Exceeding Customer Expectations


We often focus on meeting customer expectations by closing the gap between customer perceptions and expectations. There’s a difficulty in meeting expectations because of all the factors that must be coordinated to deliver on the firm’s service promises. However, an increasingly popular service maxim urges companies to “exceed customer expectations.”—to delight, excite, surprise, and otherwise amaze. According to this formulated belief, merely meeting customer expectations is not enough; a company must exceed them to retain customers. This is an appealing slogan as well as one that sets a high performance standard for employees, but it holds the potential to overpromise to both customers and employees. In attempting to exceed customer expectations, a company must understand a) what type of expectations can and should be exceeded, b) what customer group or segment is to be targeted, and c) the impact exceeding  expectations has on future expectations of customers.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Retail Trends & Strategies


  • Better market positioning: This involves more careful identification of market segments and providing service superior to that of competition.
  • Market intensification: This involves clustering more stores in the same metropolitan area and contiguous markets.
  • Secondary markets: Expansion will be increasingly focused on secondary markets  of under 100,000 population because there may be less competition from larger retailers, and costs, such as wages, may be lower.
  • Differences in store size: Retailers will have a more flexible portfolio of different sized stores depending on the size of the community and existing retail competition. More use of second-hand space will occur because this can result in savings of 30 percent or more in rent.
  • Productivity increases: The application of central checkout, self-selection, and low gross margins to areas of trade where these techniques have not been used before will occur. Look now at toy supermarkets, home-decorating centers, and self-service shoe stores.
  • Fewer product options: Product lines will increasingly be consolidated, and new product development will be cut back.
  • Service growth: Services retailing will continue to grow as a percentage of total retail sales. Services already represent about 50 percent of the gross national product.
  • More mergers: Increasingly, smaller and weaker firms will be absorbed as more retail outlets struggle to survive.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Develop Retail Profiles


This will require an understanding of:

  • Types of outlets that sell the product
  • The type of consumers they cater to and the expectations of the consumer. This includes customer needs that the retail outlet is fulfilling, the factors influencing the consumers to choose a particular outlet, and the extent to which they patronize the outlets.
  • The behavior of the retailer with respect to displays, inventory, etc.

These profiles will help the marketer identify the type of outlets that would be catering to the target segment identified in the marketing strategy or the outlets that would suit their positioning strategy.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Effective Segmentation


Segmentation does not promote marketing success in all cases. Effectiveness depends on the following basic requirements:

  • The market segment must present measurable purchasing power and size.
  • Marketers must find a way to effectively promote to and serve the market segment.
  • Marketers must identify segments that are sufficiently large enough to give them good profit potential.
  • The firm must target segments that match its marketing capabilities. Targeting a large number of niche markets can produce an expensive, complex and inefficient strategy.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Role of Government


In general, government has three basic economic functions. First, government provides a legal foundation and an appropriate social environment for the conduct of economic activity. Second, government both encourages competition in the marketplace and controls it. This is accomplished through legislation and government agency rules and regulations. Finally, government redistributes income from some segments o the economy to others. Government acquires revenues through taxation—taxes on income, property, sales, and payroll. These revenues are channeled back into the economy through spending and transfer payments to veterans, the aged, welfare recipients, and others in society. In short, government is a consumer of goods and services and not producer of them.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Writing Tips


  • When writing consider the recipients. What do they know already? What can you tell them?
  • Outline your memos and letters before beginning to write.
  • When writing reports, summarize key points or conclusions on the first page and document them with more information on subsequent pages.
  • Write like you speak to make your writing as readable as possible.
  • Learn the writing style of your organization and follow it. Don’t use flowery language (many adjectives and verbs) when inappropriate.
  • Have your secretary or assistant edit and proofread your correspondence for sentence structure and grammatical errors.
  • Keep dictionary thesaurus on hand to check spelling and word usage.
  • Use variety of sentence structures—simple, complex, and compound—to add interest to your writing.
  • When writing for a non-ethical audience, have a non-technical person identify jargon. Then either eliminate it or include a glossary defining the terms.
  • Use charts and tables wherever possible to present numerical information.
  • Use “action verbs” to add punch to your message.
  • Eliminate weak words like “very,” “interesting,” “often,” and other bland adjectives or adverbs.
  • Keep paragraphs short. Make sure the content of a paragraph revolves around only one thought—the topic sentence.
  • If you do a large amount of routine correspondence, standardize it as much as possible.
  • If procrastination is a problem, start writing a rough draft early so you have time to reverse it at least once.
  • When allocating blocks of time for writing, set aside periods of one to one-and-a-half hours, rather than trying to do it in segments of 5 to 15 minutes.
  • Develop a flash card system to work in your own common misspellings.
  • Dictate correspondence, memos, and so forth, to save time.
  • Seek immediate and specific feedback on reports you write.
  • Take a second or third look at your memos before sending them.
  • Use a grammar checking software program on your computer to identify errors you frequently make, and use that feedback to focus your efforts to improve your writing.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Identifying Target Market


Once the market-product segments (potential customers) have been identified, the firm must plan a strategy to attract them to its product. Three different strategies can be followed: unidentified marketing, differentiated marketing, or concentrated marketing.

In undifferentiated marketing, the firm manufacturers a single product and tries to attract all buyers with one marketing program.

In differentiated marketing, separate products and marketing programs are designed for each market segment. Differentiated marketing is effective, but it is always a more expensive way to go.

A compromise strategy is concentrated marketing. This means that the firm concentrates on one or a few profitable market segments.

Marketing strategy decisions are made by people in marketing research and product management positions.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Economic Truths


Although there are few truisms that apply universally in the business world, there are four related economic truths that are valid in every business situation:

  1. Over the long term, it is absolutely essential to be a lower cost supplier or profit margins will erode.
  2. To stay competitive, inflation-adjusted costs of  producing and supplying any product or service must continuously trend downward.
  3. The true cost and profit picture for each discrete product/market segment is often obscured by traditional accounting practice.
  4. Real business winners concentrate as much or more on cash flow and balance sheet strength as they do on reported profits.

These points have always been valid, but they are far more serious today because there is much less margin for error in our more turbulent environment.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Self-Directed Work Teams


A self-directed work team is a group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer. Sometimes called self-managed teams or autonomous work groups, self-directed work teams reduce the need for extra layers of management and thus can help control costs. Such teams are designed to give employees a feeling of ownership of a whole job. With shared team responsibility for work outcomes, team members often have broader job assignments and cross-team to master other jobs, thus permitting greater team flexibility.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Why Firms are Nationalized?


One might assume that government ownership of the factors of production is found only in communist or socialist countries, but that assumption is incorrect. Large segments of business are owned by the governments of many countries that do not consider themselves either communist or socialist. From country to country, there are wide differences in the industries that are government owned and in the extent of government ownership.

There are a number of reasons, sometimes overlapping, why governments put their hands on firms. Some of them are 1) to extract more money from the firms—the government suspects that the firms are concealing profits; 2) an extension of the first reason—the government  believes it could run the firms more efficiently and make more money; 3) ideological—when left-wing governments are elected, they sometimes nationalize industries, as has occurred in Britain, France, and Canada; 4) to catch votes as politicians save jobs by putting dying industries on life-support systems, which can be disconnected after the election; 5) because the government has pumped money into a firm or an industry, and control usually follows money; and 6) happenstance, as with the nationalization after World war 11 of German-owned firms in Europe.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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