Telenor Serbia Case Study Questions and Answers
Telenor offering financial services in Serbia
The country’s high internet connectivity provides an opportunity for offering m-payment services. It would be easier to leverage Telenor’s clientele and expand across their network (Niessing & Plassmann, 2017).
Opportunities and Risks
Serbia has high internet accessibility among its consumers promising commercial potentiality. Mobile expertise in Serbia is beginning to gain traction and dominance, and there is a future possibility of mobile usage crowding. Online banking activities in Serbia are deficient because many individuals are not accustomed to the online purchase of services or commodities. Telenor should offer retail banking facilities in Siberia, but target mobile banking.
The approach would be formidable because banks in Serbia have significant paperwork with inaccessibility by some clients. Customers endured long hours in queues and were frequently sent back due to improper documentation. Telenor aimed at revolutionizing the banking sector by reducing banking costs. Despite many Serbians not being acquainted with internet banking services, Telenor wanted banking activities to be easy, quick, and fun (Niessing & Plassmann, 2017).
Target Segment by Telenor
A distinct group chosen by Telenor will be urban residents who amount to seventy-three percent of the population, fifty-one percent are females, and three-quarters of the whole population employed. This target group had a wide spread of ages. They embrace change; can take on risks and challenges. These people are comfortable in acquiring loans for purchases of consumer commodities (Niessing & Plassmann, 2017). The group has a fitted financial schedule and is non-hesitant in taking on investment with optimistic returns. They embrace computers and are at ease with mobile applications and internet operations. The sector constitutes 13% of the whole population. This segment is of great interest to Telenor Group as it has a ready internet banking consumers (Vanka, 2011).
A good brand positioning strategy should be focused on exploiting consumer significance and economic uniqueness. These distinct values make you outstanding among your rivals in service delivery and the quality of services provided. Telenor Company should focus on building a make around two props, fast and uncomplicatedness. Because of international internet trends, these two give them the competitive advantage against their business rivals in Serbia. Telenor should put its emphasis on the provision of even user understanding in the whole internet banking process and easy to use by everyone (Živković & Vojinović, 2018)
Telenor is a well-known company with branches in many countries. Telenor logo has an excellent reputation with exemplary services associate associated with it. The use of a phone product could obscure several consumers, rising uncertainties in Telenor professionalism, which can compromise its integrity. Regardless of operational costs and registration constraints associated with creating a new brand, Telenor should not get under a bank providing it with a user interface; this helps in evading negotiation burdens with prevailing banks.
Products and service offering: Telenor should enhance service delivery by opening branches with tellers, managers, and ATMs. It is to increase the target market in urban and rural areas with a ‘mobile banking desk.’ The provision of mobile banking will be widespread by making several branches.
Communication plan: Communication and marketing strategy are key factors leading to the development of newly launched products or services. The communication strategy chosen should be fast and able to reach a wide range of consumers within the target geographical location. Therefore, paid media like radio and television is advisable to reach many consumers both in rural and urban centers.
Core message: Consumers should be provided with information about the provision of transaction alerts, management of insurance policy, and ease of access to account statements. There should be ease of interactions with ATMs, bank employees (Perić, 2020).
Pricing: The mobile internet banking offered should offer low costs associated with transactions and service delivery, as consumers tend to shift to banks offering low fees. The mobile banking strategy should cost per transaction offer.