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Assignment
Of
MARKETING MANAGEMENT
On
Marketing Research on New Product
M-Pay (Mobile Payment)
Easy, Quick & Secure Money Transfer
.
Submitted To: Submitted By:
Dr. B.B Singla Avneesh Manchanda
Roll No. 5701
MBA-1(A)
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About Company
Airtel comes to you from Bharti Airtel Limited, one of Asias leading
integrated telecom services providers with operations in India, Sri Lanka and
Bangladesh. Bharti Airtel since its inception has been at the forefront of
technology and has pioneered several innovations in the telecom sector.
The company is structured into four strategic business units - Mobile,
Telemedia, Enterprise and Digital TV. The mobile business offers services
in India, Sri Lanka and Bangladesh. The Telemedia business provides
broadband, IPTV and telephone services in 95 Indian cities. The Digital TV
business provides Direct-to-Home TV services across India. The Enterprise
business provides end-to-end telecom solutions to corporate customers and
national and international long distance services to telcos.
Today Airtel is the largest telecom operator in India on subscriber base
and right now has more than 11 crore mobile subscribers throughout
India.
Mission
To provide the customers with the easy way of money transfer through
mobile and revolutionize the mode of payment.
Objectives
To penetrate the service throughout India and targeting whole mobile
customer base.
To make the beginning of easy and quick method of money transfer.
To have long sustainability in Telecom market.
To capture the major market shares and long term sustainability.
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About the Product/Service
M-pay is the service that basically allows the customers to make easy,
quick and secure payment through mobile and that too without the help of
Internet, GPRS and even without Credit Cards. Customer can transfermoney from his account balance to the other person's balance just by
sending a SMS and if the other person wants that money in the form of his
account balance then he can use it as it is and if he wants it in cash then he
can get it encashed from the retailer /dealer. Airtel will take 0.5%
commission and same is in the retailer case.
Need/ why it is launched?
As of now when we need to transfer money/pay some other person, we use
either of the methods
(i) We pay through cash
(ii) We go to bank and either deposit the money in that persons account or
make a draft
(iii) Make payment through Internet using Internet Banking.
But with the help of this service you can just transfer the money from your
mobile just by sending a SMS and that too from anywhere to anybody and
with so much ease and quick and secure method.
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How to get this service?
In order to use this service first of all you need to subscribe to it by sending
an SMS free of cost.
Send M-Pay to 54321
Then you will receive a message from Airtel:
Welcome to Airtel. Let us take you to the whole new world of mobile
payment. Before you can use this service you need to enter 5 digit secret
Password that you need to enter during every transaction for safe and
secure money transfer.
Then Customer enters the password
Then again he receives a message from Airtel:
Your password has been save din our database and you can use it in
further transactions
How does it work?
Step 1. First of all you must know the mobile number of the other person
whom you want to transfer the money provided that customer should also
be of Airtel (since this service is only available with Airtel. No doubt in
coming times other telecom operators may follow the suit and then
customers will be able to transfer money to other operators as well.)
Step 2. You should have enough balance in your mobile to transfer money.
I.e. you want to transfer Rs 100 then you should have at least Rs 100 in your
balance.
Step 3. You just need to send a SMS in the following format.
PAYRsto
Send this SMS to 54321.
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Step4. Then it will ask for yourSecret Password to verify and authenticate
the transfer process. Thus the transfer process is safe and secure.
Step5. After the money transfer has been done then the sender will get the
message Transaction Successful and the receiver will receive the
message Received Rs from mobile no
If your balance gets nil, then you can get it recharged as you used to do
earlier and carry on with the same process.
Airtel will charge 0.5% on the amount of money transferred.
And if the user wants that money in cash then he can get it
encashed from Retailer/Dealer who in turn will charge 0.5%
on the money exchanged.
Unique Selling Proposition
Unique Selling Proposition says: "Buy this product, and you will get this
specific benefit." Unique selling proposition for this service is:
This particular service is first of its kind and is not being
presently being offered by any other telecom operator.
It does not need any Internet, GPRS connectivity or any Credit
Card as being used by other payment modes.
It can also be used for making electricity and telephone payments
through mobile
Thus M-Pay provides an easy, quick and secure money transfer.
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Approach
The approach being used for this service is:
First of all this service will be based on Pilot Study.
I.e. initially the customers will be able to transfer money up to the limit of
Rs 5000 and if we receive good response/hits to it, then post that we can
launch recharge coupons of larger amount up to RS 15000 so that users can
transfer money up to higher value.
Applications
1 First of all this service can be used to transfer money /make paymentsbetween different users.
2 It can also be used to pay electricity bills.
3 It can also be used to pay telephone bills.
Application - Bills Payment
M-Pay can also be used for electricity and telephone bills paymentas:
Electricity Bill Payment
Airtel has collaborated with State Electricity Board to make
payment of electricity bills easier and quick. Else the customers
have to stand in long queues and then wait for their turn to pay the
bills. Thus it was a long and tiresome process earlier. But with M-
Pay you can pay your electricity bills in an easier and quick
method.
Airtel has provided Electricity Board with a specific number which
the customers have to quote while making payment.
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Target customers
Various target groups are:
Young Group: These are the ones who are tech savvy and use mobilefor everything.
Old people: The aged group who use mobile and cannot go to banks
and cant use internet banking for making payments.
Working people: The ones are using mobile and too busy to pay
through bank or standing in long queues for bills payment.
Businessman: Those who need to make payments to suppliers and
have less time to go anywhere for making payment.
So overall the whole population is target groups who use mobile
and need to make money transfer for one purpose or the other.
SWOT Analysis
1. Strength
First operator to launch this service
Easy way of money transfer.
No competition in the starting.
Can be used to pay electricity and telephone bills
Affordable Price.
2. Weakness
Money can be transferred only to the same operator.
Initially money transfer up to Rs 5000.
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3. Opportunities
New segment of service.
More options to be available in near future.
Can be used by all age groups.
4. Threats
Present competition from other modes of payment such as cash, banks
and internet banking
Competition in future from other operators launching the same service
in the near future.
Marketing Objectives
1. To popularize the new money transfer service.
2. To capture the new segment in money transfer.
3. To gain profits through Market penetration
4. To create wave of mobile money transfer service to make them a dailypart of life.
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Marketing Mix
1. Product Strategy
This includes the features of the product/ service:
Recharge coupons will be available in different values to recharge
your account balance up to Rs.5000.
Also the service will help the user to pay the electricity and telephone
bills.
Tetra packs are preferred choice for packing as they maintain the
freshness.
2. Pricing Strategy
The marketing penetration method is to be adopted. The prices are as
followed:
Airtel will charge 0.5% commission on the amount of money
transferred.
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Retailer will charge 0.5% of the money which the user wants to
exchange.
3. Promotional Strategy
The main focus of promotion is to penetrate the new money transfer through
mobile service throughout whole mobile subscriber base.
Promotion Channels used are:
a. Television channels focusing commercial channels, News channels
b. Radio advertisement is in main focus.
c. Pamphlets in newspapers focusing on message of the product.
d Through promo posters at various public places and road junctions.
e Through banners and web pages advertising.
4. Placing Strategy
The service will be launched throughout India to reach whole of the mobile
subscriber base. The product will be launched PAN India level.
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