Business controlled assessment - How to compete with competitors Essay

Submitted By Lachlan1231
Words: 1155
Pages: 5

28th January 2014
Lachlan Radley

Business controlled assessment

What is the most important way the small business you have chosen meets?
Customer needs?

For my business I have chosen a business called Frontrunner services, they provide help with all computer needs, but they specialize in a horse betting programme and provide the best software on the market. Here is what they have said on they’re website.
About Frontrunner
Frontrunner is the UK's leading provider of stable management software aimed at top tier thoroughbred stables.
Over 20 years experience in racing software.
We specialise, exclusively, in dealing with the bloodstock industry, mainly trainers
We deal with all your IT problems, broadband, payroll, changing the ink in printers
There is no one more experienced in the office needs of a trainers office
We have worked with Johanna Williams of (Easy-Entry) for two decades
Our two systems compliment and integrate with each other
We have a reputation for caring passionately about horse racing,
Our customers, and doing our best any time you need us (unless it is Cheltenham or Ascot week) (source)
As you can see from the research above, Frontrunner offer a lot of services, this is one of the ways that they meet they’re customer needs.
I interviewed the business owner (Mark) to see how he meets his customer needs from his point of view.
Interview + Graph
‘What are the three ways you meet your customer’s needs?’ he replied with ‘fast response times, good customer service and high quality product/service at a reasonable price. I also make it easy for my customers to get in contact with me, as you can see on my website’. (source photo)

I then asked him ‘So, how do you keep up with your competitors?’
He said ‘I learned about my competitors. When my target market isn't buying my products, I research the competition. Then I conduct a phone/email survey to my potential or previous customers to uncover the qualities of other computer services. After that, I attempt to replicate those qualities in my daily business practices.’ One of the way’s he has changed his business to meet is customer needs is create a website which provides information, contact details and what services they provide.
My last question was ‘How did you make your small business succeed?’
He replied ‘As a small business owner, I work hard. I put in over 60 hours per week and spent my own money to make my business dreams come true. At first my business failed, but I did not give up.

I put in a lot of hard work and eventually technology caught up to the point where everyone was using it. With all that hard work and investment, why is it that my businesses failed at first while others succeed? The answer is one simple word: planning. What does planning have to do with customer service? Everything. I planned my financial projections, I planned my advertising, I planned for optimal location, overhead, insurance, and many other aspects of my business. What type of plan do I have for customer service?

We all know that customer service is important, but what does that really mean? How do we provide excellent customer service? We do it by being mindful of our goals to keep my customers coming back.’

I predict that the number of customers will carry on rising since there will be more technology, and more people using it. I think the reason mark’s number of customers increased is because of the advance in technology, with more and more customers becoming available it gives mark a much wider target audience (more people in general). Also he has met most of his customer needs, so when people talk about him they will give good feedback to each other.
Ways of meeting customer needs
Listen to your customers. Whether talking on the phone with a customer or conducting business in person, take a minute to ask your customer why they purchased your product. Call, write or visit your