Solved by verified expert:In your responses to at least two of your peers, discuss other integrated factors that may affect implementation of the review system.
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Turn the Page Inc. Success of Service and Branding
Turn the Page Inc. is a startup company that will offer a free online service to book
lovers. By inputting preferences on genres, writers, and books, Turn the Page Inc.
will give readers a comprehensive list of future reading suggestions and offer them
numerous buying options from various book sellers. This service is free to Turn the
Page Inc. customers, so it is a little more difficult to evaluate it’s success in the
monetary sense. However, by monitoring its usage and popularity we can see how
successful the service is. Further, evaluating the brand of the company can be done
in a few ways.
For one thing, market research will be crucial to evaluating the company and its
service because understanding what the customers think of the company and how
they use it is imperative. Implementing a strategic monitoring system will help
Turn the Page Inc. evaluate its success and its service’s success. First the company
will need to identify key variables that may affect the service being offered,
including external forces and those forces controlled by the company. In the case of
Turn the Page Inc., some of the external forces that must be considered are possible
competitors and the changes they may be making to their objectives and strategy
and changing industry trends. They then need to make an outline of where they
want their service to be when. a positioning statement is one way in which they
will do this. They could also use a projected income statement to show the possible
success or they want the service to be.
In order to evaluate the success of Turn the Page Inc.’s branding and marketing
success they will first need to set goals up front. Those goals need to include usage
of their site and service and profit of the company. They will also need to set up
feedback loops to ensure they utilize the information gathered. They could set up
monthly check ins with all their employees to gather feedback and make sure
everyone is still on the same page. They can also use customer surveys and reviews
to improve their current service and develop future products and services. They
will use customer and employee feedback to see where they may need to course
correct and take corrective actions to point them back in the direction of success.
To evaluate the success of inner windscreen wiper, the level of customer
satisfaction, customers’ complaints, feedback, frequency of use, depth of use,
number of defects, process excellence, profit realized, and return on investment are
used. Customers’ complaints and feedback are very important because it helps the
company to pinpoint the strengths and weaknesses of the product (Ehrenberg &
Goodhardt, 2016). The feedback process that is used includes identifying a target
group to extract feedback, getting consent, solicit actual feedback, tabulating the
feedback, analyzing, and reporting. The customers to give feedback are selected
randomly. This feedback loop is a chain of flow of feedback from the customers to
the actual analysis by a company. As a result, the company will look for a way to
improve on the weaknesses. Moreover, complaints and feedback of customers act
as a baseline for examining that requires corrective actions.
Profit realized by selling the product is very important in evaluating
success. If the company realized a huge profit margin, it suggests that the product
is successful. Conversely, low profits indicate that the product is not successful.
Return on investment (RoI) is evaluated by measuring the contributions to profit
generated by the product. Customer satisfaction is an essential measure of
success (Stark, 2015). If the level of customer satisfaction is high, the company
will understand that the product is doing well in the market. Contrary, if the level
of customer satisfaction is low, it suggests that the product is not successful in the
Dept of use measures the number of time consumers uses the product. This
is achieved by seeking feedback from consumers on the periodical use of the
product. Counting the number of defects registered in a given period of time is
important. A large number of defects depict that the product is not successful.
Process excellence helps in determining the challenges and successes experienced
by the company during the production of the product (Ehrenberg & Goodhardt,
2016). If the challenges exceed the successes, then it suggests that the product is
not successful. Customer perception is another important metric to use. Positive
perception is an important indicator that the product is successful.
To evaluate the success of the brand, looking at the website traffic,
conducting surveys, looking at the search volume data, and volume of mentions are
used. The surveys are conducting by asking existing customers about how they
heard of the existence of the product. The company will measure website traffic
over time in order to gain insights into brand success (Ehrenberg & Goodhardt,
2016). This is achieved by the use of Google Analytics. In addition, Google Trends
and Google Adworks Keyword Planner are used to check the volume of searches
and mentions for the brand.
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