Rebranding in Formosa Asian Market - Assignment Example

Topic: Rebranding in Formosa Asian Market Name of Student: Institution Name: Student Registration Number: Date of Submission: Executive Summary This paper focuses on identification or retailer rebranding project with a focus on Formosa Asian market in the aspects of customer service and promotion. This is focused on improving the corporate retail brand for the entire market. It will involve the proposal to include new developments in retailing that takes a number of forms such as electronic technologies that enable a number of forms of communication with customers and retailers. The main areas of rebranding that this paper focuses on include customer service and promotion. More focus is put on the role of effective customer service and promotion in bringing lovely market environment and giving customers exciting shopping experience. This involves implementation of processes such as clean products to customers and charging fairly for products sold by the stores of the company. 1. Introduction Formosa Asian market is regarded as one of the leading discount retailers in serving the populations in Brisbane and Gold Coast for two decades (World business Organization, 2003). It has a high capability to compete in the business world and has the capability to vie for the attention of consumers in an increasingly classified economic environment. Despite this potential, there are a number of customer service and promotion strategies that need to be incorporated in its activities. It has been necessary to ensure employees are offered competitive health care, bonuses, incentives at work and scheduling of work as it has not been possible to train employees to promote talents in individuals (Tomba, 2002). Customer service at Formosa Asian market stores has not been effective and it has been necessary to improve the processes within the stores of the company. It has also been necessary to conduct promotional services that ensure costs of promotion are reduced and all areas of the market where there is high potential are reached. Promotion services of Formosa Asian market stores have neglected a number of approaches that are significant in reaching its target potential of profitability (Terry, 2002). It is also significant in ensuring products and services that have been recently introduced to the market are bought to reduce the level of dead stocks within the company’s outlets. The purpose of rebranding process is to ensure there is an increase in amounts of sales while improving customer service awareness within the Formosa Asian market (Tang, Chan & Tai, 2002). Customer service suggested in this paper provides approaches of that ensure shopping problems are solved and customers are directed to the company or its outlet and funds are allocated for the purchase of things after which customers are given the opportunities to make recommendations about the purchase. 2. Literature Review and Synthesis of Observations 2.1. Rebranding of Customer Service Customer service within the Formosa Asian market is intended to be improved by making it a less daunting task to go into other stores. There are a number of deficits when it comes to provision of customer service in Formosa Asian markets. One approach is provision of personalized assistance to customers. Personalized assistance will be implemented by determining the needs of each customer and fulfilling them to create a better relationship with them (World business Organization, 2003). For instance a person in charge of providing customers with fruits within a store needs to display the goods in a manner that pleases the customer. This will solve the difficulties experienced by customer service attendants in Formosa Asian markets who have been unfriendly to customers. This recommendation will assist them to take note of what customers need and deliver the products to homes of customers if possible (Whitley, 1994). Add-on service also provides another approach towards accomplishment of customer service. There are a number of technical and customer support needs that are not usually provided by customer attendants at Formosa Asian markets. For instance, most customers have reported that they the serving process in the counters at the stores are slow due to manual counting of purchases while no action has been taken to correct this situation (Tomba, 2002). In order to solve this problem, Formosa Asian market stores will need to use electronic cash registers to facilitate transactions between them and their customers. This will ensure customers are served quickly and time spent in queues is considerably reduced. Exciting shopping atmosphere is another way in which customer service can be improved (Terry, 2002). Most stores in Formosa Asian markets are not properly designed and customers have complained of inability to access certain points within the stores. Some customers have also reported that the lighting systems in some stores are not effective in enabling them to see the goods being displayed in the stores. In order to solve this problem, Formosa Asian market stores need to be designed in a manner that is pleasing to customers. The stores should have clean pathways that allow customers to move freely within the stores and select the products they need to buy. It will also involve displaying products with neatness and proper lighting of the stores to allow visibility of the products. Customers should also be provided with a wide variety of products to choose from. Customer loyalty can be significant in ensuring customers are loyal to the company and do not make purchases in other locations (Tang, Chan & Tai, 2002). Employees have reported that there are certain number of customers who have stopped making purchases in Formosa stores because they are not attended to affectively by customer service attendants. This has resulted into a question regarding the manner in which customer service is conducted by the company’s workers. This paper suggests that customer loyalty can also be achieved by creating handwritten notes on frequent basis and communicating with customers regarding their demands for products and services of the company. It also involves sending customers regular birthday cards, anniversary cards or holiday cards and gifts to customers as a sign of good relations with them. Service failure recovery system is significant in ensuring customers are served irrespective of failure of service systems (Shurtleff & Aoyagi, 2010). In most stores in Formosa Asian markets, customers have complained that their purchases are not properly recorded in the stores data bases for easy tracking. In addition most Formosa Asian market stores depend on electricity from the national grid which does not have backup in case of power failure. This has resulted into invisibility in stores during power failure and customers have complained about this. For instance, lighting systems in stores should be provided with backup that allows continuous lighting irrespective of power failure. Serving machines such as electronic registers should be provided with data recovery systems to assist in provision of services irrespective of power failures. 2.2. Rebranding of promotion services The promotion process for the products produced by the Formosa Asian stores are enhanced by offering a number of different products within their stores at a competitive price thus resulting into a large market share and overall domination of existing market economies (Crook, 2010). However, there are certain deficits in promotion that needs rebranding within the activities of the market. The main areas of promotion that are investigated in this study include creative promotion design, the role of media in facilitating promotion, sales promotion and in-store promotion. Creative promotion design includes services such as refreshing the identity of the company and development of a strong and consistent brand. It has been observed that the design used by most stores in Formosa Asian market is the traditional one and no efforts have been made to improve the design of stores. Most customers have reported their displeasure with the manner in which products are designed and displayed for pickup by buyers. This problem can be solved by expanding the activities of the company in a manner that reflects the increased growth and development of stores and creation of a selling point for a range of products and services. There should be a pleasant perimeter around the stores of the company that allows quick movement around the stores to see displayed goods such as fruits in fridges. This creates a pleasing experience to customers. In most promotion services of Formosa Asian markets, the media is not given a first priority in advertisement in preference to other forms of advertisement. Consequently, it has been difficult to create awareness among the public regarding products and services provided by the company. The main method in which media can be used to promote products and services is the use of posters (Roy, 2003). In this form of promotion, products sold by Formosa Asian markets stores can be done by putting posters around major streets in the target regions such as subways. This ensures people who wait near these places are able to read the information relating to products of the company and locations where they can be found. Formosa Asian market can also use of sales promotion. The management has not put focus in using sales promotion methods to attract customers. For instance, most stores do not provide customers with coupons or free samples when ne products have been introduced into the stores. Formosa Asian market stores can encourage this through the use of coupons, free samples, refunds and rebates. Other methods include the use of demonstrations, contents and hot points of purchase. Sales promotion can also involve the use of point-of-purchase displays such as magazines and candy. Instore promotion is also another strategy that can be used to accomplish the goals of promotion (Roll, 2005). This has not been effective among most stores in Formosa Asian markets. These difficulties can be solved by holding parties, providing customers with discounts and career counseling to attract customers indoors. It also includes local shop offers where career guidance is provided to customers. Formosa Asian market store managers can also team up with high-end designers to assist in offering a collection of services at affordable rates. In case there are any damaged goods within the grocery, these goods can be auctioned for bargain hunters. 3. Recommendations and further developments on Literature Review This paper provides a right direction towards rebranding operations at the Formosa Asian markets in terms of improving customer service and promotion. However, there are some improvements that will need to be included if effectiveness of these services need to be achieved (World business Organization, 2003). For instance, it will be necessary to conduct further studies on the role of social media and mobile services in promoting products and services within the market. This will involve creating a local presence in their consumers through virtual methods such as mobile apps and groups within networking sites such as Facebbook. The main recommendation with regards to customer service by the Formosa Asian market stores is to incorporate the suggestions illustrated in this paper. These actions should be preceded by conducting an evaluation of the appropriateness of the methods of rebranding suggested for improvement of performance of the stores. Based on the effectiveness of the above methods of rebranding, it is likely that the company can attain high performance if it implements the suggestions (Pecotich & Shultz, 2005). For instance, it is recommended that customer service where personalized service is provided to each customer will be beneficial to the company because customers will experience high concern for them and remain loyal to the company. Another customer service that is recommended for implementation by the company is creation of an exciting shopping experience for customers. This involves proper lighting and attractive display of products in stores. This will ensure customers are pleased with shopping activities in these stores. Consequently, they will be willing to return and remain loyal to the company. Promotion strategies suggested in this paper also provide a guide to a positive direction towards the performance of the Formosa Asian market. For instance, creative design will ensure the company creates awareness for its products through design in a manner that is pleasing to customers. This will result into retention of customers and their willingness to remain loyal to the company. 4. Conclusion This paper provides practical approaches that can be used to ensure customer service and promotion are enhanced to improve the overall customer retention at Formosa Asian markets. It also ensures customer attendants are able to learn certain specific skills in severe situations with customers. It is also an efficient resource that enables diffusion of worst case service problems and when the art of practical negotiation is implemented, it results into beneficial personal and professional dealings. Formosa Asian market has a number of channels that can be implemented to achieve customer satisfaction and ensure its profitability is improved. The process of rebranding is therefore an activity that can be attained. By incorporating the right strategies and actions, it is possible to rebrand its sales to ensure high competitions from dealers in similar products and services is controlled and the company remains profitable within its line of operation. The processes of customer service suggested in this paper are quite different from ordinary methods of dealing with customer needs because it provides guidelines for dealing with worst cases. There is the need to come up with policies that enhance the knowledge of staffs, creates negotiation competences and allowing the personnel get extra knowledge that ensures they please their customers even in the dire conditions. References Brawley, S. (1995). 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