Why would a drop in average shopping frequency have such a dramatic impact on store performance? Should the business attempt to take a counter competitive action? If so, what do you recommend?
There will be fall in revenue realization and profitability due to fall in average shopping frequency. Yes the business should take following action to improve its frequency:
1. Measuring Quality and Customer Satisfaction
Customer service which is "the behaviors and attitudes of a company and its personnel toward customers, during all interaction and communication with them" (Swartzlander, 2004, p. 1) is the heart of an organization. As today's consumers are becoming more price conscious, technologically advanced, demanding and convenience driven. Thus, the key for success in today's tumultuous marketplace is exceptional customer service as this allow an organization to prosper in this highly competitive marketplace. (Kotler, 2003) Thus the organization's objectives are to ensure it process quality products, that the customer is satisfied, and that it keeps the price at a level that is comfortable for the consumer.
Most emerging approaches to the measurement of overall productivity and management results agree on the importance of customer capital, as expressed in sales, ...
In order to remain a competitive force in the business world, the company must continue to develop the quality management programs, and on the areas discussed in the posting and exceed the goals that the company has set. References included.