something you do when you don't know what to do Flashcards
analyse the importance of having motivated employees
the motivation of employees directly impacts the success of business. motivated stuff will work more efficiently leading to higher productivity and better customer service which increases customer satisfaction encouraging repeat purchase. less motivated employees are likely to leave increasing costs for training of new employees
justify introducing a vegan range of products or a special offer of 7.5% percent discount
introducing a new range of vegan products could attract more customers and differentiate the cafe from competitor. it could also increase customer loyalty and make business more inclusive. however it would require upfront investment and possibly new equipment increasing costs
analyse two factors a business might consider when measuring success
customer feedback and reviews indicate customer satisfaction. satisfied customers are more likely to return and recommend the cafe contributing to long term growth and cafe’s reputation.
tracking revenue and profit margins can measure success. consistent profitability indicates effective cost management and profit satisficing
justify whether updating the noticeboard or weekly meetings
weekly staff meetings ensure a two way communication between owner and employees allowing everyone to voice concerns and suggestions which improves teamwork and motivation. however meetings might take time to set up and can be easily disrupted if not managed correctly
analyse how a cafe could use market segmentation to target its customers
the cafe could focus on customer behaviour such as purchase frequency or spending pattern and target loyal customers with rewards.
younger customers prefer trendy, Instagram-worthy products while older people prioritise quick serve.
targeting customers who live nearby the cafe by advertising
evaluate the importance of using methods of market research for cafe
market research is important to understand customer preferences, identify trends and respond effectively to changing demands.
primary research and secondary research.
meeting customer needs ensures satisfaction which leads to repeat visits and purchases
analyse the usefulness of the gross profit margin to a business
gross profit margin helps evaluate how efficiently the company is producing its goods to its sales. high gross profit indicates low production costs which can lead to high profitability. by regularly analyzing gross profit margin business can identify areas of development and make smart changes
justify trial a new brand of dog food in the shop or sponsor a local dog show
trial of a new dog brand because it directly helps increase sales by offering customers more choice and therefore satisfying customer needs and assuring a repeated purchase
analyse the importance of reliable market research to obtain its information
reliable market research provides accurate data that helps a business to make important decisions. market research allows a business to understand customer preference and identify trends. without reliable data, a business risks making wrong decision which could lead to waste of resources. good market research reduces uncertainty, identifies opportunities for growth, increasing the chances of success