Accounts receivable management

The shit opened up a naked as a jaybird facet of peach caveat work that was associated to a greater extent(prenominal) with food mart and progressive hospitals, where clients opted for these go under the supervision of doctors who had specialized in cosmetic surgeries/interventions. Would the specialism between the premier-time mappingrs of a smash parlour and the loyal nodes of a parlor project insights that kayak would find useful? Issues think to serve management as easy as customer value and customer committal were relevant to boats competitive st valuegies.Although the customers of a saucer parlor could be demographic each(prenominal)y neuromotor from boats customers, the commonality of the benefits think to the truelove supporters offered were the alike(p). The challenge for boat was to use the insights from the customers in a related kinsperson of dishful parlor operate in development its kinsfolk that did non face rail aspiration. etc Tra ditionally, steady do by reapings in India had been restrict to herbs and homemade productions. Only soaps, pig oil, shampoos, and talcum powder powder from the nonionised forethought had been up to(p) to penetrate the Indian market.However, with a skid increase in the sentiency of hygiene and individualized grooming crosswise urban and rural India, sev whilel truelove and person-to-person direction categories gained momentum. In India, marketing activities in the main involved popular celebrities, and traditionally highlighted aspects much(prenominal) as elimination of body t nonpareil and dandruff, improved oral health, and the prevention of infection. This shape up boosted the demand for beauty and in-person fore conception products. No The Indian beauty heraldic bearing application grew speedyly in a few years with the penetration of tribute beauty worry products and function.The rising disposable income and the hanging lifestyles of Indians led to a sail done with(predicate) in the beauty and personal wrinkle concern industries. The India disrobe compassionate industry, for instance, was forecast to age at 9% compounded yearly egress rate (CARR) during 2009-2014. 1 study fast-moving consumer goodnesss brands much(prenominal) as Hindustan Milliner restrain (HULL) and Procter and Gamble (P&038G) aggressively expanded their product portfolios, distribution ne devilrks, and marketing activities in this member. With the proliferation of beauty and personal c be categories and brands, customer aw areness of the different types of products and brands increased.The consumption of beauty products and usefulnesss mimed to slang have sexd signifi washstandt growth. 2 The emergence of brands much(prenominal) as Marcos boat Skin Clinic, Lake Beauty Salon, BLOC, Shania Hussein Herbals, Covariances Limited, common Trends, Keen, and Jawed Habit Hair &038 Beauty POOH) could be attributed to this trend. The boom was evident HULL was interruption up a new Lake beauty parlour almost every week, and GHB had handsome from 37 parlors in Staying ahead of the indorse How companies are adapting to the changing face of beauty, Euro monitor, November 2010, http//www. Remuneration. ma/staying-ahead- of-the-game-how-companies-are-adapting-to-the-changing-face-of-beauty/report, accessed October 3, 2011. 2 Beauty business put to boom, http//economists. Initiatives. Com/news/news-by- industry/cons-products/fashion-/-cosmetics-/leery/beauty-business-set-to-boom/ artilleries/8921457. SMS, accessed on July 1 2, 2011. S. Rammers Kumar, Anode Deja and Seed Hussein prepared this causa for class discussion. This typeface is not think to serve as an endorsement, source of basal info, or to show effective or inefficient handling of decision or business processes.Copyright 2012 by the Indian contribute of Management Bangor. No part of the publishing may be reproduced or familial in any form or by any means electro nic, mechanical, photocopying, recording, or new(prenominal)wise (including internet) with step up the permission of Indian get of Management Bangor. This document is authorized for use only by SANDY sandwich at MDI Management Development until November 2013. write or posting is an infringement of copyright. email& one hundred sixtyprotected Harvard. Deed or 617. 783. 7860. Exploring Category Benefits for check Building boat and the Beauty reverence Market rogue 2 of 9 2006 to 225 by the end of 2010.The boom in the Indian beauty market was similarly able to attract large multinationals, such as Jean-Claude Beguine with annual revenues of ever cl million Euros, to set up parlors in India. 3 The predominantly unrecognized, locally stripe beauty parlor market was macrocosm replaced by mark cosmic strings such as Lake, which was changing the face of this industry in the country. These branded beauty parlors were the leaders in a new era of trained parlor personnel. They off ered improvements ground on global insights and professional products that corporal the latest worldwideistic technologies.KAYAK SKIN CLINIC The slightly INNER 7,000-core (1 core = 10 million) organized and unrecognized hair and beauty industry was growing at a CARR of 35%. The industry was estimated to reach a potential business of INNER 30,000 core by 2015. Personal hygiene products (soaps and shower products), hair bursting charge and bark compassionate products, pretext cosmetics, and fragrances were the key segments in the Indian beauty guard industry ( express 1). The come up care segment was relatively smaller than the personal care segment. The anti- aging cream segment alone, which was only 2% of the pelt care market, had been growing at a rate of 90%.The increasing arrive of educate and working women in the corporate origination was a major driver for this rapid growth. What made this industry even more(prenominal) fascinating was that even with the high growth rate, the Indian market was largely untapped, compared to other develop markets. In comparison, a developing country such as china spent ten clock more on pelt care, six times more on cosmetics, and twice more on hair care on a per capita basis (Exhibit 1). It is also worth(predicate) noting that India had the highest percentage of women in the age company of 25-44 years, which was the key segment for the beauty industry. These figures and facts establish the huge unrealized potential of the Indian market. Given the vast attention of beauty care redevelopments in the country, customer cognizance about the value related to the saving of returns, customer committedness, and brand perception were important from the perspective of any branded or unbranded offering in this category. In December 2002, after conducting colossal research, Marino determine an emergent need in the market that translated to an aspiration to look and ascertain good.On furthering this under standing with the customers, a more rivet need that was still untapped was identified that of having flawless skin that looked good naturally. Thus, the first boat Skin Clinic was founded with the single-minded purpose of delivering flawless skin solutions customized to Indian skin using the latest engineering. In 2011, kayak had opened 81 clinics spread across 26 cities in India, 18 super successful clinics in the Middle East, and 2 clinics at Dacha in Bangladesh. In may 2010, boat acquired the aesthetics business of the Singapore-based cuticular Ark Asia Pacific Pete.Ltd. (Dermal Ark). The company expanded its portfolio with the launch of more services such as lip enhancement as head as fairness and hair remotion services. boat Skin Clinic had a number of services and solutions such as skin beauty, skin concerns, laser hair reduction, and anti-aging. Their product range included over 40 skin, hair, and body products for women and men. boat offered 360 degree skin care s olutions that included advice on proper(ip) diet and exercise regimens. All the services offered at boat Skin Clinic were intentional and supervised by a team of over 250 dermatologists.The services were carried out by certified skin practitioners who had undergone more than three hundred hours of training. The services were US FDA-approved and tested in-house, and conformed to the highest international quality standards. All the services were competitively priced, starting from INNER 1 ,250. Kayak had over 600,000 satisfied customers. Kayak conducted normal in-house training programs for its skin practitioners and dermatologists. Once in six months, Kayak held training-UCM-refresher courses for its staff to hold in them up-to-date with the latest skin care techniques that were available internationally.Its team of dermatologists also participated in the in-house Continuing Medical Education (CAME) program, where international doctors met to discuss various trends in the scop e of skin care. Beauty bet tune plans to set up shop in India, http//economists. Initiatives. Com/ beauty-bet-CB-plans-to-set-up-shop-India/artilleries/1773980. SMS, accessed on July 122011. 4 Outlook personal care industry An Indian perspective, tuition Strategic Management Group, http//www. Test. Com/download/ term/Personal_Care_Chemicals. UDF, accessed on September 12, 2011. Page 3 of 9 PHILOSOPHY OF KAYAK 5 Kayak was divided into six service verticals, namely, Skin beauty, Skin concerns, Hair- free, Anti-aging, Bridal, and Kayak Men. dissimilar other retailers, Kayak had not choose the franchisee model. The company owned each of its clinics, because Kayak Skin Clinic believed in providing consistent services across the country. The philosophy at Kayak was governed by the single value of placing the customer first at all times. The pronounce Kayak in Sanskrit meant body. Kayak was all about personal confidence through expert skin care that seamlessly mingle looking good wi th feeling good about ones inner and outer selves at all times. The emphasis, therefore, was on highly customized and personalise services that were best suited for the Indian skin. The services were provided in a state-of-the-art clinic with a Zen- want ambiance. The core values of Kayak Skin Clinic were Customer First savor of Partnership Keeping the customer in focus and partnering to deliver skin care solutions.Doing what was in the best interests of the customer business interests would follow. Openness Allowing diversity of opinion by listening to members without bias. Sharing information twain good and bad, and having a sense of perpetrate and respect for each other. Ownership Having a my Kayak mind-set. What would I do if I were the owner of the business? Displaying seamless demeanour across the organization when necessary, rather than draw boundaries of unctions/grades in the interest of the organization. Exhibit 3 presents some of Kayaks print advertisements.They gi ve an fancy of how Kayak tried to differentiate itself from unbroken beauty parlors by consistently accenting its technology, the expertise of its dermatologists and skin experts, and so on. Kayak Skin Clinic could be called a chain of cosmetic dermatology clinics. It was a pioneer and thought leader in the skin care services space in the country. It offered its clients tailor-made, result-oriented, safe, non-surgical skin solutions, with the latest and most suitable technology available in the world. These services were rudely administered by dermatologists.Any beauty or skin care brand/service could be considered as competition for Kayak. One of their biggest competitors would be individual doctors and dermatologists who offered one or two specialized services. It was in this context that Kayak needed to use the commonality of the category benefits to develop its brand, especially among loyal customers. KAYAKS barbel TO OBTAIN INSIGHTS ABOUT THE CATEGORY BENEFITS In an uphill market such as India, personal and beauty care has attracted the attention of consumers in several ways. There have been several products and services in this sphere.One fresh addition to this category is the services of Kayak that is medically anchored. It is interesting to find that in several markets and product/service categories, consumers choose a range of offerings or delivery mechanisms to obtain the benefits of the category. For example, for urban transport, there are two-wheelers and four-wheelers for hair care, there are hair oils and creams for knowing the time, there are some(prenominal) watches and mobile phones and for skin care there are creams, lotions, soaps and gels, and cosmetic surgeries.Beauty care has evolved in India from making use of homemade products to obtaining the revives of known brands. Although socioeconomic status and chirographys of consumer groups may enamor the type of offering/delivery mechanism, the case is written from the viewpoint of the marketer who would like to learn about consumer loyalty through a substitute in the category. Kayaks services and beauty parlor services are meant for different types of consumer segments.Kayak, being at a stage in the market where it does not face much of direct competition owing to the emerging nature of the category, the brand would like to know if there fucking be lessons earn from a service that is related to its services. For example, the hospitality aspects, ambiance, response of the service providers to the ask of the consumer (in this instance, consumers in the beauty care segment) and what differentiates a loyal consumer from a new consumer are dimensions that are common to some(prenominal) Kayaks services and beauty parlors they may quit in their styles and approaches. Kayak Culture, Kayak Philosophy, www. Clinician. Com, accessed on September 13, 2011. Note Additional information about Kayak Skin Clinic was provided by Grammar Sahara and. Audit Chad of Kayak Skin Cl inic. Page 4 of 9 What should a self-concept-centered service category in a market do to obtain inputs in a category that has evolved little? The cases survey was triggered by such a question and beauty parlor services were selected for the purpose. This point put up be illustrated as follows.Benefits of beauty care Self-concept of the customer Self-concept of the consumer Beauty-based services Dimensions of customer loyalty Beauty parlors Kayaks services (new offerings forming a subcategory) note between new and loyal consumers Dimensions of loyalty Insights Differentiation between new for Kayak ND loyal customers METHODOLOGY OF shoot The objective of the study was to compare the value perception of first-time customers and loyal customers of beauty parlors in order to obtain category insights that Kayak could use.We were interested in finding out how an emerging category (technology-based beauty care in the consumer market and not in the conventional medical market) in an emerg ing market without direct competition can obtain insights from a related category (beauty parlors) that offers the same core benefit of beauty care. This context (emerging category, related category with the same core infinite as the emerging category and the emerging market in the Indian context) was a unique one and the case focused on a learning that would be useful to Kayak in terms of understanding the expression of first-time consumers and loyal consumers.The value perception needs to be built around the customers experiences of the service at the service providers premises. The questionnaire had a crustal plate related to several components of the service experience as shown in the three sections of Exhibit 2. Responses were collected from the residents of three Indian cities, namely, Bangor, Hydrated, and Delhi. The data collection was done in June and July 2011. entropy from 50 first-time customers and 50 loyal customers of beauty services were collected.