Monday, November 28, 2011

INDIA'S MISTERY SHOPPERS...NEW EXTERNAL AUDIT MECHANISIM

Stiff competition on the streets among consumers has leaded every business to sales its products under various non festive promotional offers. So many brands and so many choices has lead consumers to choose from a wide variety of choices whereas companies has to face tough competition on the streets to sale their products. Online shopping has also been introduced in those places where it was not imagined once upon a time. Every company has kept no stone unturned for reaching to the doorstep of consumer in order to increase its sale. Business managers sit long hours to develop and find strategies which will push up their bonuses next year and year on year. We find market survey being conducted by companies to find their product values and consumer preferences and choices from time to time. This has helped companies to cut back on less demanded products and to develop new products matching with the consumer demand.

In an recent note it is being observed and practiced by many companies the application of mystery shopping. Now this stands to be an unique proposition in the product market. Mystery shopping is method through which the business owners evaluate the worth of the products or services offered by them. This shopping proposition is being applied in every consumer enjoyed product segments. From retail stores, caf├ęs, shops, hotels, banks, mobile stores or any other business providing product or services mystery shopping is being adopted.
In Mystery shopping a person who acts as a mystery shopper visits a store, survey the product or service they offer, analyze the quality of services provided, their way of dealing with the customer and provides all this information to the company. It helps the management to identify how the practical process of selling is improving the companies product value and its revenue too. This new mechanism has been applied since even despite of giving non festive offers product sales has not picked up for the respective companies dealing in that product segment.

Infact non festive offers are not the real players behind a product sale. Much of the game responsibility lies on the retail outlets or the departmental store and their managers who deal with them. The companies place a checking system on the employees or the departmental stores behind recommendation of products to the consumers. In most cases its being observed that sales people have less knowledge about an new product which finally leads to drop in sales or hindrance behind the growth of the new born product baby.

The query of the consumers is being left unanswered leading to drop out of the product by the consumer. This is way behind the market survey process. This is one of the most advanced mechanisms which help the company to identify its loops and design its strategies from the traditional process of offers. Companies are shifting their focus from prices sensitivity zone to value zone where special orientation and new product launches knowledge’s are being shared with the sales guys. Detail product features are being shared with retail outlets and departmental store fellows since they are the ones who play the main game behind a product success.

Mystery shopping stands to be one of the effective ways of external control system which is a part of the Auditors professions. Management comes to know from these type of external standards the loopholes in the system. Today the profession of Audit is no longer restricted to internal system. We are equally identifying external audit measures for growth of an business.

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