Business Thinking

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Real Life Business problems .. It could be anything from what you read, experience or do...

Members: 4
Latest Activity: Dec 22, 2011

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The objective of the group is a simple exercise of thinking to any real or not business problems. Goal, is not just to increase the profit, but to make things better, efficient or simple. Just simply post your problem and anyone and everyone is free to provide suggestions.

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Attrition

Started by Rakesh Sep 13, 2011. 0 Replies 0 Likes

Attrition is a problem is a developing country where there is abundance of jobs. Companies are struggling with attrition of there employees. Considering there high training costs and hiring costs.…Continue

Tags: Costs, Attrition, Business

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Comment by Rakesh on December 22, 2011 at 12:13: Nobody , really likes to associate with LOW quality product.. most of them first care about the brand and then functionality.. but LOW quality product can actually have a brand .. People feel cheated if they buy a product and later discovered that its not worth.. so idea:

Make the customers aware of the product quality by actually tagging “Low Quality", but should specifically mention the "LOW price" that it is being offered.. something like .. LQLP .. similarly ,Medium Quality Medium Price.. MQMP and we can take stretch this to much finer levels..

what can such info accomplish ?

1. Customers will be happy about the advance info they are getting.
2. High end customers will not waste time and therefore , targeted customers will be encouraged
3.Maybe we can have specific shops only keeping , such products and especially in locations, where purchasing power is lower
4. Customers, frame of mind could be to test the various type branded products, and not feel wronged about it ..
5. OEM's , actually can use there own names to brand a product of the same quality , but which is sold in significant premium if bought from a brand .. example : Levis Strauss Jeans that could cost from $45 to $90, OEM of the jeans can actually sell the same jeans with his brand with a tag like .. High Quality Medium Price ,Brand's Brand (meaning that he is making the same product, but with his brand).. This , i believe, might create some legal issues, but it has the potential to actually in a way discourage the fake market, as this clearly allows the customer to make the choice .. If he/she is willing to pay premium , then feel free to go buy the brand , but if not , u get same or similar with no brand , but greatly with same customer experience ..

How, I see is that can we look into ways of making the high quality ( which is generally present in branded products) available at poorer,developing sections of the society , but not compromising the high sections societies identity..

happy to hear from anyone ...

Comment by Rakesh on December 20, 2011 at 13:23: How can anyone brand a "LOW quality product", as low quality but functional and useful product is important for countries which are not wealthy and huge sections of developed and developing society?