An effective way to delve into a particular business area is to talk to representatives of large companies. An essential part of this process is asking questions that allow drawing the necessary conclusions about the companies’ operations. A few of the best questions to consider are:
- How do companies present to their target customer? The fact is that creating a bicycle involves design invention, pricing, and raw material selection. For the industry to develop in-demand designs, managers need to anticipate and double down on the needs of potential customers (Mari, 2020). Consequently, such a question would reveal a company’s logic in creating a product.
- How are the priorities between bike speed and safety? It is essential to understand that the bicycle is a means to get around more quickly and a form of entertainment, for example, for children or adults on a walk (Mari, 2020). Such a question will reveal the weaknesses and strengths of the company’s production.
- For which country or region are the bicycles mainly produced? The fact is that states have a different cultures of leisure. Bikes, for example, are popular in the Netherlands, America, and Russia (Marqués, 2020). In Austria or Portugal, on the contrary, such transport is not in demand (Marqués, 2020). When analytics discover the answer to this question, they can understand what climatic conditions the industry is focusing on based on the geography of the countries.
- What materials are used to make bicycles? Today’s world has many counterparts, such as steel, hard plastic, and carbon fiber. Based on the company’s answer, analytics can compare the cost of production and the product’s final price, thereby revealing the industry’s profit.
- Does the company produce all-purpose bicycles or focus on each type of exploitation separately? Consumers prefer to use bikes for various purposes, from mountain biking to professional sports. By answering this question, analytics can see how well a company uses all possible business areas and whether it can increase its influence.
- How environmentally friendly is the production facility? The critical point is that several bicycle consumers are eco-friendly (Marqués, 2020). Moreover, in today’s world, the harmfulness of production is an essential criterion for maintaining consumer loyalty (Marqués, 2020). By answering this question, the company can indirectly say to what extent it complies with one of the most critical areas of production optimization.
References
Mari, C. (2020). A business history of the bicycle industry. Shaping marketing practices. Springer International Publishing.
Marqués, R. (2020). An analysis of the role of cycling in sustainable urban mobility. The importance of the bicycle. Cambridge Scholars Publisher.