Introduction of Veelingo
This is the invention of a new service business plan for online language learning courses. Certain organizations are dealing with similar kinds of business but the brand VEELINGO is providing certain extra benefits which make it unique from other business sets. VEELINGO is the brand name that comes from two words that is Veel and Lingo. Veel represents many in Dutch whereas lingo stands for a foreign language or local dialect. So, the word VEELINGO means many foreign dialects under one roof. So, the brand VEELINGO is a language teaching brand that provides the students with the scope to become skillful and aware of the different languages which will be helpful for them in the long run.
With the advent of technology, students are becoming very much gadgets-oriented and waste their time playing games and scrolling down social media pages. They almost forget to utilize their time constructively. And another most important aspect behind the plan is that the parents do not have a proper setup where their children can get the scope to learn different languages with international certification.
The 7P’s of marketing stand for product, price, place, promotion, process, people, and physical evidence (1).
For a service business, the product refers to the service that the organization offers to the customers. Here the service is mainly a language learning course with adaptive vocabulary learning. The course will be starting with spoken English, German, French, and Spanish. The course will also provide an authentic certification system that will help the children in their long-term career growth. As the business will be based on the passion so there will be some of the uniqueness to stand out the brand which is called USP (Unique Selling Proposition. The USP of the business help the organization to stand out in the competitive market (4). This is a business that has many similarities with other brands but there is some uniqueness in the business.
- The live classes and separate doubt clearing session is something that will be giving the business an extra edge over the competitors.
- The price this business is charging is much more reasonable and affordable which will be attracting price-sensitive customers.
- This organization will provide the language learning opportunity interestingly and simply and also provide premium membership features like an advanced grammar lesson, offline learning, and adaptive vocabulary training.
Here the students need to register for certain courses and the one-time registration fees will be charged for £30. The price of the course is different based on the subjects. Such as the business provides the spoken English and French class for £65 and for the other two languages such as German and Spanish, the course fees will be £70. The price will be depending on the course duration as the courses will be available for 3months, 6months, and 1year.
From the R&D support, it can be stated that the growth of the online language course is huge and it is supposed to attain the growth near about 18.7% in the coming years. So, this course will not only confine within the country boundary but also cover the demand of the international students. The course will be available for not only national students but the international students also can avail the course as the course will be online. Students can join the course from their comfort zone.
This brand of online language learning course will promote its brand on social media pages such as Facebook, Instagram, and YouTube. They will be running a campaign to gain customers (2). The brand will also collaborate with local schools to make the parents aware of the existence of the brand. The brand will launch a YouTube channel where all the course details and new inventions will be mentioned so that they make the audience about their brand.
Challenges of Online Language Learning Courses for Children
This online language learning course will provide their students with live classes and doubt clearing sessions that will provide opportunities for the students to learn and grasp certain languages they have registered themselves. The faculty will also assist the children even after the completion of the courses. The process also comprises favourable time slot availability. Students can set their timing according to their comfort factors.
To attract the set of customers, Veelingo will follow this process flow chart for delivering their service which is language learning course for children. Here as the organization primarily belongs to the service industry, customer focus and the process or technique for delivery the service are the most important factors that should be taken care of. As the complete service is connected with the computer so IT support will be provided to the customers when needed. And last but not the least, research and development will the followed in the process to integrate more service augmentations to get competitive edge in the market.
Here the course will be taught by a highly efficient and skilled and knowledgeable faculty who will be assisting the students in each step. The different languages will be having different sets of faculties. After service will also be provided by the faculties and the parents can get in touch with the faculty members.
Here for this particular course business, the physical evidence will be indicating the online classroom settings and the faculty members, and the responsiveness of the teachers in the class (3). The particular language will be having different IDs for Google Classroom and the teacher will be communicating with the children through voice and chatting. Each classroom will be containing 10 students and each subject will be having 3 separate classes depending on the time availability so that the children can join the class in their preferable time slots. The physical evidence also represents the attractiveness and importance of the teaching staff who will be delivering the course as a service to the target market.
The market for online language learning courses is rapidly growing. Because of the impact of globalization and the introduction of cost-effective technology-based learning processes, it is changing at a breakneck pace. The online language learning market is projected to grow at a CAGR of 18.7% from 2020 to 2027, reaching $21.2 billion. (5).
Source: Statista
STP analysis stands for Segmentation, targeting, and positioning. It is one of the familiar strategic marketing approaches in the field of modern marketing. This part of the project report will highlight that how the business will be positioning and targeting its brand in the competitive market.
Market segmentation is the practice of breaking a large group of consumers into smaller groups based on shared features. It can be characterized into four types such as demographic, geographic, psychographic, and behavioral segmentation (6).
Segmentation |
Featured Description |
Demographic Segmentation |
Age Group: will consider the children 6-12 years old. Gender: Male & Female Income Group: Parents of earning group and the customer segment belong to upper-middle-class and upper-class families. Ethnic Background: Students will be from all ethnic backgrounds and no biasness will be there. |
Geographic Segmentation |
Students will be not only local candidates but also international candidates will be there. |
Psychographic Segmentation |
Customer Belief: Parents, those who are looking for such an online language platform and have the potential to get attracted to the business idea. |
Behavioral Segmentation |
Purchase Type: Parents who desire their children to engage in other language classes besides their own. |
Evaluation of the target market is fundamental for any business strategy since it offers guidance to the consumer and contributes to the creation of marketing strategies (7). This company’s target market is youngsters aged 6 to 12 years old, with language learning courses being designed just for them. The brand Veelingo will survey the school to understand the customer’s latent demand. Understanding market demands and understanding client pain points are the most important criterion for determining the target market. Identifying an audience for a business idea requires two primary components: a focus group and mind mapping. A search on the internet was conducted to see whether there were any other similar technological approaches available in the market, to give a one-of-a-kind service to clients.
Product and Unique Selling Proposition (USP)
A positioning is a strategic marketing tool that allows businesses figure out what is the current state of their company in the market and what necessary steps need to be taken to bring in customers in higher numbers (8). The company’s official website provides course updates for parents. This brand will be having a separate website that will contain all the important details of the offered courses and the fee structure. The social media integration will be added to the company website that will redirect the customer about the certain offers available for a particular period. the company uses Google AdWords and LinkedIn networking to market its brand. Veelingo will be doing a campaign on their social media pages for gaining the customer’s attraction. VEELINGO will advertise its YouTube channel as a source of course updates regularly. Collaborating with the local school will help them to communicate with the parents and make them aware of the brands and their service offerings.
The level of trust a corporation can build with customers over time determines its long-term success. Customers today are constantly evaluating their contacts with the businesses that affect their lives, and a few missteps could result in the company being discontinued. If a company’s clientele is consistently amazed by its compassion, it will be successful and personalized assistance, the other hand, the business can significantly raise its lifetime value (9). The net sales a company can expect from a client over the length of the business relationship is referred to as Customer Lifetime Value (CLV). Costumes are prepared to spend 17 percent more for items from firms that provide excellent service, according to Forbes. Satisfied customers are five times more likely to make a future purchase and four times more likely to refer a friend. There are several ways through which the business can intend to manage the relationships with its customers to create loyalty.
- Customer feedback is essential to a business’s long-term success since it allows the business to receive information from the customers about what works and what doesn’t. That the very first step is to promote open feedback via the official website, mail, or social networking sites (10). Then arrange a meeting with employees to discuss how the problem can be resolved and bring improvement.
- Veelingo will create a company policy that outlines the approach and consistency with which the CRM management will respond to clients. The organization needs to minimize using scripts and keep interactions natural.
- Building the trust factor among the customer segment is one of the most important things to manage customer loyalty. The company website has to have transparency so that customers do not get misguided by the information provided.
- This business plan has to identify a way to reward the most loyal customers to remind them that they are at the top of their minds (12). Veelingo will create premium membership features so that they can provide their loyal customers with extra added benefits such as offline classes, and adaptive vocabulary learning classes. Apart from that, the organization will be sending emails to the customers with special offers and course fees discounts.
- This Veelingo brand will create a buyer’s persona to explore the intangible aspects of a customer’s purchase decision and customer’s expectation so that they can fulfill by providing value with their solution. (Appendix.1, Figure.1).
For handling the customer complaints, the company needs to have two necessary things in their system, one is proper CRM and feedback taking form (11). Here as per the business model, Veelingo will follow certain steps to deal with the customer’s complaints.
- This organization, Veelingo will appoint an executive to handle the CRM software. He will be having an active listening skill so that they can properly identify what is the reason behind the anger of the customers. And he will take notes or record the total conversation for maintaining and updating the CRM for the future resolution of the issue.
- The CRM executive of the organization has to be empathetic to the customers. And give respect to the customer’s sayings and show that they are caring about the pain points of the customers and turn it in to gain points (13).
- It makes no difference who is to blame for the problem. It’s not unusual for the customer to be the one who steps out of line. The respective CRM executive needs to apologize for their dissatisfaction with the circumstance (14). An apology suggests responsibility. It informs the customer that the company representative will assist them throughout the procedure. Veelingo will apply this to their CRM process handling.
Providing the finest service to clients is, or should be, the fundamental notion of any type of business owner. All CEO wants their service to be the greatest and to satisfy the requirements of their clients. However, to do so, a corporation should first recognize the plight and requirements of the clients. This is where feedback comes in handy. Customer feedback provides an opportunity to learn what the consumers enjoy about the service, what they might modify or improve, and whether they are satisfied with the service (15). There are several methods to be followed by Veelingo to obtain their customer’s feedback.
Live Chat:
Veelingo will enable Live Chat options to enable their website to give instant support to their customer base. Live chat is one of the most popular ways to get feedback from your users. It’s quite simple to use. If a customer needs a quick response from the company’s customer service team, live chat is the easiest method for them to communicate with the company without having to go through any additional obstacles.
Price and Registration Details
Social Media Networking Sites:
Veelingo has its own social media pages and can track its audience their feedback about the course structure and the feedback on the faculty of the organization. The most well-known technique to learn regarding feedback from customers is through social media. Using the most popular, discover out what everyone else think about the organisation, company, or service. Social media platforms (Facebook, Twitter, LinkedIn) and newsgroups are the most prominent and are utilised by a large number of people (Reddit, Quora) (16).
Website Feedback Tools:
Veelingo will be having its website where they can ask the customers (Parents) to put feedback on the classes, course material, and after-course assistance. The most efficient method of obtaining feedback is to enquire for it directly on the company’s official website. Whether it’s from an internal or external source, the website is usually the best place to leave comments, identifying problems, a customer making a recommendation, or a user requesting a feature (17).
Monitor Customer Feedback on Other Networking Sites:
Another option that Veelingo can encrypt their system is that they can keep track of other social networking sites where customers randomly make comments and provide feedback about a particular service or product. There are already websites devoted to user feedback, opinions, and inquiries. They also give extensive feedback on the service. Capterra and GetApp are two of the best examples of this type of website. These websites offer a veritable encyclopaedia of techniques and infrastructure for a wide range of uses. (19).
Email Feedback:
Veelingo will apply email feedback in the form of a newsletter. It’s a good idea to conduct a survey or poll on company service now and again (18). Not only taking feedback is not enough, but Veelingo will also focus on the relevance of the ongoing problem the customers are facing.
Veelingo will apply data analytics to make an understanding that where their customers spend most of their time. The FAQ area of the website of Veelingo will clearly state what they are having the greatest difficulty with, as well as the most often searched keyword, concern, or function (Appendix. 2. Figure. 2).
Conclusion
Thus, the above-mentioned report will evidence that the new service business model will obtain its target market and manage its customer loyalty to grow its business model in the future. Certain techniques have been explained for Veelingo to obtain customer feedback which is the most crucial point for a new business start-up. The 7P’s of the marketing mix have been explained to understand the fee structure and the price strategy that Veelingo will apply to grasp the attention of the customers.
References
Mallik A, Farhan SN. Customer Centric Approach Using 7ps of Marketing Mix. International Journal of Innovative Knowledge Concepts. 2018 Nov;6(11):136-49.
Praveen M. Customer Engagement with 7P’s of Marketing in Online Platform. Customer Engagement with P. 2020 Feb 27;7.
Khorsheed RK, Abdulla DF, Othman BA, Mohammed HO, Sadq ZM. The Role of Services Marketing Mix 7P’s on Achieving Competitive Advantages (The Case of Paitaxt Technical Institute in Kurdistan Region of Iraq). TEST Engineering and Management. 2020 May;83:15947-71.
NGUYEN DT, PHAM VT, TRAN DM, PHAM DB. Impact of service quality, customer satisfaction and switching costs on customer loyalty. The Journal of Asian Finance, Economics, and Business. 2020;7(8):395-405.
Shadiev R, Yang M. Review of studies on technology-enhanced language learning and teaching. Sustainability. 2020 Jan;12(2):524.
Antovich DM, Graf Estes K. Learning across languages: Bilingual experience supportsdual language statistical word segmentation. Developmental Science. 2018 Mar;21(2):e12548.
Abou-Khalil V, Helou S, Khalifé E, Chen MA, Majumdar R, Ogata H. Emergency online learning in low-resource settings: Effective student engagement strategies. Education Sciences. 2021 Jan;11(1):24.
Goncharova NA, Solosichenko TZ, Merzlyakova NV. Brand platform as an element of a company marketing strategy. International Journal of Supply Chain Management. 2019 Aug;8(4):815.
Kampani N, Jhamb D. Analyzing the role of e-crm in managing customer relations: A critical review of the literature. J. Crit. Rev. 2020;7(4):221-6.
Carlson J, Rahman M, Voola R, De Vries N. Customer engagement behaviours in social media: capturing innovation opportunities. Journal of Services Marketing. 2018 Feb 12.
Morgeson III FV, Hult GT, Mithas S, Keiningham T, Fornell C. Turning complaining customers into loyal customers: Moderators of the complaint handling–Customer loyalty relationship. Journal of Marketing. 2020 Sep;84(5):79-99.
Zhu JN, Lam LW, Lai JY. Returning good for evil: A study of customer incivility and extra-role customer service. International Journal of Hospitality Management. 2019 Aug 1;81:65-72.
Stevens JL, Spaid BI, Breazeale M, Jones CL. Timeliness, transparency, and trust: A framework for managing online customer complaints. Business Horizons. 2018 May 1;61(3):375-84.
loyaltyleader. 7 Steps for Handling Customer Complaints – Loyalty Leader Inc. [Internet]. Loyalty Leader Inc. 2019 [cited 2 April 2022].
Misuraca M, Scepi G, Spano M. A network-based concept extraction for managing customer requests in a social media care context. International Journal of Information Management. 2020 Apr 1;51:101956.
Carlson J, Rahman M, Voola R, De Vries N. Customer engagement behaviours in social media: capturing innovation opportunities. Journal of Services Marketing. 2018 Feb 12.
Canhoto AI, Clear F. Artificial intelligence and machine learning as business tools: A framework for diagnosing value destruction potential. Business Horizons. 2020 Mar 1;63(2):183-93.
Tien NH, Jose RJ, RafalKuc B, Dana LP. Customer care and customer relationship maintenance at Gamuda Land Celadon City real estate project in Vietnam. Turkish Journal of Computer and Mathematics Education (TURCOMAT). 2021 Nov 4;12(14):4905-15.
Borucka K. 8 Effective Ways to Get Customer Feedback – TimeCamp [Internet]. TimeCamp. 2018 [cited 2 April 2022].