Walmart Collegiate Challenge Winners Announced

PRESS RELEASE      FOR IMMEDIATE RELEASE April 24, 2012

Contact: Dr. James R. Ogden
The Center for Retailing Solutions
Kutztown University
docogden@verizon.net

4/24/2012 Walmart Collegiate Challenge Winners Announced

 

Picture: Grand Prize Team (Penn State – Lehigh Valley): From left to right: Scott Hansman, Sandy DeLeon, Advisor, Dr. Denise T. Ogden (Advisor), Juland Kilpatrick, and Chelsey Kaiser

Kutztown, PA – April 24 - You’ve heard of The Apprentice television series. The Management of the Southeastern PA Walmart Region took that same concept and applied it to a collegiate competition in retailing. The competition involved area college students. The challenge was for the teams to create a plan that focused on sales, profits, and overall, customer experience, and was judged based on the written plan, a store visit, and the presentation of the plan. Students prepared the project during the fall and/or spring semesters and presented their plans at the competition held at Kutztown University on April 18. The competition was co-sponsored by The Center for Retail Solutions (CRS), a non-profit organization whose mission is to bring together retail academicians, students, and practitioners.

“The next generation of business leaders and retail leaders… are in this room,” exclaimed James R. (Doc) Ogden, President of CRS, noting the talent and determination of the participants. The judges of the competition were Tim Smyer, Walmart Market Manager, Jack Gottlieb, President and CEO of Total Solutions Group, Ashish Patel, Walmart Market HR Manager. According to Smyer, “We think presenting students with real business problems and having them develop solutions to those problems will help them bridge the gap between academics and the business world.”

Each winning team received a plaque. The grand prize winner was the Nittany Group from Penn State Lehigh Valley, who received a ‘traveling’ trophy to be housed at their campus until next year’s challenge. These winners also received a $250 Wal-Mart gift card and a personalized coaching and training session for the team from The Total Solutions, Group, Inc.

While the judges deliberated, Walmart representatives spoke to students about their presentations and about opportunities at Walmart. Presenters for this session were Gerrit Bandison, Walmart Regional HR Director, Steve Lauthers, and Britt Roberts-Faulk, both store managers.

The winning teams were as follows: 1st place and grand prize winners – Penn State Lehigh Valley:  Sandy DeLeon, Scott Hansman, Chelsey Kaiser, and Juland Kilpatrick

1st runner up – Kutztown University:  Steve Aadsen, Ashley Anderson, Nicole Hawxhurst, and Brett Kichline

2nd runner up – Penn State Lehigh Valley:  Ashley Meng and Rodney Santiago

3rd runner up – Penn State Berks:  Eric R. Augustine, Xin Yu Bi, Scott Caldwell, Chia Y. Wyu

Upon conclusion of the awards ceremony, it was announced that the Collegiate Challenge will run every year with a different sponsor.

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Maximize Your Feedback

In order to distinguish your good ideas from your bad ones (face it- no one’s perfect), you have to be able to do so in a cost efficient manner. How? Well, according to an article from Inc., there are a few ways to capitalize on what your customers have to say.

Gathering customer opinions can be a helpful process for keeping your business afloat. By taking your customers’ feedback, you can use it to make the changes they’re asking for while keeping the things they like exactly how they are. After all, some customers are more than happy to tell you what you’re doing right and wrong, so you should be wise enough to listen.

You can read more here in the article from Inc.

Pricing Proficiently

When you come up with a new product, it’s imperative that you focus on its price.  After all, if it’s something that a lot of people want, then you want to make sure you maximize your profitability.  According to an article from Entrepreneur, there are a few essential things to remember when determining the price of any product.

Pricing shouldn’t be difficult, especially if you are familiar with the market your product is targeting.  However, it is important find a good balance between what you’re willing to ask for, and how much customers are willing to pay.  Also, remember that making a product that everyone will want doesn’t mean that everyone will buy one.

You can read more here in the article from Entrepreneur.

Service with a Smile, and Then Some

As with any business, especially in retailing, your service methods are an integral part of your business plan that can make or break the relationship between you and your customers.  Therefore, it's up to you to do everything in your power to ensure that they are getting what they want, and when they want it (within reason).  Perhaps this article from Inc. can serve you some guidance.

Without customers, you'd probably go out of business very quickly.  By treating your customers the right way, you can avoid such an inevitable fact.  Remember- first impressions are crucial in any business environment.

You can read more here in the article from Inc.

Reward Your Customers

With the economy in its current state, some companies are taking it upon themselves to create reward programs or bonus cards for their customers to keep them coming back.  For instance, some groceries stores offer exclusive deals to customers with their bonus cards.  Gas station bonus cards can offer a few cents off per gallon of gasoline.  Airlines have frequent flier miles.  The possibilities are endless.

Well, why not you?  Maybe you think you don’t need one, but when your customers hear or read the word ‘rewards,’ then they’re bound to give you the time of day.  However, if you’re going to create a rewards program, just make sure you do it correctly.  This article from Mashable can help you do so.

http://mashable.com/2012/04/05/customer-loyalty-program-tips/

Facebook Friendly

Even though you may run a small business or store, there's no reason why you shouldn't try to reach out to a larger audience.  According to an article from Entrepreneur, one way to do that is with Facebook.  Even though it's been around since 2004, and while you may or may not have one, it's important to realize (and remember) that Facebook gives small business owners a chance to engage in customer service matters.  Whether you're sending or receiving a message, Facebook is an excellent platform on which you can do both.  With Facebook, you can easily get your customers involved, and give them a voice of their own.

It’s important in any business to be willing and able to communicate with your customers.  By giving them a method which they can easily use to communicate questions, comments, or concerns, you also give yourself a chance to establish credibility, and build and improve your reputation.

You can read more here in the article from Entrepreneur.

http://www.entrepreneur.com/blog/223340

Lead the Way to Sales

Finding sales leads isn't always easy.  It can be a difficult process that amounts to satisfying results.  With so many ways to branch out to new customers and hold onto current ones, such as numerous social media outlets, it's still the results part that is often in question.  According to an article from Entrepreneur, there are a few steps you might not have thought of that you can take to increase your sales.  Some of the steps you may have already taken, while others may surprise you.

By following these steps, you allow and encourage current customers to stay, and give new customers opportunities to support your business.  As with anything you do in life, you never know what to experience when you try something new, and the business world is no different.  Therefore, it would be in your best interest to leave no stone unturned.  Your business will thank you.

You can read more here in the article from Entrepreneur.

http://www.entrepreneur.com/article/223129

Customer Insight

Customers know best when it comes to getting what they want out of a product.  What they may not know, however, is what products to invest in, especially when several different products all offer the same thing (ex. all cars get you from A to B).  This is where you come in.  According to an article from New Frontier, if you want your customers to choose your business over the competition, then you must utilize your customer's needs, and convey them in a way that will make your customers not only buy your product, but give them a reason to as well.

Therefore, you must market your products in a way that will make them appeal to unsuspecting customers.  By simply exploiting your customers' expectations of their desired products and services, they're getting what they want, and so are you.  It's a win-win.

You can read more here in the article from New Frontier.

http://www.newfrontierllc.com/blog/bid/128296/Small-Business-Marketing-5-Ways-to-Blow-The-Competition-Away-With-A-Consumer-Insight

Students Win Big at Walmart Challenge

Kutztown, Pa – The Center for Retailing Solutions (CRS) in conjunction with Walmart sponsored the 1st Walmart Collegiate Challenge.  Student teams from area colleges came to Kutztown on Wednesday, April 18, 2012 to deliver their presentations and find out if their team made it to the winner’s circle.  Dr. James Ogden, a business professor at Kutztown University and President of the CRS emceed the event.  Teams from Kutztown University, Penn State Berks, and Penn State Lehigh Valley competed.  Each school was allowed a maximum of three teams.  The challenge was for the teams to create a plan that focuses on sales, profits, and overall, customer experience, and was judged based on three categories:  the written plan, the store visit, and the presentation of the plan.

Each winning team received a plaque.  The grand prize winner was the Nittany Group from Penn State Lehigh Valley, who received a ‘traveling’ trophy to be housed at Penn State Lehigh Valley until next year’s challenge. These winners also received a $250 Walmart gift card and a personalized coaching and training session for the team from The Total Solutions, Group, Inc. 

The 1^st runners up were from Kutztown (Team 3).  2^nd runners up were from Penn State Lehigh Valley (Nittany Lion Consulting).  Finally the 3^rd runners up were from Penn State Berks. 

“The next generation of business leaders and retail leaders… are in this room,” exclaimed Ogden, noting the talent and determination of the participants.  The judges were Tim Smyer, Walmart Market Manager, Jack Gottlieb, President and CEO of Total Solutions Group, Ashish Patel and Walmart Market HR Manager.  While the judges deliberated, Walmart representatives spoke to students about their presentations and about opportunities at Walmart.  Presenters for this session were Gerrit Bandison, Walmart Regional HR Director, Steve Lauthers, and Britt Roberts-Faulk, both store managers.

Sell! Sell! Sell!

Regardless of what business you're in, there's one skill you need to thrive and survive:  sales skills.  Now, "sales skills" doesn't strictly apply to selling products and services.  It also applies to how you conduct yourself on a daily basis.  You must be able to 'sell' yourself, that is your skills and personality, to prospective employers, coworkers, and customers alike.  Otherwise, they won't know what you offer, what you're capable of, or what you can do for them.

If you can't sell yourself, then you probably can't sell anything else for that matter.  You must be able to pitch yourself before you attempt anything else.  If you can, several opportunities will arise, and all you have to do is be yourself. 

You can read more in the article from Inc. here.

http://www.inc.com/jeff-haden/the-one-thing-every-successful-person-does-well.html

Please Hold

Customer service is an essential component of any business, but it’s often one that isn’t taken very seriously, mostly because we just hope and/or assume that our business is perfect, and nothing can or will go wrong, right?  Wrong.  Sure, you may have a great product or service, but to achieve perfection would take an insurmountable miracle.  Therefore, customer service is something you want to develop and expand, if you haven’t already done so.  If a customer has a problem, question, or even a comment, why would you make them wait so long to hear it?


Putting someone on hold for more than say, one minute, is not only annoying and disrespectful, it also reflects on a company’s communication skills (or lack thereof).  On the other hand, talking to someone directly means you must put on your happy face, even if no one will see it.  You can’t appear miserable and expect to solve other people’s problems; in turn, it will only create more problems.  Also, you can receive feedback online, you just have to make sure that you attend to it weekly, daily, or even hourly.  Sure, you might run your own business, but in your own right, aren’t you a customer too?  You can’t forget about customer service.  After all, since you have customers, they didn't forget about you.

Here is an article from Lifehacker that features some helpful tips for all your customer service need.

http://lifehacker.com/5899839/use-these-customer-service-shortcuts-to-stop-wasting-time-waiting-for-help

Money Via Mobility

Since the UPC (Universal Product Code) first hit shelves in 1974, we have been looking to develop more and more ways to easily track finances, including sales and expenses alike.  An article from Retailing Today emphasizes that electronic payments are on their way to becoming a mainstay in today’s retail market.  With the new mobile payments found on most smartphones, it’s no surprise that electronic payments have become much more convenient than dollar bills and coins, and paper checks.  Nowadays, you can just swipe your card through the card reader on your vendor’s smartphone, such as Square, or PayPal Here.  You can take 2 pictures of a check (front and back) using check deposit apps, and the money gets directly deposited right into your bank account.  My, how far we’ve come!

Yes, cash and paper checks work just as well (though some purchases are far too large for you to be able to pay in cash), but with the ever-evolving demand for quicker ways to do anything and everything under the sun, and our constant need to go, methods such as these should not go ignored.  Plus, if your customer needs to just go, then helping them get on their way sooner can also help bolster your customer service, as well as your reputation.

You can read more here in the article from Retailing Today.

http://www.retailingtoday.com/article/future-electronic-payments?ad=news

Psych Sales

Earning revenue can be tricky sometimes.  On the contrary, sometimes it can be easy if you trick your customers.  Don’t worry- you’re not ripping them off, rather, they’re getting a good deal, they just don’t know it yet.  An article from Inc. discusses a few simple yet ingenious steps to alter your customer’s thought process to becoming more willing to do business with you.  These steps can mean the difference between another person who’s “just browsing,” and one who’s ready to become a new,
reliable customer.

Giving customers what they unknowingly want can be a very successful venture (ex. Taco Bell’s Dorito Locos Taco).  It can take just a few aesthetic yet subtle changes to make a big difference, and your customers will thank you without even realizing it (which was your plan all along).

You can read the entire article from Inc. here.

http://www.inc.com/caitlin-berens/roger-dooley-brain-tricks.html

Employee Engagement

In retailing, it’s essential to connect with your customers.  Social media seems to be the way of the future, but face to face interactions shouldn’t be left out in the cold.  However, though less common, connecting with your employees is just as important.  The problem is that your employees don’t always have access to their phones or computers; they could very well be doing their jobs.  Therefore, not everyone will be able to read or respond to a message you’ve sent them, so it’s up to you to find a way around that.

Studies have shown that employee interaction can prove beneficial to any business, and in retailing, that translates to increased sales.  You just have to figure out how to do it effectively, and when you do, your employees will thank you.

You can read more about it here in an article from Retailing Today.

http://www.retailingtoday.com/article/employee-engagement-social-media-world