Most companies and corporate entities, don't know that people are watching and monitoring their products and services.
It may be minute, and little changes but it sure speaks heavy on business relationship and patronization.
Take for example,
Am very fond of eating little snacks, be it Groundnut or chin chin.
I love keeping my mouth busy.
There was this new product I fell in love with, the quality was top notch.
Its a chin chin by the way.
Very soft, milky and lovely.
You can take one, and be filled.
Been taking it for few months now.
I didn't pay attention, for a while, cos my addiction was becoming high.
I took a break.
Then yesterday, I saw the product, beckoned on the vendor, on touching it, I felt there was a drastic change.
I inquired, this thing don small oo,
The vendor replied, flour is costly.
I didn't argue, cos it would be plain insensitivity to do that, understanding the tunes of what's going on, on the streets.
Things are high and expensive.
This morning, I ate the chin chin and saw, drastic reduction on the quality.
It was like the normal chin chin.
I felt bad.
I got some few lessons from this and am willing to share, esp for SMEs, Entrepreneurs, Corporate entities and Companies to learn and grow their businesses.
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Don't reduce quality, reduce quantity.
Yes its important you mark that word.
Quality keeps your customers, quantity doesn't.
You might say, the higher the number, the greater the response.
For some businesses that's the case, esp those doing a quantity based business.
They can subscribe to that line of thoughts, if quality is not their watch word.
But if you are doing a business that involves rendering quality services, you must as a matter of fact, keep to it.
A Customer based business is very delicate.
You might enjoy the profit, but can't keep up with feedback.
Even if your customer base is so large that, if you make some drastic adjustment, that it wont affect you now, but on the long run, it would start affecting your business.
So how do you keep up with rendering services and products and still maintain quality?
Its simple,
Do your study,
Start with a quality that you know, even at hard times, you would still be in play.
Don't start what you can't control.
Understand the market.
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Never underestimate your customers.
Never!
They would shock you.
You might assume they won't know or notice your changes, it would surprise you they did.
The same instinct that brought them into your business, would usher them out.
Never underestimate them.
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Don't start what you can't control.
If you know that in 4 years that your quality would reduce, please go back to the table and see how your business can keep a particular standard and quality , and still maintain it for long.
Definitely, the issue of reducing quantity may factor in later, but Don't tamper with the quality.
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Prices may be a challenge but don't touch the quality.
People would still pay if your quality is untampered with.
Customers note all this.
Am a customer and am giving you this Business tip from a consumer angle .
Of course you are permitted to increase prices, but you aint permitted to Make it Outrageous.
Dont go and increase what you sell #50 to #140.
No one would buy even if your quality is still intact.
Bottom line is,
Maintain Quality, Don't Over inflate the Price.
You would loose.
Keep the Quality,Maintain average Price change, slightly reduce the Quantity and Business would fly in all weather.
Written by Emmanuel Iwuchukwu aka Ema Bountiful.
© 08-10-2016.