Posted: April 16th, 2015

MULTIVARIATE ANALYSIS AND RECOMMENDATIONS FOR FOCUS STORE ON THEIR CUSTOMER EXPERIENCE .

MULTIVARIATE ANALYSIS AND RECOMMENDATIONS  FOR FOCUS STORE ON THEIR  CUSTOMER EXPERIENCE .

PURPOSE OF PAPER: The multivariable or multivariate analysis is a relatively new and valuable  research technique that  creates   a weighted score for customer experience or other subject based on a measure of customer importance with  a measure for company performance. Its intention is to show what variables warrant major attention by a retailer and how well the retailer is doing in those variables. A multivariate analysis will tell a store how they are doing in what is important to the customer and therefore what should be their main focus.
PART ONE: INTRODUCTION OF AT LEAST 50 WORDS TELLING WHY THIS ASSIGNMENT IS IMPORTANT FOR YOUR FOCUS STORE AND WHAT IS THE PURPOSE OF THE PAPER ( SAME CREDIT SYSTEM AS PREVIOUSLY)
PART TWO ( 7 points ):MULTIVARIATE CHART FOR FOCUS STORE( By Name) AND COMPETITOR(By Name)
SECTION ONE: DEVELOP AND PRESENT A MULTIVARIATE ANALYSIS CHART  FOR YOUR FOCUS STORE AND  COMPETITOR USING THE  EXAMPLE AND FORMAT  OF THE CHART PRESENTED TO YOU IN CLASS  BUT NOT THE  SAME NUMBERS AND NOT  MORE THAN TWO OF THE SAME EXPERIENCE COMPONENT HEADINGS .
The chart must look like the chart presented IN CLASS as far as format,and organization. It must be on its own separate page, fill most of the page and be laid out AND ORGANIZED like the example given you. Pick ten components of customer experience that are not similar to each other and that you feel have an importance level as high as ten to others that can go as low as one in importance . No more than two variables should have the same importance levels. . No more than three  components should have the same performance ratings  on the list for focus store and competitor. All ratings for performance and  importance can range from one to ten..( 5 points)
SECTION TWO: Based on the chart you have created and completed, answer the following question: Based on the multivariate analysis performed for your focus store and competitor, which store is providing the over-all better customer experience. Using  specific numbers  in your answer, tell WHY DO YOU REACH THAT CONCLUSION? (2 points)
PART THREE:  ANALYSIS OF CHART
SECTION ONE Select any five experience components from the chart. Using  the same headings used in the chart and in the order of presentation, give five separate numbered  entries telling why you gave the specific performance ratings  you did to your focus store and then its competitor for each specific component.. ( 5 points)
PART FOUR: FIVE RECOMMENDATIONS FOR YOUR FOCUS STORE.
Make five detailed, properly stated and  numbered recommendations for your focus store using and discussing the NUMERICAL  information in the chart. Each must be numbered from one to five. For each, FIRST  properly state and explain the recommendation and  why you chose the particular experience component  as an area  for making a recommendation. YOU WILL NOT RECEIVE ANY CREDIT FOR YOUR RECOMMENDATION IF IT IS NOT PROPERLY STATED, WISELY CHOSEN  AND DOES NOT PROPERLY USE NUMERICAL INFORMATION  FROM THE CHART.
IT IS CRITICAL  THAT YOU USE THE NUMBERS IN THE CHART TO EXPLAIN WHY YOU CHOSE YOUR RECOMMENDATION AND HOW YOUR  FOCUS STORE WILL BENEFIT BY FOLLOWING IT.  ALWAYS KEEP IN MIND THAT YOU ARE TRYING TO BUILD YOUR FOCUS STORE’S COMPETITIVE ADVANTAGE. A STORE ACHIEVES A COMPETITIVE ADVANTAGE BY BEING STRONG IN WHAT IS IMPORTANT TO ITS TARGET CUSTOMERS…AND THAT IS WHAT THIS PAPER IS ALL ABOUT. (7 points)
*** YOU DO NOT  HAVE TO AND VERY  POSSIBLY SHOULD NOT  USE THE SAME EXPERIENCE COMPONENTS FOR YOUR RECOMMENDATIONS AS YOU DID FOR THE PREVIOUS QUESTION.
ONE EXAMPLE OF A RECOMMENDATION FROM CHART GIVEN YOU THAT FULFILLS REQUIREMENTS
Amy’s Food should institute programs to increase the performance rating of “caring staff” in their store. This may include store meetings on greeting and helping customers  and management observing how staff are doing. Management should help staff do better in this area. This area deserves work  because it has the highest level of importance to customers, which is a ten, and because Amy has a composite score of ten points less compared to its competitor. If Amy could raise its score in this area by two points, it would increase its composite score by 20 points, its total score for experience by 20 points, and get ahead of its competition in the area that is most important to its customers.
PART FIVE: CONCLUSION
In at least 50 words, discuss why you think this analysis has value for your focus store and why they should use it and follow your recommendations ( Like the introduction, there is no credit for doing this right but a deduction for doing it wrong.)
ALL PREVIOUS WRITTEN REQUIREMENTS APPLY, INCLUDING BUT NOT LIMITED TO PROPERLY DETAILED INFORMATION ON VISITS TO FOCUS STORE AND COMPETITOR FOR PURPOSE OF FOCUS PAPER FOUR
All class members are strongly encouraged to show me a copy of their MVA chart on their screens or in  print in the next week before or after class. I will not look at examples of  your chart the same week that the paper is due.
If you have asked opinions of customers for determining ratings of different experience components, it will increase your grade to indicate AND SHOW DETAILS OF  such extra work. Otherwise, make rating decisions based on your best ability to put yourself in the place of the target customer…..AND make reasonable guesses of importance and performance ratings based on the kind of store it is and what target customers are most likely concerned with and looking for.