps to determined the profit and sales. When management gets
to know the one month sales and performance level of employees, then it becomes easy to
calculate the future performance and sales of the organization and this is helpful to get adequate
information (Swallow, Knafl and Carolan, 2014).
2.1 Impact of stakeholders in influencing decision making
Stakeholders are very important for the business and they make business operation run in
an effective manner. They highly influence in decision making and changes are made as per their
preference. Below given are the stakeholders that influence in decision making:
Customers: They are the one who make use of the services and products that are provided
by the firm (Dickins and Germaine, 2014). When any type of strategies are implemented and if
they are not preferred by customers, then they it does affects the decision made by management.
Government: There are situations in which decision are made related to different aspect
for example price. However, decision made gets affected due to changes in fiscal or monitory
policy that are frequently changed by government.
3

Suppliers: They make sure that materials that are required by the organization are
distributed on time. However, decision make by the firm in relation with production gets affected
with materials are not delivered by the supplier (Barak, 2013).
Employees: Workers are the face of organization and if they are not skilful or
knowledgeable, then the decision made gets affected. Firm fail to achieve their desired goals and
objectives.
2.2 Ways to develop relationship with stakeholders
Management can made use of diverse set of ways through which strong relationship can
be made. This is generally done in order to achieve the goals and objectives that are set by the
firm. Following the ways though which relationship can be developed with stakeholders:
Socially: There are different social media sited that enables organization to present the
information about the services and products that firm wants to deliver (Harvey and Allard, 2015).
It enables to develop strong relationship with stakeholder as it helps to know their perception.
Meetings: Management can conduct informal meetings that will help in knowing
stakeholders more closely. This enables to develop trust and confidence among mind of
stakeholder holder as they develop a feeling of importance. When informal meeting are
conducted, then it makes people free and they get to know each other.
Mails and calls: These methods enables to make stakeholders updated and also provides
the opportunity to convey relevant information about the products and services. Further, it also
enables to develop interaction and to make them updated related with the changes that has been
planned in the firm.
2.3 Plan to involve decision making for location and pricing strategy
To make stakeholders involve in the making strategies, it is essential that they provide
them adequate information so that they get to develop a feeling of importance (Zerfass, Verčič
and Wiesenberg, 2016). Following are the ways with the help of which stakeholder can be
involved in making strategies for pricing and location:
For Pricing strategy:
 All the stakeholders should be provided with information related with the main aim for
meeting.
 Management should also convey the objectives that has to be achieved.
4

 Strategies should be conveyed related with the price and opinion should be taken on the
strategy.
 All suggestions that are given by stakeholders should be written down or made proper
records.
 Among the given strategy the best one should be selected.
Strategy for location:
 All stakeholders should be called for the meeting and they should be informed about the
main reason for which meeting is conducted (Yoder-Wise, 2014).
 All the locations that has been decided should be conveyed to them.
 Opinion should be taken from stakeholders
 Further, all the suggestion provided should be noted or record should be kept.
 As per the suggestion given the best location that will be beneficial for the organization
should be selected.
2.4 Strategy for future improvement process
To start up a new business, it is important to have future strategies that will help in
implementing and achieving the organizational goals. In this context, few of the strategies are as
follows:
 Employees should be hired who have proper skills and knowledge so that they will be
able to understand their customers and provide their services (Domenech, Baños and
Botella, 2013). Further, to improve their performance level they can be provided with
training and it enables to improve and develop skills that are required to perform the
given job.
 At initial stage, price of the product should be kept low. This helps in develop strong
customers base. When people get to know about the product and organization, then price
can be raised.
 Research and survey should be conducted frequently as it will help in knowing the
changes in taste and preference of customers. Accordingly, changes can be made and
customers can be satisfied.
5

 Feedback should be collected from customers and suggestion that are provided by
employees should be considered as it will enable to make changes in the strategies as per
their preferences (Oprescu, Campo and Morcuende, 2013).
TASK 2
3.1 Existing process of communication
Interaction is important in order to develop a healthy environment in which workers can
performance. On the other hand, interaction is also essential so that customers can be attracted.
As per the current process below given are the systematic process of communication:
 Sender: Idea or the information which is generated by a person is the sender.
Communication process starts when the idea is generated.
 Message: It is the details or the idea that is generated by the sender.
 Encoding: The idea or the information is then converted in to a meaningful language so
that others can understand it (Nachtergaele and Dauwe, 2014).
 Media: This can be determined as the source that is used by the to make the information
reach to others.
 Decoding: Process that is used by to understand the details that are provided by the
sender.
 Receiver: They are the one to whom information was developed. In other words, they
can also be stated as audience.
 Feedback: It is the response that is made by receiver on the message given.
3.2 Difference communication process
Within the organization, management can make use of different type of communication
process that can be implemented. In this context, following are among them:
Free flow: It is a type of communication process in which employees within the firm has
the right to have interaction with anyone (Axelsen, Calloe and Nielsen, 2013). They can interact
with top management or any other worker directly. It enables to make changes immediately and
it also helps to reduce confusion.
Wheel pattern: In this type of process, the information will be conveyed in a systematic
flow. Employees have to report their manager related with the issue or problem and workers can
6

not have direct interaction with other employees. Managers have complete control over
employees and direction given by managers should be followed.
Circular pattern: Information is passed on in one single direction. When information is
passed and when it reaches to last employees, then there are chances that it may get changed. It
increases confusion and changes to be implemented takes time.
For new business, management should make use of free flow so that issues can be
reduced and strategies can be implemented efficiently.
3.3 Integration of communication system for implementation of improvements
There are different ways that can be implemented by the organization with the help of
which integration can be reduced. In this context, one of the strategy that can be implemented is
by identifying the employees who will be able to perform the roles effectively and efficiently
(Ulmer, Sellnow and Seeger, 2013). Further, in case of any new employees is required, then
recruitment and selection process should be conducted. It will help for the organization to
achieve their goals and objectives. Moreover, management can also evaluate their performance
level and this will help them to know whether workers are working effectively or not. Workers
who are not performing properly should be replaced with new once and they should be provided
with proper information regarding the roles and responsibilities. In addition to this, they should
be provided with training and this will help the organization to achieve the goals and objectives.
Further, the integration in communication can also be solved.
3.4 Personal development plan for improving communication skills
Communication is very important in order to develop coordination and to develop strong
relationship. With this respect, following are the ways through which communication can be
improved:
Non-verbal signs: In order to develop interesting and effective interaction non-verbal
signals are very helpful. In order to improve this I will make use of mirror and look my
expressions and get to learn.
Online tests: There are many tests that are available on the internet and it will be helpful
in know where I stand. More specifically I will get to know the areas in communication where I
have to make improvement.
7

Avoiding conversational fillers: I got to observe that I make use of lot conversational
fillers like ah's and Um's. I will practise and make sure that I will not make use of these while
having conversation.
Effective listening: To have effective interaction, it is important to listen and reply
accordingly. I will make sure that I listen and reply as per the situation and this will help me in
developing healthy relationship with others.
4.1 Existing approaches to the collection, formatting, storage and dissemination of information
and knowledge
As per the case, to implement the strategy within the organization, management has made
use of below given ways:
Collection: Within the firm, management has used traditional way for collecting
information. In this context, all the stakeholder were informed and information was provided to
them so that they provide suggestion.
Formatting: Information were converted into balance sheet, annual report, etc. and this
was helpful for the organization to understand it and to make appropriate solution (Song,
Northouse and Mood, 2012).
Storage: Details collected from cafe are stored in computer system. It will provide the
opportunity to make evaluation and to develop strategies for solution.
Disseminating: Meetings will be conducted and this will be helpful in getting
suggestions and to know their perception relate with the decision that taking over cafe is
beneficial or not.
4.2 Appropriate changes to improve collection, formatting, storage and dissemination of
information and knowledge
In order to make changes in the way by which information was collected, formatted and
stored and disseminated. Following are the ways:
Collection: The people who will conduct the research should be given proper training
and development. This will enable them to know different ways though which data can be
collected.
Formatting: Information collected should be presented in an proper manner and in order
to do that professional can be called and they will be helpful enough to provide them training.
8

Storage: Annual report of cafe will be used and could system will be used as it will
enable to store unlimited information and that also with proper security (Stoldt, Dittmore and
Branvold, 2012).
Disseminating: Stakeholders will be able to access the information with the help of
cloud system. They will be able to get the information and details of the firm.
4.3 Strategy to improve access to systems of information and knowledge to strengthen the
business
There are different type of strategies that can be implemented through which access to
information can be improved. In this context. Following are the strategies:
 Information that is collected from external and internal sources should be reliable and
sustainable.
 Organization should make use of different systems like SAP, MIS, etc. This is helpful to
track the data and to improve the performance (Stevanović, 2015).
 Firm can make use of SWOT analysis as it enables the management to know threats and
opportunities in the market.
 There should be informal meeting. This will help in developing strong relationship and
trust. Further, they will develop a feeling of importance for them by the company.
CONCLUSION
Interaction has many benefits but it is also important that organization have employees
who will be able to support the firm to achieve their goals and objectives. Employees should be
provided with proper motivation and encouragement so that they will be able to put on their full
efforts on the roles that are given to them. Further, research should be conducted before business
is established. It will enable to know the perception of customers towards the products and
services that they want to provided. In addition to this, it also provides them with the
opportunities that prevail in the market through which customers can be attracted.
9

REFERENCES
Books and Journals
Axelsen, L. N., Calloe, K. and Nielsen, M. S., 2013. Managing the complexity of
communication: regulation of gap junctions by post-translational modification. Frontiers in
pharmacology. 4. pp.130.
Barak, M. E. M., 2013. Managing diversity: Toward a globally inclusive workplace. Sage
Publications.
Dickins, P. R. and Germaine, K., 2014. Managing evaluation and innovation in language
teaching: Building bridges. Routledge.
Domenech, J., Baños, R. and Botella, C., 2013. Design considerations of a randomized clinical
trial on a cognitive behavioural intervention using communication and information
technologies for managing chronic low back pain. BMC musculoskeletal disorders. 14(1).
pp.1.
Harvey, C. P. and Allard, M., 2015. Understanding and managing diversity. Pearson.
Nachtergaele, L. and Dauwe, W., 2014. Towards solutions III: Managing people:
Communication, participation, planning.
Oprescu, F., Campo, S. and Morcuende, J. A., 2013. Parents Managing Clubfoot: A Content
Analysis of Internet Based Social Support Behaviors with a Focus on Uncertainty
Management and Health Communication. The International Journal of Interdisciplinary
Social and Community Studies. 7(3). pp.83-101.
Song, L., Northouse, L. L. and Mood, D. W., 2012. Study of dyadic communication in couples
managing prostate cancer: a longitudinal perspective. Psycho‐Oncology. 21(1). pp.72-81.
Stevanović, S., 2015. The importance of managing communication in media relations for
creating the business image of public utility companies. Godišnjak Fakulteta za kulturu i
medije: komunikacije, mediji, kultura. (7). pp.189-212.
Stoldt, G. C., Dittmore, S. and Branvold, S., 2012. Sport Public Relations-: Managing
Stakeholder Communication. Human kinetics.
Swallow, V. M., Knafl, K. and Carolan, I., 2014. An interactive health communication
application for supporting parents managing childhood long-term conditions: outcomes of
a randomized controlled feasibility trial. JMIR research protocols. 3(4). pp.e69.
10

Ulmer, R. R., Sellnow, T. L. and Seeger, M. W., 2013. Effective crisis communication: Moving
from crisis to opportunity. Sage Publications.
Yoder-Wise, P. S., 2014. Leading and managing in nursing. Elsevier Health Sciences.
Zerfass, A., Verčič, D. and Wiesenberg, M., 2016. Managing CEO communication and
positioning: A cross-national study among corporate communication leaders. Journal of
Communication Management. 20(1). pp.37-55.
Online
Decision for new business. 2014. [Online]. Available through:<https://hbr.org/2013/11/deciding-
how-to-decide>. [Accessed on: 3rd November 2016].
11