Business Report for Financially and Socially - myassignmenthelp

Question: Discuss about theBusiness Report for Financially and Socially. Answer: The possible tenant for rental As per the report and the case study, the possible tenant has been selected based on the decisions that have been taken on after analyzing the survey report that had been conducted. The opinion-based decision has also been extensively studied to understand which of the tenant would contribute more to the mall, both financially and socially. Based on the different factors, the decision of recommending the rentals of the 1000 squares - foot empty store can be allotted to Red Horner Doughnuts. Reasons for consideration General reason The mall has already has product business and service business in its existing tenant list. The only retailer that the mall does not have is a food joint. The mall has a regular amount of footfalls and customers who tend to visit the mall for shopping or availing the services. Yet due to lack of a food joint, they cannot make their stay longer possibly. With the coffee and doughnut joint, people who come to the mall for shopping can sweeten their stay with coffee and doughnuts and have a small bite as well as sip (MacInnis, Park Priester, 2014). Economic reason People who mostly visit the mall are the people staying in the neighborhood and are mostly the blue-collared workers with below average wages. The second groups of customers are the commuters going along the street. To consider the income and expenditure factor, a below average waged worker would possibly spend more on coffee than spend on toys or a haircut frequently. In addition, it can be considered that in average the regular commuters passing by the mall would preferably stop for a bite and coffee sip than buying toys or getting a makeover (Solomon, Russell-Bennett Previte, 2013). The chances of success of a product business or service business are based on the fact of probability. The commuters can stop for buying toys or availing a beauty service but most of the commuters are definitely going to stop for coffee or doughnuts. Therefore, the chances of the Red Horner doughnut making a better business are comparatively higher (Solomon, 2014). Social reasons Most importantly, the decisions have been taken based on the survey done on the regular customers and the tenants of the mall, with a higher number of votes for a food joint. In consideration to the opinion of the customers if the mall opts for the food joint, this might create a positive influence on the customers making them realize their value. In simple terms, the customer value and retention is one of the primary rules of retaining existing customers and making new ones, thus boosting the business (Danesh, Nasab Ling, 2012). References Danesh, S. N., Nasab, S. A., Ling, K. C. (2012). The study of customer satisfaction, customer trust and switching barriers on customer retention in Malaysia hypermarkets.International Journal of business and Management,7(7), 141. MacInnis, D. J., Park, C. W., Priester, J. W. (2014).Handbook of brand relationships. Routledge. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being(Vol. 10). Upper Saddle River, NJ: Prentice Hall. Solomon, M. R., Russell-Bennett, R., Previte, J. (2013).Consumer behaviour: Buying, having, being. Pearson Australia.