THIS UNIT MAINLY DEALS WITH THE VITAL ASPECTS OF SERVICE DELIVERY, PRICING AND PROMOTIONAL TOOLS, WHICH IS ESSENTIAL FOR A BUSINESS TO SURVIVE IN THE ,MARKET ARENA.
This document discusses customer relationship management (CRM). It defines CRM as creating and enhancing individualized customer relationships to maximize lifetime customer value. CRM originated in the 1970s to deal with customer relationships beyond individual business transactions. The purpose of CRM is to create value for both customers and companies over the long term by providing good customer service and gaining a competitive advantage. CRM involves acquiring, retaining, understanding, and differentiating customers through interactions and delivering on their needs over the business cycle. The benefits of CRM include reduced costs, increased customer satisfaction and retention, and long term profitability.
The document summarizes key aspects of service design and waiting line analysis. It discusses the growing service economy and characteristics of services. The service design process involves defining a service concept and package. Tools for design include service blueprints and waiting line models. Waiting line models analyze factors like arrival rates, service times, and number of servers. Having multiple servers can reduce wait times compared to a single server.
There are four types of CRM: operational CRM, analytical CRM, collaborative CRM, and front office and back office CRM. Operational CRM differentiates customers based on economic value and expectations. Analytical CRM analyzes customer buying behavior. Collaborative CRM allows different departments to share customer information to improve customer service and satisfaction. Front office CRM manages customer touchpoints while back office CRM uses data and intelligence to gain customer knowledge.
The document discusses customer expectations of service quality. It begins by defining the different types of expectations customers can have - from ideal expectations where they want the best possible service, to acceptable expectations where they expect adequate service, to minimum tolerable expectations. It then discusses the factors that influence the formation of customer expectations, such as word of mouth, past experiences, and personal needs. Meeting or exceeding customer expectations is key to delivering good quality service. Managing customer expectations is the first step for companies.
This document discusses service quality and its key aspects. It defines service quality as a customer's judgment of the overall excellence of a service in relation to their expectations. It outlines five dimensions of service quality - reliability, responsiveness, assurance, empathy and tangibles. It also discusses the service quality gap model, which identifies five gaps between customer expectations and perceptions: marketing research, design, conformance, communication, and expectations-perceptions. The document provides solutions to minimize these gaps and improve overall service quality.
The document provides an overview of services marketing concepts including:
1) It defines services and identifies key differences between goods and services such as intangibility, perishability, and simultaneous production and consumption.
2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
Integrated service marketing communication with exampleRadhika Venkat
This presentation covers the integrated service marketing communication tools and as well as the role of communication tools for service industry.
It also covers the example relating the successful mix of communication for HOTEL MARISOL.
Customer relationship management unit 1 introductionGanesha Pandian
The document discusses customer relationship management (CRM). It defines CRM as a business strategy focused on identifying and building loyalty with profitable customers. CRM has evolved from functional approaches like sales automation to more strategic approaches. Relationship marketing aims to create long-term partnerships rather than isolated transactions. CRM provides benefits like increased revenue, customer retention, and knowledge. It requires organizational support and changes business processes to focus on customer needs.
This document discusses different methods for distributing services, including direct delivery by the service producer and delivery through intermediaries. Direct delivery allows the service producer to directly provide services to customers but intermediaries like franchises, agents, and brokers also deliver services using processes developed by the producer. Common intermediaries are franchises, which license a service format, and agents or brokers who connect buyers and sellers. Electronic channels provide an alternative to direct human interaction for service distribution.
The document summarizes key aspects of customer behavior in service marketing. It discusses how consumers seek, choose, purchase, experience, and evaluate services. It outlines the three stages of the consumer decision making process - pre-purchase, service encounter, and post-purchase stages. It also categorizes services into four types based on whether the service act is tangible or intangible and whether people or possessions are the direct recipient. Finally, it examines factors that influence customer expectations and satisfaction during the different stages.
This is a compilation of introductory notes on Service Marketing with emphasis on meaning, evolution, universal nature of services, challenges to delivering services and finally basic insights into 7Ps of marketing from the perspectives of marketing of services.
This document discusses achieving service recovery and obtaining customer feedback. It outlines components of an effective service recovery system such as doing the job right the first time, effective complaint handling, and learning from recoveries. It also discusses customer complaining behaviors, service guarantees, and dealing with abusive customer behaviors. Key points covered include understanding why and how customers complain, designing service guarantees, discouraging customer fraud, and creating institutionalized learning from customer feedback.
The document discusses key concepts in service marketing including defining services, characteristics of services, classifications of services, the service marketing triangle, and challenges in managing service quality. It provides an overview of factors that influence the growth of the service sector and how marketing of services has evolved to focus more on areas like segmentation, customer satisfaction, and quality assurance.
Service Positioning
After a service strategy has been identified, a company must decide how to position its product most effectively. The concept of positioning involves establishing a distinctive place in the minds of target customers relative to competing products.
In “The New Positioning: The Latest on the World's #1 Business Strategy”, Jack Trout distills the essence of positioning into the following four principles
1. A company must establish a position in the minds of its targeted customers.
2. The position should be singular, providing one simple and consistent message.
3. The position must set a company apart from its competitors.
4. A company cannot be all things to all people—it must focus its efforts.
Positioning and Marketing Strategy
Companies use positioning strategies to distinguish their services from competitors and to design communications that convey their desired position to customers and prospects in the chosen market segments. There are a number of different dimensions around which positioning strategies can be developed.
In this presentation, we will discuss the marketing procedure in the services, how to organize marketing planning and analyze marketing opportunities. We will also talk about the selection process of target market, developing the service marketing mix and managing marketing effort.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This document discusses various perspectives on strategy and strategic human resource management. It provides definitions of strategy from several scholars, such as Mintzberg, Quinn and Purcell. It also defines strategic management and strategic HRM. The document outlines different types of strategies, including business, operations and resource strategies. It discusses the role of HR in strategy formulation and implementation. Finally, it presents models of strategic HRM and discusses advantages and disadvantages of taking a strategic approach to HRM.
In this presentation, we will discuss about the concept and definition of physical distribution, defining logistics, relation with other marketing mix variables. We will also talk about the objectives of physical distribution process, components of physical distribution, warehousing, inventory management and control.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
This document discusses consumer behavior in services. It covers several key topics:
1. It outlines the three stages of consumer decision making in services - the prepurchase, service encounter, and post-encounter stages. It describes the factors that influence expectations at each stage.
2. It introduces the concept of a "servuction system" which models a service business as an integrated system involving marketing, operations, and customers. It describes the key components of the servuction system.
3. It discusses the differences between high-contact and low-contact services and how they interact with customers at different points in the servuction system like service operations, delivery, and other contact points.
This document discusses service encounters from a lecture presented by Dr. Niraj Chaudhari. It defines a service encounter as the initial interaction between a customer and service provider. More than half of multinational corporations are involved in providing services, making the study of service encounters increasingly important. The document goes on to discuss the triad of a service encounter, its characteristics, types, elements, and the role of technology. It also examines self-service, customer-dominated encounters, contact personnel-dominated encounters, and service organization-dominated encounters. Finally, it briefly mentions the functions, models, control, and design of service organizations.
This document outlines a service strategy prepared by three individuals. It discusses formulating a strategic service vision by determining the target market, service concept, operating strategy, and delivery system. It also covers understanding the competitive environment of services, generic competitive service strategies of cost leadership, differentiation and focus. Additional topics include winning customers in the marketplace, the competitive role of information in services, categorizing service firms by their stage of competitiveness, and conducting a data envelopment analysis.
The document provides an overview and analysis of the Indian insurance industry in 2022-23. It discusses topics like market size and growth rates, penetration and density, the different insurance segments (life, general, health), distribution channels, regulatory landscape, emerging technologies, customer behavior, competition, challenges and opportunities, and the future outlook. Key metrics and quarterly performance are presented for various quarters. The presentation highlights areas of growth and business opportunities in the insurance sector.
Delivering Customer Centric Transformation Projects in the Australian Public ...Mike Khan
Successful delivery of Customer Centric Transformation (CCT) projects requires public sector organisations to address each of the five core principles of CCT, namely, 1. Listen to your customers; 2. Break down the silos; 3. Enable a multi-channel service experience; 4. Continuously improve through customer feedback; and 5. Set customer centric service standards.
These core principles must be delivered in a cohesive and balanced way, while considering the implementation considerations as underpinning these, rather than adopting a piecemeal approach to change initiatives.
Amazon shows us how this is done. It truly excels in this area. It innovates in everything it does, not just technology. It is never afraid to experiment and can get things done quickly, thanks to the culture instilled by CEO, Jeff Bezos. This is why Amazon has become the key player in web services, where it still dominates Google’s and Microsoft's cloud services units. Its e-commerce operation also continues to outpace most retailers globally.
SQ Lecture Ten - Improving Service Quality and Productivity (Ch 14)SQAdvisor
This document provides an overview and summary of Chapter 14 from a marketing textbook. The chapter discusses improving service quality and productivity. It covers integrating quality and productivity strategies, defining service quality, using the GAP model to identify quality problems, measuring quality, learning from customer feedback, analyzing quality issues, return on quality, defining and measuring productivity, and improving productivity. The chapter provides frameworks and tools to help firms enhance both service quality and productivity.
THE STRATEGIC BUSINESS MODEL CANVAS DESCRIBES THE CORRELATIONS BETWEEN THE COMPONENTS OF OUR STRATEGY. A JOURNEY FROM OUR CURRENT [TRANSIENT] COMPETITIVE ADVANTAGE TOWARDS THE STRATEGIC DESTINATION, WHERE OUR NEW [TRANSIENT] COMPETITIVE ADVANTAGE WILL BECOME EFFECTIVE.
This document discusses strategies for dealing with the inseparability of services, which refers to services being created, delivered, and consumed simultaneously through interaction between customers and service providers. The three key strategies discussed are: 1) Build membership relationships to develop ongoing relationships between organizations and customers; 2) Personalize services by becoming familiar with individual customer needs; 3) Provide sensitivity training so service staff can deliver services at the right time, place, and way with individual attention during interactions.
This document provides an overview of key concepts in services marketing. It begins with defining services marketing and outlining its characteristics. It then discusses the evaluation and growth of the service sector. Key topics covered include the nature and classification of services, challenges in services marketing, assessing market potential, and the marketing mix. The document also examines segments like service design, delivery, pricing, promotion, and strategies for different industries like healthcare, hospitality, and tourism.
The document discusses key concepts in services marketing. It begins by defining a service and the characteristics of services marketing. It then covers the growth and classification of the service sector. Some of the main challenges in services marketing are the intangible and perishable nature of services. The document also examines aspects of service design such as the service lifecycle, developing new services through tools like service blueprints, and identifying gaps in service quality.
The document discusses how OSS/BSS solutions can help telecom service providers maintain a competitive advantage by improving operational efficiency and differentiation. It describes how OSS solutions allow for improved revenue strategies through better customer acquisition and retention by enabling new service launches, accurate billing, reduced time lags, and quality of service management. The document also discusses planning differentiation across multiple levels from business to network, and analyzing costs and benefits to build a business case for OSS solutions.
Redefine the Delivery of Financial Services Journeys That Clients LOVE! [inQu...Antony Adelaar
This is the slideware used in a live inQuba & Microsoft webinar hosted on the 23rd of September 2020.
Recording here: https://youtu.be/J89zWhnpCb4
Do you want to learn how to use digital platforms in the FSI industry to stay relevant to your customers in the Digital Economy?
Join inQuba MD, Trent Rossini, and Microsoft FSI Sales Lead, Servaas Venter, in an upcoming webinar, where you’ll learn:
• When and why customers are likely to lapse
• How to nudge customers to achieve their signup goals
• The actions you can take to retain high risk customers
• How to obtain continuous customer feedback during their journey
• How to augment your legacy systems with modern digital platforms
• How to kick off conversion and retention programmes for your customers
Learn how to redefine the delivery of Financial Services client journeys that customers LOVE!
Supply Chain Management and OM in business model cc tan (2015)C.C. Dr. Tan
These slides demonstrate the alignment, adaptability and agility concepts of SCM and OM in business model framework - aligning the various functions of business organization, i.e. financial, operations, outsourcing, SCM, etc.
Service Marketing
Services are deeds,processes and performance
Intangible, but may have a tangible component
Generally produced and consumed at the same time
Need to distinguish between SERVICE and CUSTOMER SERVICE
IAQF_2015_TRIGO_Role of 3PQServiceProvidersinSupplyChainAttila Vass
This document discusses how quality service providers can optimize their added value in the automotive supply chain. It defines key differences between a supply chain, which focuses on pragmatic metrics like cost and delivery, and a value chain, which considers broader factors like reputation and perceived quality. Quality service providers can play several roles across multiple levels of the complex automotive supply chain. By integrating service providers, companies can help standardize quality practices, eliminate redundancies, and realize cost savings across their globalized multi-tiered networks.
This document covers key concepts in supply chain management including strategic fit, competitive priorities, and achieving alignment between customer demand and supply chain responsiveness. It discusses mapping customers' implied demand uncertainty and a supply chain's cost-responsiveness capabilities. Strategic fit is achieved by matching supply chain responsiveness to implied demand uncertainty. The document also addresses challenges to strategic fit, e-commerce strategies, and drivers of supply chain performance like inventory, transportation and facilities.
THE STRATEGIC BUSINESS MODEL CANVAS DESCRIBES THE CORRELATIONS BETWEEN THE COMPONENTS OF THE STRATEGY.
A JOURNEY FROM THE CURRENT STATUS TOWARDS THE STRATEGIC DESTINATION, WHERE THE NEW TRANSIENT COMPETITIVE ADVANTAGE WILL BECOME EFFECTIVE.
THE STRATEGIC [CORPORATE] GOALS ARE THE KEY QUANTIFIERS OF STRATEGY’S SUCCESS ALONG THE STRATEGIC HORIZON. THEY REPRESENT THE WINNING ASPIRATIONS.
THE STRATEGIC CHOICES DEFINE THE STRATEGIC POSITIONING.
THEY ARE GROUPED IN TWO BUILDING BLOCKS:
- VP VALUE PROPOSITION (‘HOW-TO-WIN’)
- MB MARKET BOUNDARIES (‘WHERE-TO-PLAY’)
EACH MAJOR PRODUCT/SERVICE LINE OF A COMPANY REQUIRES A SPECIFIC STRATEGIC CHOICES MIX (VP + MB), BECAUSE THE STRATEGIC POSITIONING MAY BE DIFFERENT FOR EACH PRODUCT/SERVICE LINE.
THE CORE CAPABILITIES ARE THE ESSENTIAL CAPABILITIES REQUIRED TO SUPPORT THE STRATEGIC POSITIONING.
THERE ARE 8 CORE CAPABILITIES BUILDING BLOCKS. THEIR COMPONENTS ARE CORRELATED WITH THE STRATEGIC CHOICES THAT THEY ARE SUPPORTING.
THE STRATEGIC GOALS ARE ACCOMPLISHED AS A RESULT OF SUCCESSFULLY CHANGING THE CURRENT STRATEGIC POSITIONING INTO THE NEW STRATEGIC POSITIONING,
DEFINED FOR THE STRATEGIC DESTINATION.
THAT CAN BE DONE ONLY BY DEVELOPING OR ENHANCING THE REQUIRED SET OF SUPPORTING CORE CAPABILITIES.
SO, WE MOVE FROM A CURRENT STRATEGIC BUSINESS MODEL TO A NEW STRATEGIC BUSINESS MODEL,
WHICH WILL BECOME FULLY EFFECTIVE AT THE STRATEGIC DESTINATION.
THE 10 BUILDING BLOCKS OF THE
STRATEGIC BUSINESS MODEL CANVAS:
- 2 STRATEGIC CHOICES BUILDING BLOCKS
- 8 CORE CAPABILITIES BUILDING BLOCKS
INSIDE EACH STRATEGIC CHOICES BUILDING BLOCK
THERE ARE 10 CHOICE ITEMS.
INSIDE EACH CORE CAPABILITIES BUILDING BLOCK THERE ARE 7-12 CAPABILITY ITEMS (CORE CAPABILITIES OR CORE CAPABILITY COMPONENTS).
THE STRATEGIC BUSINESS MODEL CANVAS INCLUDES A SET OF DEFAULT CAPABILITY ITEMS. YOU SHOULD CUSTOMIZE THEM TO YOU SPECIFICS.
SOURCE REFERENCE:
“PLAYING TO WIN” – ROGER L. MARTIN & A.G. LAFLEY
“THE DELTA MODEL” – ARNOLDO C. HAX
“BLUE OCEAN STRATEGY” – W. CHAN KIM & RENEE MAUBORGNE
“THE INNOVATOR’S DILEMMA” – CLAYTON M. CHRISTENSEN
“GOOD STRATEGY / BAD STRATEGY” – RICHARD RUMELT
“CAPABILITIES-DRIVEN STRATEGY” – STRATEGY& / PwC
“COMPETITIVE ADVANTAGE” – MICHAEL E. PORTER
“BUSINESS MODEL GENERATION” – ALEXANDER OSTWERWALDER
“THE END OF COMPETITIVE ADVANTAGE”– RITA GUNTHER McGRATH
FOR A COPY OF THIS SLIDE PACK AND FOR FURTHER DETAILS ON
- DEFINING THE NEW STRATEGIC BUSINESS MODEL
- DETERMINING THE STRATEGIC GAPS, REQUIRED FOR
THE STRATEGIC PLAN DEVELOPMENT & EXECUTION
E-MAIL:
MIONESCU@STRATEGSYS.COM
THE PRESENTATION CAN BE DOWNLOADED AS PDF FROM
http://issuu.com/mihaiionescu7/docs/strategic_business_model_canvas
IT CAN BE VIEWED AS VIDEO SLIDE PACK AT:
http://youtu.be/CTFBgqXnM2M
OR AT
http://vimeo.com/user33042260/strategicbusinessmodelcanvas
TURNING CUSTOMER INSIGHTS CONTRIBUTING TO VMI BASED DECISION SUPPORT SYSTEM I...ijmvsc
This summarizes a research paper on turning customer insights into a vendor-managed inventory decision support system for demand chain management. The paper proposes adopting the CRASP management methodology and adding semantics to big data analytics to enable semantic decision making. CRASP focuses on adapting to different contexts at the business, process and resource levels. It assesses sustainability using big data analytics and knowledge management. The paper argues that customer insights from social media monitoring and big data analytics can help mitigate the bullwhip effect in supply chains and optimize inventory management in vendor-managed inventory systems. Semantic technologies are needed to implement CRASP and enable semantic decision making.
This document outlines a strategy for Singapore Power Group to evolve with changes in the energy market. It proposes developing a digital application called Project SPARC to connect customers and retailers through value-added services like sustainability solutions, reliability tools, and a marketplace. The strategy also involves acquiring an energy audit company, strengthening cybersecurity, hiring additional staff, and implementing a branding campaign centered around connectivity, reliability and sustainability. The goal is for Singapore Power Group to remain relevant long-term and improve lives in Singapore.
Similar to UNIT - IV SERVICE DELIVERY, PRICING AND PROMOTION (20)
THE GROWTH ANALYSIS OF UNIFIED PAYMENTS INTERFACE (UPI) IN INDIA.docxVARUN KESAVAN
Interoperability among “payment systems in India has facilitated unparalleled ease of transactions while robust customer protection measures have made India’s retail payment system one of the safest in the world.
Unified Payments Interface (UPI) is a mobile-based, 365x24x7 ‘fast payment’ system launched in August 2016 which allows users to send and receive money instantly using a Virtual Payment Address (VPA) set by the user itself. The unique feature of VPA-based transaction is that it obviates the need for sharing account or bank details to the remitter. It supports person-to-person (P2P) and person-to-merchant (P2M) payments which can be used over a smart phone (app-based) or a feature phone (USSD8-based), and at merchant location/website. It facilitates immediate money transfer through both ‘pull’ and ‘push’ payments.
Non-financial transactions, such as balance enquiry, can also be carried out using UPI. It powers multiple bank accounts into a single mobile application of any participating bank/non-bank Third Party Application Provider (TPAP). Funds can also be transferred through UPI using account number with and IFSC (Indian Financial System Code) of the bank branch. The UPI 2.0 was launched in August 2018, which enabled users to link their Overdraft accounts to UPI VPA. Users are also able to pre-authorise transactions by issuing a mandate for specific merchant for a one-time payment. There’s also an added feature of AutoPay facility for recurring payments.
The framework of UPI comprises NPCI as switching and settlement service provider and banks as Payment System Providers (PSPs) – as issuer banks and beneficiary banks. Additionally, it can also have Third Party Application Providers (TPAP) such as Google Pay. Transactions are carried out through mobile devices with two-factor authentication using device binding and UPI PIN as security. Currently, the per transaction limit is INR 0.2 million.
UPI has attracted participation from a number of FinTech players. As against banks, it is the non-bank players who have made good use of the openness of UPI architecture, which allows any entity’s mobile application to be used for doing UPI transactions. Since its humble beginning in 2016, UPI has become one of the most popular payment products in India. Convenience of remembering and sharing a simple UPI VPA may have added to its popularity”.
On the whole we can observe there is a significant increase in the number of UPI transactions both in terms of volume and in terms of value. Similarly, from 17.86 million transactions in financial year 2016 – 2017 to 22,330.65 million transactions in the year 2021 – 2022 with the CAGR of 228%. Similarly with reference to value of transactions there is a increase in the value of transactions from Rs. 69.47 billion transactions in the year 2016 – 2017 to Rs. 41,036.54 billion transactions in the year 2021 – 2022 with the CAGR of 190%. UPI is going to be a catalyst in the retail payments sector in India.
WILL ROBOTS REDUCE OR INCREASE HUMAN EMPLOYMENT OPPORTUNITIES?VARUN KESAVAN
According to Binus Square Student Committee, Technology is disrupting the economy at many levels, and many worry about losing their jobs to automation. The truth is that this isn’t anything new—we’ve been through this already with the Industrial Revolution.
Back then, employees also thought there would be no room for humans at work. Machines were taking over, and their jobs were less valuable every day. But humans are still part of the equation; machines didn’t replace us—we use them to make our jobs more productive.
Today, we can expect a significant change in the way we handle our work, and we’ll probably have to learn new skills to future-proof our lives. The only difference between the previous industrial revolutions and today’s robotics revolution is the speed at which it is taking place.
According to a recent Oxford study, there will be 14 million robots in China’s workforce within the next 11 years. Artificial Intelligence, machine learning and robotics are accelerating the pace of automation in the workspace. However, there will always be jobs for humans. Now, let’s explore whether robots will reduce human employment or not.
GLOBAL TOURISM SECTOR TO SUFFER $1.2 TRILLION DUE TO COVID-19 PANDEMICVARUN KESAVAN
Global tourism sector is set to lose at least $1.2 trillion due to the spread of coronavirus. Let's take a look at the impact.
The world's tourism sector could lose at least $1.2 trillion or 1.5 per cent of the global gross domestic product (GDP), having been on a standstill for nearly four months due to the coronavirus pandemic. The loss could rise to $2.2 trillion or 2.8 per cent of the world's GDP if the break in international tourism lasts for eight months, in line with the expected decline in tourism as projected by the UN World Tourism Organisation.
In the most pessimistic scenario, a 12-month break in international tourism would incur an estimated losses of $3.3 trillion or 4.2 per cent of global GDP. In absolute terms, the world's largest trading economies, USA and China would face the largest declines in GDP, in the moderate scenario.
Negative employment and wage effects would be highest in countries reliant on tourism. The steepest drops are estimated in Thailand (-12 per cent), Jamaica (-11 per cent), and Croatia (-9 per cent).
In the long run, the World Travel & Tourism Council anticipates that the international tourism sector will likely return to pre-pandemic levels within a 19-month period.
THE AFTERMATH EFFECTS OF CORONAVIRUS PANDEMIC ON THE INVESTMENTS IN REAL ESTA...VARUN KESAVAN
The COVID-19 pandemic has severely impacted real estate investments in India. Private equity investments in Indian real estate dropped by 93% in 2020 compared to the previous year. Residential real estate witnessed a 91% year-over-year decline in investments. Office investments also declined, dropping 81% in the first five months of 2020 versus the same period the previous year. The pandemic-induced lockdown slowed overall real estate investment activity and leasing in India.
THE JOURNEY BEHIND THE GLORY OF LARGEST ONLINE NEWS PLATFORM DAILYHUNTVARUN KESAVAN
We no longer have to wait for the newspaper to get the latest news, nor do we require to wait till we reach home and switch on the TV to know the breaking news. With mobile phones and fast and cheap internet services, news and information is now much easier to access. An entrepreneur, Virendra Gupta could foresee this situation even before it actually arrived, which led him to acquire Newshunt in 2012, which is currently known as Dailyhunt. Today Dailyhunt procures content from over 1000+ publishers and is getting much popularity as the content is available in 14 Indian regional languages. Lets have a look at the journey of this top Indian startup.
THE PATH BEHIND THE SHINING OF PAYMENTS APP MOBIKWIK VARUN KESAVAN
Using a Mobile Wallet has now turned out to be a habit of many. Easy hassle-free payment and no worries about hunting for change every time you purchase something probably is a major benefit of using a mobile wallet. While today many international players are providing mobile wallet services in India, MobiKwik is one of the pioneer Indian mobile wallet companies, that despite much competition has carved a niche for itself.
THE JOURNEY BEHIND THE GLORY OF ONLINE TRAVEL KING MAKEMY TRIP VARUN KESAVAN
India’s leading online travel company MakeMyTrip.com was founded in the year 2000 by Deep Kalra. Headquartered in Gurugram, Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets.
As of March 31, 2018, the company has 14 company-owned travel stores in 14 cities, including one in their office in Gurugram, over 30 franchisee-owned travel stores which primarily sell packages in approximately 28 cities, and counters in four major airports in India under their brand. They also have offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.
THE JOURNEY BEHIND THE SHINNING OF ONLINE INSURANCE AGGREGATOR POLICYBAZAARVARUN KESAVAN
PolicyBazaar is India’s leading aggregator and marketplace of insurance products. Established in 2008, PolicyBazaar initially just compared the prices of insurance policies and provided insurance related information. Now, PolicyBazaar not only assists customers in buying insurance policies, but also provides assistance for cancellation/renewal of policies and even claim settlement.
PoicyBazaar is the marketplace for all insurance needs. It provides every thing from, life insurance, health insurance, motor insurance and other insurance like travel insurance and group insurance etc. The company offers more than 250 insurance plans and around 50 insurance brands on its platform. T
he platform is designed in a way that the visitors can easily compare the insurance plans and buy plans as per personal insurance needs.
The company is constantly adding new features and technology to make customer experience smoother. PolicyBazaar introduced 'my account' feature some times back. Through PolicyBazaar's 'My Account' feature, customers can easily download a policy, raise a ticket, ask for clarification and upgrade policies. The company introduced self inspection video feature for revival of lapsed motor insurance.
PolicyBazaar also adopted Amazon Polly and developed in-house AI chatbot - PBee to improve customer satisfaction.
In 2015, PolicyBazaar app was launched. The app is available for android and iOS platform. A customer can not only search, compare and buy insurance through the PolicyBazaar app, but there are also interesting features like hospital locator, garage locator, insurance premium calculator, instant renewal of insurance policies, claim assistance and more.
THE ROAD BEHIND THE GLORY OF GROCERY GIANT GROFERSVARUN KESAVAN
Grofers is an Indian online grocery delivery startup founded in 2013 by two IIT graduates. It operates in 28 Indian cities. Initially, the founders facilitated grocery deliveries from local stores and supermarkets for customers. They aimed to provide one-stop delivery for local needs by partnering with shops. Grofers works on a marketplace model, partnering with local grocery shops to fulfill online orders placed through its app, charging the shops commissions ranging from 8-15%. While Grofers has seen success, it also faced initial challenges including delayed service, product quality issues, and shutting down operations in some cities.
THE RELIANCE JIO WHICH TRANSFORMED THE FACE OF INDIAN TELECOM INDUSTRYVARUN KESAVAN
When Anil Ambani and Mukesh Ambani had a split in the year 2005 it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom became a part of Anil Ambani Group. Further Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited which was the only successful bidder across India for the 4G network.
That is when Mukesh Ambani’s Reliance Limited started working in establishing a base for high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.
Jio launched this service on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.
This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs.250-300 for 1 GB 4G data which went down to Rs. 5 per GB during the initial days. With such amusing plans gradually Jio also offered free voice calling and free 100 SMS per day for all its Prime members.
THE NOTABLE CONTRIBUTIONS MADE BY CORPORATE GIANTS DURING THE OUTBREAK OF THI...VARUN KESAVAN
Tata Trusts and Tata Sons have combined committed Rs 1,500 crore towards coronavirus relief work. Chairman of Tata Trusts, Ratan Tata committed Rs 500 crore towards manufacturing of personal protective equipment, respiratory systems, testing kits and setting up modular treatment facilities and training of health workers. Following which, Tata Sons announced an additional Rs 1,000 crore support towards coronavirus fund. This is by far the biggest contribution by a business group in India. Out of the total fund, Rs 500 crore has been contributed towards PM-CARES fund.
Philanthropist Azim Premji's companies Wipro Ltd, Wipro Enterprises Ltd and Azim Premji Foundation, have together committed Rs 1,125 crore. Of the Rs 1,125 crore, Wipro Ltd's commitment is Rs 100 crore, Wipro Enterprises Ltd's is Rs 25 crore, and that of the Azim Premji Foundation is Rs 1,000 crore. These sums are in addition to the annual CSR activities of Wipro, and the usual philanthropic spends of the Azim Premji Foundation.
Mukesh Ambani-led Reliance Industries (RIL) has donated Rs 510 crore to the coronavirus relief work. This includes contribution of Rs 500 crore to the PM-CARES Fund and Rs. 5 crore each to the Chief Minister's Relief Fund of Maharashtra and Gujarat. RIL has also setup a 100-bed centre for COVID-19 patients at a hospital in Mumbai.
THE ATTRIBUTES BEHIND THE GLORY OF DELIVERY KING SWIGGYVARUN KESAVAN
INTRODUCTION
Swiggy is a food delivery application. It allows the users to access their application from Android, IOS, and website, to order food from nearby restaurants, delivering at an estimated time of 30 minutes at the doorstep. They partner with restaurants, have delivery services, and provide ratings that help the customer in picking eateries accordingly. At the time delivery of an order, a customer is entitled to give feedback, rate the food and the delivery services, which help the application, give the customer the best experience by gathering all data.
The company recently started with the tagline, ‘No order too small’, that is no minimum order for delivery, and faster delivery became the USP of the company. The company’s target audience is people who use smartphones regularly, 18-35 demographic. The tagline of Swiggy is, ‘Swiggy karo, phir jo chahe karo!’ which appears in the advertisements of Swiggy.
THE INCEPTION OF SWIGGY
In the year 2013, Sriharsha and Nandan came together to build a product that would connect courier companies across the country, called Bundl. Bundl was not such a huge success and these two co-founders wanted to focus on the food industry. They met Rahul who helped build the software. Hence, Swiggy was born in August 2014.
When Swiggy came to the market, the food delivery sector already had applications like Foodpanda, Tinyowl, and Ola Café. Foodpanda and Tinyowl were later acquired by Ola Cabs and Zomato respectively and Ola café later got closed. While all these companies were struggling, Swiggy already had around 100 restaurants on board, with around 70,000 orders monthly. They also received a cheque of $2 million from Accel and SAIF Partners in the year 2015. This is how the company began with a kick start.
Swiggy started in the year 2014, as a food delivery app. Eventually, Swiggy expanded in size and is working in 100 cities in India at present. In 2019, Swiggy also started its business in delivering packages to businesses and clients, with the application called, Swiggy Go.
THE INITIAL HI-CUPS FACED BY SWIGGY
Swiggy has both technical and non-technical issues that arise regularly. It is a challenge for Swiggy to calculate an estimate for each order made and making sure it gets delivered at the said time. The app also has a feature of rating for both the delivery services and the food served by restaurants; they gather this data and ensure to give the best experience to the customers.
THE BUSINESS AND REVENUE MODEL OF SWIGGY
The application works on the business model of hyper-local on-demand food delivery. Swiggy gets restaurants as partners that supply food to the customers. It has several delivery partners who aim at delivering food in less than 30 minutes. The revenue collected by Swiggy at the year ending March 2019 was Rs. 1, 128 crore.
THE LIFE SPAN OF DEADLY CORONAVIRUS ON DIFFERENT SURFACESVARUN KESAVAN
Coronavirus which has affected more than 5 lakh people and killed more than 24 thousand across the world till March 27 is spreading fast. The novel virus can spread through infected surfaces and can live between 3 to 72 hours hours on different surfaces such as plastic, metals, cardboard and even air.
As per a study published in New England Journal of Medicine, coronavirus (SARS-CoV-2) can be detected in air upto three hours. A person is more likely to catch the infection from air through an infected person rather than the surfaces that have the virus.
On copper, coronavirus can survive for upto 4 hours. As per the study, no traces of the virus could be seen or measured post the four-hour time-frame. Disinfecting the copper surface from time to time is a precautionary measure that can be used.
Coronavirus can live for a day on cardboard surfaces. As per the study, the virus (SARS-CoV-2) can survive for upto 24 hours on surfaces that are made out of cardboard. However the study also said that replicate data were noticeably "noisier" for cardboard than for other surfaces.
On objects and surfaces made of stainless steel, coronavirus can survive for upto 48 hours. The estimated median half-life of the virus was approximately 5.6 hours on stainless steel. The study published in New England Journal of Medicine notes that no visible virus (SARS-Cov-2) was measured after the 48-hour time period.
Coronavirus can live for upto 3 days on plastic surfaces. The SARS-COV-2 virus was more stable on plastic as compared to other surfaces such as metals and cardboard. The estimated median half-life of the virus was approximately 6.8 hours on plastic surfaces.
THE REPERCUSSIONS OF CORONAVIRUS' ON INDIA'S IMPORTS FROM CHINAVARUN KESAVAN
China's share in India's imports stand at 14 per cent. Since the outbreak of coronavirus trading between the two countries has been affected. India has a high dependency on China for manufacturing inputs. The industries that are impacted the most are:
APIs stand for active pharmaceutical ingredients. Indian companies imported 68 per cent of active pharmaceutical ingredients (API) from China in FY19. Indian pharma companies have said they have stock for 2-3 months, but the situation could worsen post May 2020.
India's electrical machinery and equipment has 40 per cent dependence on imports from China. However this number has reduced from 59.5 per cent in FY18 to 40 per cent in FY19. Although India has increased production of low-end electronic components. Import dependency on China is its major limitation.
Solar cells and modules which absorb sunlight to generate electricity are imported from China. As per a report from HDFC Bank, India's solar industry has 80 per cent dependence on Chinese manufacturers for solar products. As a result projects could be delayed in the next 4-6 months.
Consumer durables are the products that have a long use life such as air conditioners, refrigerators, and other household appliances. Around 45 per cent of consumer durables are imported from China. Currently an inventory for 2-3 months is being maintained by companies but the impact of the virus outbreak could be felt from Mar-Apr 20. Prices of these goods could rise in near future, according to the report.
Automobile sector, which accounts for 7.5 per cent of India's GDP and a massive 49 per cent of the manufacturing GDP, is already facing slowdown. The coronavirus lockdown has made the situation worse for the auto sector as 10 to 30 per cent of automotive components are supplied from China. If factories do not resume activity in China, it could adversely affect the sector.
Tourism sector comprises a broad chain of services such as tickets and booking, transportation, hotels, food and beverages. Since 2011, tourists from China visiting India were growing at 11% annually. China accounted for 3% of total foreign tourist arrivals in 2019.
HOW CEMENT INDUSTRY CAN BE THE BOOSTER ENGINE FOR INDIA?VARUN KESAVAN
1) The Indian cement industry is the second largest in the world in terms of production, but per capita consumption is still low at under 200kg compared to the world average of 500kg.
2) There has been consolidation in the industry with big players acquiring smaller regional cement companies. Cement companies operate by focusing on either quality or price.
3) Cement advertising now focuses more on emotional connections with consumers rather than just functional benefits due to information overload.
4) Government infrastructure projects and the housing sector are expected to drive demand growth, increasing per capita cement consumption to 435kg by 2030 and enabling an 82% expansion in production capacity.
ROBOTS AND HUMANS: COMBINED CAPABILITY WILL ENABLE BUSINESSES DELIVER UNEXPEC...VARUN KESAVAN
The last few years have seen a significant infusion of robots in various industries. This trend is expected to continue in the next 3-5 years. Almost 1 million robots are expected to be sold for enterprise use in 2020. There are primarily 3 types of robots - industrial, professional services and software robots.
Professional service robots (e.g., those used in healthcare, retail industries) and software robots (e.g., those used in functions such as Finance, HR, Procurement) will comprise a significant portion of these new robot sales. The market for professional services and software robots is growing much faster than that for industrial robots.
As the use of robots, increase in non-manufacturing industries, the companies which are able to combine the uniquely native human capabilities (e.g., inspiration, aspiration, emotion, empathy, imagination) with powerful robot capabilities (e.g., accurate transaction processing) will be able to re-imagine their business processes and deliver better and newer business outcomes for their stakeholders.
THE WAYS IN WHICH GEO -ENGINEERING COULD TRANSFORM THE ENVIRONMENTVARUN KESAVAN
Varun Kesavan discusses how geoengineering could be used to address the climate emergency. Specifically, solar radiation management techniques like stratospheric aerosol injection aim to reflect sunlight back into space to cool the planet. While once dismissed, major universities are now researching geoengineering due to the urgent threat of climate change. However, the large-scale effects are still uncertain and it may discourage climate action or have unintended impacts if halted. Overall, geoengineering shows potential to significantly benefit society and the environment according to studies, despite some risks, and could provide time to further address the root causes of climate change.
THE WAYS IN WHICH AUTOMATION REVOLUSIONS THE MANAGEMENT STRATEGYVARUN KESAVAN
Business strategy is being revolutionised by advances in automation technologies and management must follow. Management beliefs and practices must evolve with the new ways of production, distribution and consumption. Businesses are beginning to accept the inevitability of tech-enabled processes and tech-determined choices.
Industry 4.0 is about autonomy of machines. Advances in sensors, communication, computation, robotics, GPS etc have created possibilities of infusing machines with intelligence to automate both work and management. Machines are already collecting and sorting information, and management mostly involves dealing with people and making decisions. As Industry 4.0 evolves, a lot of decision-making will also be transferred to machines. But, it is not clear yet how machines will share ethical and legal responsibility for their actions.
THE SMES IN 2020: B2B PAYMENTS, DATA PRIVACY AMONG MAJOR PROBLEMS TO STAY IN ...VARUN KESAVAN
Several B2B payments and lending companies, over the last one year, emerged with solutions around banking, expense management, accounting/book-keeping, and Accounts Payable/Accounts Receivable (AP/AR) automation.
Slowly, but steadily, businesses are adopting software-as-a-service (SaaS) tools to manage their businesses better and move towards real digitisation away from manual and clunky processes to more elegant and friction-free processes.
Investors have taken notice of this opportunity in the B2B space and have stepped up their investments. A recent report by Venture Intelligence said that B2B fintech has secured $657 million in India so far this year, compared to $617 million by B2C fintech. Keeping this business payments transformation in mind, here are the top five topics that will be in the limelight in 2020:
THE TOP INNOVATIVE ECONOMIES IN THE WORLDVARUN KESAVAN
The World Economic Forum's Global Competitiveness Report for 2019 ranks 141 economies on their innovation capability. The innovation ecosystem is measured with the help of five sub-pillars-commercialization, Interaction, and diversity, administrative requirements, research and development, and entrepreneurial culture. Other important factors like education and the intensity of competitive skills they possess also help determine the country's innovation capabilities.
Step-by-Step Guide to Social Media Advertising.pdfnivedhithas9
A Step-by-Step Guide to Social Media Advertising involves creating a strategic plan that includes identifying your target audience, choosing the right platforms, crafting engaging content, setting a budget, and analyzing performance metrics to optimize future campaigns. This approach ensures effective and efficient promotion of products or services on social media platforms.
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Importance of SEO to support holistic marketing strategies and the rise of n...JessicaRedman5
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Rand Fishkin of Sparktoro broke the news about the Google API Leaks in May 2023. Mike King from iPullRank did what he does best—dissected everything from the leaks. How big was the leak? Around 2,600 pages of leaked internal documentation describing different components of Google's ranking systems and 14,000 attributes or features represented in the documentation.
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1. UNIT – IV SERVICE
DELIVERY, PRICING
AND PROMOTION
BY VARUN KESAVAN
E – MAIL ID – varunkesavan@yahoo.com
1
2. INTORDUCTION
POSITIONING MEANS PROJECTING THE IMAGE OF THE PROJECT OR
SERVICE IN SUCH A WAY THAT ANYONE THAT CONSUMER PERCEIVES ITS
VALUE DISTINCTIVELY FROM THAT OF COMPETITIVE OFFERS.
2
3. OBJECTIVES OF SERVICE
POSOTIONING
TO CREATE DISTINCTIVE PLACE OF A PRODUCT IN MINDS OF
CUSTOMERS
TPO PROVIDE A COMPETITIVE EDGE TO A PRODUCT
PLACE AN INTANGIBLE SERVICE WITHIN A MORE TANGIBLE FRAME OF
REFERENCE
TO GIVE TARGET MKTS THE REASON OF BUYING THE SERVICES OF
MKTERS
TO ENABLE GUIDELINES TO DEVELOP MKTG MIX WITH EACH ELEMENT
3
4. STEPS IN DEVELOPING A
POSITIONING STRATEGY
IDENTIFY THE COMPETITORS
DETERMINE HOW COMPETITORS ARE PERCEIVED
DETERMINE COMPETITORS POSITION
ANALYST THE CUSTOMERS
SELECT THE POSITION
MONITOR THE POSITION
4
5. WAYS OF POSITIONING SERVICES
POSITIONING BY ATTRIBUTES, FEATURES OR CONSUMER BENEFITS
POSITIONIG BY PRICE VALUE
BY USE OF APPLICATION
BY ACCORDING TO USERS
WITH RESPECT TO PRODUCT CLASS
BY AGAINST COMPETITION
BY ENDORESEMENTS
BY QUALITY DIMENSIONS
5
7. POSITIONING BY 5 DIMENSIONS OF
SERVIE QUALITY
TANGIBLES
RELIABILITY
RESPONSIVENESS
ASSURANCE
EMPATHY
7
8. CHALLENGES IN SERVICE
POSITIONING
RELATED ACTIVITIES
LACK OF COHERENT DEFINITIONS
DIFFERENTIATING CHARACTERSTICS
OVERLAPS BETWEEN SERVICES AND GOODS
GENERIC DIFFERENCES
INTERPRETATION OF SERVICES
EMOTIONAL APPEAL
8
11. FEATURES OF SERVICE DELIVERY
INSEPERABILITY
LACK OF STANDARDISATION IN SERVICES
RECOVERY SERVICES
11
12. ELEMENTS OF SERVICE DELIVERY
SYSTEMS
THE MARKET
THE SERVICE ENCOUNTER AND EXPERIENCE
RETENTION
12
13. FACTORS IN DESIGNING SERVICE
DELIVERY SYS
FACILTY LOCATION
SERVICESCAPE
SERVICE PROCESS AND JOB DESIGN
TECHNOLOGY AND INFORMATION SUPPORT SYSTEMS
ORG STRUCTURE
13
14. SERVICE DELIVERY STRATEGIES
MULTI – SITE STRATEGY
MULTI – SERVICE STRATEGY
MULTI – SEGMENT STRATEGY
HYBRID STRATEGIES
14
16. ISSUES TO CONSIDERED FOR CHANNEL
SELECTION
ISSUES TO CONSIDERED FOR CHANNEL SELECTION
MKT COVERAGE
COSTS
CONTROL
FLEXIBILITY
OVERALL ABILITY TO ADD VALUE
16
18. MANAGING EFFECTIVE SERVICE
DELIVERY
ROLE OF EMPLOYEES IN EFFECTIVE SERVICE DELIVERY
THEY ARE THE SERVICE
THEY ARE THE ORG IN CUSTOMER EYES
THEY ARE THE BRAND
THEY ARE THE MKTERS
18
19. CUSTOMER ROLES IN SERVICE
DELIVERY
HIRE COMPETENT STAFF
TAKE ADVANTAGE OF INNOVATION AND MODERN TECH
AUTOMATED SALES PROCESS
CUSTOMER IS ALWAYS RIGHT
COMMUNITY INVOLVEMENT
GET REFERRALS
COMPANY EYEE RETENTION STRATEGY
CHOOSE THE RIGHT CUSTOMER
REWARD CUSTOMERS FOR THEIR CONTRIBUTIONS
19
21. STRATEGIES FOR EFFECTIVE SERVICE
DELIVERY THROUGH INTERMEDIARIES
INTERMEDIARY CONTROL STRATEGIES
EMPOWERMENT STRATEGIES
PARTNERING STRATEGIES
21
25. FACTORS INVOLVED IN PRICING A
SERVICE PRODUCT
COST INVOLVED IN PROVIDING SERVICE
COMPETITOR PRICING
DEMAND LEVELS
REGULATORY FACTORS
INFLUENCES OF MKTG MIX
25
26. METHODS OF PRICING SERVICES
COST BASED PRICING
COMPETITOR BASED PRICING
DEMAND ORIENTED PRICING
VALUE BASED PRICING
26
27. PRICING STRATEGIES IN SERVICES
PRICE DISCOUNTING
ODD PRICING
PENETRATION PRICING
BUNDLED PRICING
PRESTIGE PRICING
MKT SEGMENT PRICING
LOSS LEADERSHIP PRICING
BID PRICING
MONEY – BACK GURANTEE
GAIN AND RISK PRICING
27
28. SERVICES MGMT TRIANGLE
VARIANTS OF SERVICE MGMT TRIANGLE
INTERNAL MKTG
EXTERNAL MKTG
INTERACTIVE MKTG
28
29. 4 C’S OF DELIVERING CUSTOMER
SERVICE
CONVENIENCE
CONNECTDNESS
CHOICE
CREATIVITY
29
30. SERVICE MKTG COMMUNICATION
THE THE WORD PROMOTION IS AN ATTEMPT TO SHIFT THE ATTENTION
OF PEOPLE FROM ONE END SPECTRUM TO OTHER INTEREST
PLACE.303030
30