Holistic marketing framework

Because markets are dynamic and competitive, management needs a well-defined strategy for value exploration. Developing such a strategy requires understanding the connections and interactions among three spaces: the customer’s cognitive space, the company’s competency space, and the collaborator’s resource spaces. To exploit a value opportunity, the company needs value creation skills. Marketers need to identify new customer benefits from the customer’s cognitive space, utilize core competencies from its business domain, and select and manage business partners from its collaborative network.

Value exploration- Saudia S alam identifies the new value opportunities to serve the market. * The customer’s cognitive space- there are many customers found who are not satisfied with the service offered by the transportation company. They have many unmet demand that Transportation Company is unable to satisfy for example varieties song and radio listening options, good stereo headphone, extra wide and comfortable coach with body message option available.

Other transportation have this kind of service but it does not meet the customers expectation as there is always fault found by the consumer, such as the many consumer found that the coach is not much comfortable and there is no option of listening songs either television to watch movie. However, Saudia S Alam is providing all kinds of facilities the consumers are opt to pay for. They can listen to music, watch movie of their own choice and after every forty-five minutes, they will spray air freshener bottles of mineral water etc.

The consumers of Bangladesh like the brand Mercedes Benz. They feel that many people do not have the money to buy a Mercedes of their own but still they can ride in Mercedes that satisfy the transporter a lot. * The company’s competency space- * The collaborators resource space- the two companies S Alam and Saudia merge together to exploit related marketing opportunities. They took the competition at a higher scale as the consumers are riding on Mercedes Benz. The brand is popular and all the travelers of Bangladesh prefer it to other brands.

After merging of the two companies, they gain competitive advantages of others in terms of serving their customers resulting a growth market share and profit. The reason is that they are providing better facilities to their travelers than the other transportation company does. Value creation * Customers benefits- Saudia S Alam Transportation Company identifies the main benefits of the customers, what they want, what they are actually looking for as a core service and want they are worries about.

They identified that their customers want a good transportation service without any hectic in the middle of the journey. They want a journey to be memorable with lots of entertainment. The company told that the customers’ expectation is high from them because the vehicle is Mercedes Benz so the service must be the quality of high standard. Saudia S Alam provides with all sorts of facilities that travelers want from a good company. They also make sure that their customers arrived on time to their destination.

The company also claimed that once a customer experienced their service become repeated customer. * Business domain- As the two company merged they have the competitive advantage over others. They have sufficient human resource, capital, technology, and skilled employees to handle the task more efficiently. After merging, they only kept the efficient employees in their company with more technical and marketing knowledge. The staffs are highly specialized in doing their task. They hire only trained employees and make sure they have good communication skills to interact with the travelers.

These efficient people are only hired because of meeting and fulfilling the core needs of the market segments. * Business partners- Two of the country’s long distant bus companies, Saudia and S Alam, have joined together to bring 100 Mercedes’ Benz coaches worth around Tk150 crore to Bangladesh as the battle for luxury class passengers on the country’s main highways intensifies. They select each other as a partner because as individual, they are highly competitive and both the company revenues and profit were almost same.

Therefore, the owner of both decided to do business together to make the competition in the industry to a higher level and to make more profit. They have realized that they can do much better business by combining both the company’s resource. The S Alam Group and Mostofa Group, parent organizations of S Alam and Saudia Coach Service signed the deal with shareholding position of 50: 50. Saudia S Alam has contract with the rangs motors and they supply the buses. They also have other business partners which supplies them the mineral water electronic devices that are installed with the coach etc.