Application Of 7ps In Western Union Money Transfer & Service Creation And Delivery

2408 words - 10 pages

Overview

The Western Union Company is the global leader in electronic money transfer. In this market, Western Union holds an 18% global market share.
Western Union offers a quick, convenient and reliable way to send and receive money around the world in minutes. Originally founded in the United States in 1851 as the Western Union Telegraph Company, Western Union is now active in 200 countries, with more than 375,000 points of sale, processing in excess of 109 million transactions every year. Western Union is a Fortune 500 company, and its logo is ranked among the world’s Top 50 Brands.
Vision: To become a dynamic business oriented organization, serving the needs of customers and other ...view middle of the document...

Core product of western union money transfer:
In case of Core product for western union is transferring the money from one place to another even from one country to another country. A person can transfer the money from anywhere in the world.
Supplementary products of Western union money transfer:
In case of Supplementary products for western union are –
* Money Order Service
* Prepaid Card Service
* Corporate Incentives
* Home Delivery

02. Place and time
Place and time is very important element in 7ps. Delivering the product elements to customer involves decisions on where, when and how the product is delivered to customer. Delivery may involve use of physical or electronic channel, depending on the nature of service. Place includes:

* Geographic locations served
* Physical and electronic channel
* Customer control
* Convenience
* Channel partners or intermediaries.

* Geographic locations served:
Western Union operates through a network of approximately 485,000 Agent locations in 200 countries and territories. So, the customers can access the service of western union “Anytime, Anywhere”. Western union always opens for the customers.
* Electronic channel:
Western union uses a specific server to transfer the money from one country to another. The server is linked with the every agent. When anyone wants to transfer the money, then the information is stored in a server. With the help of server, the information is available in any agent location. This is how money is transferred from place to place.
* Physical channel:
The money that is transferred through server is available in any agent location. In order to collect the money, the customer should present physically in agent location.
* Customer convenience:
The agents of western Union are most convenient “Anytime, Anywhere”. So the customer can collect the money easily and in more convenient.
* Channel partners and intermediaries:
As we know today’s competition is not about the brand, today’s competition is about the network. If an organization has a strong network, then the organization definitely gets the success. Western Union covers 200 countries with 485,000 agents.
Service of western union is distributed through-
* Physical channel
* Electronic Channel

Places of western union money transfer in Bangladesh.

The money is transferring the money from one place to another through electronic Channel. To receive the cash that means to receive the service from western union the customer have to present physically.
Distribution options:
* Customer goes to service personnel
* Service personnel go to Customer home
* Service transaction is conducted remotely
Among those Distribution options western union follow two Distribution options-
* Customer goes to service personnel
* Service transaction is conducted remotely
Another options Service personnel go to Customer home is not...

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