SAFARICOM CREDIT CARDS
Product creation entails its variety, quality, design and its brand features involved in its marketing mix process. Products are created using [NPD]New Product Development which is an interlinked sequence of information processing tasks where knowledge of customers needs is translated into final product design. New products are essential to the survival and long-term growth of any firm, since success in [NPD] is a critical management issue particularly in technology driven firms like Safaricom limited. NPD, specifically the ability of a company to develop products that outperformed their competitors in the market place had been proved to benefit a firm in building its own competitive advantage. Safaricom has been in forefront line to enhance establishment of [NPD] to escalate high in the market by introduction of value added services like okoa jahazi where credit top ups is borrowed and paid later. The introduction of value added service where credit top up is borrowed and paid later is a product that is captivating Safaricom has also ensured effective access of credit cards as from Kshs 10 to Kshs 1000 to all safaricom stop shops including retailers and wholesalers of their cards. It’s very easy for an individual to access any credits of his/her ability to buy from all parts of country in Kenya.
For consumer products, consumers use price as an important extrinsic cue and indicator of product quality or benefits. Customers often perceive high priced brands and less vulnerable to competitive price cuts than low priced brands. Safaricom is a firm that which does its business within the base of pyramid segment to develop products which are affordable to all customers.eg safaricom offers okoa jahazi from Kshs 5 to Kshs 1000 such that all rich and poor people can access credit for communication at any price from kshs5 to Kshs 1000. Safaricom has developed such as okoa jahazi based on pyramid segment for all...
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