Meridicom is currently the leader in broadband internet service, and TelZip is a mobile-phone company becoming a new player in the broadband market. It would be important for Meridicom to use their strengths of being a reputable, quality company and using that as an option to persuade their customers. Meridicom faces the risk of losing a large share of business customers.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. It has largest market share in landline and broadband but very small presence in mobile services.
Its major competitors which include big mobile companies, cable TV operators and internet providers follow lead as per the prices set by Meridicom.
The customers largely being affected in this case are the business users which are currently paying around Euros per year to Meridicom.
Though the customers might be enticed by the low cost services, the cost of switching involves changing the landline services as well as the uncertainty about the network speed and services offered. If Meridicom follows Telzip in providing free services, it is not only killing a high revenue making unit, but also forcing other competitors to dive into the price war.
For this very reason, the customers tend to be loyal to Meridicom.
However, there seems to be a disconnection between the three units internally. Rather than thriving to achieve the company goal of building the best brand with highest market share, each unit is concerned with maintaining its own revenues.
Telzip has timed their pricing policy in the month of August which is not a time for most of the businesses to make decisions on their broadband subscriptions since the subscriptions are usually year long.
This buys some time for Meridicom to implement the service improvements and regain and maintain the loyalty amongst the customers. Recommendations Service Integration Rather than Meridicom following Telzip and engaging in the price war, we recommend that the three units work in more integrated fashion to provide better customer experience.
Since the Mobile unit head seems to be on the same page, the broadband unit can integrate the billing and the customer service with them. In return, the broadband unit can provide the customers with joint promotional offers.
The mobile plans are usually slower yet costlier than the high speed traditional broadband services. The broadband unit can provide discount to the customers based on their mobile service plan usage.
In the long run though, the strategy should be to convince the landline unit heads for an integrated service. Senior management is already convinced that the loss of broadband market share would indirectly result in loss of the landline share as well.
Customer Care and Feedback Meridicom should have customer care representatives that are more knowledgeable and responsive to the needs. Customer complaints should be dealt as soon as possible and feedback gathering mechanism should also be put in place.
Data Security Given the competitive environment and the sensitivity of the data that the companies might be dealing with, data security and privacy is a major concern for the business users. Having used Meridicom services for a longer time, business users trust them more.
Meridicom can question the data security being offered by the cheaper broadband alternatives and at the same time ensure that they promote the reliability and security of their network in handling the sensitive information pertaining to the business users.
Segmentation Business strategy should be different for individual and business customers. Business customers value safer and uninterrupted service and they can pay more to get safe, reliable and uninterrupted service.
Attractive value addition services and good customer service is necessary to attract individual customer.
They will be more worried about their bill and to avoid giving them uneasy surprises company can provide them reminders of their service expiration and customers should be able to know in advance what his bill going to look like. Value added services Value added services will satisfy current customers, it will attract new customers also.
They can start benefits scheme according to the usage by customers. For business customer they can start plans for providing better conference calls and video conferencing facility.
Loyal landline customers can be given discounts in services and also free mobile connection. Company can offer latest smart phones with their cost distributed evenly for a period to relieve customer from bearing the heavy cost of the phone.
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