So, after networking, signaling etc, I really want to get into some stuff from my zone i.e. Marketing! The primary job of this team is to create competitive products! So, lets discuss how these products are created. By product, I mean to say all the products sans VAS ones: Voice, GPRS and SMS… The way VAS products are designed is completely different from the mentioned ones. Because VAS products are majorly created on what people want while other products are majorly created on competition (there are other factors as well)…
Ok, so lets begin…
Voice or GPRS or SMS products are majorly created based on few important things:
1. Competition products:
a. A whole lot of research is done on all the competitive products of all the operators: what are the MRPs, what is the PF, what is the response of retailers regarding each product, how the same is doing in market, which is the best product amongst all. So, after doing this detailed research, marketing team discuss the possibilities of products that can be created and which can be a competition for the best product in the market…
b. On time to time basis, marketing team checks and keep an update on the products of all the operators and then, do an analysis if they are missing on any of the products I,e, if they do not have a product competitive enough to match the competition’s products. I will give you an eg by creating a sample report in an excel sheetJ
If you look at the above image of an excel sheet, the products have distributed on the basis of MRP range because it makes the comparison easy and simple.
· You just have to check in what range your product doesn’t exist, how many operators doesn’t have products in the same range, how are the products of the existing operators are working in the market etc… Now, there can be many scenarios, 1. If they are doing well, then you need to check out possibilities in which you can create a competitive product with the resources available to you.
· 2nd thing to be done is check the validity and benefits of all the products of all the operators in all the ranges and then, decide if you have the best product or not. Its something which again depends on many thing, one being the resources of your operator and so, based on all this you can make few changes in the existing products as well…
2. Usage Pattern:
2nd thing which is taken into account while creating a product is the Usage Pattern of your own base, your own customers. For e.g. in SMS, you need to check how many customers exists in each usage range:
0-100 SMS’s: how many cust exist
101-200 SMS’s: how many cust exist
200-500 SMS’s: how many cust exist
500-800 SMS’s: how many cust exist
> 800 SMS’s: how many cust exist
Then you need to check which is the most important range for you and weather you have product in the same or not (and it certainly doesn’t mean that you will not check for products in other range!)
3. Revenue factor:
This is the most important thing for any product. There is a small study of revenue pattern is to be done before creating products to decide on the benefits, validity etc. Lets take an eg of a SMS product:
After making the above sheet, you need to check the scenario which is the largest contributor in your total SMS Revenue and then, while creating the benefits of a product you need to keep that scenario on top.
· As I have mentioned about as well, while creating a product, you definitely have to take the cost into account, minus the same from MRP and that is what your earnings will be. Needless to say, they have to be positive.
· Validity plays a very important role while creating a product. If you give a large validity for a small price, you will definitely be in loss and in case of vice versa, the same would result in customer dissatisfaction.
So, the above are few things which are done while creating a product. Hope I was clear. Plz comment in case I missed out any of the pointsJ Would be glad…
Keep smiling and keep learning! VAS coming next:) I am happy because thats my zone:)))