Mystery Shopping

                                                                                                                                                                                                                                                                                                                                    Blog By     Akkumahanthi Sowmya

Ever heard of mystery shopping ? What is the first thing that strikes your mind ? Shopping with some kind of weird dresses and not showing your face or identity to the people who run the shop? Thankfully there is nothing as such complications in that. It is a technique used externally by market research companies, watchdog organization or even the companies they themselves to measure the quality of their services that they are providing to its customers. The person who is assigned to do the mystery shopping is known to be mystery consumer or secret shopper, his identity will not be known by the establishment being evaluated.
Mystery consumer basically uses the tools such as the questionnaires or full audio recording or video recording. The usage of this mystery consumers originated long back around 1940’s and from the year 2010 its use has become abundant. Especially in the medical services, it's very important in this industry to have a check on how people the patients are treated and what all kind of prescriptions are being given. There is a life on the line which they cannot take any chance by neglecting any kind of service they provide. One more example is the food industries, the types of ingredients that they use and the place they prepare a particular dish, ambiance, etc. All these are taken into account.



While gathering the information, mystery onsumers should be able to blend with the other consumers and pretend to be just a normal customer who is visiting their store for their needs. But they are required to take some pictures, return purchases, count the number of product, seats, people during the visit. After the information that has been gathered will be sent to the mystery shopping company, which reviews analyses the information that includes quantitative, qualitative and statistical methods and prepares the reports for the client company.

Coming to the bright side of the consumer the benefits he gets by doing the mystery shopping is commendable. Here there won't be any replacement for the current job it's just a fun way to get extra cash or free merchandise, event tickets or food. It may not totally include the typical visits to the shops or stores it can also be done over phone calls, online shopping. There are some top rate mystery shopping companies such as

BestMark, it is the top mystery shipping company having a BBB( Better  Business  Bureau) rating A+ whose clients are comprised of Global and Fortune 500 companies. They have their hands spread in different types of companies like casinos, financial institutions, hotels, restaurants, and retail stores. BestMark covers almost 10,000 mystery shops in a month.

Perception Strategies, Inc. This company deals with the healthcare marketing and research organization which will be making calls and patient visits to the concerned hospitals. It is also having the A+ rating with BBB. Companies also like Quest for Best, Sinclair Customer Metrics, Intellishop is also having A+ ratings. 


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Pro’s and Con’s of  SmartPhones

Mystery Shopper's Registration Form



Mystery Shopper's Registration Form
                            
               
                              
          









#mystery shopping
#fun job
#more benefits
#mystery consumer
#secret shopper


By: Akkumahanthi Sowmya
      BBA Second year, Bhavan's
Twitter: @sowmya_12







Tips to Tap Market & obtain better Customer Value.

                                                                                                                                                                                                                                   Blog By     Akkumahanthi Sowmya

Tips to Tap Market & obtain better Customer Value.


There are a number of companies lined up to provide you services. All you need to do is be smart enough to get the best and the most beneficial service. A company now has many links with the other companies so as to run successfully in this fast moving and competitive world there are many partnerships coming up, there are merges happening, some are taking over the firm by buying their shares and what not. All these are done just to capture the customer value in a better way than their competitors. When these organizations are caught in their settlements, we customers should make the most of it. Afterall, we are the ones who are spending money to get the service done so we have every right to put forward our demands and customize our needs and pay for that accordingly. So how do you think you can do that?


Companies are coming up with the share of customer value nowadays as a marketing strategy, here what happens is that a person buys a commodity and will be given a chance or some kind of offers or coupons to buy the other product that could a complementary good or so with the coupons. What we generally do here is we do not pay much attention to these kinds of offers we just have a wrong idea that this is not going to benefit us, but the reality is it actually does. By spending the money on the other commodity of the same company will provide you some points, coupons, or any offers but these in the short run may not be that useful but then in the long this is the best approach to cut down your expenses and get benefitted with the payment of less money and obtaining the value as it is.

In the same way, as above there are companies who are tieing with each other in order to give you the best possible services. This type of concept is called as co-branding, here you get to experience both the brands at a time rather in an explicit manner. Choosing such companies to inorder to get your need satisfied will be the best option, as this can be also said you would be getting the best of both worlds under one shot.

Let's take an example of the two companies that are very well known companies that are uber and Spotify. You may have many other options for the cabs, but then is there any company who will be providing you with the best quality music?Which helps you not get bored while waiting at some places. There may be cabs who may have the music system installed all they do is play the same radio which is done everywhere, here you get a chance to play your own favorite songs and make your playlist and enjoy the ride.

There are many such examples like the Paytm which is helping you to get cash back offers for the purchase of the products such as buy a coca cola product and get free Rs. 10 / Rs. 15 cash back with each product, buy a Pepsodent paste of 86 bucks and you are getting Rs. 25 as a cash back from Paytm, and we can get up to  Rs.75 cashback with the purchase of Devaaya products(poha, maida,suija), 50% cash back with the hide and seek products.

As you can see the above examples you can clearly make a difference how much more you can be benefitted than you are actually having at present. The cash back amount that you will be getting can be used to some other product later and can be used to consume for some other purpose. Are all these facilities possible with the normal cash transactions that you may make every day? I guess the answer is NO, there is no such cash back policy for such thing if you get to inculcate these smart ways of purchasing options you can definitely have the better satisfaction and can experience more benefits.


BBA Second Year, Bhavan's














By: Akkumahanthi Sowmya
      BBA Second year, Bhavan's
Twitter: @sowmya_12 



http://www.fintech-start-up.com/2017/11/tips-to-tap-market-obtain-better.html

#merges_companies
#competition_companies
#opputunities_employees
#smart_decisions
#choosing_best_worlds
#satisfaction_customers

Reverse EMI

                                                                                                                                                                                        Blog By     Akkumahanthi Sowmya
Smart Savings & Purchases.

When you think of money management, savings is what strikes your mind and its a great start as well. In order to afford large purchases such as a car, a home, etc. These require a huge amount of savings beforehand. And let's face it if we spend the money what we have for the present and we would be left with nothing or maybe less money for the future purchases. Let us assume a case, you have a stash of money and you are keeping them in your drawer, in your piggy bank is there any additional amount added to your money? I guess its a NO. so when there is a possibility to gain more amount while saving it in the banks and earning interest on them, so why not this way of savings?

Whenever you want to purchase a product and may not be having sufficient money companies have your back by going you the ‘EMI’ facilities to those products, EMI id nothing but Equated Monthly Instalment.  As the name suggests the total amount which has to be paid is equally divided into different months and that person is liable to pay that particular amount in installment manner till the total amount reaches. EMI facilities are used in most of the companies now, it is dependent on multiple factors such as principal borrowed, a rate of interest, the tenure of the loan and monthly/annual resting period.
Companies have become even smarter by giving the chance to the customers to acquire their product then and then with the EMI facility where people may be thinking its very nice and they get attracted towards the offer and make the deal. But, there is a better option to the customers that they still may not be knowing that is the REVERSE EMI, here what you do is you start saving your money in the bank from the very beginning or whenever you are planning to buy that product and start saving it in the bank this will help you to get interested on the amount you are saving. So here basically what you are doing is instead of taking the EMI scheme where you will be paying the amount to the company and interest is added to the payment, you are saving that amount in the bank and gaining interest on the savings which helps you to obtain the product in future and not by paying the extra amount to the company.

Let's  take an example, you would like to purchase an iPhone 8 plus (64 GB) and which is presently costing  69,499 bucks. There are many installment policies offered by the different companies in order to sell their product, like in Amazon we are having the options of many banks as of now let me take the example of ICIC Bank where they are providing you the duration month starting from payment of Rs.23,670 with the annual interest of 13.0% for 3 months total amount of the final product would be 71,010 rupees, to the Rs.3,370 with 15.0% as interest and costing the total product of rupees  80,874.

As you can see in the above example the amount to be actually paid is so less compared to the amount paid later this would totally opposite in the case of reverse here as long as you are saving your money in the bank the more you will be able to get the interest charged on the product and when you are actually paying the amount to obtain your commodity there will the decrease in the price of the product as well so here you are doubly gained fro both the sides. This is the smartest of the way of saving money and purchasing the desired product. 





A blend of human and technology is the key to success.


BBA Second Year, Bhavan's

















By: Akkumahanthi Sowmya
      BBA Second year, Bhavan's
Twitter: @sowmya_12 



#savings
#importance of savings
#smart savings
#EMI
#Reverse EMI
#EMI vs. Reverse EMI.