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K.J.SOMAIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH
Flow of Presentation
• Location: Thane(W), nearby to station. • • Area: 4,200 sq.ft. Total employees: 3 sales staff, 1 floor manager, 1 accounts manager, 1 showroom manager, 2 housekeeping staff. • Sales: 2,00,000 approx. (during the period of 2 days of store visit). • Footfalls: 30 • Revenue of the store is approx. 25,00,000/month.
employees across categories. • Multitasking Staff. • Location. • Good Brand Name. • Very competitive pricing.
• Lack of motivation among the Employees. • Average Window and in-store display. • A few empty shelves and places.
• Less usage of the area (or inadequate usage of area)* • Sales skill are less sharpened and low level of customer interaction. • Ineffective Customer Loyalty Measures.
* Refer the table in the next
• Effective Use of Staff. • Knowing your customer. • Increase in footfalls. • Opportunity to improve sales through employee motivation.
• Competition • Customer Attrition • Employee Attrition
• The management can come up with an inter-store contest such as “Best Store Display”. • Increase employee motivation by rewarding them through such contests thereby motivating them to work on the display. • Customer Feedback System. (e.g. a suggestion box or book) • Continuous Monitoring by management. • Should allot customer care executive work to an existing staff on rotational basis.
• Cross Promotions. • In store Promotions through enthusiastic staff and cheerful display. • Part time employee required especially during peak hours. • Price tags also in Marathi. • Display advantages of D2H and compare it with others.
• Next Thane(w) store is at a good location and a few changes in the daily store operations and other suggested changes in the system would ensure increase in efficiency and thereby increase in profitability of the store. • The store surely has capability to perform better with the given resources if supported by the proper help and direction by the management.
Vijay Sales Revenue* Area (sq.ft.) Refrigerator 1.5 – 2 Cr 79 Kohinoor 1 Cr 67 56 63 13 48 Next 25 Lakhs 4,200 (Approx.) 42 35 33 22 17
10,000 (Approx) 4,500 (Approx.)
Washing Machine 45 LCD CRT AC 87 18 54
•Example of ineffective use of the floor space. •Cannot be considered that Next has high Stock turn ratio after comparing revenues of other stores. Back
* Approx. as told by Showroom manager of next