Continuous assessment 2
(GROUP ASSIGNMENT)
Course Code: MKTM677
Submitted to
Mr. RAJEEVGUPTA
Submitted by
Name Registration no.
Raju Kumar 12008499
Akshat Kumar Gupta 12005744
Mridul Gupta 12011282
Gowtham Raj 12218577
Muhammad Saqib 12210783
Akash Yadav 12019622
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Peer Rating
RAJU KUMAR 10
MIRDUL GUPTA 10
AKSHAT KUMAR GUPTA 7
SAQIB 10
GOWTHAM 10
AKASH YADAV 10
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In simple words Churn rate refers to the percentage of customers or
users who stop using a product or service over a specific period of time.
It measures customer retention and helps companies understand how
many customers they are losing.
Furthermore, Churn rate is a metric that tells us the percentage of
customers or users who bid farewell to a product or service within a
particular time frame. It's like a measure of customer retention, giving
companies insights into how many customers they're losing. In simpler
terms, it helps them understand how many people are saying goodbye
and moving on. So, a high churn rate could mean that a lot of customers
are leaving, while a low churn rate indicates that customers are sticking
around.
THINGS TO PREVENT CHURN RATE:
1) Excellent customer service: We should improve our customer service so that we
can help clients promptly and easily if they have any concerns or problems with
their orders. This will aid in the resolution of issues before they lead to start
neglecting our services.
2) Content Optimization: To keep consumers engaged, invest in greater content
creation and better content discovery.
3) Advertisement:Focus on advertising material that generates peak viewership and
consider growing your content repository.
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From our recent survey we came to know that out of 10 members 7 has
renew their membership of our jio services like Jio cinema,Jio TV,Jio
Saavn etc.
Why should customers get their membership?
Renewing your Jio Reliance subscription brings a bunch of awesome
benefits! Customers will have access to high-speed internet, unlimited
calls, and a wide range of entertainment options like JioTV, JioCinema,
and JioSaavn. It's a complete package for staying connected and
enjoying your favorite content.
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Furthermore,Renewing Jio Cinema membership comes with some great
perks! Customers get access to a vast library of movies, TV shows, and
exclusive content. Plus, they can enjoy it all without any annoying ads.
It's like having a personal theater at your fingertips!
Stakeholder Management Plan for Jio Reliance:
1. Executive Leadership:
- *Role:* Provide strategic direction, approve budgets, and set high-level goals.
- *Communication Channels:* Monthly executive meetings, quarterly strategy
reviews.
- *Strategy:* Share concise performance reports and align product initiatives
with business objectives.
2. Product Development Team:
- *Role:* Develop and maintain digital products and services.
- *Communication Channels:* Daily stand-up meetings, project management
tools (e.g., JIRA, Trello).
- *Strategy:* Frequent updates on project progress, prioritize features based on
customer feedback.
3. Marketing and Branding Team:
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- *Role:* Promote Jio services, create marketing campaigns, and maintain brand
image.
- *Communication Channels:* Bi-weekly marketing meetings, content calendar.
- *Strategy:* Share product roadmaps, customer insights, and coordinate
campaign launches.
4. Customer Support and Service Team:
- *Role:* Address customer inquiries, resolve issues, and ensure quality service.
- *Communication Channels:* Daily updates, customer support ticketing system.
- *Strategy:* Provide regular feedback from customers, common issues, and
suggestions to the product development team.
5. Sales and Distribution Team:
- *Role:* Drive sales, distribution, and partnerships for Jio products.
- *Communication Channels:* Weekly sales meetings, CRM system.
- *Strategy:* Conduct product training, gather market insights, and relay
customer demands to the product team.
6. Customers and End-users:
- *Role:* The primary users of Jio services and products.
- *Communication Channels:* Surveys, feedback forms, social media, Jio
customer app.
- *Strategy:* Gather feedback regularly, conduct user testing, and involve them
in beta testing.
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7. Regulators and Government Agencies:
- *Role:* Ensure compliance with telecom and digital regulations.
- *Communication Channels:* Legal reviews, compliance meetings.
- *Strategy:* Keep them informed about product changes and regulatory
compliance updates.
Communication Strategy for Jio Reliance:
1. *Regular Updates:* Provide regular updates to all stakeholders through email
newsletters, executive reports, and team meetings. Highlight progress,
achievements, and upcoming milestones.
2. *Feedback Channels:* Establish multiple feedback channels such as surveys,
dedicated feedback sessions, and a customer support hotline to ensure stakeholders
can easily share their opinions.
3. *Transparency:* Maintain transparency in decision-making processes, feature
prioritization, and product roadmaps. Share detailed product roadmaps and release
notes.
4. *Customized Communication:* Tailor communication to suit each stakeholder's
needs and preferences. Executives need high-level summaries, while developers
require detailed technical updates.
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5. *Issue Resolution:* Address issues or concerns promptly, providing clear
resolutions and timelines for action. Ensure customer satisfaction remains a top
priority.
6. *Two-way Communication:* Encourage open dialogue and actively listen to
stakeholder input. Make stakeholders feel heard and valued.
7. *Conflict Resolution:* Implement a structured conflict resolution process
involving relevant parties to address disagreements effectively.
8. *Training and Onboarding:* Ensure stakeholders have the knowledge they need
to interact effectively with Jio services through training sessions and informative
documentation.
9. *Documentation:* Maintain a centralized repository for essential documents
such as project plans, meeting minutes, and compliance reports accessible to all
stakeholders.
10. *Review and Adapt:* Periodically review and adapt the communication
strategy based on feedback and changing project dynamics, ensuring it remains
effective.
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jio reliance product iteration and improvement
• Network Infrastructure: Jio has consistently worked on expanding and
upgrading its 4G network infrastructure to provide better coverage and faster
data speeds. They have also been actively testing and planning for the rollout
of 5G services in India.
• Affordable Data and Voice Plans: Jio revolutionized the Indian telecom
market by offering affordable data and voice plans. They regularly
introduced new tariff plans and bundled services to attract and retain
customers.
• Digital Services: Jio launched a suite of digital services under the Jio Apps
umbrella, including JioTV, JioCinema, JioSaavn, and JioNews. They
continuously improved these apps and introduced new features to enhance
the user experience.
• IoT (Internet of Things): Jio aimed to expand its presence in the IoT space,
offering solutions for smart homes, smart cities, and industrial IoT
applications. They worked on developing IoT platforms and solutions to
cater to various industries.
• Jio Fiber: Reliance Jio introduced Jio Fiber, a high-speed broadband
service, and worked on expanding its reach. They offered a range of plans
with varying speeds and introduced new features like content streaming,
gaming, and home automation.
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• Retail and E-commerce: Through its subsidiary, Reliance Retail, Jio was
working on integrating its digital services with retail and e-commerce. They
aimed to create a seamless online and offline shopping experience for
customers.
• Healthcare and Education: Jio was exploring opportunities in the
healthcare and education sectors by leveraging technology. They aimed to
provide digital healthcare services and online education platforms to reach a
wider audience.
• Green Initiatives: Jio had shown a commitment to environmental
sustainability and had been working on reducing its carbon footprint. They
aimed to make their operations more energy-efficient and eco-friendly.
• Partnerships and Alliances: Jio formed strategic partnerships and alliances
with various companies to enhance its product and service offerings. For
example, they partnered with Facebook to develop WhatsApp-based
payment solutions.
• Customer Feedback: Jio has been receptive to customer feedback and made
improvements based on user suggestions. They regularly conducted surveys
and sought input to enhance their offerings.
jio reliance gamification
• JioGames: Jio offered a platform called JioGames that featured a variety of
mobile games. Users could compete with friends, participate in
leaderboards, and earn rewards for their achievements within these games.
This encouraged users to spend more time on the Jio network.
• MyJio App: The MyJio app, which serves as a one-stop destination for Jio
users to manage their accounts and services, often featured gamified
promotions and contests. Users could participate in quizzes, challenges, and
contests to win prizes, discounts, or data rewards.
• JioEngage: JioEngage was a platform where Jio users could participate in
various engagement activities, including quizzes, polls, and challenges.
Users earned points and rewards for their participation, which could be
redeemed for Jio services or partner offers.
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• Live TV and Sports: JioTV and JioSports apps sometimes featured
gamification elements during live sports events. Users could predict match
outcomes, answer trivia questions, and participate in interactive polls while
watching sports matches, making the viewing experience more engaging.
• JioMart: Reliance's e-commerce venture, JioMart, may have incorporated
gamification to incentivize shopping behavior. For example, users might
earn rewards or discounts for completing certain shopping challenges or
referring friends to the platform.
• Jio's Digital Services: Jio integrated gamification into various digital
services like JioSaavn, JioCinema, and JioNews. Users could participate in
music challenges, movie quizzes, or news-related games to earn rewards or
recognition.
• Reward Programs: Jio may have offered reward programs where users
earned points or badges for performing specific actions, such as making
payments through JioMoney, recharging their mobile accounts, or using Jio
services.
• Educational and Learning Apps: If Jio had educational apps or platforms,
they might have incorporated gamification techniques to make learning more
engaging for students.
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MARKETING STRATEGY
Jio Reliance entry into the telecom sector has been revolutionary as affordable
voice and data plans drive internet penetration and digital adoption in India.
However, Jio Mart, the e-commerce platform launched by Reliance Retail, faced
the challenge of competing against established players like Amazon and Flipkart.
Consumers initially found the service promising, but faced complaints about
product availability, shipping delays, and customer service issues.
Effective redressal of consumer complaints is crucial for Jio Mart and similar
companies. To ensure a seamless experience, Jio focuses on supply chain
management, inventory optimization and streamlining delivery processes.
By actively listening to customer feedback, solving problems, and continually
improving its services, Jio Mart can build trust and loyalty among its consumers,
thereby strengthening its brand reputation and paving the way for sustained success
in the competitive e-commerce landscape.
Jio, the telecom and digital services arm of Reliance Industries, enjoys a strong
presence on Twitter and leverages its large customer base and innovative offerings
to effectively engage with its audience. Jio provides customer support, provides
updates, and interacts with users through contests and surveys. Bharti Airtel, its
main competitor, is also very present on Twitter to promote its various products
and services.
Both companies use social media campaigns to engage with their audiences, with
Jio promoting exclusive content services through Jio TV and Jio Cinema and Airtel
focusing on network coverage and data speeds. Both companies understand the
importance of social media responsiveness in maintaining a positive brand image
and building customer loyalty. As the telecommunications industry continues to
evolve, both companies are likely to refine their social media strategies to remain
relevant and strong in the market.
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AARRR STRATEGY:
ACQUISATION:
After the commercial launch of Jio in September 2016, Jio offered free services to
its customers for 3 months. This plan acts as an asset for Jio to acquire customers.
In a month, Jio was able to attract 16 million subscribers.
ACTIVATION:
Users are provided with the best experience that no telecommunications service
provider has ever had. Unlimited high-speed 4G data and unlimited calling are
unimaginable to customers.
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RETENTION:
Jio doesn't stop there. On the occasion of New Year 2017, they extended the free
service for users for another 3 months. Jio has become the first telecom company
to offer 6 months of free service to its customers. In just two and a half years of
operation, Jio has acquired more than 300 million active subscribers. It took its
competitor, Bharti Airtel, more than 19 years to reach this figure. That is the power
of Jio.
REFFERAL:
Customers become his preachers. Jio is getting more and more business thanks to
positive customer reviews and user experience. This has benefited its tremendous
growth.
REVENUE:
By reducing prices to 1/10th of the current cost, Jio has taken the lead in revenue,
which is a key factor in achieving a quantum leap in the market.
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PRODUCT LAUNCHING:
PRICE:
One of the most attractive strategies, Jio adapts, is pricing strategies. Not
only the company offered a satisfying price to their various products for
individuals, but it also leads the in-vogue telecom market. Rival companies
also modified their pricing strategies when Jio introduced premium 4G
services at cheap prices. However, Jio has revised its latest tariff plans.
PRODUCTS:
Jio is providing telecom products and assistance with high-speed internet
Services and exclusive offers.
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PLACE:
By the various broadly spread circulatory channels, Jio products, and other
digital items are sold out at various Jio stores located in several cities in
India. Reliance Jio stores have evolved into India’s largest supply chain in a
short period of time that turns out to be an augmented platform for
distribution, incorporating a huge number of national and international
brands.
PROMOTION:
When it comes to making positive brand consciousness, Reliance Jio has
adopted a bit of an aggressive marketing strategy including launching ad
campaigns on television, radio, newspapers, magazines, and social media
platforms like Facebook, Twitter, and YouTube. They also have used stars
and celebrities’ power to do acting in their commercials ads and become
joined with their brand.
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