Importance-Performance Analysis: The Cosmos

The Cosmos is a fast food restaurant based in Chicago, Illinois, the U.S.A. The restaurant is one among many franchises in the country, which shows that it is a fairly well-established company. It specializes in the sale of grilled chicken and beef, sandwiches, burgers, salads, and hot and cold beverages. I work in the hotel's branch in Chicago as an assistant sales and marketing director. As an employee in this department, I am required to ensure that the company is meeting is set target and competing favorably in terms of product promotion and brand popularity. At present, there are various challenges facing the company in terms of sales and marketing. One of the issues is increasing competition from rival firms, which leaves the firm in …show more content…
The article conveys that in the recent past, performance analysis has gained increasing importance in managerial competence and has become the most popular tool among business managers. The usefulness of this strategy is exemplified by the fact that it highlights the importance of conducting a regular evaluation of the business's strengths and weaknesses of a brand and products. Since Cosmos is a service company, there is need to continually evaluate the business performance to ensure that it is aligned with the existing trends in the market. Essentially, consumers’ preferences keep changing over time, and, therefore, a company cannot use the same customer approaches. Keyt et al. express that service companies and retail establishments need to continually assess their markets in order to gain insight into the criteria that customers reuse to inform their purchasing choices. This is information that the corporate body of The Cosmos needs to be aware of, especially now when the company is facing fierce and continually increasing …show more content…
Essentially, the ultimate goal of any service industry is to appeal to customers and encourage them to make repeat purchases. There is no better way of touching a consumer than speaking to all of his or her bodily senses since in so doing, she becomes fully interested in and attached to the product (Kleinová et al. 6). In fact, the study conducted by the above authors shows that the more senses that a product or marketing strategy engages, the more people will respond to the business' operation and make more repeat purchases. This idea is perfectly suited for the restaurant industry, given that in this sector, restaurants present their services in a way that maximizes their ability to grab the customers’