Experiential Learning - SFCM

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  Experiential Learning  –  SFCM Pickup a company in line with the topic given to your team. Study the sales structure of the company allocated to your group. Write a review paper for the above study. The format for the review paper is given below. Class to be divided into 9 teams. The topics for the teams are as follows: 1.   Franchise - B2C - Food Restaurant Eg: Pizza hut 2.   Franchise - B2C - Entertainment Industry (Media) eg: Voice of America 3.   Franchise - B2C  –  Sports Industry eg: IPL 4.   Personal Selling - B2C  –  Home Broadband eg: Jio Fiber 5.   Personal Selling - B2B  –  SME  –  Photocopying Machine - Xerox 6.   Personal Selling - B2B  –  Enterprise  –  Cloud Services (IBM/Amazon) 7.   Channel Selling - B2B - Dealer Network  –  Cisco Switches 8.   Channel Selling - B2C  –  Distributor/Dealer  –  Flavored Water eg: O’cean One8  9.   Channel Selling - B2B - Omni Channel  –  Laptop eg: IBM Thinkpad Format for a review paper Title page: Title--  reflecting topic of review Your Name Date Abstract:  An abstract should be of approximately 200-300 words. Provide a brief summary of the review question being addressed or rationale for the review, the major studies reviewed, and conclusions drawn. Please do not cite references in the Abstract. Introduction:  Introduce the topic and your rationale for addressing this topic focusing on why this topic is important. Clearly define exactly what this article will discuss, outline the order in which you will discuss each subtopic to give the reader any background information needed to understand the coming sections. Body (subtopics being addressed):  Although the structure may vary based in the sub-topics or review questions being addresses. For example, if you are reviewing three different methodologies, you might divide the body of the article into three sections, each discussing one of the methods. In these sections, be sure to describe the research methods and evaluate how studies were conducted focusing on the study design and analysis. Conclusions:  You should develop the conclusion by briefly restating the rationale for your review and the purpose of the article, then discussing the conclusions you have drawn. You should also discuss the implications of your review findings and where you think research in this field should go from here. Literature Cited:  Use a standardized referencing system.  Franchise Basic:  A franchise business is a business in which the owners, or franchisors , sell the rights to their business logo, name, and model to third party retail outlets, owned by independent, third party operators, called franchisees . Franchises are an extremely common way of doing business. In fact, it's difficult to drive more than a few blocks in most cities without seeing a franchise business. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block. In the United States, there are franchise business opportunities available across a wide variety of industries. Investing in a Franchise Business To invest in a franchise, the franchisee must first pay an initial fee for the rights to the business, training, and the equipment required by that particular franchise. Once the business begins operating, the franchisee will generally pay the franchisor an ongoing royalty payment, either on a monthly, quarterly, or annual basis. This payment is usually calculated as a percentage of the franchise operation’s gross sales.   After the contract has been signed, the franchisee will open a replica of the franchise business, under the direction of the franchisor. The franchisee will not have as much control over the business as he or she would have over their own business model, but may benefit from investing in an already-established, name brand. Read What's in a franchise agreement? to learn more about these contracts.   Control of the Franchise Generally, the franchisor will require that the business model stay the same. For example, the franchisor will require the franchisee to use the uniforms, business methods, and signs or logos particular to the business itself. The franchisee should remember that he or she is not just buying the right to sell the franchisor's product, but is buying the right to use the successful and tested business process. The franchisee will also usually have to use the same or similar pricing in order to keep the advertising streamlined. For example, if you saw an advertisement for $75 tax preparation from a well-known tax preparation franchise, you would expect to find this deal at the franchise operation closest to you. Aside from using the business model determined by the franchisor, the franchisee will otherwise remain an independent owner of the franchise. While there are many benefits to investing in an already-successful franchise business model, there are drawbacks as well. As with any investment you make, you should do your research thoroughly before you make any franchise purchasing decisions. If you are considering buying into a franchise, you should contact an experienced franchise attorney for further assistance.   Read more: ///business-law.freeadvice.com/business-law/franchise_law/franchise_business.htm#ixzz60vxDGLO6    Under Creative Commons License:  Attribution   How To Franchise a Great Business Idea   Deciding to create a franchise is a great way to expand your business because it is an opportunity to get your idea out there without having to assume the risks and come up with the capital on your own. When you franchise a business, the franchisee pays the franchisor a fee up front. This fee generally covers the right to operate a business under the franchise trademark. The franchisee then invests the capital, hires the employees, and signs the leases. This relieves the franchisor of most of the risk and burden that comes along with starting a business.    However, franchising a business is not the right method of expansion for everyone. You must first determine if your b usiness is “franchisable.”  Doing your homework first will save you a lot of time, effort, advertising, and legal fees when another expansion option may have been the better choice. Things to Consider Before Franchising Your Business  An owner who wants to franchise should have a passion for management and a strong ambition to grow their business. If you are the type of owner that likes to play a more behind-the-scenes role, franchising your business may not be the right decision for you. Once you have decided that you are, you should subject your concept to a careful feasibility study to see if the business you have makes sense as a franchise concept. Other considerations come into play: is there a large market for my business? Many great business ideas are not suited for a large market. You should determine if your idea is, or could be, a commonly desirable good or service. Furthermore, determine if there is something about your business that is unique so that potential customers are attracted to your product. Moving Forward with Your Franchise If you believe that your business idea is both unique and marketable to a large market, you should then determine how difficult it will be to train a franchisee to operate a successful duplicate of your business. If there is a lot of specialized knowledge involved or if your business has had the majority of its success because of relationships that you have built over the years, training could be difficult. Once you have determined that your business is marketable, and that a franchisee will be able to learn how to run your business fairly easily, you should put yourself in the shoes of a potential franchisee. Will a potential investor see the advantages of investing in your business? Is it a business that can make a profit so your annual royalty fee can be paid? While you may have a marketable business, that does not necessarily mean that you will have a marketable franchise. Making Your Franchise Marketable To make your franchise marketable, your business should be profitably operating and have a strong team of employees. These elements are crucial because someone will not want to invest in an untested concept. A potential franchisee should be able to see the value of your business. They should be able to see a business in which will be worth investing their time and capital. Getting Help with Your Franchise Once you are convinced franchising does make sense, you should contact a franchise law attorney. A franchise law attorney can help you with the intellectual property protections you'll need for your franchise. These protections   include trademarks, patents, and trade secrets. A franchise law attorney will also help you make sure you comply with Federal Trade Commission (FTC) laws and the franchising laws of the key states in which the franchise would be offered or before you start to sell the franchises. Read more: ///business-law.freeadvice.com/business-law/franchise_law/business_franchise.htm#ixzz60vxbVkQ6    Under Creative Commons License:  Attribution   What is omni-channel marketing? A simple definition of omni-channel is a cross-channel business model designed to optimize the customer experience. Whether customers are on desktop computers, mobile devices, conventional advertising channels, or inside actual brick-and-mortar retail establishments, omni-channel marketing gives businesses the ability to integrate channels through the back end. In marketing, then, omni-channel tools use integration capabilities to connect data sources. These sources give marketers a complete view of the customer journey, and allow them to configure marketing messages to specific channels and devices. For example, marketers can collect data or customer habits across all social networks, and use that data to automatically know which channel is the best to reach certain customers, with the best offer for them at exactly the right time. When a client makes a purchase in a store, emails can automatically be sent to the client with coupons for similar products. Retailers can track shopping frequency with reward apps to gamify the experience, allowing customers to collect points, load cash cards, and set personal preferences of various retail rewards programs. Omni-channel marketing strategies make it all possible. What are the advantages of an omni-channel approach to retail? Retail doesn’t exist in a vacuum. As customers enter your store, you can bet that they’ve  already completed the first steps of their customer journey. Eighty percent of consumers research a product prior to entering the store, and 44% of customers are so well informed that they believe they know more about a product than store associates. In fact, 71% of in-store shoppers who use mobile smart devices for research say their device is actually more important to their shopping experience than in-store resources. The point is that when it comes to retail, customers already expect some form of omni-channel accessibility. Going beyond fulfilling those expectations shows customers that you care more about their overall experience than you do about your store’s bottom line. When you do, the advantages can be game-changing. Customer satisfaction may be the most prominent of those advantages. Companies with strong omni-channel marketing strategies retain on average 89% of their customers, while companies with weak omni-channel marketing strategies retain only 33%. This is because, as stated above, customers expect a unified experience. Providing one leads to increased customer satisfaction, resulting in loyal customers who continue to bring in business well beyond the first sale. Improved, unified, consistent cross-channel data provides other benefits. Retailers can be more confidant in their decisions, and create a more accurate picture not only of their customers, but also of their business and industry. Additionally, accurate inventory and forecast data can lead to improved inventory management, in turn leading to decreased markdowns and resulting in improved margins. All of these benefits are a natural result of effective omni-channel marketing strategies, but only if you find the right omni-channel marketing platform.  A SHIFT FROM SINGLE-CHANNEL TO MULTI-CHANNEL RETAILING
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