Few Concepts: :
Few Concepts: Yield Management: It is the process of understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, perishable resource.
(Source: http://en.wikipedia.org/wiki/Yield_management)
Demand & Capacity
Waiting Line Management
The Case :
The Case Tridip Roy, VP(Customer Service), Crysta Industries gets a sour mouth during his meal at Kavita Khanna’s house. (not because of the meal, but because of her comment about washing machine companies)
His company was going to launch new products so he decides to find out what others had to say regarding customer service.
Findings: :
Findings: Archana Tuli: dissatisfied with the service of her water purifier’s company.
Ritikant Sharma: dissatisfied owner of a credit card
Divya Mathur: dissatisfied owner of Crysta Washing Machine
Beryl Dias: dissatisfied owner of a printer worth Rs.28000/-
among others…..
Capacity Constraints and Demand Patterns :
Capacity Constraints and Demand Patterns Time, labor, equipment and facilities
Optimal versus maximal use of capacity Predictable cycles
Random demand fluctuations
Demand patterns by market segment Capacity Constraints Demand Patterns
Waiting Line Management :
Waiting Line Management solo waits feel longer
anxiety makes waits seem longer
uncertain waits seem longer than finite waits
unexplained waits seem longer
unfair waits feel longer
longer waits are more acceptable for “valuable” services
Inferences: :
Inferences: Product should be made to fit NEED of the consumer
The sale is not over after the transaction is complete, rather it starts from that point till the life of the product
Companies should not do after sale service, rather they should take after sale care
Constrains should be informed to customers and immediately dressed to prevent future repetitions.