Customer acquisition and retention project on virgin mobile
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Customer acquisition and retention project on virgin mobile
![VIRGIN MOBILE-‘THINK HAT KE’PREPARED BY Group 11:- Gaurav Kumar-334Jaybind Kumar Jha-328Kumar Saurabh-368Nilesh Chandra SInha-359Smriti Jha-329Customer Acquisition <br /> And Retention<br />A Marketing Project On<br />Submitted To:<br />Dr.Rajan Saxena<br /> ACKNOWLEDGEMENT<br />We are thankful to Dr. Rajan Saxena, Distinguished professor of Marketing, NMIMS for giving us the opportunity to work on this project .It was a great learning experience for us and we could actually put in practice, the learning acquired in the classroom. Also the project helped us in understanding the customer perspective of marketing strategies.<br />We are also thankful to Mr.Vivek Lal, Employee of Tata Teleservices for giving us the valuable suggestions through out the course of the project. <br /> Group 11 Members<br /> DECLARATION<br />We, hereby declare that the information presented in this report is correct to the best of our knowledge and has been prepared on the basis of information gained, collected and processed for utilizing our learning in the class of ‘Marketing Management’.<br />The report is an original work and has not been presented anywhere before. We have used secondary data in the report, but have provided proper references at suitable places. We, as a group, undertake the responsibility that in case of any issues relating to plagiarism issue being raised, we would be liable to consequent action by the management.<br /> GROUP 11<br /> TABLE OF CONTENTS<br />Topic Page No.<br />INTRODUCTION………………………………………………………..5<br />UNDERSTANDING VIRGIN’S BUSINESS MODEL………………....5<br />COMMUNICATING THE VIRGIN BRAND…………………………..7<br />TARGET MARKET………………………………………………….….8<br />CUSTOMER ACQUISITION AND RETENTION STRATEGIES...…..8<br />VALUE CREATION THROUGH PRODUCT DESIGN……………… 9<br />MARKETING MIX……………………………………………………..10<br />DISTRIBUTION CHANNEL…………………………………………..10<br />COMPETITION ……………………………………..…………………12<br />CUSTOMER RESEARCH…………………………..…………………12<br />RECOMMENDATIONS..................................................................…...14<br />EXIBITS……………………………………………..…………………15<br />REFERENCES………………………………..………………………..23<br />INTRODUCTION-WHY VIRGIN MOBILE?<br />In Indian mobile market, Virgin mobile is a unique player based on its business model and strategy. It is the only service provider which does not hold any bandwidth and mobile setup infrastructure but uses Tata Teleservices spectrum and is penetrating market totally on its branding and marketing strategy. Creating a niche brand and promoting it to specific customer segment with proper marketing has been the key success factor for virgin mobile across the globe. So, from marketing and customer understanding point of view, this is a very unique company to study.<br />UNDERSTANDING VIRGIN’S BUSINESS MODEL:<br />Virgin has promoted itself as the brand for young India, keeping the Indian youth as its target customer segment. The idea behind targeting this segment can be found inherited in virgin’s business model. The different marketing perspectives are explained in fig 1.<br />The salient features of Virgin’s business model from customer perspective are:<br />,[object Object]](https://image.slidesharecdn.com/customeracquisitionandretentionprojectonvirginmobile-110406140203-phpapp01/85/Customer-acquisition-and-retention-project-on-virgin-mobile-1-320.jpg)
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Customer acquisition and retention project on virgin mobile
- 2. Future projection of increasing young and working population of India as 65% of overall population by 2020.
- 3. Increased use of data services in future due to technological advancements.
- 5. Red and vibrant website look with youth focused language (Fig 2)
- 6. Tailor made plans for young segment
- 7. Getting paid for incoming calls: a source of recharge option for youth
- 10. 10% of customers surveyed were virgin customers where as 21% of them felt Virgin is the most cost effective brand.
- 11. In terms of cost effectiveness, Virgin stands 2nd with 21% share where as Airtel, Vodafone and Reliance stood at 1st place with 24% share each.
- 12. 88% of consumers were aware of paid incoming call facility provided by virgin but only 68% knew about 50 paisa STD plan.
- 13. 14 % of customers surveyed who were not virgin customers wanted to switch to virgin mobile.
- 14. 36% of customers did not want to switch to virgin because of holding a non- compatible handset.
- 15. An important finding was that 12% consumers surveyed did not know about Virgin mobile service.
- 17. It was found that time gap between the services sought and delivered was high. For e.g. the online orders did not reach on time on many occasions.
- 18. The quality of the network was found to be very good. Using the bandwidth owned by Tata Teleservices, actually helped Virgin in making its presence in the market.
- 19. It was also found that the customer care were always available to assist and customers were satisfied with the kind of responses which they got form the staff.
- 22. RECOMMENDATIONS:
- 23. Virgin should try to promote its latest plans like 50 paisa STD calls in advertisements. Making customers aware about latest pricing will increase its market share in terms of cost effectiveness.
- 24. Virgin should try to tap 14% of customer base who want to switch to virgin but not able to switch because of existing non-compatible handset.
- 25. Solving existing non-compatible handset problem and better communication to inform latest pricing strategies will lead to substantial increase in consumer base for virgin mobile.
- 26. In order to enhance customer satisfaction, time gap between services sought and delivered should be minimized.
- 27. EXHIBITS:
- 29. Questionnaire for target customer’s expectation:
- 35. REFERENCES:
- 38. 3. The Marketing Management Book by Mr.Rajan Saxena
- 39. 4. Marketing Management by Philip Kotler