Question

Which Wich Superior Sandwiches

1. What are we known for?
2. What is our unique selling proposition?
3. What resources do we have readily available?
4. What do our customers love about our product(s)?
5. What are we doing that no one else is?
6. What do our customers dislike about our product(s)?
7. What are we doing poorly?
8. What is the competition doing much better than we are?

Answer 1

1.What is our unique selling proposition?.

A unique selling proposition, which defines your company’s unique position in the marketplace, is an important part of creating pricing power and a business that customers genuinely love.

A strong unique selling proposition lets you to stand apart from competitors and actively focus your energy on creating things that cater to your ideal group of customers.

2.What resources do we have readily available?

Readily available resources: Cash held in savings and checking accounts, stocks, bonds, Treasury bills, certificates of deposit, mutual funds, money market accounts, real estate other than primary residence, down payment cash gifts.

3.What do our customers love about our product(s)?

Quality:- In order to produce a product of quality a company must utilize state of the art formulation services to devise the product’s formula. Method Development and Validation are also necessary to ensure that the manufacturing processes are consistent and continually producing a top-notch product.

Innovation:- Innovation is paramount in keep an audience’s attention and generating new customers. Innovation is also one of the hardest aspects for companies to personally implement as it requires product knowledge on a fundamental level. Companies looking to keep their products fresh use custom analytical laboratories to revise and improve current formulas through reformulation, as well as create next-gen products. Such laboratories use analytical chemistry to create products that have an increased efficacy, improved look, longer shelf-life and other desired improvements.

Competitor Comparison:-While marketing, packaging design, and price all contribute to consumer choices; these 5 attributes relate to the product itself and can either make or break long-term sales and brand loyalty. To pursue customized analysis for your product or to create a new product formulation.

4.What do our customers dislike about our product(s)?

For your business it could be something totally different. Maybe you commit yourself to making more face to face customer calls than anyone else. Maybe you are willing to take the time to make the highest quality product possible, regardless of how long that takes. Or maybe your entire business needs to be focused on doing something nobody else is willing to do (Think about all of the jobs on Dirty Jobs on Discovery Channel. At some point an entrepreneur said to himself “hey, I’m willing to do that and no one else is and I can make money doing it”).

5.What are we doing poorly?

1. You’ll put in more hours each week than anyone else you know.

2. You’ll always wonder about what you missed out on.

3. Stress.

4. Becoming world-weary.

5. Lean times.

6.What is the competition doing much better than we are?

Analyze the competition:-This exercise alone will show you if and how you stand out, but it’s more likely to show you the sameness that exists in your industry and the opportunity you now have to create a difference.

Ask your customers:-Ask them about their experience with your company and how they think you can make it even better.

Know your advantage:-In my opinion focusing all of your strategic thinking, goal setting and actions on building a better process or better relationships is the surest and simplest way to create a true competitive advantage

7.What resources do we lack?

One of the primary reasons to do an open-source project is to benefit from feedback from outside your company. If you do not have the resources to take advantage of this community feedback, then you are missing out on a major opportunity. Many company-sponsored open-source projects suffer from this problem by having inflexible plans made without consulting their communities. In addition to not acting on the good ideas suggested by your community members, you alienate them by ignoring what they are trying to tell you. They will stop wasting their time trying to interact with you and devote their energy elsewhere.

8.What is the main area we need to improve on immediately?

Typically, organizations will identify a problem and then work to identify the root cause of the problem to come up with a solution for implementation. But what if there are several, few, or no problems in the organization, but you would like to improve your organization? How do you go about identifying areas for improvement? One of the best ways that I know how an organization can identify areas for improvement is to use a Lean assessment methodology.