Question

The CEO of Kwikee Shoppe, a chain of convenience stores, believes that some of his managers aren’t making decisions as effectively as they could. He has hired you as a consultant to analyze the types of bias that could be causing poor decisions. If you can identify the biases that may cloud their judgment, then they can be made aware of these tendencies so they can improve their performance. You gather data about Kwikee Shoppe managers’ most recent decisions.

What could Eloise do to overcome this bias?

a. Wait another month or two before making any decisions
b. Research the sales of organic products and popularity of smartphone payment systems to determine what impact each would have on the store’s profits
c. Consult with other stores that have not started selling organic chips or converted their cash registers
d. Instead of offering organic chips, consider other alternatives such as gluten-free, veggie chips, or soy chips

Answer 1

Answer and Explanation:

To answer this question of Bias Decision making, the CEO of the store can benefit by allowing the consultant (me) to choose option B.

When understanding the marketing strategies and consumer behavior in today's world we get to know that the seller's market has disappeared and the buyers market has risen.

Research analysis allows us to collect Data and perform a thorough analysis on the selling and buying environments that includes profit and loss, and the terms "consumer", "customer", "industrial buyer" and "motives".

Consumer and industrial decision making process and Bias rules.

Marketing implications on consumer behavior.

b. Research the sales of organic products and popularity of smartphone payment systems to determine what impact each would have on the store’s profits

Organic products

The market for organic food and beverages has undergone a huge expansion and change over the years.

People have started to buy organic products since they know the word "organic" means safe from all the chemicals.

So, the growth of organic shops have expanded which in tern means a great increase in sales volumes.

Smartphone payment systems

Popularity of smartphone payment systems to determine what impacts the store’s profits since a lot of people nowadays seem to be following the cashless payment trend.

One will no longer need to carry cash, plastic cards, or even queue up for ATM withdrawals. It’s also a safer and easier spending option when you are traveling.

In general this method is followed at convenience and is also user friendly providing discounts and other benefits.

So , i would suggest to know how both the organic and smartphone payment systems both work and by doing so we can correct the decisions made and also provide guidance to the store managers in order for them to perform better.