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Hans-Made Watches is a business that designs and hand-makes European-style watches with a lifetime warranty - HSC - SSCE Business Studies - Question 25 - 2024 - Paper 1
Question 25
Hans-Made Watches is a business that designs and hand-makes European-style watches with a lifetime warranty. Features of the business include: - family run busines... show full transcript
Worked Solution & Example Answer:Hans-Made Watches is a business that designs and hand-makes European-style watches with a lifetime warranty - HSC - SSCE Business Studies - Question 25 - 2024 - Paper 1
Step 1
Describe the product differentiation strategy for this business
Answer
The product differentiation strategy for Hans-Made Watches can focus on several key aspects:
Unique Design and Quality
The watches are designed to reflect European styles, setting them apart from mass-produced alternatives. This emphasis on craftsmanship and unique design can appeal to consumers looking for something distinctive.
Lifetime Warranty
Offering a lifetime warranty not only distinguishes the product but also instills confidence in quality. Customers are likely to favor a brand that stands behind its products.
Community Engagement
As a family-run business, Hans-Made Watches has a unique story to tell, fostering a connection with the local community. Marketing efforts can highlight this aspect to enhance customer loyalty.
Customization Options
Providing customers with options for customizing their watches can further differentiate the product, catering to personal preferences and adding perceived value.
Step 2
Discuss the current acquisition process for this business
Answer
The current acquisition process for Hans-Made Watches involves several key steps:
Local Sourcing
Materials for watch production may be sourced locally, emphasizing quality and supporting nearby businesses.
Direct Sales Approach
The business likely relies on direct sales methods, where customers can visit the shop to purchase watches. This direct engagement allows for personalized service and builds customer relationships.
Online Presence
While primarily family-focused, developing a limited online presence can help reach a broader audience and facilitate online acquisitions. Promotional campaigns or social media engagement can direct potential customers to the physical shop.
Step 3
Recommend appropriate human resource strategies for this business
Answer
To optimize the human resources at Hans-Made Watches, several strategies should be considered:
Training and Development
Providing staff with training on product knowledge and customer service can enhance the overall customer experience, which is critical for retaining local clientele.
Flexible Work Hours
Adapting working hours to meet employee needs can improve morale and productivity. Given the shop hours from 8 am to 6 pm, offering flexible shifts or part-time opportunities can be beneficial.
Employee Involvement
Encouraging employee input in business decisions can foster a sense of ownership and commitment, particularly important in a family-run environment. Regular feedback sessions can be implemented to understand employee concerns and suggestions.