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This is a retail supermarket where we sell all the products which are required by customers in daily life. Since 2007 it was formed with just 2 employees and with limited products, now has improved to have nearly 10 employees with different varieties of products and an average of £0.5M per annum. It is a self-service store offering a wide variety of food and household products organized into departments. The supermarket occupies a large amount of floor space and is located near the residential area in order to be convenient to consumers. The company accepts all types of credit, debit and maestro cards. We also deal with top up for mobile phones and we provide different offers for new releasing product and also reduction for bulk products.
We deal with different varieties of products in our supermarket like food items, non-food items, alcohols, cigars, soap, shampoos, cosmetics, canned goods, greeting cards, soft drinks, vegetables, newspapers, magazines, milk, meat, fish, and all sea foods under single roof.
There are large varieties of products in this supermarket and we mainly focus on food items, so it is been consumed by all types on customers. We also focus on cosmetics, bouquet, greeting cards and chocolates so it gathers the attention of youngsters and children. There is a large open space for car parking so that it will be helpful for customers for parking their car safely till their purchase is done.
6 key factors:
- Customer satisfaction-
- Quality assurance
- Variety of products
This is a main factor to run a successful business. The products in the supermarket are sorted in order with their offers mentioned on it under each department which helps the customers to choose their required products. We have our staff members under each department to assist the customers. The competitor does the same kind of service but with display boards of every product hanging on roof with the direction to till mentioned and also with self payable till machines which improves the service better satisfying the customers and so the value curve of customer satisfaction is higher.
This is another important factor which plays a vital role in business and to run the business in a successful way as well. Compared with the competitor they sell the products of good quality but not the best and so the prices are lesser compared to Grace Supermarket. The price of products in this supermarket is not low since all the products sold are of best quality, so are sold at reasonable rates, so the value curve of price is high compared to the competitor.
All the products sold in this supermarket are of best quality so we assure the customers that all the products sold are of the best quality. The Competitor also sells the product of good quality but not the best. We give assurance to the customers with no compensation in the quality of the product. So the value curve of Quality Assurance is high when compared to the competitor.
Variety of Products:
To gather the attention of customers in all age group we need different varieties of products sold under single roof. In this supermarket we have a lesser varieties of products sold. When compared to our competitor they have large variety of products under one roof so that customers have a wide choice to choose their respective products. So the value curve for Variety of Products are very less when compared to the competitor.
The supermarket occupies a large amount of floor space where it is divided into different segments and the products are sorted in order under the respective segments. The competitor also does the same service but has LCD and cameras to monitor the products from shoplifters. So the value curve is little low when compared with the competitor.
The supermarket has less number of manpower so has less productivity hours. Whereas the competitor has large number of manpower working in different shifts which increases the productivity. So the value curve is extremely high.
I conclude that these key factors are very essential and have to be monitored constantly for the consistent growth of the supermarket in the near future.