2014- guidelines -industry issue updates
DESCRIPTION
2014 guidelineTRANSCRIPT
Guidelines for Industry Issue Updates I&2
The industry issue update guidelines given below are about analyzing a selected industry on the processes of:
(a) Understanding and Creating value OR (b) Understanding and Delivering value.
The industry issue update could be developed in two parts. In Part I you may select and analyze the business market processes and the opportunities/challenges involved for a specific business market offering made by a firm for a specified customer segment or multiple segments. Based on the part I analysis, which involves understanding the value in depth you may decide to focus on one of the processes of creating or delivering value in Part II.
PART I: Analysing Business Market Processes in a selected business market & Understanding Value Selecting the study context Select a business to business market, firm and a specific market offering for the exercise. You may choose to do the exercise based on a live project or based on data from secondary sources. Preliminary Study: Understanding the context Do a preliminary study to understand the business challenges as well as the business opportunities for the selected business market offering, the business unit and the business market at large. Groups may choose to examine either the process of creating value or the process of delivering value in depth. In either case the first step is to understand the value delivered to the customer and the possibilities for improvement in creating or delivering value. Understanding Customer Value In this section, comment on the current understanding of customer value by the business unit with respect to the market offering selected for the study.
• What is the value currently delivered to the customers? • Create a value model and value proposition for the offering, as is offered
presently. • Will better understanding of value in monetary terms relative to the next
best offer help organisation in crafting marketing strategy, creating customer value and delivering value effectively? How?
• Critique the current marketing strategy/ plan of business unit / market offering selected and formulate an alternate marketing strategy to address the key concerns.
• You may include information related to marketing sensing like defining the market, monitoring the competition, assessing customer value and gaining customer feedback (Refer chapters 1‐4 of the text)
Part I: Initial discussion on October 7, Tuesday in the session reviewing understanding value. You may submit a two page write up on understanding value for a selected business market offering of a firm.
Part II: Creating Value or Delivering Value
In Part II, you may either choose to focus on the processes of creating value or delivering value
A. Creating Customer Value (IIU‐1)
B. Delivering Customer Value (IIU‐2)
A. Creating Customer Value‐ Industry Issue Update 1
(a) Assessing Current scenario • Describe the process of creating value in developing new products or
supplementary services practiced in the selected firm or the business market at large with reference to a selected offering.
• What are the challenges the organisation/ business market faces in creating &realising value from new market offerings? How is technology and market strategy getting aligned in the customer value creation process? What are the possibilities for improvement?
• How can current offerings be made flexible to deliver superior customer value and realise higher value at the same time?
(b) Understanding best Practices in the industry & possibilities for improvement
• What are the best practices in the Indian / Global industry in understanding, creating and delivering value? Give examples.
• Explain a few successful strategies relevant to the selected project topic in understanding, creating and delivering value employed by firms in the Indian/ global Industry
• You are encouraged to conduct interviews with a few practitioners in the selected industry to understand successful practices and include it in this section.
(c ) Recommendations
• What are your recommendations in improving the role of marketing in the process of creating value?
• Are the suggestions actionable? What resources and support would you need to make it work?
Submission Date for IIU‐ 1 on Understanding and Creating Value,‐ On day prior to Session 19,20
B. Delivering Customer Value‐ Industry Issue Update 2
(a) Assessing Current Scenario • Describe the process of delivering value in the selected firm or the
business market at large with reference to a selected offering. • How can the process of gaining new businesses be improved? What are
the current challenges? • How can customer share/ customer loyalty be improved by focussing on
delivering superior value?
(b) Understanding best Practices in the industry & possibilities for improvement
• What are the best practices in the Indian / Global industry in understanding and delivering value? Give examples.
• Explain a few successful strategies relevant to the selected project topic in understanding and delivering value employed by firms in the Indian/ global Industry
• You are encouraged to conduct interviews with a few practitioners in the selected industry to understand successful practices and include it in this section.
(c ) Recommendations: • What are your recommendations in improving marketing effectiveness
at BEL on the topic chosen for the project? • Are the suggestions actionable? What resources and support would you
need to make it work? Submission Date for IIU 2 on Understanding and Delivering Value: One day prior to session 27,28.
Submission of the Industry Issue Update:
The report should be 10‐12 pages in length (word document, single spacing, Times New Roman, fontsize 11, one inch margin on all sides) and may focus on Creating value through new market offerings or managing current offerings or Delivering value (gaining customers and sustaining customer relationships). The sections on creating value or delivering value need to be included depending on the exercise selected. In the introductory chapter you may give a brief description of business market scenario as explained in the initial part for this write up. The report should include the following sections; however you may make appropriate changes as required.
1. Introduction: Project Context and Current Business Scenario
2. Understanding Value Defining the market, monitoring the competition, assessing customer value and gaining customer feedback
3. Creating Value [OR Delivering Value]: Process , Practice and Challenges
4. Creating [OR Delivering Value]: Best Practices
5. Recommendations
Annexures
Interview Transcript ( you are encouraged to conduct an interview of a manager in the business market around the process of creating or delivering value and include this in annexure; page limit restrictions do not apply to annexures)