Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and...
-
Upload
derick-mccormick -
Category
Documents
-
view
231 -
download
3
Transcript of Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and...
![Page 1: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/1.jpg)
Ghulam Mustafa Qazi, FCMAVice President ICMA Pakistan
Managing Partner, TQMC, Financial and Management Consultants
Emerging Trends in Business Development of Professional Services
![Page 2: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/2.jpg)
Today’s Business Scenario
* World has turned into Global Village
* Technology has changed everything
* Traditional methods of doing business have changed
* Communication is fast
* Internet has become a need of everyone
![Page 3: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/3.jpg)
Target Markets have shifted
• Only 20 years ago, a business owner used to promote his/ her products in his/ her city or country.
• Touching global market was difficult• But now he/ she can approach customers across
the globe while sitting in office anywhere… Customer is one click away
![Page 4: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/4.jpg)
Services Defined
*Intangible products such as accounting, banking, cleaning, consultancy, education, insurance, expertise, medical treatment, or transportation.
*Sometimes services are difficult to identify because they are closely associated with a good; such as the combination of a diagnosis with the administration of a medicine.
![Page 5: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/5.jpg)
Business Services
*Business service is a general term that describes work that supports a business but does not produce a tangible commodity.
* Examples include information technology, insurance, accounting and consulting.
![Page 6: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/6.jpg)
Core Marketing Concepts
![Page 7: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/7.jpg)
Branding
![Page 8: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/8.jpg)
Services Brands
![Page 9: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/9.jpg)
![Page 10: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/10.jpg)
Use of Smart Phones
*53% of Americans are now owning smartphones
*The amount of time people spend on a mobile device is growing at 14 times the rate of desktop usage.
*Mobile is becoming a more prominent channel for commercial transactions
![Page 11: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/11.jpg)
TangibleDominant
IntangibleDominant
SaltSoft Drinks
DetergentsAutomobiles
Cosmetics
AdvertisingAgencies
AirlinesInvestment
ManagementConsulting
Teaching
Fast-foodOutlets
Fast-foodOutlets
Tangibility Spectrum
![Page 12: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/12.jpg)
Some Characteristics of Services
*No transfer of possession or ownership takes place when services are sold
*Intangible -Cannot be stored or transported
*Heterogeneous – Cannot be replicated
*Are instantly perishable
*Come into existence at the time they are bought and consumed.
*Pricing of Services is a difficult subject
*Quality is subjective and their perception varies by recipient
*Service delivery is different from products delivery
*Mass production of services is difficult
*Unlike products, services cannot be returned or resold
![Page 13: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/13.jpg)
Challenges for Services Business
• Defining and improving QUALITY• Communicating and testing new services• Communicating and maintaining a
consistent image• Motivating and sustaining employee
commitment• Coordinating marketing, operations and
human resource efforts• Setting prices• Standardization versus personalization
![Page 14: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/14.jpg)
Services- Key Challenges
*Service Management: Delivering the expectations
*Difficulty in relating services to financial benefits
*Customer Satisfaction
*Quality: Maintenance, proving quality
*Customer retention
*Investment in research
![Page 15: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/15.jpg)
Key Challenges
*SME Sector generally does not understand the significance of service need
*Large enterprises prefer international/ large service providers
*Marketing is difficult
![Page 16: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/16.jpg)
Key Challenges
*Keeping up with new technologies
*Retaining key human capital when required
*Availability of human capital
*Pricing
*Gaps in assessment of deliverables
![Page 17: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/17.jpg)
Managing Challenges
*Understand the expectations/ deliverables
*Discuss before you proceed
*Get the deliverables and needs signed by client (Terms of reference, Requirement Specifications, Contract)
*Assess the skills available
*Carefully select Project Team
*Commit only what you can deliver
![Page 18: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/18.jpg)
Factors Influencing Customer Satisfaction
• Relationship with Client• Quality of Service• Achievement of Client’s objectives• Price-Value perception
![Page 19: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/19.jpg)
Achieve Customer Satisfaction
*Discuss and explain what has been delivered
*Explain the associated benefits- long-term as well as short-term
*Associate the financial benefits (cost saving, client retention etc.)
*Respond to questions
*Follow-up
*Send relevant information (newsletter)
![Page 20: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/20.jpg)
Innovation
*“fresh thinking that creates value” Richard Lyons
*“new products, business processes and organic changes that create wealth or social welfare”.. OECD
*change that creates a new dimension of performance.. Peter Drucker
*Innovation is converting ideas to numbers
![Page 21: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/21.jpg)
Why Innovation?
*To look different/ better
*To serve customers’ needs more efficiently
*To be market leader
![Page 22: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/22.jpg)
Be Innovative
*Keep up with latest development/ research
*Offer something different from your competitors
*Present innovatively
![Page 23: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/23.jpg)
Marketing & Promotion
![Page 24: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/24.jpg)
Internal Marketing
Interactive Marketing
External Marketing
Company(Management)
CustomersEmployees
“enabling thepromise”
“delivering the promise”
“setting thepromise”
Services Marketing Triangle
![Page 25: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/25.jpg)
Company
CustomersProviders
Technology
The Services Triangle and Technology
![Page 26: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/26.jpg)
Expanded Marketing Mix of Services- The 7
Ps
• Product• Price• Place• Promotion• People• Process• Physical Evidence
![Page 27: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/27.jpg)
PRODUCT PLACE PROMOTION PRICE
Physical good features
Channel type Promotion blend Flexibility
Quality level Exposure Salespeople Price level
Accessories Intermediaries Advertising Terms
Packaging Outlet location Sales promotion Differentiation
Warranties Transportation Publicity Allowances
Product lines Storage
Branding
Expanded Marketing Mix for Services
![Page 28: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/28.jpg)
PEOPLE PHYSICAL EVIDENCE
PROCESS
Employees Facility design Flow of activities
Customers Equipment Number of steps
Communicating culture and values
Signage Level of customer involvement
Employee research Employee dress
Other tangibles
Expanded Marketing Mix for Services
![Page 29: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/29.jpg)
Gaps in Service Quality
PerceivedService
Expected Service
CUSTOMER
COMPANY
CustomerGap
GAP 1
GAP 2
GAP 3
External Communications
to CustomersGAP 4Service Delivery
Customer-Driven Service Designs and Standards
Company Perceptions of Consumer Expectations
![Page 30: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/30.jpg)
* Customer Gap:*difference between expectations and perceptions
* Provider Gap 1:*not knowing what customers expect
* Provider Gap 2:*not having the right service designs and standards
* Provider Gap 3:*not delivering to service standards
* Provider Gap 4:*not matching performance to promises
Gaps in Service Quality
![Page 31: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/31.jpg)
Customer’s Zone of Tolerance
Adequate Service
Desired Service
Zone ofTolerance
Varies from Customer to Customer and Type of Service
![Page 32: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/32.jpg)
Factors Influencing Customer Satisfaction
• Relationship with Client• Quality of Service• Achievement of Client’s objectives• Price-Value perception
![Page 33: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/33.jpg)
Outcomes of Client Satisfaction
• Retention of client• Positive word-of-mouth communications and
Referrals• Increased revenues
0%
20%
40%
60%
80%
100%
Verydissatisfied
Dissatisfied Neithersatisfied nordissatisfied
Satisfied Verysatisfied
Satisfaction measure
Lo
yalt
y (r
eten
tio
n)
![Page 34: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/34.jpg)
Presence on Web
* Having a dynamic website
* Online Selling
* SEO
* Emails
* Blogging
* Forums
* Etc..
![Page 35: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/35.jpg)
Some New Ways to Marketing
Social Media Marketing* Linkedin .. Company page, ads
* facebook, ..Pages, Groups, Ads
* Youtube… Product/ Services videos
* Skype .. Online calling, meetings
* ebay .. Online selling
* Twitter.. Promotions
* OLX
* Regularly Update …
![Page 36: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/36.jpg)
![Page 37: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/37.jpg)
Marketing Online
* Register on Business Directories
* Search Engine Registration
* List Your Products with Shopping Comparison Bots and Auction Sites
* Online paid marketing
* Pay per click
* Google Ad words etc.
![Page 38: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/38.jpg)
Email Marketing
* Quick contact
* Professional Design
* Effective Message
* Email signatures
* E-marketing outsourcing
* Avoid Spamming
* Newsletters
* Blogs and Articles
![Page 39: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/39.jpg)
![Page 40: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/40.jpg)
Visiting Cards
* Visiting Cards
*Traditional cards
*Mention your website, email, facebook, linked, skype links
* eVisitng Cards--- Your introduction*Profile
*Products and services
*Contact details
![Page 41: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/41.jpg)
Online Selling
* Web portal
* Selling Globally
* Online payments
* Home Delivery
![Page 42: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/42.jpg)
Other Strategies
* Events, contests
* Referral Schemes
* Online meetings and Video Conferencing
* Offer something free
![Page 43: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/43.jpg)
Online Consulting/ Outsourcing
![Page 44: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/44.jpg)
Write Online
* Blogging
* Articles Writing
* Online response to queries
![Page 45: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/45.jpg)
International Affiliations always Pays
![Page 46: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/46.jpg)
Take Care of Your Team
* Employees are your Assets
* Motivate them
* Reward them
* Teach Them
![Page 47: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/47.jpg)
Other Tips
* Develop personal relationship with clients… make client your FRIEND
* Discuss about business and related issues he is facing
* Visit them frequently… have a cup of tea or coffee with him
* Invite clients to your office
* Know and share new developments and resulting requirements of clients
![Page 48: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/48.jpg)
Be Sincere
Always be sincere to yourself and your clients. Give them best advice
![Page 49: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/49.jpg)
And FINALLY
* Reward yourself
* Focus on Your Family
* Avoid Tensions
* Be HAPPY
BECAUSE
YOU are the Most Important Person
![Page 50: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants.](https://reader036.fdocuments.in/reader036/viewer/2022062309/56649e0b5503460f94af3b81/html5/thumbnails/50.jpg)
Thank You