Download Notes: How We Killed Entire Competition | Monopoly Of Bada Business | Case Study | Dr Vivek Bindra

“Customer Experience is the next competitive Battleground”

Business Problems-

  • No Recovery
  • No Margin
  • Competition
  • Repeated Investment
  • Slow Expansion
  • High Attrition Rate
  • Sunrise Vs Sunset
  • Account Management
  • Manpower

Bada Business 5 Strategies-

  1. Switching Barriers
    1. Punitive- Punishment
      1. g. Life Insurance
      2. Technical Effort
      3. Learning Cost
      4. Equipment and Infrastructure cost- Financial Risk
    2. Rewarding Switching Barriers
        1. Personalization
        2. Customization
  2. Technology Barriers
          1. Use the latest technology in all sectors
  3. Mass Customization Strategy
    1. Ability to offer Personalised product
    2. Generic Product- Same
    3. Better choice, Right Cost, Ease for use of customer
    4. Identify Features
    5. What customer Want?
      1. Course X
      2. Problem ka Solution
      3. Operational Capabilities ?
      4. Costs Involved
  4. Service Marketing
        1. Focus on after sales services
      • “Customer Wants more than just a product or a service, they want experience”
  5. Critical Success Factor
        1. Issue at hand
        2. Brainstorm the Action
        3. Final Action
      • “Problem is not a Stop sign, It’s a guideline”
    • Influence your Gaol
    • Critical Success
    • Set Performance Metrics
    • Give Training and Spread the word

Examples-

  • Customer Loyalty
  • Profitability
  • Customer Satisfaction
  • Low Error Rate
  • Relationship Building
  • Reduce cycle time
  • Cost Reduction
  • Reduce turnaround time
  • Increase productivity
  • Increase net promoter score
  • Improve design
  • Expand Product Range
  • Voice of customer
  • Retention

“Planning without Action is Futile& Action without planning is Fatal”

“Competitive Advantage is all about Uncovering the hole in the Market”

“Something that is valuable and hard to replicate”

“Doing Better and Doing Differently”

“A brand is no longer What we tell to the customer, it is what customers tells each-other it is”

 

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