The only company that provide mode of payment via a prepaid e-payment card that can be use in public transport such as light rail transit(LRT), rapid bus, monorail, KTM, and also can be use in the tolls in highway or even in the shopping mall’s car park. 2. It is so convenient that you don’t have to buy the two ways ticket every time you travel. You just need to reload your card in many places such as petrol stations, banks, tolls and even in KTM, LRT and monorail. 3.
You can save much time to buy the travel ticket. Example, in the morning sessions where no matter the people are going to work, going to school or even tourists, there are many people will queuing up to buy the travel ticket. In this situation, you absolutely can save much time by just queuing up to buy the ticket. Nowadays, Touch ‘n Go that can be linked to banks. When the balance of the card is below RM50, it will help you to auto reload to the amount of RM100. Every time when the card is auto reload, it will charges another RM2 as a auto reload fee.
Another example, an extension of Touch ‘n Go is SmartTAG, which allows you to insert the card into a reader device that will auto deduct your travel amount when pass by tolls. This will reduce your time wasting in a jam where all the cars are queuing in the toll’s counter. 4. For frequent user of Touch ‘n Go, sometimes there will be a rebate on the large amount of the money that you reload. Example, if you reload RM100, the will be a rebate of RM20 into your card.
That’s mean your card balance will be RM120. Weaknesses . If your Touch ‘n Go card lost in somewhere where somebody picking up to use it, you will lost the amount of money that you’re still left in the card. If the card that you use it is a linked to banks, you need to go the bank to cut the card service, if not, the money will continuous deduct when the people who picked up still using. 2. The machines would have the problem to read the cards. Although now the technology is so advance, but sometimes it would occur some problems in machines no matter how good it is. 3.
If you don’t want use the card, the refund for card balance and deposit will be paid by cheque in one month processing. The customer need to wait such a long time to wait the refund. 4. The card will be inactivating if the customer didn’t reload after the period of 12 months. Customer have to pay money to reactivate again only can use. There is also the expired date for each card. After 10 years, customer has to buy another card to replace the expired card. Opportunities 1. The opportunities for Touch n’ Go is providing more payment area by using the card.
Example, the area of Hong Kong using the ‘ba dat tong’ card is so large, the area such as, public transport, shopping, restaurant, convenient shop, school, resident house and much more. This will expand their company faster. (Online 4) 2. Touch n’ Go also can promote the card with some key chain design that can easily taken out to use. Users of the card won’t be easily forgotten to bring out as the key and the card is putting together with the key chain. 3. Finding more companies to cooperation with the idea of the convenience of using the card in everywhere and provide more reload service at each location that can be find easily.
As most of the people like convenience rather than doing steps. Threat 1. The changing policy of government such as changing towards a no public transport provided in society. It will affect the profit gaining by the company. 2. The ability of the supplies can affect the industry through raising the prices or reduce the quality of the card. 3. 0 – S. O. F. I. E Set Objectives 1. Focusing on customer satisfaction by implement with the requirement of the Total Quality Management (TQM) and continually improving the effectiveness. 2.
To provide secure and more convenient cashless payment mode in more areas all over the country in Malaysia. 3. To provide more reload service and cashless payment linked to more different banks at each location. Formulate After setting company’s objectives, company has to think some plans that related to the objectives, so the company can achieve the objectives in a short period. The company can provide discount or rebate on a reload when reach minimum of RM50. Next, company can provide more efficient and effective service at any train station when the card is lost.
Company need to provide more place to reload and also provide service of repair and maintenance on the machines. The company has to provide more banks that can linked to the card and provide a good customer services. Company need to find more suppliers such as restaurant, shopping mall, parking lots and others that willing to cooperation with the company on the ideas of cashless society. Implement Company concerns about the problem that occur in the process of using. So there are the steps that company would like to take.
First, the company can hired people who are fast but accurate; patient can handle problems well, friendly and don’t have the problem in communicate with people to provide a good quality of customer service. Next, company also need to hired full time technical people to do more research and find more information on how to minimize the machines’ problem so can reduce customers’ complaint. Company plans a good marketing plan for the purchasing and using the card so many people will demand for it. Company find more suppliers that can be cooperation together as to reach the ideas of cashless society.
Company organizes more campaign about the cashless society. Evaluate After implement, evaluations carry out to make adjustment between the problems occur. 1. Doing evaluation by getting customer feedbacks or see whether is still getting the complaints from customer. 2. Conduct market survey about the card and services given by employees. 3. Doing evaluation about employees’ performance and give advises to them and to make adjustment in management. 4. Evaluate about how aware the people are in the concept of cashless society 4. 0 – Strategic Management Cost leadership 1.
Offer some discount and rebate on the total reload amount. 2. Offer reward points just like Real Rewards Program, each of RM1 will be given 1 point which never expired across Malaysia. User can accumulate points and redeem for gifts. Many people like free gift , so it will encourages more people to use the card. (Online 3) 3. Hire new and young staffs like people who doing internship or fresh graduate, because they are more likely to be learning things and to be more hardworking. The costs for the company is reduce compare to hiring people who have much experience.
Control over the supply chain to ensure the most low cost for the product. To enjoy quantity discount, company normally will buy in a bulk and also will sign long term contract in order to get a good price for the production. Differentiation 1. Produce better quality of the card, and produce more different designs, example, can produce a card with a key chain, so that people can hang in bag with keys or bring out easily. Nowadays, people like to rush here and there, so with the design of key chain, people won’t worry that they will forget to bring out. 2.
Provide a good customer service with train the staffs by sending them to attend course or training, so that there won’t be so much of complaint. If the customer service is poor, customer will start to complaint and spread out to their friends and family fast. 3. Provide more reload service in every location so that customer no need go to a specific place that far from home to reload the card. People don’t like things that make them trouble, they like things to be done easily. Focus 1. The company serves narrow segments such as working adults and student more effectively than choosing wide market.
The narrow segment’s needs are so special because they spent more than the usual people. The company has the ability to identify the needs or preferences of narrow segments of the students and working adults. ( Online 2) The company then offers unique products such as Rapidpass pelajar and Rapidpass Flexi for both segments. For this company, I would choose differentiation strategic management. First reason is because this company has no competitor for now but they need to improve their customer services in order to get the customer’s praise and support.
Base on a profit-earning company, customers are the most important origin profit to the company. If the company does not improve their quality of the customer services, they will lose their customers. In order to improve their effectiveness and efficiency of the service, the company needs to send their employees to get some training in order to get a high satisfaction level from customers. What things that gets customer’s satisfaction is that the card quality good but can get in a lower price. Another thing is every people like things that convenient to them.
What things that convenient to them, they willing to buy and try. Same situation in the Touch n’ Go Company, they need to set up as many machines or counters in every area so that they can reload their card conveniently. 5. 0 – Conclusion In the conclusion, SWOT analysis is a business tool that helps the company knows what the position is at the market now. SWOT analysis also helps the company to do a marketing strategy after they lists out all the strengths, weaknesses, opportunities and threat for the company.
They can use strengths and weaknesses analysis to help them figure what they need to improve or maintain, because this is the what they focuses internally of the business. In opportunities and threat analysis, they need to know what things that stop them to get more customers or threaten their company status by knowing externally of the business. Company can react fast and change their strategy accordingly from the SWOT analysis. (Online 1) The strategic planning process, S. O. F. I.
E is a tool that set a set of strategic planning to the company for future using the SWOT analysis as a reference. The company must engage in setting objectives, formulates implements, evaluates the process and also make adjustments to stay on the market and achieve the objectives that set by the company. The company use differentiation as its generic strategic management to do a leading company and also differentiate their product from others company. As a result that the company using a differentiation strategic, company need to improve the quality of all sides.