Meloche Monnex Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Competitors

Now coming to the next C, which is competitors, which, although many and forces the profits remain low, but in terms of the niche market are less. Meloche Monnex has carved itself a niche that has very few competitors within it, but the restrictions and the associations themselves are the hindrances. The restrictions in the way business should be conducted and promoting their schemes within the numerous other activities of the associations.

Climate

The last C is a climate that refers to what are new trends in the industry? The impact of these new trends and technologies on the company? Meloche Monnex is already gearing towards the technology of emailing that is the new trend. This approach will help the company to become cost savvy in the long run and also make their processes of contacting customers much more efficiently.

Alternative Options

After the analysis, the first option that can be implemented is that of embracing the technology of emailing that would in turn revolutionize the process of communicating with the customers. This would first entail, training the staff and injecting capital in buying the equipment necessary to switch from mailing to e-mailing. This would include the computers and the wiring of the whole system. The rewards of this would be that quite possibly the existing staff would have certain skills available that would simply need to be polished and enhanced. A training needs analysis would need to be conducted that identify the gap and make the loopholes visible. The drawbacks would be the injection of capital that would have to be invested first, but later the return in terms of efficiency and economies of scale would be great.

The choice of product and target sector, type of promotion or design, promotion pattern and intensity, and communication method, the manager will be able to decipher whether the change being implemented on needed (PriyaRaghubir, 2004). Another risk that can be associated with this option is that the customer group is not ready to change their method of being contacted and/ or simply do not have the skills to use this method effectively.

The next alternative option can be a promotional campaign, which revolves around the notion of them offering the best price among the other providers of insurance in the market. They launched the slogan “Enjoy preferred group rates and individual care!” which highlighted the rates they are providing rather than only focusing on the exemplary service they provide.

However, if this promotion is done in the short term only then as written in how Advertising Works the researcher McDonald 1971 showed that the effects of short-term advertising diminish fast, thus a long term promotional strategy should be launched rather than it being a onetime event. The risks would be that the company’s focus on performance and being recognized for that one trade that may be diluted while the reward may be an added customer base. However, “behavior feeds back to experience” which means when the service is utilized then the optimal performance delivered would have an offset the effect (Vakratsas& Ambler, 1999).

Recommendation

Lastly, I suggest the company implement option one and transform all their manual mailings to emailing that would yield great benefits for the Meloche Monnex in the long term and enhance their existing ability to deliver great performance. This will allow them to maintain and sustain the existing level of performance whichadds the efficiency and effectiveness...................................

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