The PJ (poor joke) above might no longer remain a PJ if banana peel is replaced by a typical problematic situation one encounters in daily routine. The question remains unanswered then: Why do some people find it difficult to act beyond cure? They do think 'Prevention is The Best Cure' though! I was no different from them! But now my journey is gathering speed, hopefully in the direction that the blog is supposed to drive towards. Checkout my other blogs and work at http://www.worldOFkaizen.com/

Wednesday 27 November 2013

Will It Work Here?

Other day there was a friendly debate on whether mobile-money service will work in Indian demographics. Although I knew it was offered in India, some apprehensions such as ease of transactions, security, cost of service, etc. kept me away from it. 

One of the debating friends working with a phone-company demonstrated a transaction including registration process within a minute. That's the time I could experience relative ease of accessing it. I could unearth a few difficulties in the process though. But I was surprised why phone companies were yet to speedily target the middle and high income group segment of the market inter-alia which is more likely to adopt it speedily than the mass-market.

If it was "successful across Africa" (as quoted by one of them) with it's inherent diversities and difficulties, then a modified business model should work in India too, I said. It might call for adopting it and differentiating it for the segments within target markets. The marketing-mix strategies may vary depending upon the segments: Demographic, Geographic, Behavioural, Psychographic, etc. Selling would take place as a sequel anyway. 

In fact such a service is a boon to any developing country provided the service is localized, made easier and faster and at the same time needing lesser efforts-n-resources; in short if it was made leaner.

Demonstration to me for instance was done on an Android device. How could it be made user-friendly and agile for various devices with differing features and technologies?

Steps performed were displayed in English language. It called for memorizing a password too. How could it be made easier for the entire spectrum of demographics covering various levels of literacy (using fingerprint lock for instance instead of password), levels of income, population, etc? How could it be made easily accessible to geographical markets?

Based on voice of the target market such as above, 'push'-type personal-marketing like that done to tackle apprehensions of a typical prospective customer like me should have been in place. It is necessary at least until a product & process of using it and educating the customer is made simpler and leanerUltimate goal should be to create a 'pull' for the offer for enhanced sale.

Differentiating the offer by bundling it could be an added advantage such as that done innovatively by organisers of a music programme that actually prompted me to write this blogpost. One highlight boasted of in it's advt was: "Mr Tom, Dick and Harry coming together for the FIRST-TIME". The concert was at an inaccessible venue located far from city. So the second differentiation it highlighted was, "Bus service available after the concert".

Dynamics of the 'mobile-money' and the 'music concert' as offerings do differ. But the point worth learning therefrom as denominator for any offering in general is the meticulous removal of hurdles  specific to differentiate it, to reach it to and to grab a particular target market with a sense-of-urgency. One may be able source a lot many innovations to do so if internal stakeholders in particular are engaged in the focused thought process. It should be done ethically though *unlike the concert organisers. Only then it's more likely to work sustainably!


Footnote: *Usually very few customers read between the lines and fewer still catch the 'catch' if any. Knowing such a consumer behaviour unethical organisers capitalise on getting some audience that doesn't bother to read. For instance in case of the concert some do tend to attend for the novelty effect of "FIRST-TIME" without realising that it was of 'unknown' artistes Toms and Harrys. Some also miss checking whether the bus service was free or came with an *asterisk. The organisers in this case seemed sure of getting some such audience.

Here are a couple of mobile-money services in India: Airtel's Airtel-Money and Vodafone's M-Pesa.

4 comments:

  1. The hardest part is penetration of the masses. Unfortunately, there is no specific market segment that companies are currently targeting. Once this is addressed, customisation like language settings, etc. will be possible. I think that is half the battle won!

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    1. Thanks for your time and for adding value. Ford's approach of "any color as long as it is black" is perhaps must on input (supply-chain) but on the output side it has really to be any color fitting the chosen 'segment'.

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  2. good ...like to know ur contact number

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    1. Thanks. Very few read & still few feedback. Will give cell no. on mail for obvious reasons. .. Shyamtalawadekar@gmail.com

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