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Key Performance Indicators

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• key performance indicators
- Business planning: Proper planning helps the business to have a clear vision of the future and the objectives that are to be achieved and how those can be achieved. Planning helps the business to know in advance what need to be done and how the problems can be tackled.

- Financial performance: Financial performance need to be tracked and this helps the business to control the finance and use that finance in the most effective and efficient way without wasting it, making it useful for those areas where it is need the most.

- Marketing and customer service: Customer is the king and providing king the best service is the utmost important for the business. Business should keep in mind what the customers expects …show more content…

- Identification of trends: It helps the business to know what is going on in the economy and to do the best to keep up with the trend so that the customers are not attracted to the other business. This helps the business to stay in the eyes of the customers and provide them the best possible items, helping the business to retain the customers and even attract more.

- industry pricing policies: The pricing of the product and services is the most important factor for the business, it should not be more than the competitors and the best efforts should be made to charge less as much as business can without compromising the quality of the products and services.

• monitoring and evaluation methods

- Milestones: Milestones help the business to know that they are moving towards the objectives of the business. Small milestones help the business to track that they are on the right path and if there is any deviation, they are tracked soon and corrected with any possible loss or damage to the …show more content…

This is important factor and the business should always do their best to gain the customer loyalty otherwise business may start to lose their customer and one day may also become liquidated.
• market share
Market share is that factor where everyone wants to expand. Business must take necessary steps in order to do their best to increase their market share this will not only expand their business but also will attract customers for other business eventually increasing their sales and profits.
• overall sales
Sales are the major source of the business to cover their cost and earn profits and using those profits to further expand in the market, because business must always keep on growing. Overall Sales will help the business to analyse and compare it with previous sales and also with the sales of other business to know where they need to improve.
• return on marketing investment in market-based assets
Marketing investment includes a lot of funds and if those funds do not pay back it is a waste investment. So, every business must do proper homework before doing any kind of investment and even then if there are any losses should try to find ways to turn those losses into profits.
• sales force effectiveness,

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