Introduction
This paper is a manner of having a balanced score card so that all angles of the company will be maintained and one does not become more important than the other does. When the scorecard is balanced then it is almost impossible for one part of the company to lack the attention that it needs. When the scorecard is properly balanced it is possible that a proper strategic plan is in place.
Customer Value
Customer metrics are going to be used as a percentage of customers that are happy. Our strategic objective is customer satisfaction. We strive to maintain a customer satisfaction percentage of 98% the site eBay allows customers to give feedback on products and maintains a percentage for you. In the form of positive feedback versus negative feedback. While customer retention is nice it may not be possible since once these items are bought it is highly unlikely that the same product will be bought again. That does not mean that customers will not return to buy other pieces but usually purchase of furniture are farther apart than other items. We are focusing on initial customer satisfaction so with the thought that a happy customer is a returning customer.
Financial Perspective
Financial perspective is based on the idea that the ability to buy this level of quality at this price. The normal level at this price is made of particleboard and plastic. This furniture is made of solid oak and finished on all sides which is even uncommon among more expensive products. We are starting with a trying to maintain a small piece of the market share. This is a side business that we hope grows into a self-sustaining business in the future. The cost are minimal and already budgeted into personal finances so this portion is negligible. The furniture is not built until it is ordered so that warehousing does not become an issue. The Dell format is being used in this process. The manufacturer maintains the storage of the Oak raw material. The product is then shipped out immediately after completion. The first year is a goal of six units, followed by a second year goal of twelve units. With a twenty percent rise each year after. A unit is defined as one-thousand dollars of profit. A bed, which is the most expensive item on our list, has an average of twelve-hundred dollars of profit.
The Term Paper on Project On " Arvind Mill" ( The Product Mix And Its Strategy)
... Customer based development: Product is developed on the basis of customer requirements. Sometimes the customer ... and the humidity level is maintained at 65%+/-2% Factors like ... The sales in the year 1934, three years after establishment were Rs ... itself amongst the foremost textile units in the country. 1986 &# ... percentage of inbuilt Lycra to peg elasticity at the desired level as demanded by the customers. ...
This is why I have chosen a thousand dollars as a unit. The other reason is that a piece cannot be considered as a unit since a set of chairs could be six pieces or four pieces. Include a table that has six chairs and do we consider this a unit or seven pieces. If it seven pieces then the goal would be meet to easily and if we do not sell any dining sets and twenty chairs we may reach our goal, but it could be difficult to double the number of units the next year. With a monetary metric, it is easy to track where we are and how we are doing. The goal is to set a price that is lower than any items currently listed our base prices meet this requirement currently, but the future is always up for debate. Market share is important, but we are not trying to claim a large portion, just enough to be self-sustaining.
Internal Operations
Internal Operations are a negligible item, but the one thing that will not be compromised is photos of items before they ship to protect me the seller and the manufacture from false claims of damage. This will also allow us to hold the shippers responsible for damage that happens during transit. This will allow us to be able to maintain customer satisfaction.
The Essay on Price Ceilings & Floors
Price ceilings are usually government policies and limits that intend to save consumers from being charged too high a price. This generally means to limit and control how high a price for a product can go. If price ceilings are not present, the suppliers will set prices extremely high for necessities which then become too expensive to be affordable. Suppliers know that no matter what, the items ...
Future Growth
Learning and growth will be focused on what styles are currently hot on the auction sites. For example, 18th century style and antique furniture are selling fast on the auction sites right now. Wine racks are also hot items right now. Since we only work in oak it can be difficult to convince the manufacture to change to red oak and maintain price. While staining is always a possibility, it tends not to be what consumers want. This area will require more research for proper price points. Future endeavors will include the wine rack and other styles of furniture to be made by the manufacture.
