Marketing

PGCHRM # 27 – Group Project

Under the learned guidance of Dr. Venugopal

10/2/2019

118840 - P Lakshmi Manoja 239241 – Kruti Doraiswami

RH19041 – Christopher Menezes 118352 - Naga Raju M

RH19075 – Rohan Shetye

Aon 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 are virtually communicated through
electronic mediums 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 a 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 is designed to help 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
user 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 users 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
 Hassel & Stress Free – Communicate especially in metros can be hectic and stressful. No
commute would mean
 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, they can focus better on 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 large extent.
 Administer free – The 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 VHRO provids 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

under Control

Commute-Free

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

Huge Cost Savings

. • Individual

Savings on . • Organizational
foreign currency
. • Societal

Brand

The 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

Price
The product brings in technological disruption to the way we work and will impacts the life of
many people in corporate and government sectors. It has ample ways in which both the employee
and employer can benefits, resulting in increased profits, productivity and saving time.

Considering the previously mentioned benefits it offers for individual and organization, we can
predict that companies and individuals would prefer the virtual setup over the traditions ways.

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

Pricing Component Details Price

Physical devices Projector-cum-Interactive communicator & INR 65,000/- per pack.
Screen
Technology Cost Member user subscription for technology, which INR 500/- per month
also includes post sales tech-support per user

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