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List of forums -> Questions and answers. Help. -> HOW TO RAISE STORE REPUTATION???

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Topic created : 2.02.2010, 13:41
lon_wolf19
 
HI,
 

    I have come to understand that the size of the company must correspond to the qualification. But I haven't understood the concept behind store reputation. I have my stores in positive balance(FINALLY!!Yes) and I am about to open some new ones. Lately I saw my competitors, esp. 1 of them having store rep. of around 0.5 . What does that mean???
 
Please help me understand the following:
1. Which media is best for advertising/marketing when one opens a new store?
2. Which will suit if one has cash around 1 m?
3. How long should one invest in marketing?
4. What does efficiency mean(below expenses per week)??
 
Please advise as my main competitor seems to be inching forward with his sales and we both offer products at similar prices.
       Looking forward  for advise from experienced and new players alike.......   

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2.02.2010, 15:14

Last time edited : 2.02.2010, 15:16
yuga_ninjie
Fourteen years with Virtonomics
Six years with Virtonomics
Fourteen years with Virtonomics Belgian chevron Waffle iron Dentist Sandalwood Baobab Sakura Oak
Maple Cedar Elm King of the Fields Golden hook Triple corporate chevron Production: elite Science: bachelor
Management: bachelor Shagreen, VII-XV places Shagreen, IV-VI, places Steel Dumbbell of the Mr. Virtonomics 2011 participant Bachelor of Virtonomics MBA diploma Laboratory assistant’s overall
l:
Yuga_ninjie Ltd.
m:
Onion Corporation
 
lon_wolf19
HI,
 
 
    I have come to understand that the size of the company must correspond to the qualification. But I haven't understood the concept behind store reputation. I have my stores in positive balance(FINALLY!!Yes) and I am about to open some new ones. Lately I saw my competitors, esp. 1 of them having store rep. of around 0.5 . What does that mean???
 
Please help me understand the following:
1. Which media is best for advertising/marketing when one opens a new store?
2. Which will suit if one has cash around 1 m?
3. How long should one invest in marketing?
4. What does efficiency mean(below expenses per week)??
 
Please advise as my main competitor seems to be inching forward with his sales and we both offer products at similar prices.
       Looking forward  for advise from experienced and new players alike.......

Answers:
1. For starter it would be best to advertise in Internet and Press first then just add advertising the next day if your store could take it. Advertising would also depend on the size of the store and the population, sometimes if you advertise to much visitor of your store will increase to its peak and it would affect your efficiency and your sales as well which would result in the decline in income. Just test the water first and adjust if your store could take it.
2. Internet and Press is just small amount of money to spend advertising.
3. Advertising is a long term investment so it means that you should advertise as long as your store is open and has stable income.
4. The efficiency below expenses per week is that how well your advertisement is being sustain. In other words the amount that your spending in advertising is being effective. If your efficiency is less that 100% therefore the amount you put in advertisement is just being wasted, in that case i suggest you decrease the advertisement as soon as you can.
 
GudluckVery we!
 
Note:
By the way do not used ALL CAPS WHEN POSTING it could means that your MAD or you might be missed understood by someone else... Ok 
 

2.02.2010, 16:13
Winner of the Contest for Managers in the nomination Raw Material Base Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination Trade Turnover Winner of the Contest for Managers in the nomination The Standard of Virtonomics Three years with Virtonomics
Four years with Virtonomics Golden Finnish Lion Golden Finnish Lion MBA diploma
m:
Company 2.0
 
Best advertising method depends on size of the store, available cash and qualification.
 
Small stores do not benefit as much from a high advertising spend, I've found it can harm performance as staff requirements can become higher than the maximum amount allowable, as well as increasing expenses significantly.
 
Spending more than you can afford is counter-productive. The idea of marketing is to increase profits so you are best off to work slowly in the beginning.
 
If your qualification is low you won't be able to spend a large amount on marketing without crashing efficiency. As yuga_ninjie said above, advertising at less than 100% is wasteful and could be less beneficial than spending a little less. 
 

2.02.2010, 16:42
lon_wolf19
 
Thanks to Yuga Ninjie and Fractal for their clarity in answers to my problem. But if it ought to be used with bigger stores, to what size the store be if advertising produces positive gains. currently my store size is 500 m2
 
I am earning from each store arnd. 6-8k in profit. Should I indulge in advertising in one of them or should I avoid it altogether?
 
My competitor having store rep. 0.5 and me having store rep. 0 provide products at nearly similar prices. For the purpose of sales and profit whether store rep. plays a decisive role, or is it just another statistic? Also I have observed for last few turns at least that he has started advertising right from the start even when I am outselling in terms of quantity of products in the store(I think so, as I have overtaken him in last 2 turns)
 
At what point should I introduce advertising? I mean what should be the qualification figures corresponding for the positive outcome?  
 
note :  thanks to Yuga Ninjie for reminding me of Forum etiquettes. I will take due care in posting my queries.Yes 
 

2.02.2010, 16:53
yuga_ninjie
Fourteen years with Virtonomics
Six years with Virtonomics
Fourteen years with Virtonomics Belgian chevron Waffle iron Dentist Sandalwood Baobab Sakura Oak
Maple Cedar Elm King of the Fields Golden hook Triple corporate chevron Production: elite Science: bachelor
Management: bachelor Shagreen, VII-XV places Shagreen, IV-VI, places Steel Dumbbell of the Mr. Virtonomics 2011 participant Bachelor of Virtonomics MBA diploma Laboratory assistant’s overall
l:
Yuga_ninjie Ltd.
m:
Onion Corporation
 
I see that your a bit competitive somehow which is good. You have a store which is situated as mine. If you want you could advertise in internet it cost 2k per turn, from their try to monitor if it could generate your store income or note. And its up to you if you want to keep it or not.Very we! 
 

3.02.2010, 02:49
Mike1
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Mico Inc
 
I think the profit is way to low even for a 500 m2 store. I do not recommend to open to many stores but try to expand them by seeing to win the quests (turnover target, customer base target). Most likely, you'll need a 1000m2 store for this and it can be achieved pretty early in the game.
 
Outskirts seem not be a suitable place for selling products above market prices but rather a bit below it! 
 

3.02.2010, 07:08
lon_wolf19
 
Hey it really works!!!Yes I have my store rep. increase from 0 to 1.73 within one dayRidiculously by using internet only.
  Thanks a lot yuga ninjie Very we!
 

        Well thanks for the constructive criticism Mike1, but I have only just now ventured in retailing as i was earlier earning from my farms. Also in the start one does not get a wide array of choices in production of goods as one has to secure the supply lines first and check that if they are reliable. hence I chose cowsheds and poultry, also i have seen many posts in the forum that advice new starters to proceed in that way.
                 Since I do not know how much is high or low in retailing, could give me a rough estimate for the average profits that should be achieved in stores of size 100, 500 and 1000m2 stores? It would really help me setting up a benchmark in estimating and planning my future growth. 
 

3.02.2010, 08:21
eVVe
Six years with Virtonomics
 
People always seems to have a thought;
Mmmm, how much would my cake worth ?
Here you check: Game World>Reports
 

Eating a bigger piece of pie often feel much filling than a small.
If eaten a pie which are bigger than the size of your tummy, you may feel uncomfortable or even felt sick. 
 

3.02.2010, 18:20
lon_wolf19
 
Well it is not that I am greedy but in business one must be aware about where his/her business is heading, whether in real life or in a virtual(like this game) and plan accordingly.
 
 Thanks for reminding that one can check Reports, eVVe but instead of being sarcastic, would you please answer my question about average profits regarding particular store sizes?? 
 

3.02.2010, 19:22
VLLord
Eleven years with Virtonomics For contribution to the development of Virtonomics Golden amphora of Heraklion Golden bed-clothing Standard underwear
m:
Golden Empire
 
lon_wolf19
Since I do not know how much is high or low in retailing, could give me a rough estimate for the average profits that should be achieved in stores of size 100, 500 and 1000m2 stores? It would really help me setting up a benchmark in estimating and planning my future growth.

Two stores with the same size could have very different profit. It depends on store reputation, city, city district, your qualification...
 
Size          Range                  Usually    
100m        10k..10kk             about 100k
500m        100k..30kk           about 1kk
1000m      200k..100kk         about 3kk
10000m     5kk..1kkk             about 30kk 
 

4.02.2010, 22:06
lon_wolf19
 
Oh dear me !!! And here i was rejoicing in earning my puny profitsOops!. Well thanks VLLord for giving me a dose of reality and as well as for providing a sort of benchmark upon which i can project my future earnings. Just one question though, for a store selling food items, are these attainable in early stages?? especially when I am retailing only meat, milk, flour, bread, sugar cubes, and grapes?? 
 

5.02.2010, 08:28
Winner of the Contest for Managers in the nomination Raw Material Base Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination Trade Turnover Winner of the Contest for Managers in the nomination The Standard of Virtonomics Three years with Virtonomics
Four years with Virtonomics Golden Finnish Lion Golden Finnish Lion MBA diploma
m:
Company 2.0
 
I think VLLord's estimates for store profits are more applicable to established stores.
It will take some time for the stores visitor numbers to reach maximum.
 
Plus food items of low quality are generally easy to sell, but very unlikely to set any sales records. 
 

6.02.2010, 14:35
lon_wolf19
 
It is definitely working Very we!. my profit is now up around the 50k range with revenues being above 100k. With store efficiency at 100%, my marketing is going great guns i think even if i am only spending 2000 bucks. Thanks to all of you :   Yuga Ninjie, Fractal, Mike1, VLLord, eVVe
 
my office is also running at 100% eff and same is the case with my animal farms. However, my mill and bakery have an abysmal eff. rate of 12 and 54 % resp. And that is what has pegged me back. I don't know what will be a good time to expand furtherNot so  
 
And to top it off due to these two only, I lost the chance of getting a supermanager I am malicious
 
What should I do to bring back their eff. to resp. (at least ~80-85%). Also I cannot shut them also because the products(Flour and bread) are giving me good deal of cash and are earning ~400 % profit. Should I wait? If no then what alternatives I have ?If no, then please tell me to what time period? Because as far as I have come to know that your office should be at max. eff. then only your management qualification increases fast,when your store has max eff. then your commerce rises fast, when your animal farm has peak eff your stock raising qualification goes up speedily.
 
The above three are going good but my production is going nowhere.
 
Remedy(s) anyone??? 
 

6.02.2010, 14:51
VLLord
Eleven years with Virtonomics For contribution to the development of Virtonomics Golden amphora of Heraklion Golden bed-clothing Standard underwear
m:
Golden Empire
 
To get supermanager you could do:
1. Put 1 worker to mill and 1 to bakery.
2. Wait for ~30m and press link Work efficiency in mill and in bakery.
3. Both last numbers should be 100% - it's your efficiency for tomorrow.
4. If these numbers < 98% then my plan couldn't help, but if these numbers >98% then go to 5.
5. My company->quests->apply to the supermanager and you'll get it tomorrow!
6. Next day after you'll get supermanager you could increase number of workers in your mill and bakery.
  And you'll have no problem with efficiency. 
 

6.02.2010, 15:00
eVVe
Six years with Virtonomics
 
You already answer your own question Well
 
If you want to bring back those grow.... reduce the load for factory.
The optimal grow rate for production is to fully ultise the capacity. 
 

6.02.2010, 17:20
lon_wolf19
 
As far as I can comprehend, my mill's produce is going into the bakery completely. Also, my bakery is producing goods which have quite a demand(as far as i can see from the lists in sales). so what is wrong here? Here I have complete use of raw material(flour), decent demand from my stores and from other players' ,and yet there seems to be low efficiency for both of them. What is the cause?? 
 

List of forums -> Questions and answers. Help.-> HOW TO RAISE STORE REPUTATION???

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