Adv Marketing Management Assignment Work 1 One
Adv Marketing Management Assignment Work 1 One
Adv Marketing Management Assignment Work 1 One
ADVANCED MARKETING
MANAGEMENT ASSIGNMENT WORK-1
SUBMITTED TO:
Dr. VIVEK SANE
TOPIC: RESEARCH ON G PAY BRAND
BUILDING STORY
In 2016, Google began a public trial in Silicon Valley of a related mobile app called Hands Free.
In this system, the customer does not need to present a phone or card. Instead, a customer
announces they wish to "pay with Google" and give their initials to the cashier, who verifies
their identity with a photo previously uploaded to the system. The customer's phone will only
authorize payment if its geographic location system indicates it is near a participating store. On
September 18, 2017, Google launched a payments app in India known as Tez, utilizing
the Unified Payments Interface (UPI). On August 28, 2018, Google rebranded Tez to Google Pay.
On January 8, 2018, Google announced that Google Wallet would be merged into Android Pay,
with the service as a whole rebranded as Google Pay. This merger extends the platform into
web-based payments integrated into other Google and third-party services. The rebranding
began to roll out as an update to the Android Pay app on February 20, 2018; the app was given
an updated design, and now displays a personalized list of nearby stores which support Google
Pay.
On December 21, 2018, Google Payment obtained an e-money license in Lithuania - the license
will enable Google to process payments, issue e-money, and handle electronic money wallets in
the EU.
On November 18, 2020, Google Pay was redesigned for the United States' version of the app,
based upon the previous Indian/Singaporean versions of the app, which now contains
messaging capabilities, an "Explore" tab for viewing and redeeming personalized offers
(including discounts and cashback rewards) and searching Google Shopping by barcode, "Get
gas" and "Order food" buttons that can integrate with participating filling stations and
restaurants, the ability to integrate with banks to track financial status from the new "Insights"
tab. Users can search their transaction history, and can scan receipts with OCR using their
device's camera, or through Gmail messages and Google Photos, to add them to their records.
Google is also introducing a platform known as "Plex", which will allow online banks to offer
checking and savings accounts directly through the app. The new Google Pay uses phone
numbers for authentication rather than Google accounts, and contacts cannot be imported
from the previous app. Debit card transfers within the app are now subject to fees "of 1.5% or
$0.31 (whichever is higher)", rather than having no cost.
Technology
Google Pay uses the EMV Payment Tokenisation Specification. The service keeps customer
payment information private from the retailer by replacing the customer's credit or debit
card Funding Primary Account Number (FPAN) with a tokenized Device Primary Account
Number (DPAN), and creates a "dynamic security code generated for each transaction". The
'dynamic security code' is the cryptogram in an EMV-mode transaction, and the Dynamic Card
Verification Value (DCVV) in a magnetic stripe data emulation-mode transaction. Users can also
remotely halt the service on a lost phone via Google's Find My Device service.
In EMV-mode transactions, Google Pay supports the use of the Consumer Device Cardholder
Verification Method (CDCVM) using biometrics, pattern, or the phone's or watch's passcode.
The use of CDCVM allows for the device itself to provide verification for the transaction and
may not require the cardholder to sign a receipt or enter their PIN.
In 2017 it had 67 million monthly active users. And it's 2020 now, so it's imaginable that the
rate has increased. More you move forward more you get upgraded by. The app has enabled
more than 2.5 billion transactions and currently has got a running rate of US $110+ billion in
transaction value. Currently, the users have a privilege of paying in more than 200,000 stores in
more than 3500 cities and towns and more than 2700 online merchants.
Ambarish Kenghe, the Director of Product Management at Google Pay said, "We are aware that
some users faced difficulties with linking their bank accounts on Google Pay today. The issue,
impacting a small number of users, was identified earlier today and our teams have worked to
resolve it and have implemented a fix within the hour. The issue stands resolved and users will
now be able to use the app normally. Users facing any issue should reach out to Google Pay
support through our app. We regret the inconvenience caused and are committed to providing
our users a seamless payments experience."
Amazon Pay is a platform for digital transactions. It is similar to Google Pay in terms of
functionality and features.
Phone Pe is popularly known as India's payments app. It allows people to use BHIM,
UPI, credit card and debit card to recharge phones and make payments.
Paytm is an Indian e-commerce payment system. Paytm offers multiple services
through its ecosystem; some of them are e-wallets, bill payments, phone recharges, and
an online shopping store (in the form of Paytm Mall). It is headquartered in Noida, India.
Stripe simplifies the process of online payments.
Ten things Google Pay did to become the top payment app in India
In order to retain the market share and able to fight with other players google pay did the
followings:
1. Google Pay focused on partnerships, localisation, and ecosystem approach as it forged deep
partnerships with central bank and government to innovate and build collectively, and made
products interoperable and open to work jointly within the ecosystem.
2. Its entity-based UX lets users search who they paid earlier, rather than the transaction date
or time. Under the entity-based model users see individual chat heads of every individual or
merchant they transact with when they have to check a payment record.
3. It introduced the Spot platform: a way for businesses to create experiences and engage their
customers within the Google Pay app. Popular services like UrbanClap, Goibibo, MakeMyTrip,
Red Bus, Eat. Fit and Oven Story were the first to board in its early access programme.
4. It deepened support for small businesses through a new app called Google Pay for Business:
a free and easy way for small merchants and storefronts to enable digital payments without the
hassle of time-consuming verification process.
5. The search giant stepped up its support for job seekers by introducing a Spot on Google Pay
to help people find entry level positions that aren’t always easily discoverable online.
6. It joined hands with the government to roll out ‘Digital Payment Abhiyan’ for increasing
awareness about cashless payment and online financial security in the country.
7. It launched ‘The Vodafone-Idea Phone Line’ to help people in the rural areas, where internet
connection is weak, get information about everything. Vodafone-Idea users can dial toll-free
number, 000 800 9191 000, and seek information, which will be provided to them by Google via
the phone call.
8. The company plans to open a research lab focusing on artificial intelligence applications in
fields like health care and education, and offer public Wi-Fi to villages in three regions.
9. Google has written to the US Federal Reserve Board detailing the successful example of UPI-
based digital payment in India in order to build "Fed Now" -- a new interbank real-time gross
settlement service for faster digital payments in the US.
10. The company launched a new app called GPay for Business -- a free and easy way for small
and medium-sized merchants to enable digital payments without the hassle of time-consuming
onboarding and verification process.
Marketing aspects of Google Pay
Google pay plans different marketing campaigns for brand popularity and benefits are as
follows:
4. Timing matters
Holiday campaigns or the festive campaigns plan should have the magical pixie dust—the timing.
Well, you might think you have got plenty of time ahead to do your Black Friday planning, but
don’t forget that your competitor also has that same head start.
Google Pay launched their Diwali campaign on October 21, a week before Diwali. They planned
to have the campaign till the day of Diwali, which is October 27, but the users interest made
them to extend till November 11. Launching the campaign before a week of Diwali is an easy
decision. But the lesson here is Google did not forget the basics and identified that, a week
ahead of time is where Diwali shopping starts and people will browse around the e-commerce
apps.
5. Execution Methods
A well-planned campaign idea with poor execution methods is equal to a pretty picture hanging
on the wall. Clean execution is the need without additional back-end integration to any of the
funnel pages. (First of all, no funnel pages itself) The whole execution is inside their mobile app
and thanks to the push notifications which saves the re-marketing/re-targeting costs.
Gamification is the opposite of the marketing mantra, “Don’t make your customer to pull the
extra effort”. While incorporating the gamification part, you are making your user or customer
to stretch that extra mile without them realizing. Stamp collection as a treasure hunt game;
chasing down the stamps, especially the Rangoli stamp. The crucial gamification elements —
FOMO, climax and social celebrity status were covered with all corners pointing their marketing
goal. Thus, their campaign went viral, also led to the app installations. The one who collected all
the 5 stamps couldn’t stop bragging, and it created a strong FOMO for the rest of the users. The
5 stamp collectors became social celebrities overnight.
Google Pay is taking giant steps at revolutionising the payments market in India.
Consumers/users will miss a hoard of features and easy money transfer transactions if they
don’t use the app. If someone is skeptical about mobile banking, they should check what makes
it safe.
The company is planning something new and unique for its users. They are planning to merge
up the entire payment's ecosystem into one universal app for receiving and sending payments
with cards saved in each one's respected Google account. The new design is totally different
than Android Pay and plans of renewing Google Pay is also on. The company presently is not
only concerned with receiving and sending but also it's concerned with easy payment of fares.