Marketing of Services Assignment

MASTER OF BUSINESS ADMINISTRATION (MBA)

FOR THE BATCH 2019-21

UNDER
HONOURS SCHOOL SYSTEM
AT
UNIVERSITY BUSINESS SCHOOL
PANJAB UNIVERSITY
CHANDIGARH

SUBMITTED TO SUBMITTED BY
DR. PURVA KANSAL RAKTIM CHAUDHURI (21)
PROFESSOR MBA-A (2019-21) (4th Semester)
UNIVERSITY BUSINESS SCHOOL UNIVERSITY BUSINESS SCHOOL
PANJAB UNIVERSITY, CHANDIGARH PANJAB UNIVERSITY, CHANDIGARH
ACKNOWLEDGEMENT

This assignment is the result of efforts whereby we have been accompanied and supported by many
people. Their contribution in assorted ways to the research and to making of this assignment deserves
special mention. It is a pleasure to convey our gratitude to all of them in my humble acknowledgment.

As the completion of this assignment gave us much pleasure, I would like to show my gratitude to
Prof. Purva Kansal, University Business School, Panjab University for providing us an opportunity
to work on this assignment. I take this opportunity to express our profound gratitude and deep regards
to my mentor Prof. Purva Kansal, for her exemplary guidance and constant encouragement throughout
the course of our assignment.

I wish to thank all the group members who spent their valuable time in discussing with us and giving
valuable suggestions through group discussion.

I would also like to expand our gratitude to all those who have directly and indirectly guided us in
writing this assignment. Last, but not least, I want to express our deep appreciation to our parents and
friends for their moral support and guidance throughout our assignment.
Contents
Introduction ............................................................................................................................................ 2
Service Blueprint ................................................................................................................................. 2
Benefits of service blueprinting .......................................................................................................... 2
There are 3 essential requirements for a formal ................................................................................ 4
Service Blueprint ................................................................................................................................. 4
Some supplementary swim lanes can be ............................................................................................ 5
Banking Industry in India ........................................................................................................................ 6
Market Size ......................................................................................................................................... 7
Road Ahead ......................................................................................................................................... 7
AXIS Bank Limited ................................................................................................................................... 9
Services offered by the bank: ............................................................................................................. 9
SERVICE BLURPRINT .............................................................................................................................. 11
1. Physical evidence .......................................................................................................................... 11
2. Customer actions .......................................................................................................................... 11
3. Onstage employee contact ........................................................................................................... 12
4. Backstage employee contact ........................................................................................................ 12
References ............................................................................................................................................ 14
Introduction
Service Blueprint
Service blueprinting is defined as a tool for simultaneously depicting the service process, the
points of customer contact, and the evidence of the service from the customer’s point of view.
The proposed blueprint allows for a quantitative description of critical service elements, such
as time, logical sequences of actions and processes, also specifying both actions/events that
happen in the time and place of the interaction (front office) and actions/events that are out of
the line of visibility for the users, but are fundamental for the service.
“A service blueprint is an operational planning tool that provides guidance on how
a service will be provided, specifying the physical evidence, staff actions, and support
systems / infrastructure needed to deliver the service across its different channels.

The tool of customer journey mapping, enables the interested parties in

understanding customer actions with their product or service over a time. The service
blueprint includes the customer journey plus all the interactions which makes that
journey possible.
Service blueprints can be used for delivering services in a way to make it a
successful customer experience. If we take analogy of a building we can see a
building and also read description about it but for building the actual building one
needs more than an image or description. One needs the instructions which we call the
blueprint.
Service blueprints reveal and necessitates many of the core concepts of service
design. Service blueprints elucidates the interactions among service users, digital
touchpoints, and employees providing services, comprising the frontstage activities
that affect the customer directly, and the backstage activities which the customers do
not see.

Benefits of service blueprinting

• It improves service offering - Understanding how service gets produced makes
tackling breakdowns or pain points. It provides understanding of ideal customer
experience.
• Designing a new service that combines digital and non-digital
touchpoints. - Service blueprints is even more important while scrutinizing and
executing the delivery of tricky services.
• One can keep track in case service gets lost.- Just like products, services have
manufacturing lines. Parts of service may get isolated and not visible to act upon if
the process of service delivery is longer or if the organization gets bigger.
• Blueprint helps in coordination: Most often even simple-looking service has IT
systems, people, props, and partners where everything works together to deliver the
customer experience. A blueprint comes handy in coordinating complex parts.
• Blueprint helps in producing other services which are tied to the first
product or service –Mainly in b2b services, products and services often act
together with other services, particularly if they are b2b. Getting better knowledge of
customer’s interconnection with partners from the start to the end of the service can
help in delivering the service more seamlessly and can produce better customer
experience.
• Transformation of high-touch service into a lower-touch mode.–Innovation
in technologies can produce more opportunities for giving higher-touch; although that
may mean more spending of money, but services can be delivered to bigger audiences
in different and more cost-effective ways. For example, if we think about the
expanding world of online trading. A blueprint reveals the essential analysis for
executing a new, lower-touch service.
• It provides a platform for innovation. It provides both strategic and tactical
innovations. It transfers and stores innovation and service knowledge.
• It recognizes roles and interdependencies among functions, people and organizations.
• It suggests critical points for measurement and feedback in service process.
• It clarifies competitive positioning.
However it should be kept in mind that a service blue print is not the right tool at
all the times. Especially in case of designing an all-digital service, journey mapping or
process flows may serve in better way.
There are 3 essential requirements for a formal
Service Blueprint
1. The line of interaction: It is the direct interaction between the customer and the
organization.
2. The line of visibility: This line separates all service activities that are visible to the
customers from those that are nor visible.
3. The line of internal interaction: It separates contact employee activities from
those other service support activities and people.
In between these lines are 5 main swimlanes that capture the building blocks of
the service:
• Physical Evidence: They include visible things (tangibles) and places that customer
comes in contact on the way to his service journey. There is a lot of misunderstanding
regarding it that this part is only meant for customer-facing physical evidence, but it
also includes any forms, products, signage, or physical locations used by or visible to
customer or to an internal employee.
• Customer Actions: It includes steps, choices, activities and interactions that
customer performs in the process of purchasing, consuming and evaluating the
service.
• Frontstage: All the steps, activities that contact employees perform and physical
evidence that are visible to customers.
• Backstage: This include all the steps and activities that occur behind the scene to
support onstage activities.
• Support Processes: Covers the internal services, steps and interactions that take
place to support the contact employees in delivering the service
Some supplementary swim lanes can be
• Time: A customer wants service to be delivered on time and the blueprint can reflect
the each step in the service delivery can take. Showing time along the steps gives a
better understanding of the service delivery process.
• Quality measures: These are the elements that evaluate your success or value.
These are the important moments which define the success or failure of the service as
being perceived by the service user. For example, the amount of time a customer has
to wait for before getting the service.
• Emotional journey: It varies according to the type of service which is given, it is
crucial to know the service user’s state of mind. For example, excitement is an
important emotional state that the service user experiences when he visits theme park.
• Splitting up the front stage: Numerous touchpoints work together simultaneously
to generate a service experience, dividing each touchpoint into a different lane (for
example, service employee interactions and non-human- digital and device
interactions) can be very beneficial.
• Splitting up the backstage: The backstage includes people, systems and
equipment. For more comprehensive blueprints, dividing lanes for employees,
infrastructure, applications and data can elaborate the various spheres of the service.
• Phases of the service experience cycle: Services open out over time, so it can
add clearness to define the phases of the experience cycle. For example: how
customers are attracted to use the service, come in or get onboard for using services.

Banking Industry in India

As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalised and
well-regulated. The financial and economic conditions in the country are far superior to any
other country in the world. Credit, market and liquidity risk studies suggest that Indian banks
are generally resilient and have withstood the global downturn well.
Indian banking industry has recently witnessed the roll out of innovative banking models like
payments and small finance banks. RBI’s new measures may go a long way in helping the
restructuring of the domestic banking industry.

The digital payments system in India has evolved the most among 25 countries with India’s
Immediate Payment Service (IMPS) being the only system at level five in the Faster Payments
Innovation Index (FPII)

Market Size

The Indian banking system consists of 12 public sector banks, 22 private sector banks, 46
foreign banks, 56 regional rural banks, 1485 urban cooperative banks and 96,000 rural
cooperative banks in addition to cooperative credit institutions. As of September 2020, the total
number of ATMs in India increased to 210,049 and is further expected to increase to 407,000
by 2021.

Asset of public sector banks stood at Rs. 107.83 lakh crore (US$ 1.52 trillion) in FY20.

During FY16-FY20, bank credit grew at a CAGR of 3.57%. As of FY20, total credit extended
surged to US$ 1,698.97 billion.

During FY16-FY20, deposits grew at a CAGR of 13.93% and reached US$ 1.93 trillion by
FY20. Credit to non-food industries stood at Rs. 103.46 trillion (US$ 1.40 trillion) as of
November 20, 2020.

Road Ahead

Enhanced spending on infrastructure, speedy implementation of projects and continuation of

reforms are expected to provide further impetus to growth in the banking sector. All these
factors suggest that India’s banking sector is poised for a robust growth as rapidly growing
businesses will turn to banks for their credit needs.

Also, the advancement in technology has brought mobile and internet banking services to the
fore. The banking sector is laying greater emphasis on providing improved services to their
clients and upgrading their technology infrastructure to enhance customer’s overall experience
as well as give banks a competitive edge.

India’s digital lending stood at US$ 75 billion in FY18 and is estimated to reach US$ 1 trillion
by FY23 driven by the five-fold increase in the digital disbursements.
AXIS Bank Limited
Axis Bank established in 1993 was the first of the new private banks to have begun operations
in 1994 after the Government of India allowed new private banks to be established.Axis Bank
Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI.
The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC
– Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.Axis Bank is
one of the first new generation private sector banks to have begun operations in 1994. The
Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI)
(then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General
Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India
Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance
Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI,
an entity established in 2003.

Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a
view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed
with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the
Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI–I and UTI–II with
effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI I
has been transferred and vested in the Administrator of the Specified Undertaking of the Unit
Trust of India (SUUTI), who manages assured return schemes along with 6.75% US–64 Bonds,
6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores.

The Bank has strengths in both retail and corporate banking and is committed to adopting the
best industry practices internationally in order to achieve excellence.

Axis Bank entered a deal in November 2010 to buy the investment banking and equities units
of Enam Securities for $456 million. Axis Securities, the equities arm of Axis Bank, will merge
with the investment banking business of Enam Securities.As per the deal, Enam will demerge
its investment banking, institutional equities, retail equities and distribution of financial
products, and non–banking finance businesses and merge them with Axis Securities.

Services offered by the bank:

• Personal Banking
• Corporate Banking
• NRI Banking
• Priority Banking
• VBV – Online purchases using Credit Card
• VBV / MSC – Online purchases using Debit Card
The Service Flower

The Services Segmentation

SERVICE BLURPRINT

Service Blueprint
The key components of service design of the hospital include –

1. Physical evidence
physical evidence of the service delivery at each point of customer contact is recorded at the
top of the blueprint. Vertical lines are drawn on the blueprint to show how various activities
and processes interact to deliver the service to the customer.
There are several physical evidence service points for the customer such as –

• Location
• Reception
• Welcome Desk
• Seating Arrangement & Brochure
• Form and Cash Counter
• Seating Arrangement
• Quality of Paper and Cards

2. Customer actions
customer actions area encompasses the steps, choices, activities, and inter-actions that the
customer performs in the process of purchasing, experiencing, and evaluating the service. The
total customer experience is apparent in this area of the blueprint. The process or actions of
customer when visiting a hospital includes various actions such as –

• Arrives at the Bank

• Security Check
• Inquiries
• Interaction with Banker
• Completing Formalities
• Wait
• Receives welcome kit

3. Onstage employee contact

The activities that the contact employee performs that are visible to the customer are the
onstage/visible contact employee actions. In the hospital care when a person enters the hospital
the onstage employee who will be in contact are:

• Watch Man
• Security Man
• Welcome desk officer
• Personal Banker

4. Backstage employee contact

Invisible actions of employees that impact customers and are separated by the line of visibility.
The invisible actions of in a hospital that impact the patients are-

• Guides customer to Pb Banker

• Explains products and Investments
• Transfer Initial Amounts
• Sending forms and other Documents
• Account Proceeds, Account Number, PIN Generated
• Welcome Kit Sent

Three levels of services

References

• Company information –
https://www.ndtv.com/business/stock/apollo-hospitals-enterprise-ltd_apollohosp/reports

• Industry Information –
https://www.ibef.org/industry/banking-india.aspx

• Zeithaml, Valarie A., Mary Jo Bitner, and Dwayne D. Gremler. Services Marketing: Integrating
Customer Focus Across the Firm. New Delhi: Tata McGraw-Hill, 2008