Which factor is more important?

May 13, 2009 · Filed Under Opinion · 4 Comments 

While establishing a new business or thinking of revamping an old one, it is essential to run through a list of factors that can be used as strengths for the business.

Although each of the factors will be instrumental in determining the success of the business, some factors are over-rated while some are unjustifiably not paid much attention.

For example: To me, the factors of reliability and stability far outweigh the factors of product and price.

A classic example is the McDonalds burger, while the product is not culinary genius (though the price is competitive), what makes me go back is the stability and reliability of the food I get there. I do not have to rack my mind over a lengthy ever changing menu, and I know that the food will have a consistent flavour profile, despite changes in the kitchen – perfect for a fast food joint.

Of the top of my mind, I can think of the following factors that should be considered for a fast food joint, which of these will you give more importance over the others and why? ( Do include factors that I may have missed out)

1. Product

2. Price

3. Quality

4. Selection

5. Service

6. Reliability

7. Stability

8. Location

9. Appearance

10. Expertise

11. Advertising

12. Image

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