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COMPETITIVE POSITIONING WORKSHOP CREDITIBC Phnom Penh, Cambodia March 1517, 2006 SUMMARY DOCUMENT

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Title: COMPETITIVE POSITIONING WORKSHOP CREDITIBC Phnom Penh, Cambodia March 1517, 2006 SUMMARY DOCUMENT


1
COMPETITIVE POSITIONING WORKSHOPCREDITIBCPhno
m Penh, CambodiaMarch 15-17, 2006SUMMARY
DOCUMENT
2
EXECUTIVE SUMMARY
  • CREDIT-IBC Competitive Positioning Workshop was
    very successful along many fronts
  • Met high level goals outlined prior to workshop
  • Discussed ideas on mission/vision, branding,
    marketing, operations, and product development
  • Identified action plans and responsibilities
    going forward
  • Brainstormed ideas for CREDIT retreat
  • Key next step is to keep positive momentum going
  • IBC will support as needed in implementation
  • Additional funding needed from donors to make
    changes successful

IBC and CREDIT team members worked together to
meet workshop goals
3
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

4
A VERY EXCITING AND REWARDING WORKSHOP!30 Team
Members From CREDIT Corporate Office/Branches,
and IBC
Workshop Overview
Learning
Teamwork
Pride
5
IBC TEAM MADE UP OF FIVE MEMBERS
Workshop Overview
Paul Buser
Erik Keener
Brad Rager
Molly Buser
Aubrey Glynn
Career The Boston Consulting Group
(2003-present) Education University of Notre
Dame, degree in Finance minors in Accounting
Political Science Current residence Bangkok,
Thailand
Career Accenture (2004-present) Educatio
n University of Notre Dame, degree in Finance
Political Science Current residence Chicago, USA
Career The Boston Consulting Group
(2003-2006) Education University of Notre Dame,
degree in Finance Political Science Current
residence Chicago, USA
Career PwC (2003-2005), United Nations
World Food Program (2005-present) Education
University of Notre Dame, degree in Finance,
Spanish Accounting Current residence Bangkok,
Thailand
Career Donovan Design
(2004-2006) Education University of Northern
Iowa, degree in Graphic Design Current
residence Chicago, USA
Have been working with World Relief for 2 years
Note Aubrey Glynn is a non-IBC outside consultant
6
IBC A GROUP OF BUSINESS PROFESSIONALS WITH A
MISSION OF PEACE THROUGH COMMERCEIBC Has
Collaborated With World Relief Since 2004
Workshop Overview
IBC background
Previous work with World Relief
The International Business Council (IBC) was
founded in 1990, as an outgrowth of a student
organization at the University of Notre
Dame Over the last 3 years, the organization has
been operating as 401(c)(3) non-profit Membership
is now 100 people across many countries
throughout the world A core goal is to create
and maintain long-lasting relationships with
non-profits and learn about the microfinance
industry
  • In 2004, the IBC approached World Relief about a
    potential partnership
  • Similar missions
  • Beneficial for both parties
  • First project entailed determining an optimal
    organization and funding structure for a group of
    WR MFIs
  • Team researched the market, facilitated expert
    interviews, and completed several analyses
  • Members of the World Relief team came to Chicago
    for a presentation of findings
  • Desire for operational/field experience led us to
    CREDIT

Work with CREDIT a key component of long term
World ReliefIBC relationship
7
CREDIT/WORLD RELIEF TEAM CONSISTS OF MANY MEMBERS
FROM ACROSS THE ORGANIZATION
Workshop Overview
CREDIT/WR Team Leads
Other Stakeholders, Employees
Paul LuchtenburgGeneral Manager MachOperations
Manager and Operations team leader ChhayDeputy
General Manager and Product Development team
leader NaraMarketing Officer and Marketing team
leader Wendy-Ann RoweWR Technical Advisor
Tim AmstutzCountry Director WR GreggBoard
Member BunhoutHuman Resource Officer Chea
RanySub-branch Manager Koung CheaSub-branch
Manager San HoutBranch Manager Tun VibolBranch
Manager Ny PheapTeller LaninInternal
Auditor Soa RaBranch Manager Seang
SaraPromotions Officer SarornAssistant Branch
Manager VutheaSub-branch Manager Kong
ChhoeurnPromotions Officer Kong KearBranch
Manager VibolFinance Manager VarichTeller Vanara
Branch Manager KimsreangSub-branch
Manager VanninAssistant Branch Manager Phal
HortPromotions Officer Sam RaSub-Branch
Manager Emmanuel ArisVolunteer intern
8
WE DISCUSSED SEVERAL TOPICS OVER 3 DAYS
Workshop Overview
Day 1 Current State Branding Competitive
positioning CREDITs strengths and
weaknesses Staff and client survey results
  • Day 2
  • Options
  • Branding
  • CREDITs brand values
  • CREDITs tag line
  • Ideas for
  • Marketing
  • Operations
  • Product Development

Day 3 Implement Selected best ideas
Created list of responsibilities Created
implementation plan
9
WORKSHOP SESSIONS AND EXERCISES WERE DESIGNED
HELP CREDIT MEET OUTLINED GOALS
Workshop Overview
Day 1 Current State
Day 2 Options
Day 3 Implement
  • Session 1 Introduction
  • Workshop goals, schedule
  • Intro to branding
  • Session 4
  • Aspiration Analysis
  • Optimal core values
  • Options to get there
  • Session 7
  • Option Selection
  • Confirm optimal options
  • Create plan for implementation
  • Session 2 Positioning Survey
  • Discuss survey results
  • Understand CREDIT SWOT
  • Session 5
  • Brand Visioning
  • Gap analysis
  • Possible branding options
  • Session 8
  • Overall Planning
  • Present individual plans
  • Confirm roles and responsibilities
  • Session 3 Customer Perception
  • Current messaging to customers
  • Relative positioning
  • Session 6
  • Functional Planning
  • Create options
  • Optimal option identification

10
SEVERAL WORKSHOP ACTIVITIES COMPLETEDMarch
15thDay One
Workshop Overview
Time
Activity
Format
930 - 1100 1100 - 1230 1230 - 130 130 -
230 230 - 245 245 - 345 345 - 430 430
- 500
Arrival, tour, introductions Lunch Session 1
Introduction Session 2a Positioning
Survey Break Session 2b Competitive
Positioning Session 3 Customer
Perception Review of Day One conclusions and
preview of Day Two activities
All All All All All All All All
Note Day One meeting attendees included subset
of full CREDIT working group, specifically
central managers, branch managers, and other key
staff
11
SEVERAL WORKSHOP ACTIVITIES COMPLETEDMarch
16thDay Two
Workshop Overview
Time
Activity
Format
830 - 930 930 - 1030 1030 - 1045 1045
- 1200 1200 - 100 100 - 200 200 -
330 330 - 345 345 - 500
Review of Day One conclusions and selected
introduction materials Introduction to new
CREDIT strategies Break Session 4 and 5a
Aspiration Analysis and Brand Visioning Lunch Se
ssion 5b Brand Identity Formation Session 6
Functional Planning Break Session 6
Functional Planning (continued)
All All All All All All Breakout
session All Breakout session
Note Day Two meeting attendees included full
CREDIT working team
12
SEVERAL WORKSHOP ACTIVITIES COMPLETEDMarch
17thDay Three
Workshop Overview
Time
Activity
Format
830 - 930 930 - 1130 1130 - 1230 1230 -
300
Review of Day Two conclusions Session 7 Option
Selection Lunch Session 8 Overall Planning
All Breakout session All All
Note Day Three meeting attendees included full
CREDIT working team
13
FOLLOWING SIMPLE GROUND RULES MADE WORKSHOP MORE
SUCCESSFUL
Workshop Overview
  • Listen to and respect the ideas of others
  • Be open-minded to changing conventional thinking
  • Use past experience to aid, not constrict
    brainstorming
  • Keep goals of session, day, and workshop in mind
  • Workshop format and scheduling are flexiblewe
    need your input

14
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

15
SUMMARY OF RESULTS/FINDINGS
  • CREDIT-IBC working team issued client and
    stakeholder surveys, gathered data, and analyzed
    results
  • Surveys pointed to CREDITs strengths of good
    service, flexibility, and trust
  • Data also showed some discrepancies between
    perception and reality across selected measures
  • Group divided into Marketing, Operations, and
    Product Development teams to apply learnings to
    specific functions
  • Teams assessed current offerings and identified
    areas for opportunity
  • Each team created a list of potential projects as
    well as responsibility and timing for each

16
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

17
SURVEYS LED TO IDENTIFICATION OF SEVERAL
STRENGTHS AND BRAND VALUES
Survey Results
Key survey findings
  • Internal stakeholder conclusions
  • Product variety a positive, but sometimes hard to
    manage
  • Some perceived misalignment between offering and
    customer wants
  • Client awareness
  • Only 66 know that they are getting loan from
    CREDIT (suggests weak brand awareness)
  • Client service
  • Metrics around helpfulness, trust, consistency,
    and education very high
  • Strong service in most categories
  • Client product delivery
  • Customers very happy with rebate and terms of
    loans
  • Customers are generally happy with products
  • Identified 3 major strengths
  • Good service
  • Flexibility
  • Trust
  • Brainstorming on survey results led to
    identification of CREDITs 4 major brand values
  • Flexible
  • Fast
  • Leading
  • Trustworthy

Note Survey data from stakeholder and client
surveys
18
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

19
MARKETING TEAM MADE PROGRESS IN FOUR AREAS
Marketing Results
Process
Results
Issues outstanding/ next steps
  • Discussed negative connotations of CREDIT
  • Brainstormed possible future names
  • Decided name in Khmer first, with close English
    translation to follow
  • Entean Khmer or Thoneakea Khmer
  • Still no firm agreement on name
  • Need to agree upon potential replacement for
    CREDIT

Brand name
  • Full workshop group listed out potential tag
    lines
  • Marketing team narrowed potential list
  • Group decided tag line must be short, persuasive,
    and consistent with brand
  • Decided upon Trusted Financial Services
  • Need to seek Board approval of new tag line

Tag line
  • Marketing team assessed current logo
  • Also looked at famous corporate logos and
    competitive MFI logos
  • Discovered little differentiation between CREDIT,
    competitors
  • Came up with several ideas for logos, colors,
    shapes, symbols
  • Need to make sure logo is differentiator
  • Ensure logo represents brand well
  • Create logo examples

Logo
  • Discuss CREDITs use of public relations,
    personal selling, promotions, advertising, direct
    marketing
  • Agreed that communication should be consistent
    and represent CREDITs brand and values
  • Identify easy ways to expand marketing in the
    short term
  • Create long term marketing plan

Marketing mix
20
NEXT STEPS FOR MARKETING
Marketing Results
  • Communicate brand ideas to the CREDIT staff (End
    of March)
  • Obtain logo ideas from Aubrey Glynn (May)
  • Obtain funding for brand launch (June)
  • Propose name, logo, and tag line to the board of
    directors (June)
  • Submit necessary paperwork to government (July)
  • Prepare brand launch plans (3rd and 4th Quarter)
  • Communicate finalized brand elements to CREDIT
    staff
  • Create a strategy for how and when to introduce
    the new brand to the public (newspaper articles,
    public event)
  • Plan to change branch signage, appearance, and
    uniforms
  • Create an advertising strategy
  • Design new marketing materials (posters,
    brochures, signs, advertisements)
  • Launch and promote the new brand! (By end of 2006)

21
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

22
OPERATIONS TEAM RECOMMENDED 6 CHANGES
Operations Results
  • Shorter loan document
  • Delegate more loan approval authority
  • Standardized payment guidelines
  • More branches
  • Staff commitment and honesty
  • Improve branch decoration

1
2
3
4
5
6
23
SEVERAL INITIATIVES IDENTIFIED BYOPERATIONS TEAM
(I)
Operations Results
Key initiative
Tasks
Owner
Completion Timing
Revise/ Simplify Loan Document (faster, easier
approval process) Loan approval authority
delegation Payment guideline
standardization and enforcement
  • Complete MIS Implementation
  • Re-Draft Documents
  • Revise Loan approval process as needed
  • Train branch and sub-branch managers
  • Train Branch Staff
  • Determine new thresholds of approval
  • Submit recommendations to executive committee
  • Vote/ rule change
  • Train new decision makers
  • Inform, train managers/ staff
  • Complete MIS Implementation
  • Distribute new reports to staff
  • Meet with branch managers to remind of policy
  • Legal department memo clarifying policy
  • Branch managers meet with field staff
  • Ongoing monitoring, enforcement, incentive
    adjustments
  • TBD (Mach)
  • Mach
  • Mach
  • EC
  • Mach
  • Branch Mgrs.
  • TBD (Mach)
  • July-Sept 2006
  • Oct 2006
  • Sept 2006

24
SEVERAL INITIATIVES IDENTIFIED BYOPERATIONS TEAM
(II)
Operations Results
Key initiative
Tasks
Owner
Completion Timing
Office Expansion Staff Commitment and
Purpose Enhancement Standardized Branch
Decor
  • Review expansion plan and adjust as necessary to
    comply with more aggressive growth projections
  • Review capital investment financing policy
  • Propose additional financing
  • Adjust expansion plan as needed
  • Execute internal communication plan (see
    marketing group)
  • Communicate new strategy to staff (retreat)
  • Branch managers meeting with field staff
  • Revise HR management
  • Develop plan for continual staff motivational
    re-enforcement, and input gathering
  • Complete re-naming and logo work
  • Develop core physicals group (reps from Ops,
    marketing, branch)
  • Secure budget for needed materials
  • Re-decoration day
  • TBD (Mach)
  • TBD (Mach)
  • Done
  • In progress, done by end of 2006
  • 2007

25
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

26
SEVERAL PRODUCT DEVELOPMENT IDEAS3 SELECTED
Product Development Results
  • Higher maximum loan size
  • Flexible loan term length
  • Flexible payment frequency
  • Compulsory savings optional (no cycle saving)
  • Increase voluntary savings
  • Principal repayment corresponding to business
    conditions
  • More capital funding
  • Flexible service fee (fixed for big loans)
  • Improved system to support products
  • Staff capacity/commitment

27
FLEXIBLE TERM LOAN
Product Development Results
1

-
Next steps
Responsibility
  • Client want 24 month
  • MIS system complicated
  • Decide do or not do
  • Train new procedure
  • Internal communication
  • Promotion
  • Staff telling clients
  • Marketing promotion
  • Change forms/documents
  • GM (Paul)
  • Trainer HR (Hout)
  • Operations (Mach)
  • All staff at branches
  • Marketing (Nara)
  • Operations (Mach)

28
NO CYCLE SAVINGS
Product Development Results
2

-
Next steps
Responsibility
  • CREDIT stronger against competitors
  • Shorter transaction time
  • Easy to implement
  • Lose capital funding
  • Lower guarantees
  • Analyze and
  • Decide do or not do
  • Internal communication
  • Promotion
  • Staff telling clients
  • Marketing promotion
  • Change forms/documents
  • Finance (Vibol)
  • GM (Paul)
  • Operations (Mach)
  • All staff at branches
  • Marketing (Nara)
  • Operations (Mach)

29
FLEXIBLE SERVICE FEEAbove 1,000 Fixed Fee
Product Development Results
3

-
Next steps
Responsibility
  • Large clients happy
  • Increase number of clients
  • MIS ok
  • Easy to calculate for big clients
  • Loss income
  • Analyze and
  • Decide do or not do
  • Internal communication
  • Promotion
  • Staff telling clients
  • Marketing promotion
  • Change forms/documents
  • Finance (Vibol)
  • GM (Paul)
  • Operations (Mach)
  • All staff at branches
  • Marketing (Nara)
  • Operations (Mach)

30
POTENTIAL IDEAS WITH ROADBLOCKS TO EXECUTION
Product Development Results
Ideas
Roadblocks/ Things that need to happen first
1
Large loan size gt10,000 Flexible payment
frequency (3 months) Increase voluntary
savings Principal repayment corresponding to
business conditions More capital
funding Signage describing new products Staff
capacity/commitment
  • HRneed more experts, training
  • Fundingnot enough capital
  • New system needed
  • Linked to new marketing, promotions
  • New system
  • More internal controls
  • GM responsibility
  • Marketing responsibility
  • HR/GM responsibility

2
3
4
5
6
7
31
PRODUCT PIPELINE FOR THE FUTURE
Product Development Results
Personal loans
More flexible term deposits
Housing loan (5-10 years)
Fixed income loan
Consulting services
Micro insurance
Loans to other MFIs
32
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps

33
WORKSHOP SOLIDIFIED FINDINGS AND WAS STEPPING
STONE FOR IMPLEMENTING CHANGES Workplan For 2006
Next steps
Events
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
  • Research branding and engage CREDIT staff
  • Conduct image analysis with clients, staff and
    other key stakeholders
  • Create brand building teams
  • Conduct branding exercise
  • Create brand communication plans for internal
    staff and external audiences
  • Communicate internally/externally
  • Implement recommendations
  • Marketing
  • Operations
  • Product Development

Board Retreat
Workshop
Progress Update
Progress Update
Executive Meeting
Executive Meeting
Summary complete
34
PLAN FOR INTERNAL COMMUNICATION
Next steps
  • Staff retreat (March)
  • Summarize workshop ideas
  • Plan for future
  • Internal newsletter from Paul/Nara (Monthly)
  • Monthly updates on progress in organization
  • What is new (for example, logo, tagline, new
    products)
  • Meeting after Staff Devotions every week in
    branches (Every Monday)
  • Remind staff about strengths, values, best way to
    serve clients
  • Signs in branches (June)
  • Values, tag line
  • Modify training materials with values, strengths,
    tag line for new PO and CO (June)

35
OVERALL NEXT STEPS
Next steps
  • Continue to conduct functional team meetings
  • Solidify plans for short term projects
  • Present findings to Board in May
  • Communicate findings to other internal and
    external stakeholders
  • Create longer-term project plans

IBC team will continue to play role to develop
ideas and materials
36
AGENDA
  • Workshop overview and goals
  • Results/findings
  • Client and stakeholder surveys
  • Marketing
  • Operations
  • Product development
  • Next steps
  • Appendix

37
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

- APPENDIX -
38
WORKSHOP SESSIONS AND EXERCISES DESIGNED HELP
CREDIT MEET OUTLINED GOALS
Workshop Overview
Day 1 Current State
Day 2 Options
Day 3 Implement
  • Session 1 Introduction
  • Workshop goals, schedule
  • Intro to branding
  • Session 4
  • Aspiration Analysis
  • Optimal core values
  • Options to get there
  • Session 7
  • Option Selection
  • Confirm optimal options
  • Create plan for implementation
  • Session 2 Positioning Survey
  • Discuss survey results
  • Understand CREDIT SWOT
  • Session 5
  • Brand Visioning
  • Gap analysis
  • Possible branding options
  • Session 8
  • Overall Planning
  • Present individual plans
  • Confirm roles and responsibilities
  • Session 3 Customer Perception
  • Current messaging to customers
  • Relative positioning
  • Session 6
  • Functional Planning
  • Create options
  • Optimal option identification

- APPENDIX -
39
SESSION 1 INTRODUCTION
Workshop Overview
Activities and Topics
  • Present Workshop Introduction
  • Introductions (All)
  • Background on IBC and World ReliefIBC
    relationship (Brad)
  • Marketing plan background, goals, and progress
    (Wendy-Ann)
  • Workshop specifics
  • goals (Paul B.)
  • schedule (Erik)
  • ground rules (Molly)
  • CREDIT competitive positioning overview (Paul L.)
  • Branding introduction (Paul B.)

- APPENDIX -
40
SESSION 2 POSITIONING SURVEY
Workshop Overview
Activities and Topics
Goals and Output
  • Present survey resultsstakeholder, branch, and
    field
  • Discuss survey results generally
  • CREDIT SWOT
  • Correlation amongst results
  • Gaps in perception vs. reality
  • Best/worst areas to emphasize to prospective
    clients
  • Discuss survey results in more detail
  • How do clients and stakeholders respond
    differently?
  • Where are the biggest gapsservice, availability,
    value, awareness, trust?
  • Goals
  • Attain deeper understanding of survey results
  • Gain agreement on most important gaps in
    perception vs. reality
  • Reach a comfortable level of understanding with
    CREDITs current position, customer perception,
    and strategies
  • Output
  • Survey analysis
  • Notes on potential areas for change

- APPENDIX -
41
SESSION 3 CUSTOMER PERCEPTION
Workshop Overview
Activities and Topics
Discuss potential future competitive positioning
strategies Formulate One Simple Message for
one or a few area(s) of customer
perception Complete relative positioning map
- APPENDIX -
42
SESSION 4 ASPIRATION ANALYSIS
Workshop Overview
Activities and Topics
Goals and Output
  • Discuss mission and vision
  • Understand mission and vision
  • Identify link to current competitive positioning
    and customer perception
  • Understand gaps in mission vs. reality
  • Brainstorm on current brand values
  • What are the core values?
  • What would you like to hear people say about it?
  • Does CREDIT take a stand on something it believes
    in above everything else?
  • Does CREDIT have a heritage?
  • What story does it have to tell?
  • What is its essence?
  • Think about the Aspirational Brand given in the
    context of the mission
  • Goals
  • Formulate ideas to mitigate inconsistencies
    between mission, vision, and brand
  • Identify aspiration for future brand
  • Output
  • Notes on gap in mission vs. reality
  • Notes and brand values
  • Aspirational brand description

- APPENDIX -
43
SESSION 5 BRAND VISIONING
Workshop Overview
Activities and Topics
Goals and Output
  • Evaluate current brandis it important,
    distinctive, communicable, superior, affordable,
    profitable?
  • Examine brand values
  • Brand values needed to succeed
  • What values do you wish CREDIT had?
  • Should CREDIT de-emphasize certain brand values
    given the competitive climate?
  • Discuss feasibility and consistency of brand
    improvementsanalyze the aspirational brand
  • Brainstorm potential reactions to the new brand
  • Clients (old/new)
  • Internal stakeholders
  • Competitors
  • Examine customer needs and associations with new
    brand
  • Goals
  • Gain full understanding of current brand
  • Agree upon vision for future brand
  • Identify tangible brand improvement opportunities
  • Assess probability that new brand will work
  • Outline potential reactions and mitigating
    factors
  • Understand associations with current and future
    CREDIT brand
  • Output
  • Notes on current brand
  • Visioning document
  • List of improvement opportunities
  • Probability assessment document
  • Notes on potential reactions
  • Notes on customer needs and associations

- APPENDIX -
44
SESSION 6 FUNCTIONAL PLANNINGMarketing Team
Workshop Overview
Activities and Topics
Goals and Output
  • Create tag lineagree upon CREDIT aspects
    highlighted by tag line
  • Create logo
  • Select optimal plan for using signage to convey
    tag line, logo, and advertising
  • How should pamphlets and posters look?
  • How should they be used in the overall marketing
    strategy?
  • Create Public Relations toolkit
  • Devise consistent message for all of CREDITs
    marketing materials
  • Use press, publicity, public affairs, lobbying,
    investor relations, and development as potential
    outlets
  • Think of creative ways to advertise new brand
  • Are there new mediums?
  • What do competitors do?
  • Goals
  • Create potential tag line(s)
  • Create new logo(s)
  • Select best signage strategy
  • Create consistent PR message and determine
    optimal PR outlets
  • Agree upon advertising strategy
  • Output
  • Tag line options
  • Logo options
  • Signage strategy document
  • PR message and strategy document
  • Advertising strategy document

- APPENDIX -
45
SESSION 6 FUNCTIONAL PLANNINGOperations Team
Workshop Overview
Activities and Topics
Goals and Output
  • Determine ways in which branch service would
    change
  • As a direct result of branding change
  • As a proactive response to survey results and
    internal discussion
  • Determine ways in which administrative tasks
    would change
  • As a direct result of branding change
  • As a proactive response to survey results and
    internal discussion
  • Goals
  • Select highest value/easiest to implement branch
    changes
  • Select highest value/easiest to implement
    administrative changes
  • Output
  • Prioritized list of branch improvements
  • Prioritized list of administrative improvements

- APPENDIX -
46
SESSION 6 FUNCTIONAL PLANNINGProduct
Development Team
Workshop Overview
Activities and Topics
Goals and Output
  • Assess CREDITs product mix
  • Right products for right customers?
  • Other products needed?
  • Product bundling effective?
  • Products at each price point?
  • Assess CREDITs pricing mix
  • Do customers find CREDITs pricing fair?
  • More or less expensive than competition for
    particular products?
  • Assess CREDITs loan terms
  • Are customers getting the right size loan?
  • Is the payment schedule appropriate?
  • Are loans denominated in a currency that makes
    sense for borrowers?
  • Identify highest value and most feasible options
    for product mix, pricing mix, and loan terms
  • Goals
  • Understand product mix, pricing mix, and loan
    terms
  • Identify gaps and areas for improvement
  • Agree upon optimal options
  • Output
  • Notes on product mix, pricing mix, and loan terms
  • Gap analysis and areas for improvement document
  • Outline of optimal options

- APPENDIX -
47
SESSION 7 OPTION SELECTION
Workshop Overview
Activities and Topics
  • Recap results from Day Two and review selection
    criteria for best option
  • Detail out recommendations
  • How it works
  • Pros/cons
  • Value/feasibility assessment
  • Create implementation plan
  • Timing
  • Roles and responsibilities
  • Stakeholder involvement
  • Deliverables

- APPENDIX -
48
SESSION 8 OVERALL PLANNING
Workshop Overview
Activities and Topics
Goals and Output
  • Recap workshop goals and introduce afternoon
    session
  • Present findingsassessment criteria,
    recommendations, high-level implementation plan
  • Marketing team
  • Operations team
  • Product development team
  • Discuss as full group and agree upon strategy
    going forward
  • Devise overall implementation plan
  • Roles and responsibilities
  • Timeline and deliverables
  • Coordination across groups and with other
    stakeholders
  • Communication strategy
  • Goals
  • Complete functional team presentations
  • Address any issues
  • Agree upon strategy
  • Create implementation plan
  • Output
  • Notes on presentations and issues raised
  • High-level overall strategy document
  • High-level implementation plan document

- APPENDIX -
49
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

50
STAFF SURVEY RESULTS (I)Mission and Vision
Survey Results
CREDIT has clearly articulated mission and vision
statements
CREDITs core values are practiced and complement
its mission


Vision and value are understood and shared by
staff and stakeholders
CREDITs program and client outreach reflect its
vision and values


- APPENDIX -
51
STAFF SURVEY RESULTS (II)Strategy
Survey Results
CREDITs program has clearly defined strategy
Staff understand and are on board with Strategy


Strategy focuses on retaining and growing base
Strategy focused on sustainable practice


- APPENDIX -
52
STAFF SURVEY RESULTS (III)Staff and Image
Survey Results
Staff are competent, responsive, and helpful
Funding contacts hold a positive image of CREDIT
and its services


General public and potential clients hold
positive image of CREDIT and its services
Other MFIs have positive image of CREDIT


- APPENDIX -
53
STAFF SURVEY RESULTS (IV)Products and Services
Survey Results
CREDIT has broad range of products and services
CREDITs products/services are designed with
clients in mind


Products and services are competitive
Products and services are designed to contribute
to MFI profitability and market position


- APPENDIX -
54
STAFF SURVEY RESULTS (V)Other
Survey Results
CREDIT actively seeks to retain and grow clients
CREDIT program methodology is clearly defined and
well communicated


CREDIT uses appropriated technology to increase
depth of impact
CREDIT actively seeks to implement technology to
improve service delivery and product quality


- APPENDIX -
55
CLIENT SURVEY RESULTS (I)Inconsistencies in Name
Recognition
Survey Results
What is the name of the organization which is
giving you a loan?
You are very familiar with CREDIT


- APPENDIX -
56
CLIENT SURVEY RESULTS (II)Service
Survey Results
Service from CREDIT officer is quick and helpful
Service takes too long


CREDIT officers are educated and intelligent
The atmosphere with CREDIT is warm and comfortable


- APPENDIX -
57
CLIENT SURVEY RESULTS (III)Service
Survey Results
CREDIT officers are aggressive and unfriendly
Staff is helpful


Service is predictable and consistent
Service is most important to me


- APPENDIX -
58
CLIENT SURVEY RESULTS (IV)Service
Survey Results
Branch managers visit you
Branch offices are easy to get to


You feel you have a strong relationship with the
loan officer
You are willing to pay a higher rate for superior
service and assistance


- APPENDIX -
59
CLIENT SURVEY RESULTS (V)Product Delivery
Survey Results
You are satisfied with the rebate you received
You are happy with the terms of your loan


You received a product that fits your needs
You pay at the office because of the rebate


- APPENDIX -
60
CLIENT SURVEY RESULTS (VI)Perception
Survey Results
You rely on the CREDIT name as a symbol of
quality and reliability
You trust the CREDIT employees you meet


You feel confident that your savings are safe
You are aware of all the products and services
that CREDIT offers


- APPENDIX -
61
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

62
TEAM CHARTER MARKETING
Team Charters
Purpose and goals
Team profile
The Marketing Team matches CREDITs core brand
identity with its communication and marketing
strategies. The team actively markets CREDITs
products to the appropriate customers and
highlights the ways to project a unified brand at
CREDITs offices and branches by its employees to
its customers.
  • Team leader manages 3-4 members
  • Team leader is a member of the CREDIT HQ staff
  • The team is made up of employees from various
    offices/functions to ensure that
  • multiple branches represented
  • link to product development/operations

Team Tasks and Responsibilities
  • Prior to workshop
  • Begin intra-team communication, delegate
    responsibilities to team members, review current
    branding and marketing strategy, understand
    current competitive product positioning
  • During workshop
  • Start to develop CREDITs future brand identity,
    match an updated brand identity with needs of
    clients, employees, and stakeholders, get input
    from product development team and operations
    teams on potential strategy and
    capabilities/constraints, create high-level
    implementation plan
  • After workshop
  • Create a detailed implementation plan, initiate
    marketing changes, continuously measure
    internal/external effectiveness of marketing
    strategy

- APPENDIX -
63
TEAM CHARTER OPERATIONS
Team Charters
Purpose and goals
Team profile
The Operations Team implements product portfolio
and marketing strategies at CREDITs
headquarters, at branches, and in the field. The
Operations Team also manages best practices for
customer service, MIS, and administration.
  • Team leader manages 3-4 members
  • Team leader is a member of the CREDIT HQ staff
  • The team is made up of a cross section of
    employees from various offices/functions to
    ensure that
  • multiple branches represented
  • link to product development/marketing

Team Tasks and Responsibilities
  • Prior to workshop
  • Begin intra-team communication, delegate
    responsibilities to team members, review current
    operations practices across customer service,
    MIS, and administration, identify best practices
    at competitors
  • During workshop
  • Identify best practices (strategic changes, short
    list of improvements, strengths and weaknesses of
    branches, regional/branch differences,
    internal/external) for putting into operation
    various marketing and product development create
    high-level implementation plan
  • After workshop
  • Create a detailed implementation plan, initiate
    operations changes at HQ and branches, monitor
    progress

- APPENDIX -
64
TEAM CHARTER PRODUCT DEVELOPMENT
Team Charters
Purpose and goals
Team profile
The Product Development Team is responsible for
all product design. The Team utilizes input from
the Marketing and Operations teams to understand
customer needs and is able to dynamically manage
the product portfolio to optimize CREDITs
offerings to its clients.
  • Team leader manages 3-4 members
  • Team leader is a member of the CREDIT HQ staff
  • The team is made up of employees from various
    offices to ensure that
  • multiple branches represented
  • link to marketing/operations

Team Tasks and Responsibilities
  • Prior to workshop
  • Begin intra-team communication, delegate
    responsibilities to team members, review current
    product portfolio, identify competitive product
    positioning strategies
  • During workshop
  • Perform detailed product portfolio assessment,
    brainstorm potential changes to product
    portfolio, get input from marketing team and
    operations teams on potential strategy and
    capabilities/constraints, create high-level
    implementation plan
  • After workshop
  • Detail out implementation plan, initiate product
    changes, monitor progress, refine long term
    strategy

- APPENDIX -
65
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

66
CREDIT MARKETING PLAN DESIGNED TO HELP CREDIT
RESPOND TO CUSTOMER NEEDS
Marketing Plan
Background
  • In June 2005, marketing assessment conducted with
    CREDIT involving interviews with clients and
    staff
  • Research also involved looking at CREDITs
    competitors and trying to understand CREDITs
    positioning in the local MF industry
  • Purpose of the assessment and the marketing plan
    was to help CREDIT strengthen its competitive
    position in order to provide better services to
    its clients

Goals
  • Create a stronger foundation for the institution
    to deliver better services and products to
    clients
  • Differentiate CREDIT from its competitors by
    establishing a niche in the industry
  • Help staff to consistently articulate CREDITs
    strengths and differentiators to prospective
    clients and donors
  • Expand outreach to 17,000 clients by December 2006

Update
  • CREDIT will work towards completing several tasks
    over the next few months
  • corporate branding exercise to help CREDIT
    differentiate itself from its competitors
  • communication of CREDITs brand/image to staff
    and then externally to clients and donors
  • product branding exercises to help differentiate
    CREDIT products

Workshop a key component for success
- APPENDIX -
67
CREDIT IDENTIFIED MANY INTERNAL STRENGTHSFrom
2005-2006 Marketing Plan
Marketing Plan
  • Experienced and committed staff and board members
  • Strong portfolio quality
  • Good systems for internal control, management
    structure and policies
  • Strong staff developmenttraining opportunities
    both locally and overseas are offered to staff
  • Management is creative in coming up with new
    methods and strategies to reach goals
  • CREDIT offers more products than many MFIs
  • Good reputation and good relationship with local
    authority
  • Volunteer savings product has been piloted for
    nearly 3 years already. This product is being
    expanded to include term deposits since clients
    tend to revolve their money through the current
    account without increasing their savings
  • CREDIT is one of the few organizations offering
    larger individual loans (over 1,000). These
    loans are profitable as clients usually pay at
    the office and they are collateral secured

- APPENDIX -
68
CREDIT ALSO IDENTIFIED MANY INTERNAL
WEAKNESSESFrom 2005-2006 Marketing Plan
Marketing Plan
  • In many areas, CREDITs competitors have already
    won the best areas. Often CREDIT can only win
    new clients by enticing them from the competitor
    or going far from market areas to areas with low
    population density. This has not proven to be
    effective or efficient
  • With a high concentration of clients, larger
    players are able to offer mainstream products. To
    be competitive, CREDIT has had to develop a large
    range of flexible products. As a result, there is
    a strong focus on loan assessment, which is a
    time consuming process
  • CREDITs size and market share make it difficult
    to carve out a clear market niche, which has
    ended up being a flexible range of loan products.
    This is complex and time consuming to administer
    and requires a diverse range of skills by staff
  • CREDIT is keen on developing new products, but
    the demands for high portfolio quality and
    efficiency minimizes this. Typical constraints
    are
  • risk management (e.g. agricultural loans)
  • cost some innovative products are expensive to
    administer (e.g. rice banks and business start up
    loans with a training component)
  • CREDIT does not pay the local authority a
    percentage of interest income. As a result, many
    village leaders cooperate with MFIs who do pay
    the fee, rather than CREDIT
  • The current loan tracking system is not flexible
    enough to allow clients to pay as they prefer.
  • CREDIT identified software that to handle these
    terms
  • installation of new MIS in June 2005 had to be
    aborted

- APPENDIX -
69
CUSTOMER SATISFACTION SURVEY OFFERS EXTERNAL VIEW
OF CREDITS OFFERINGSFrom 2005-2006 Marketing
Plan
Marketing Plan
  • With increases in competition since 2002, clients
    are becoming more educated as they shop around
    for appropriate products. Larger MFIs such as
    ACLEDA and PRASAC are finding more efficient ways
    to serve their clientele (by maximizing outreach)
    and lower interest rates
  • Clients suggested that they were loyal to CREDIT
    and were unaware of what competitors were
    offering. However their suggestions for changes
    in product features illustrated their growing
    awareness of the services of other MFIs
  • CREDITs clients express overall satisfaction
    with the products offered to them highlighting
  • friendliness of staff
  • speed in processing applications
  • incentives (such as rebates for early repayment)
  • Clients expressed dissatisfaction in the
    following areas
  • group lending methodology due to mistrust or
    inconvenience, many clients have been trying to
    get individual loans, even when not qualifying
    for them
  • 28-day repayment cycle Many pay monthly instead
  • mandatory savings component some clients like
    the product, others concerned about low interest
    rate
  • At present, agricultural loans are offered only
    in some areas, but there is demand for this
    service in other regions

- APPENDIX -
70
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

71
COMPETITIVE POSITIONING OVERVIEW (I)
Competitive Positioning
Positioning
Product
People
  • Flexible and responsive
  • Christian organization
  • Credit gives you hope
  • Credit, savings
  • Riel, dollar
  • 18 months / 10,000
  • 11,500 clients/95 W
  • ID/SG
  • 35lt1/day

CREDIT
AMRET
  • Largest licensed MFI
  • With you, for you
  • Credit, savings, CD
  • Riel only
  • 24 months
  • 102,583 clients
  • Vas / Committee
  • Poor focus
  • Entrepreneurship building
  • The better you know, the better you get
  • Credit, savings
  • Riel, dollar, baht
  • 18 months / 10 M Riel
  • 8,293 clients/100 W
  • Agri-loans (IFAD)

CEB
PRASAC
  • Rural development
  • Targets very poor
  • Credit only
  • Riel, dollar
  • 24 months / 10,000
  • 67,553 clients
  • ID / SG
  • 64 Agri-loans
  • Market Leader
  • Fast and reliable
  • The bank you can trust
  • Credit, savings, transfer, exch., c.cards
  • Riel, dollar, baht
  • 24 months / gt10,000
  • 122,173 clients
  • ID
  • 17micro entrepreneurs

ACLEDA
TPC
TBD
  • Credit, savings
  • Riel, baht
  • 12 months / 20 M Riel
  • 37,500 clients
  • 85 lt 1/day
  • ID / SG

- APPENDIX -
72
COMPETITIVE POSITIONING OVERVIEW (II)
Competitive Positioning
Process
Place
Performance
  • Split btw promotion / collection
  • Compulsory saving
  • Incentive / rebate
  • Office / Field
  • 5 branches, 8 sub
  • 6 provinces, 650 villages
  • Total portfolio 2,563,930
  • Portfolio 30 5
  • Repayment rate 97

CREDIT
AMRET
  • Village associations
  • Solidarity Groups
  • Fee for village chiefs
  • Office / Field
  • 11 provinces - South
  • 1,154 villages
  • Total portfolio 7,811,441
  • Repayment rate 99
  • Same as CREDIT
  • Pre-saving 2
  • Informal communication
  • Office / Field
  • 14 offices
  • 5 provinces, 500 villages
  • Total portfolio 3,483,532
  • Repayment rate 99
  • Portfolio 30 1.08

CEB
  • Collection by single CO
  • Rotation of staff
  • Fee for local authorities
  • Office / Field
  • 12 office
  • 9 provinces, 3,300 villages
  • Fast growing
  • Total portfolio 7,864,255
  • Repayment rate

PRASAC
  • Intensive communication radio, website,
    calendar, diary
  • Office only
  • 14 branches, 119 offices
  • Largest network
  • Good reputation
  • Total portfolio

    65,908,831

ACLEDA
  • Collection by single CO
  • Rotation for checker
  • Compulsory saving 5 10
  • Office / Field
  • 10 offices - Southwest
  • 9 provinces, 1500 villages
  • Total portfolio 3,701,990
  • Portfolio 30 0.71
  • Repayment rate 94.7

TPC
- APPENDIX -
73
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

74
BRANDING OVERVIEW SUMMARY
Branding Overview
Brand linked to vision and mission
Re-branding reaffirms cohesion across organization
  • A brand, first and foremost, is an extension of
    the vision and mission of an organization
  • Aligns with internal goals and desires
  • Further matches with customer needs
  • Successful customer segmentation is key for brand
    success
  • For CREDIT, this should be a continuous process

A cohesive brand needs agreement from all
functions of an organization, e.g. marketing,
operations, product development An active
re-branding effort is a time to step back and
ensure brand identity and customer segmentation
are optimal for the organization Workshop a
key step in CREDIT re-branding
- APPENDIX -
75
BRAND IDENTITY SHOULD NATURALLY FLOW FROM VISION
AND MISSION
Branding Overview
CREDIT Vision / Mission
Brand Identity
  • CREDIT Vision
  • Cambodians have the opportunity to develop their
    livelihoods and experience full and productive
    lives
  • CREDIT Mission
  • To provide financial services to small and micro
    entrepreneurs including the poor and vulnerable
    through excellent service, positive
    relationships, and a strong sustainable
    institution

The brand identity is perception-based at its
core If the brand identity matches with the
vision/mission, then the target customer should
fall into place However, if the brand appeals to
the wrong customer group, then the vision/mission
might not be realized Critical link must be
maintained and nurtured between vision/mission
and target customer through brand identity
Note Vision and Mission from revised CREDIT
documentation
- APPENDIX -
76
BRAND NEEDS TO SUPPORT REALIZATION OF
VALUESCREDITs Value Statements For Clients,
Staff, Organization
Branding Overview
Values relating to Clients
Values relating to Staff
Values relating to the Organization
  • Products designed to meet clients needs
  • Responsible lending help clients avoid the debt
    trap
  • Clients may pay at office or in their own village
  • Range of payment schedules available
  • Focus on building client loyalty through service
    excellence and incentives
  • Developing positive relationship among clients,
    between clients and staff
  • Staff recruitment, selection and training are
    based on the belief that our clients are valuable
  • The team is built through a respectful,
    supportive, energetic and innovative work
    environment
  • Commitment to building staff capacity
  • Providing staff with opportunities for career
    growth within the organization
  • All staff are focused on and committed to the
    goal of achieving organizational sustainability
  • Maximizing operating efficiencies
  • Increasing outreach to meet the needs of more
    clients and increase interest income
  • Balancing micro loans with a portfolio of high
    quality medium (over 1000) loans provided to
    suit special situations

CREDITs values were important for Brand
Aspiration session
Source CREDIT documentation
- APPENDIX -
77
ACCURATE CUSTOMER SEGMENTATION ESSENTIAL TO
DEVELOPING THE RIGHT BRAND
Branding Overview
  • Customer segmentation can begin using two sets of
    characteristics
  • Demographics, background, attitudes, lifestyle,
    shopping behavior
  • Size, NPV, share, loyalty, retention, profit
    formula
  • Developing and maintaining a strong brand
    requires
  • A Rigorous assessment of the audience and of the
    brand positioning in the minds of those people
  • Creating an emotional link between the products
    and the clients
  • The overall brand ought to be projected to full
    customer base
  • However, specific aspects of the brand should be
    highlighted for different customers segments
  • One caveat is not sacrificing the overall brand
    identity to service one particular customer
    segment

- APPENDIX -
78
RE-BRANDING REQUIRES COORDINATION THROUGHOUT
PROCESS
Branding Overview
Re-Branding Process
Share knowledge with all key functions
Brainstorm potential branding changes
Agree upon feasible changes
Implement and monitor
Realize potential need for re-branding
Gather data
Prepare Completed
Perform Workshop
Assess Post-Workshop
- APPENDIX -
79
APPENDIX
  • Workshop overview and goals
  • Client and stakeholder surveys
  • Team charters
  • 2005-2006 Marketing Plan highlights
  • Competitive positioning overview
  • Branding overview
  • Pictures

80
CREDIT WORKSHOP IN PICTURES (I)
Pictures
- APPENDIX -
81
CREDIT WORKSHOP IN PICTURES (II)
Pictures
- APPENDIX -
82
CREDIT WORKSHOP IN PICTURES (III)
Pictures
- APPENDIX -
83
CREDIT WORKSHOP IN PICTURES (IV)
Pictures
- APPENDIX -
84
CREDIT WORKSHOP IN PICTURES (V)
Pictures
- APPENDIX -
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