Revitalizing KD HiFi assignment: Strategies for Recovery and Market Repositioning
Question
Task: How can KD HiFi assignment effectively recover from its downturn and regain its market position through strategic changes and technological advancements?
Answer
Introduction
KD HiFi assignment is a company which has registered constable success on its business ventures since the 1980’s. This has seen the business diversify from selling only car stereos to home entertainment systems, CDs, and DVDs. The millennium saw KD HiFi assignment also expand to selling TVs, Blu-ray units, gaming consoles, cameras, and computers.
But the millennium would also bring along some major changes to consumer behaviour with the increased use of the internet where the customer would turn to stream and downloading music and movies. Consumer behaviour would also change from going out to shop to e-commerce shopping which would catch KD HiFi assignment unprepared and have a devastating effect on the businesses sale (Rahayu 2015).
Effects the Internet and Ecommerce has had on KD HiFi assignment
KD HiFi assignment has experienced a serious slowdown in their sales of music and movie CD’s and DVD’s which have fallen to almost Zero due to consumers downloading softcopies directly to their gadgets. KD HiFi assignment hardware sales of items such as TVs, Blu-ray units, gaming consoles, cameras and computers, has also experienced a major fall due to intense competition from e-commerce businesses which have managed to slash prices by almost 50%. This has been achieved due to the businesses utilizing alternative strategies to market, purchase, and store and distributes the products they sell. This has helped reduce overhead costs such as rental, showrooms and utility bills (Kumar and Petersen 2006).
Proposed Modifications to Reverse the KD HiFi assignment’s Downturn
To remain in business KD HiFi assignment will have to consumer implementing radical changes to their marketing and sales approaches so as to remain in business. This report shall discuss strategies that KD HiFi assignment can adopt with regard to managing a Call processing centre and Delivery and Installation department so as to regain its market position. Both departments would be new to KD HiFi assignment which has relied on traditional business and marketing strategies and his will require for major changes and training programs to be implemented which would allow the business to remain operational and more importantly generate a profit (Khan 2016).
ADDIE MODEL/ ISD MODEL
To successfully achieve this transition the business would need to implement the Instructional System Design (ISD) model/ the ADDIE MODEL (Analysis, Design, Develop, Implement, and Evaluate) which would allow the training program managers identify and utilize important approaches to make the transition successful. Each of the elements of the ISD/ ADDIE MODEL shall be discussed with relation to each of the change processes and help identify important points to help improve the organization future performance (Branch 2009).
ADDIE MODEL
Analysis
Call processing centre
Gone are the days when businesses waited for customers to come to their shops to purchase goods or services and today each customer expects the business to be at their service. This is in relation to every aspect of any business thus KD HiFi assignment must turn their attention from utilizing traditional approaches to setting up call centres which are focused on reaching out to the consumer (Langer 2012).
The call centres should be able to bridge the gap between the business and its customers which would allow the business communication, interact, convince and tend to consumer queries related to new products and services. The services would also be focused towards the introduction of new products and services and be equipped to offer support related to management and maintenance of existing products and services which would allow the business retain its customer’s confidence.
Delivery & Installation department
As e-commerce business offer intense competition, KD HiFi assignment must adopt an alternative approach that offers more value for money thus making it an attraction for customers (Mahajan 2007). To achieve this KD HiFi assignment intends on starting up an in-house delivery and installation unit, this department would focus on delivering and installing goods, products, and services which have been purchased by the businesses customers. It would help make KD HiFi assignment the first business to offer comprehensive sales, delivery, and installation of products and services which would give the business the upper edge in the market. But to set up an effective call centre and Delivery & Installation department KD HiFi assignment must provide adequate training to the concerns teams so as to ensure the business archives it intended targets and goals.
Training Needs Analysis
It is also imperative for KD HiFi assignment to analysis and evaluate it current employee skills and knowledge which would allow the HRM to develop an accurate Training needs program for the proposed business process changes. This would allow the HR department identify their employee skill sets which can be organized to deliver effective training programs to each of the employee’s thus helping speed up learning as well as reducing the overhead costs linked to the training programs. This also allows the business identify employees who demonstrate a higher potential to be more adaptable, flexible and open to learning which makes them more versatile and able towards the business operations.
Design
To implement the new processes KD HiFi assignment will need to utilize its current manpower and resources which would help reduce employee retrenchment and operational costs. Most KD HiFi assignment showrooms will be replaced by an effective e-commerce website which would display all the business products and services to customers (Watt 2007). the website would also offer all other essential services requires by consumers such as customer account, a safe payment gates way and well as a customer support among many other services.
Call processing centre
KD HiFi assignment must also have a link to the e-commerce website, its customers, products, and services which will deliver a more comfortable user interface and experience to its customers. This requires for a professional call processing centre to be set up which would allow the business to connect with its customers with regard to any given customer need.
The design would see the training of existing KD HiFi assignment sales and support person on call processing services (Sharp 2003). The person would be preferable due to them already having considerable knowledge related to the business, its products and services thus are in the best position to sell or offer support to its customers. It would also help reduce the number of new employees required for the process as well as the number of retrenchment caused by the adoption of the new process.
Delivery and Installation department
The Delivery and Installation can also utilize willing business employees with expertise and knowledge such as driving and installation of products. Training session to perfect delivery and installation shall also be offered to the employees thus allowing KD HiFi assignment offer a comprehensive service which includes e-commerce marketing, sales, delivery and installation under one roof (Macintyre, Parry and Angelis 2011). This would allow the business adopt new trends which will help it become more competitive on the market.
Develop
To effectively execute the two new processes to the business an effective plan must be developed with relation to each of the processes. Each would need to be developed independently but maintain a close relationship and communication with the other so as to be effective.
Call processing centre
The existing sales and marketing personnel would require being enrolled for call centre training programs which would acquaint them with the process involved in marketing, sales and support over a call. This is very different from one to one marketing and sales as the customer's attention needs to be captured and retained over a phone call. For this to be executed the call centre executive needs to be well versed and have full knowledge with regard to the products and services so as to convince the customer of their capability to deliver on the customer's expectations (Butler 2007).
This would, therefore, require for call centre executives to attend two training programs, one aimed at training the personnel to handle customers over phone calls while the other focusing one developing extensive product and service knowledge. This would provide the call centre executives with the capacity to maintain full control while dealing with KD HiFi assignment customers.
Delivery and Installation department
The KD HiFi assignment delivery and installation unit would also require being provided with professional training programs so as to maintain control over their responsibilities. In addition to training programs, KD HiFi assignment would also need to invest in modern Equipment which would allow for easy navigation and communication between the customers, call centre and delivery and installation personnel (Prins and Owen 2010). Being able to know and see the delivery and installation unit’s movements and progress has proven to be effective tools with regard to cab services and it likely to also secure immense customer confidence at KD HiFi assignment.
Implement
The secret behind successfully implementing the new processes at KD HiFi assignment would be directly be associated to interlinking all stakeholders using modern digital communication. Communication between all stakeholders is the backbone of success due to it allowing transparency between each stakeholder which helps build consumer confidence (Vidgen 2012). The new processes at KD HiFi assignment fully in-house operations which mean the business would not depend on third party delivery and call centre services. This is a critical element as it would allow the business greatly reduce its operations costs and improve the businesses efficiency which are both important elements towards the business smooth operations.
Call processing centre
Call centre executives would require learning and master customer call processing with relation to every aspect thus helping them win consumer confidence and convert sales. They would also need to master the use of multiple communications medium which would allow for the call centre executives to establish and maintain communication with all customers thus allowing them to executive most sales and customer needs (Petouhoff 2006). It’s important to keep in mind not all customers are well versed with modern digital communication and some may require traditional communication mediums to be used thus the executives must also be able to handle those customers’ needs so as to maximize the sales and customer satisfaction.
Delivery and Installation department
Time has become a precious commodity for most people today thus it's critical to minimize delivery and installation time as much as possible. Today cities offer the most aggressive consumers and many have full-time jobs to attend to thus there is a small time gap they can dedicate to products and service delivery, unpacking and installation. With a set target window of just +/-10 minutes for a delivery to be made, KD HiFi assignment would also need to train its delivery personal towards using modern navigation technologies and machinery.
Use of Modern Technologies and Gadgets
Such as Google maps which would help provide a more accurate delivery time estimate (Kymal 2004). This would also allow for the customer to directly access the service allowing them to determine exactly where the delivery van is thus allowing them to make a more informed decision regarding the delivery.
Maintaining this direct communication helps build customer confidence at they are better able to plan their day and can help avoid delays or issue delivery cancellations if they might be too late. It would help all stakeholders remain in constant communication thus helping save time and resources which also contribute towards reducing the business operational costs.
Adoption of Delivery Friendly Equipment
The KD HiFi assignment Delivery and Installation unit would also need to adopt and train its personnel to use different forms of transportation to minimize delivery time. Delivery personnel would require being prepared to use 2, 3 and 4 wheelers depending on the type, size and distance of each delivery keeping in mind time efficiency and customer satisfaction. This will also mean that KD HiFi assignment would need to invest in different transportation vehicles which can be distributed across the city accordingly thus helping easier transportation of goods and services to customers within the specified +/-10 time frame.
Evaluate
Every business process requires close evaluation and instant up gradation so as to remain efficient and competitive. This makes it important for KD HiFi assignment to constantly evaluate the two departments operations and collect information and data from its customers as well as executives with the objective of improving service delivery. To help the business reduce the requirement to implement major changes which are likely to ensure the business high expenses, KD HiFi assignment would need to also set up a data collection centre which would collect information which can be organized and presented for gradual change implementation (Thomas 2014).
This would help reduce the pressure for large-scale change being made on business operations which are likely to be time-consuming and require high costs. To avoid this constant evolution and gradual change implementation must be the performance of all KD HiFi assignment operations so as to maintain the business competitive edge and consumer confidence.
ISD Model (Instructional Systems Design)
For KD HiFi assignment to further improve their business strategy changes it important that the HRM, senior management and consultants also utilize the ISD Model. The Instructional Systems Design model will allow the business to analyse, design, develop, implement and evaluating processes undertaken to improve product and service quality and effectiveness. The ISD Model will also help KD HiFi assignment identify clearer goals, develop independent process steps and approaches and develop a closed system which would deliver fixed and tested system instructions which would help the business achieve better results.
Kirkpatrick Theory
To further improve the proposed business strategy change must also utilize the Kirkpatrick Theory also known as the effectiveness of training evaluation chain. This theory requires for four elements namely the reaction, learning, behaviour and result of any proposed business strategy change to be documented and evaluated to determine each stake holder’s reaction and feedback. Change tends to have a positive and negative effect on different stake holders thus understanding each stake holders views can help identify important approaches the business strategy change can consider and use before implementing any proposed changes.
Conclusion
KD HiFi assignment has experience major complication related to sales due to the development of new digital technologies and the businesses failure to adopt modern digital marketing, communication, and sales approaches. To realign the business and make it more competitive in the market the business must include a Call processing centre and Delivery & Installation department which would allow the business reconnect with its customers. This would allow for the business to regain its competitive edge in the market thus allowing the business to remain in operation and gradually focus on product and market expansion in the future.
Recommendations
KD HiFi assignment must change its business strategy if the brand intends to survive in the market but it’s also important for the business to properly plan its approach to avoid over stretching its resources during the strategic change. With limited financial resources and capital and struggling to generate income and sales, the business must consider utilizing its current man power, resources, equipment and infrastructure to begin implementing the proposed changes.
Gradually as the operation have a positive effect on the business and increase its sales KD HiFi assignment can consider reinvesting on modern and more effective equipment and special training programs. Once settles and each individual understand their role the business can also consider borrowing capital to help invest on the strategy change plan which will help speed up the process. Implementation of the proposed plan must be gradual to prevent sudden and unexpected change which may result in further hampering the businesses operation and sales.
References:
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