Ques:- An elevator company wants to know why their sales have fallen and with it their profits. Quantify the loss they have made. Tell me how we need to get around it.
Asked In :-
Indocosmo Systems, Born Commerce, Principal Global Services, Promact Infotech, iB Arts Pvt. ltd, MMF INFOTECH, INMORPHIS SERVICES, AJACKUS, Pi Techniques, Nagarro Software,
Right Answer:
To quantify the loss, analyze sales data over the past year, comparing it to previous years to identify the percentage decrease in sales and profits. For example, if sales dropped from $1 million to $700,000, that’s a 30% decrease, leading to a proportional profit loss.
To address the issue, conduct market research to understand customer needs, improve product features, enhance marketing strategies, and explore new markets or partnerships. Additionally, gather feedback from customers and sales teams to identify specific pain points and adjust offerings accordingly.
To quantify the loss, analyze sales data over the past year, comparing it to previous years to identify the percentage decrease in sales and profits. For example, if sales dropped from $1 million to $700,000, that’s a 30% decrease, leading to a proportional profit loss.
To address the issue, conduct market research to understand customer needs, improve product features, enhance marketing strategies, and explore new markets or partnerships. Additionally, gather feedback from customers and sales teams to identify specific pain points and adjust offerings accordingly.
