Assessment Preparation Checklist: Perform the following tasks to prepare for thi
ID: 463756 • Letter: A
Question
Assessment Preparation Checklist: Perform the following tasks to prepare for this assessment: Read Chapter 3, in the textbook, Contemporary Strategy Analysis, before attempting this assessment. Read the topic “Increasing Sales Revenue” from this week’s online lesson. Title: Understanding Value Added Services During the lifetime of a company, it experiences P and L’s (profits and losses) for a variety of reasons. Many companies provide value added products or services as enhancements to increase their sales revenues. Think of any one fictitious organization from the following sectors and then perform the given tasks: 1. Automotive 2. Healthcare 3. Manufacturing 4. Telecom Task 1: Give a brief introduction of the company. Mention its name, industry type, kind of products or services it offers to its consumers, etc. Task 2: Name three types of value added products or services that the company could include to increase its profitability. Some examples may include: 1. A landlord’s lease or rent incentive 2. A software company’s add-on products 3. A retail store’s buy two and get one free option Task 3: Create a table that includes the performance of the company for the past one year using: 1. Net cost of item 2. Net income from item 3. Net cost of value added item 4. Total net profit Make sure to include product price, actual cost of giveaway (actual or presumed) item, and product or service, in a table that shows profitability measures. Submission Requirements: Submit a Microsoft Word document of the following specifications: Font: Arial, Size 12, double space Length: 4–5 pages Citation Style: APA
Increasing Sales Revenue:
Many companies use "value adds" to enhance their current products or services for a multitude of reasons in hopes of positively affecting their revenues and profitability. For example, companies manufacturing mobile phones nowadays offer several free accessories to their customers on purchase of a new phone.
You should know about value added services because you may use them in your future career when you work for a company or an organization that uses this method or strategy to enhance product offerings.
As a consumer, you must be aware of the benefits of value added services and recognize this as a benefit for purchasing specific items based on the product's accompaniment or opting for certain policies and schemes.
***PLEASE CHOOSE AUTOMOTIVE***
Explanation / Answer
Introduction We have chosen an Automobile company "Toyota" The company is Head Quartered in world 3rd largest economy, Japan The company is known for the revolution that it has brought in 1970s and 80s in the world of manufacturing and operations. The basics of manufacturing has changed after introduction of concept of lean manf. system implemented by Toyota in this own manufacturing facility around the world. The company has rose to the heights of biggest automobile company in the world. The world has admired its products in quality and efficency fronts Some of the car models that the company offers are Corola, Camery, Innovas, etc… Toyota can include these value added servies to increase its sales 1 All the car company generally offers a selected range of colors for the cars. Toyota can offer customized colors to the customers. Customer can choose any of the color they want and the car can be delivered after a specific lead time. 2 All the auto companies offers free services for a period of 3 to 5 years and than paid services at their authorized service centers, for life time. The company can offer free services to old cars also (after the free services are completed), if the owner of old car buys another car of toyota. This will help in preserving the loyal customers. 3 Toyota can offer free tour to its own factory to Lucky customers.