“To be the pre-eminent financial institution in Pakistan and achieve market recognition both in quality and delivery of service as well as the range of product offering.”
Wednesday, August 10, 2011
MISSION STATEMENT OF NATIONAL BANK OF PAKISTAN
To be recognized in the market place by Institutionalizing a merit & performance culture, creating a powerful & distinctive brand identity, Achieving top-tier financial Performance, and Adopting & living out our core values
Tuesday, August 9, 2011
PRINCIPAL BUSINESS OF NATIONAL BANK OF PAKISTAN
PRICIPAL BUSINESS
As it was already discussed in the history of the National Bank of Pakistan that the primary objective of setting the National Bank of Pakistan was to purchase the jute from the formers of the East Pakistan, as India refused to lift the Jute. The National Bank of Pakistan was exclusively engaged in the purchase of Jute till June 1950. Later on it begin to perform the commercial banking functions in the country.
Its Principal Business is simply to lend and borrow, and for that lending and borrowing they use different ways and techniques to attract their customers, due to strong competition within the country. Day to day many Programs are introduced by the National Bank of Pakistan according to different needs of customers for lending purpose. Such as,
NBP CASH GOLD
Meet your need for ready cash against your idle gold jewelry with no minimum or maximum limits. Facility of Rs. 5000/- against 10 grams of gold, Mark-up 9% per annum, no maximum limit of cash, repayable after one year, roll over facility, no penalty for early repayment.
NBP ADVANCE SALARY
“NBP advance salary “product alone has attracted approximately 300,000 customers. 15 months salary in advance (certain conditions apply), minimum documentation, repayable in 5 years, no processing charges; no collaterals, no guarantees, no insurance, Mark-up charged at 13% per annum on reducing balance method.
DEPOSITES
These are the savings/ money submitted by the people with the bank, for fetching some return or for the purpose of safety and security. There are various types of deposits, such as SAVING, FIXED OR TERM, CURRENT, ETC.
SAVINGS DEPOSITS
These deposit fetch returns upon them these are basically introduced to inculcate habit of savings in the general masses and to invest and reinvest the saved money. These deposits get return on the basis of announced rate for these deposits and that rate is according to the economic activity and net profit earned by the organization in fact this is a profit and loss sharing mode, but the history or till the introduction of these deposits, the depositors never share a loss. There are certain rule of the game viz. there is restrictions upon frequency of withdrawal and amount of withdrawal i.e. you can not withdraw more than twice a week and in case of amount more than 10000/= you have to submit prior notice. In fact these are not practiced at the moment because customer does not want to bound himself in such things and want to avail of the facilities of the account along with return, there are restrictions of keeping the minimum balance otherwise service charges are
Imposed, further you have to open with at least RS.3000/= which is now a days relaxed up to 200/= for opening the teachers accounts.
CURRENT DEPOSITS
these accounts were basically introduced for the business firms and persons who frequently use their account and want to avail of banking facilities of remittances, collection transfer of funds, safety security etc. these were basically in contrast to the saving accounts as these did not offer any restriction in terms of withdrawals and amount. These accounts does not fetch any return on them because you are allowed to take your money at any time so bank does not get enough time to invest the amount for longer period. More over this account was basically as mentioned above, was introduced for the business men, and provide them other facilities apart from return; state bank of Pakistan is taking steps to make it mandatory to provide return upon minimum balance and current account. The current account is opened in the name of individuals, proprietary firms, partnership firms, private limited companies, clubs, associations, societies and other institutions. The account can be operated by single or two or more persons jointly as the instructions may be given at the time of opening the account. No profit is given on current deposits. If the person who wants to open the account is not in a position to sign or his signature is not firm or shaky, the bank requires his photographs and he has to present Cheques personally at the counter for withdrawals from his account. The initial amount of deposits with which he can open the account must not be less then Rs.1000/= But his restriction is not imposed to the accounts of charitable institutions.
FIXED OR TERM DEPOSITS
These deposits are basically saving deposits and meant for inculcating the habit of saving for longer periods and provide chance for the bank to invest in a long term project or plan. These fetch comparatively high returns than the other deposits because of longer time periods. These are available for THREE, SIX –MONTHS AND FOR ONE, TWO, THREE, FOUR, AND FIVE YEARS. These have got a maturity date on which principal and mark up amount is to be provided to the depositor. This also has got a slight modification in shape of MIS (monthly income scheme) this is also a term deposit scheme but one can earn profit on monthly basis instead getting the same along with principal amount on maturity. In the case of fixed deposit account deposit is made for a fixed period and money deposited can be withdrawn before the expiry of period fixed or before giving an advance notice to the bank. Fixed deposit caries a higher rate of interest than the other type of bank account, and the rate of interest rises with the length of the period and the amount of deposit. On opening a fixed deposit account the bank grants to the depositor a “Fixed Deposit Receipts (FDR)” which is not transferable to any other person. When the deposit is with drawn the receipt must be handed back to the bank.
PLS ACCOUNTS
The silent features of profit and loss sharing saving accounts to be opened in NBP are as under.
1. These accounts can be opened by individuals in their own single or joint names. The PLS. saving accounts can also be opened for provident fund or other benevolent funds of
2. Companies, firms, organizations of welfare and educational institutions.
3. PLS. Saving account can be opened with a minimum amount of Rs.500/- only.
4. Money can be with drawn form PLS saving account with prior notice if heavy amount is involved.
5. To share in the profit a minimum balance of Rs.500/- must be maintained in account. The minimum balance on sixth and last of month will qualify for the profits.
6. The profit will be calculated on the basis of monthly minimum balance for the period of six months i.e. from January to June and July to December.
7. The head office of NBP determines the profits or loss on PLS saving deposits and advises its branches the rate and time of distribution of these profits concerned PLS. saving account.
8. With drawls from PLS saving accounts are allowed not
oftener then 8 time in a calendar month and for a total amount not exceeding Rs.1500/- for withdrawal of a large amount seven days notice in writing is required to be given. This notice shall not how ever affect the monthly with drawls ordinarily
oftener then 8 time in a calendar month and for a total amount not exceeding Rs.1500/- for withdrawal of a large amount seven days notice in writing is required to be given. This notice shall not how ever affect the monthly with drawls ordinarily
allowed. In the even of contravention of rule, depositors shall forfeit his right to share profit for the notice period shall be deducted from his total profit earning products.
9. There shall be no restrictions on maintaining the maximum balance in PLS saving account.
10. On the fist of Ramzan every year the Zakat 2.5 % will be recovered from the deposits on the balance of that day. But if depositors give declaration of Zakat or he is non-Muslim no Zakat will be recovered from him. In the same day Zakat is not recovered from account in which the balance are below up to prescribed limit as declared by the administrator of Zakat Pakistan. This system of accepting deposits has been stated in NBP since 01.01.1981.
FOREIGN CURRENCY DEPOSITS
1. NBP has also introduced foreign currency accounts for Pakistan and foreign Nationals in Pakistan and abroad. This scheme assures its customers of better profit and superior service.
2. It offers Pakistani or foreign National to operate a foreign currency A/C with any one of their authorized branches spread all over the country.
3. Deposits of this accounts will be acceptable in all convertible currencies, but accounts will be maintained on the customers choice in US $, British pond, German mark or Japanese yen.
4. Deposits may be made in the forms of remittances in foreign currencies,
Travelers Cheques on the bank counter will be accepted.
1. The customer can make with drawls and transfers to anywhere in the world.
2. All the deposits and profits in the customer’s foreign account are exempted from Zakat, income or wealth tax.
3. The customer’s sources are protected from any scrutiny of concerned authorities.
The NBP has over 1189 branches in Pakistan, of these more than 100 branches are authorized and fully equipped to deals with all kinds of foreign currency transaction. NBP has worldwide network of branches and it has associates in Saudi Arabia bank, All Jazira (18 branches) to facilitate the customers in Pakistan, Saudi Arabia and UAE.
LETTER OF CREDIT
Letter of credits are promises or guarantee to some of amounts to the importers or exporters or to their agents on accomplishment of certain agreement. These are also offered by the National Bank of Pakistan in shape of import and export L/Cs. So as to boost up country’s trade and improve foreign exchange reserves to enhance country’s exports and to introduce them world wide.
CREDITS
These are the various advance or finance facilities issued to the borrowers to carry on or to meet their business requirements. These are extended in three modes as explained above which are. SHORT TERM- MEDIUM TERM AND LONG TERM, which caters to the needs of clients according to their requirements.
TRAVELERS CHEQUES
These are the modern tools which enable clients to carry money from one point to another with complete safety and security. These available in various denominations ranges from RS. 5000/= to 100000/=. They provide you guarantee of payment even case of lost or theft. They are available for inland transfer of money as well as for abroad where ever the branches of National Bank are available and at other places through the agency arrangements.
NBP also provides different other services, such as
Thursday, January 13, 2011
VISION & MISSION STATMENT OF UFONE
Mission statement of Ufone
Our mission is to provide best services with best coverage that would eventually generate profit for the company and its stakeholders
Vision of Ufone
To be the leading telecommunication service provider in Pakistan by offering innovate communication solutions for our customers while exceeding shareholder value & employee expectation.
BUSINESS PORTFOLIO OF UFONE
BUSINESS PORTFOLIO OF UFONE
BRANDS
BRANDS | TARGET MARKET | REASON FOR TARGETTING |
PostPay | Corporate class | High usage for business & working people |
Life | Youth | Night dwellers |
PACKAGES
PACKAGES | TARGET MARKET | REASON FOR TARGETTING |
Public Demand | Lower class/Rural youth | High usage |
UWON | Lower/socio economic class | High usage |
5 ka 15 | Ladies | Ladies’ intention of 5 min chat usually exceeds to 15 min or more |
Walkie talkie | Working class/ business class | Call conferencing |
Uth Pakage | Lower/socio economic class | High usage |
SERVICES
Both Post-Paid and Pre-Paid Ufone subscribers can enjoy any/all Ufone services including GPRS based services (MMS, Ufone Internet, Pocket Stocks), Global SMS, etc
Ufone is proving these all services to its consumers:-• Internal Excess• Online Billing Payment• Power SIM• WAP• International Roaming• Voice Mail• Call Management• Messaging
MOBILE PRODUCTS
Ufone is offering the following Mobile Products:-§ Utalk§ Missed Call Notification§ Phonebook Saver§ Trivia Quiz§ Ushare§ Uloan§ Voice Bucket§ Utunes§ Awaz SMS§ Uchat§ Ugames§ Self Service Kiosk§ U kisaan§ U health§ Ufone prize bond§ Ubazar§ Hajj Guide
MARKETING STRATEGIES OF UFONE
► MARKET SEGMENTATION
Cellular service market is a diverse set of people. Ufone as well as other cellular service companies segment their market on four bases: - economy, age, gender & occupation.
I. ECONOMY: Upper class, Middle class, socio-economic class, lower classII. AGE: Teenagers, youngsters, middle age, aged peopleIII. GENDER: Male & FemaleIV. OCCUPATION: Corporate class, Business class, working class etc
TARGET MARKETSCellular phones are the technology of new era, the 21st century. These cellular phones are the main focus of our youngsters. All the cellular companies are targeting The Youth one way or other. Ufone is no longer a follower in this race. Its main focus is “THE YOUTH” of Pakistan which is its Target Market.
TARGET MARKETING STRATEGY
Ufone has always been targeting Youth Market by using young brand endorsers or ambassadors. It always brings such packages and offers that precisely meet the needs of our young people. No doubt it has also launched packages, brands and offers for working people, business class, ladies and aged ones. Ufone seeks to target masses in the long run.
POSITIONING
Positioning is the process of creating an image of company’s brand in the mind of market. Companies position themselves emotionally, functionally or on the basis of brand quality. Ufone is still a market challenger in comparison to market leader MOBILINK. It is still to reach to the top most position of cellular companies. So Ufone positions itself on the basis of its services.
Ufone’s former Positioning Statement:
“Everybody Loves to Ufone Prepay “
Ufone’s new Positioning Statement:
“Ufone tum hi toh ho.Or
“It’s All About U”
Ufone’s positioning strategy:
Ufone changed the image of mobile phones from a luxury only affordable by the elite, to a necessity affordable by the common man. Since its inception, Ufone has positioned its brand for “MASSES” on the basis of services it is providing and its lowest call rates. It makes them believe that it satisfies the needs of everyone (viz all classes, age & genders). It tells them that Ufone is there when anybody needs it. The brand name UFONE itself is a positioning statement.
DIFFERENTIATION
In these days of intense competition marketers find it hard to differentiate their services from those of competitors. Now customer care about only price. An unsatisfied customer will immediately go for brand switching. Thus leaving a customer unsatisfied and not meeting his/her demands is out of question for marketers.
Differentiation Strategy:
Ufone has always strategied in satisfying the demands of its customers. In doing so it has been successful in differentiating itself in terms of:-· Price· Quality service· Technology
► CUSTOMER RELATIONSHIP
With 28 million mobile users in Pakistan, Ufone is having a subscriber base of around 7 million. Ufone is showing a remarkable growth rate. It is maintaining a healthy customer relationship through its “customer service centers” and “call centers”. Its department of “Customer Operations” is specially designed for maintaining Customer Relationships.
Customer Relationship Strategy:
Ufone strategize to build and maintain strong customer relationships in order to build long-term customer loyalty and to capture customer lifetime value. In this context Ufone has been training its internees and permanent employees in the fine art of interacting with customers. It is also strategizing to offer gifts & rewards for its long-term customers in its PostPay to match the wonderful customer relationship strategy of INDIGO.
TOTAL MARKET ORIENTATION
Total Market Orientation is about understanding and meeting customer’s expressed and latent needs.
Strategy:
Ufone has always considered the ever growing needs of low call rates and quality service. It has provided its customers their needed packages and has introduced such brands & packages that meet customer’s latent needs as well. For example 5 ka 15 is result of a latent need of women of our society. They plan to make a short call but it becomes a long one unintentionally due to gossips and chit chats.
COMPETITORS
There is a hard core competition among the cellular service providers in Pakistan. Ufone is a market challenger in its competitive position, where MOBILINK is the market leader. Warid, Telenor and newly introduced ZONG are also strong contenders in market challenger category. Ufone has the following four direct competitors:-
- Mobilink
- Telenor
- Warid
Ufone also considers the following as its competitors:-
- ZONG (former PAKTEL)
- PTCL WIRELESS
- Wateen
- WorldCall
- S.Com.
ADVERTISING STRATEGIES OF UFONE
Advertising strategy consists of two major elements: Advertising Message & Advertising Media. Ufone has the following strategies regarding the Message and Media of advertising:-
ADVERTISING MESSAGE:
Message Content --»The very first content of Ufone’s advertising message was humor, and then in its blooming stage it shifted its message content to youthful excitement. Recently Ufone has again adopted humorous theme for its message content. This time Ufone is winning the hearts of people through humor and it has increased RPI of Ufone. Ufone has already generated much revenue through it.
Message Format --»The format of Ufone’s advertisements has always been very colorful and eye catching. The shocking Orange & Green colours used by Ufone have always attracted people. These colors look beautiful on wall printing of Ufone.
Message Source --»The very first Ufone advertisements had Faisal Qureshi as its message source. Afterwards Ufone hired non-celebrity young models for its youthful message theme. Ufone also hired three lollywood queens i.e. Meera, Jia Ali and Veena Malik with Mikaal in an advertisement of “Baat Ban Jaye”. This advertisement created a big controversy regarding the erotic and sexually attracting acts by the three female models. Due to negative response by people Ufone had to vacate its billboards and eradicate its banners, posters etc overnight, as directed by CEO and CMO of Ufone.
But now Ufone has again hired a comedian trio featuring Faisal Qureshi, Mikaal & Hammad. The strategy behind hiring this trio is that they are economical and are personal favorites of people.
ADVERTISING MEDIA: To increase the reach and frequency of advertisement Ufone is using repetitive strategy for its advertisements. And the humorous theme always makes the ads more appealing and engaging the minds of customers. Ufone advertise in the following media types:-
Print Media --»Ufone tries and print ads in all leading newspapers including The Dawn, Jung, Nawa-i-Waqt, Khabrain. Ufone place its ads in all leading magazines as well i.e. Sunday magazine, akhabr-e-jahan, Libas, Mag etc
Broadcast Media --» It is the prior choice for Ufone. It includes the electronic media television and radio. Ufone is advertising in all Pakistani channels including GEO, Hum, ARY, Indus, TV one, HBO, Cartoon Network etc (except MTV Pakistan). Ufone also plays its ads on local channels like WASEB and Punjab TV.
Display Media --»This type of media is the second choice of Ufone where it carries out its most of sales promotion and advertising. Ufone advertise using billboards, hoardings, signs (on Shop boards etc), posters, wall paintings etc. SME Multan has used a new and innovative vehicle in display media i.e. Ufone’s painted rickshaws.
Online Media --» Internet is the online media. Ufone places flashing ads on famous portals like coolbuddy.com, pakfellows.com etc. But Ufone is not carrying out direct mail or direct e-mail advertising.
Events --» Ufone has sponsored many events in the past and holds future plans concerning it. The famous event sponsored by Ufone in 2006 was a series of musical concerts did all over Pakistan, featuring Mikaal Hassan and Junoon, it named UROCK.
UFONE COMPETITIVE ADVANTAGES, CHALLENGES & FUTURE PLANS
COMPETITIVE ADVANTAGES
It’s an advantage over competitors gained by offering consumers greater value than competitor’s offer. Ufone strategies to gain more and more competitive advantages. It also uses these competitive advantages well enough for its promotion. Currently Ufone is enjoying the following competitive advantages:-
- Lowest overall call rates
- Value added Services (VAS)
- Call block service
- Corporate color
CHALLENGES
Ufone face many challenges with the ever growing needs of telecommunication. It must remain profitable with the decreasing economical situation of Pakistan. It must grow as well in these dark times if it has to remain IN the market. Ufone face very strong competition from its competitors. It must offer lowest rates with better quality service. New features and services should be introduced to make its customers loyal, happy and satisfied.
FUTURE PLANS
►Keeping in view the growth potential of the cellular industry there is no option but to be aggressive in order to remain a potent force in the cellular industry.
►In order to extend cellular network Ufone has finalized a huge network expansion contract amounting to about USD 550 million, which will enhance the subscribers’ capacity by 10 million. This is the largest ever expansion project of Ufone.
►A strong focus will be on maintaining high quality of service, which is always a benchmark of Ufone, increasing usage and exploring new revenue streams on value added services, market visibility through various market initiatives to fulfill subscribers’ satisfaction and demand and above all to increase the value of investment for the shareholders.
History of Pizza Hut
1972 - 1000 restaurants are open throughout the USA
1973 - Pizza Hut went international
1977 - PepsiCo bought Pizza Hut.
1982 - JV between PepsiCo and Whitbread
1997 - Pepsi Moved aside for Drinks and Tricon Global Came into being
2002 - Tricon Global became YUM! Brands Inc.
2006 – WB sold their share of the JV to Yum!
2008 - Bought Godfather's Pizza in Ireland with 28 stores
Introduction of Pizza Hut
Type: Wholly owned Subsidiary
Founded: Wichita, Kansas, USA, 1958
Headquarter: Addison, Texas, USA
Founder: Dan and Frank Carney
Slogan: NOW YOU ARE EATING
Employees: 300,000+
Parent: Yum! Brands since 1997
Derived: “Pizza” derived from Latin word
“Picea",
Prepared: Pizza is a meal prepared in plate, made of bread
•
WORLD WIDE ACHIEVEMENTS OF PIZZA HUT
- Pizza hut are the world's largest user of cheese, Over the course of a summer it is estimated that Pizza hut uses a 100 million pounds of cheese. Pizza Hut uses more than 300 million pounds of cheese annually.
- Pizza Hut purchases more than 3 percent of all cheese production in the United States , which requires a herd of about 170,000 dairy cows to produce it.
- They also use 700.000.000 pounds of pepperoni and 525.000.000 pound of tomatoes in one year.
- Gorbachev (the former president of the USSR) also played in a Pizza Hut commercial.
- In 2001 Pizza Hut sponsored a pizza delivery to the international space station.
The oldest Pizza Hut that is still functional is in Wichita, Kansas.
MARKETING PROCESS OF PIZZA HUT
- Understand the Marketing Place, Needs, Wants & Demands
- Designing a Customer Driven Strategies
- Prepare a Marketing Plan
- Building Customer Relationship
- Capture value from customers in return
- Understand the Market Place,Needs,Wants & Demands:
Being lover of fine food Italians imported this terrific dish to America. They always add something new to their menu, trying to reach new markets. - They offered many different food items for customers who did not necessarily want pizza.
- They are still using the diversification of their pizza according to culture & people regional values.
- They offer different varieties of pizza according to customer’s want & purchasing power e.g. The Extreme pizza.
2. Designing a Customer Driven Marketing Strategy:
- Their main strategy that they still follow today is the diversification of products they offer.
Other strategies followed by pizza hut are C.H.A.M.P.S. & 3 F’s.
- According to customer’s demand they make their strategies by keeping following points in mind;
Which customer they will serve?
- They serve their customers on the bases of income level, age through market segmentation.
- Their main segment which they has captured are combination of higher incomes & dual career families.
- Their maximum market segment is younger generation ranges from 12-30.
How will they serve these customers?
They fulfill their customer’s demand through;
- Value proposition
- Positioning
- Unique selling proposition (USP)
3. Prepare a Marketing Plan:
They develop best product with the resources available.
Their marketing plan is comprises on 4P’s;
Product
Price
Place
Promotion
4. Building Customer Relationship:
They build strong relationship with customer by offering them best pizza and they create customer delight through;
- Customer Relationship Management (CRM)
- Partnership Relationship Management (PRM)
Customer Relationship Management (CRM):
- In 1995 they began two customer satisfaction program;
1-800 customer hot line & a customer call back program.They’ve full service restaurant as well as delivery services.
- Crewmember at pizza hut strive each day to provide ‘customer mania’.
- They also offer two products within single price.
Partnership Relationship Management (PRM):
- They’ve inside & outside partners e.g customers, competitors, suppliers.
- Functional department corporate & focus on an area such as marketing, HR.
- In 1977 Pepsi co bought pizza hut & 1982 they stared joint venture with Whitbread.
- In 2006 Whitbread sold their share of joint venture to YUM! Brands Inc. Pizza hut UK Ltd was now 100% owned by Yum!
5. Capture Value from Customer in Returns:
- Pizza hut is committed to providing uncompromising product quality offering customers the highest value for money & giving service that is warm, friendly & personal.
- They also follow social factors to maintain their image through corporate social responsibility.
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