Marketing

PGCHRM # 27 – Group Project

Under learned guidance of Dr. Venugopal

8/25/2018

118840 - P Lakshmi Manoja 118780 – Dorthy Elezabeth

RH19041 – Christopher Menezes 118352 - Naga Raju M

118746 – Nasreen Noorullaila

A on Report exemplifies as a product, the segmentation of the product, Brand name & Sales
Promotion strategies along with Product mix of Product, Price, Place & Promotion
Contents
Introduction ............................................................................................................................. 3
The Product.............................................................................................................................. 3
Benefits ............................................................................................................................................ 4
Brand ........................................................................................................................................ 5
Segmentation ............................................................................................................................ 5
Sales Promotion & Positioning............................................................................................... 6
Product Mix ............................................................................................................................. 7
Price ................................................................................................................................................. 7

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Introduction

The implementation and subsequent promotion of the “Virtual HR Office” is explained as a

“solution offering” to any organization. While the concept is detailed in following sections of the
document, this report also aimed to discuss Segmentation of the product and service; Brand Name
which is VHRO (Virtual Human Resource Office); Sales Promotion strategies along with Product
mix - Product, Price, Place & Promotion.

With VHRO, human resource needs, queries or transactions is virtually communicated through
electronic medium using technology as opposed to brick and mortar office set-up. These Virtual
interactive offices help avoid commute time, increases productivity, cuts-down on overhead costs,
increases productivity and above all & most important aspect produces low turn-over rate. In those
businesses where technology truly allows you to work from anywhere, a virtual office offers a
strong alternative to a traditional office environment.

The Product

Virtual Human Resource Office is a Technological Service, which is combination of various

technologies such as Collaborative Communication Technology (CCT), Virtual Reality (VR) & 7
Dimensional (7D) together as a patented product. The product is aimed to enable the workforce to
attend the regular day to day work without physically being present in the specific physical offices,
yet not compromising on the benefits of not being physically present. Office space to lease / own is
considered as one of the top fixed cost for organizations, eliminating this would mean considerable
increase in top line profits for any organization,

The patented technology helps the users to connect among the work force of specific organization
or division or department or function using 7 Dimensional real-time video technology, which
creates a feel of physical presence among the group.

The Collaborative Communication

Technology (CCT), helps the users to
seamlessly communicate among the
defined group. Live steaming 7D
technology along with VR helps the
users to assess mandatory trainings,
HR interview, Rewards and
Recognition via virtual townhalls.
Thus, the interactions can happen
only as per the convenience of both
the parties or multiple parties (as the
case may be), so that the target user
work doesn’t get disturbed as we see
in real office environment. CCT helps
to speak, present & exchange the data on real-time basis.

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Thus, this technology does not compromise on the benefits of traditional offices such as – easy to
communicate, approaching as per parties convenience, physical presence.

Benefits
This disruptive product brings in multiple benefits to various segments of the society. The benefits
may broadly be categorised as Individual level, Organizational level & Societal level.

Individual Level

 Commutation – Since individual doesn’t not need commute, they are free from all the
problems related to commutation to work
 Time– Individual would be able to save time that is usually spent for commutation and the
same can be spent for either for family, friends & work.
 Money – Helps individual to save money that is spent for commutation to work

Organizational Level

 Productivity– Since individual doesn’t not need commute, they are free from all the
problems related to commutation to work
 Variable Cost– Individual would be able to save time that is usually spent for
commutation and the same can be spent for either for family, friends & work.
 No need to lease offices– One of the bigger problem for the business enterprises today is
taking office on lease or owning it; this product eliminates that need to a larger extent.
 Administer free – Organisation enjoys the benefits of administration free office as the
technology throws the reports as & when needed.
 Office composition – Since the technology allows the organization to compose a set of
users into one specific office, Organization can change the composition as per the business
needs that may change from time to time.
 Talent Management – Organization would enjoy the benefit of managing the talent
without much effort. The technology helps to record & track the interactions of the
employees, which allows organization for Causal analysis of mishaps if any.

Societal Level

Beyond the Individual & Enterprise, the society is large beneficiary of this product. Wide
implementation of VRO throws lots of benefits to the society that includes but not limited to:

Pollution free environment

Lesser Infrastructure for Public & Private Transportation

Savings on Fuel, ultimately leads to increased foreign currency

Traffic under control in cities & industrial hubs.

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 Traffic under
control

No Infra cost Real estate

jiInfrastructure under Control

Commute-Free
Improved
Environme Productivity
Time
ntal Saver
friendly Saves
Variable Low Infra-
Money Transportation
Cost

Hassall-Free

Huge Cost Savings

. • Individual

Savings on . • Organizational
foreign currency
. • Societal

Brand

Company has decided to brand the product using the company

name, hence the brand name is finalized as YIVO, that stands for
Yauktika Interactive Virtual Office. Artistic design of Brand logo
that consists the name of the brand helps to position the brand
name into the market easily.

Segmentation

Although the common goal for all business centers is to rent out the space, the strategy can and
probably should be different for each space available. For each product the targeted audience may
be different. With marketplace dynamics and the competitive landscape shifting, workspace
operators need to re-evaluate their virtual office strategy if they want to accelerate virtual client
growth and boost revenue and profits.

This product is designed to address major challenges of commute to work & connecting across the
globe virtually without compromising on the benefits of actual presence. However, this product is
limited to the organizations where non-physical activities are carried by the employees (eg: Office

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work environments). In other words, this product doesn’t add value to the organizations where
employee physical presence is un-avoidable to conduct business transactions (eg; Manufacturing,
Construction & Engineering set-ups).

In light of the above, the segmentation can be explained as under:

• Two solutions can be offered to Large enterprises in Private sector

Large Enterprises- • A. For workforce - aimed to solve employee commute to work
challenges
Private • B. For Clients - to establish seamless connect with clients of large
multinationals - especially service sector.

SMB - Small & • This solutions helps SMB segmen to attract appropriate talent
Medium Businesses from the market

• Public sector undertakings, wherever employees doesn't need to

Public Enterprises carry out physical transactions.

• Administrative offices of various Governments, such as Local, State &

Central level.
Governments • However, the solution is not appropriate for those who deals with
public on daily basis.

Sales Promotion & Positioning

Strategy - Basis the segmentation explained above, the sales promotions are required to carried at
various levels. However, YIVO adopted a strategy, it has decided to offer 1 user account to
government at free of cost as against 3 sales mandated to public enterprises. The offer may
motivate Government to mandate this product to few public sector undertakings that are
controlled by Government.

Adoption of this technology by Public sector enterprises obviously show high impact on Private
sector and private sector will start adopting to this technology, which makes sales effortless for
YIVO.
Value Proposition &
Positioning

Individual Enterprise Societal

s
Commute Free work s
Productivity enhancement & Environmental benefits &
Cost effectiveness Quality Life

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Product Mix

Product Place Promotion Price

• One solution to • B2B connect • Emphasis on the • pay per login per
many problems - a benefits month
Virtual Reality • Tech expos /
Office: The patented exhibitions • Traditional Vs. • Minimal fixed cost,
pack of technology • Industrial summits Disruptive Variable cost
that enables Technology - Value • Most appropriate
employees of private Proposition for scale up & scale
& public enterprises presentation down strategies of
to connect virtually • No or minimal organization
without physically instracture
being present, yet •Low exit barriers
not compromising
on the benefits

Price
Since the product brings many changes in the lives of individuals; business enterprises would
certainly get adopted to the technology in view of the benefits of the product for individuals,
organizations & Society. This Product may also influence Governments to mandate this product
for few categories of employees such as working women & physically challenged work force, so that
these sections of the society will largely get benefited by avoiding the daily commute work place.

Pricing of the product has 2 components, as tabulated under:

Pricing Component Details Price

Physical devices Projector-cum-Interactive communicator & INR 75,000/- per pack.
Screen
Technology Cost Member user subscription for technology, which INR 5000/- per month
also includes post sales tech-support per user

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