I need help with the below question. Identify two businesses. What did they do t
ID: 395608 • Letter: I
Question
I need help with the below question.
Identify two businesses. What did they do to increase profits?
Conduct some research and identify two reasonably large organizations (for-profit companies, non-profit enterprises, or government entities) that received significant benefits from utilizing quantitative analysis techniques to address an organizational need or problem.
Write a 2-page report with details on each of the following:
recounts the organization
the problem or situation addressed
benefit(s) gained through quantitative analysis
Explanation / Answer
There are various businesses that have taken various steps to increase their profits. For example, Xerox and Mahindra company followed the business process engineering to save the cost and hence, improve their overall profits.
Example 1:
Domino was facing downfall in its sales despite holding 26% market share. It undergone an honest quantitative research and launched new pizza recipe. Just after the launch of the new recipe the company was able to achieve a 14% growth in the sales from the same existing stores.
Due to the suggestions received in the survey, the company could develop a new more user friendly app interface, improve its offerings and make the customers more satisfied.
Example 2:
In 2008 as a result of its quantitative research part, the company realised that the prices were very high for its beverages. This led to the reduction in sales when compared to the competitors. So it put down the prices and made them sensible. Thus, it could sell 10 million more cups of coffee than in 2007.
Also, as a part of its brand revitalisation the company offered more customer oriented menus and also started happy hours. This increased the sales by a margin of 11%.