Decision making and stakeholders in market

Decision making lies at the heart of business activity. Typical decisions include:

• what to produce, and how

• how much to produce, and what selling techniques to employ.

• where to locate

• who to employ and how many

• whether to develop new lines or stick to existing ones.

Businesses are decision making units made up of a variety of decision makers e.g. directors, managers, and employees.Most classifications of types of decisions are based on the predictability of decisions.Programmed decisions are straightforward, repetitive and routine. They can be dealt with by creating routines and procedures such as stock ordering systems.

Market Analysis: Your Plan for Profits

Before investing any money in your business, you must gather information about your potential customers and the demand for your product of service.

This information, or market analysis, is a necessary part of planning a profitable business.

Invest time in this crucial step now and reap the rewards of a successful business.

BENEFITS OF MARKET ANALYSIS
       
1) Faster Cash Flow
Knowing who your customer is, what they need, and where to find them is vitally important. Targeting the right people is crucial for generating cash flow in the shortest time possible.

2) Greater Market Share
An examination of current market conditions tells you who your competition is, the size and location of the market, current competitor pricing and promotional strategies, and types of market niches which are underdeveloped.

Positioning your product for greatest exposure, while creating an image of quality and value for your product, allows you to become a serious player.

3) Reduced Expenses
A leading cause of business failure is lack of capital - the business runs out of start-up funds before becoming profitable. It's important to make every penny count. You reduce expenditures by trying to predict outcomes before taking action. There is always a certain amount of risk with any business venture, however, analyzing your market reduces that risk.

Customer satisfaction in Services

The purpose of this thesis “A Context Analysis of Customer satisfaction in Services“, is to examine selected elements, which have influence on customer satisfaction in services. The investigation is conducted bot from a theoretical and empirical point of view. The theoretical analysis considers four dimensions. The first dimension is concerned with the service company’s internal services, which have an indirect influence on the overall customer satisfaction. It focuses on internal services which involves an analysis of operations, processes, and activities which influence the behavior of employees within service companies, e.g. internal marketing decision making processes, management styles, communication patterns, empowerment, and employee motivation.