Group Name : E-tailerzMeeting
Open Time : 2:30 pm
Date : 25th march2008
Place: university premises (student resource centre)
Present : All
Absent : none
Minutes of Previous Meeting
Corrections : none
AGENDA ITEM HEADING : competitive analysis and the opportunities present in the market
In this week’s meeting we have discussed the opportunities that we have in the market, who are our competitors and what services they are providing.
Banks are the first place where people, starting new business, go to for financial help. Most of the banks finance businesses that are already established or those where they see enough potential for growth. The banks operating in Pakistan are one of our major competitors such as Dubai Islamic Bank and UBL. At Dubai Islamic Bank customers of every nature are provided with comprehensive solutions to all their financial needs. At FMPC we basically provide financial consultancy to small businesses, this is our target market and since it is a niche there is a lot of opportunity present.
The Government also has different schemes to finance small businesses such as the rozgar scheme and there are different micro financing institutions providing services. We would be providing financial services and at the same time we would also arrange for the loan if needed by our customer at a lower interest rate through the National Bank of Pakistan.
Technology-led innovation and changing customer needs will lead financial institutions to rethink the way they do business, where as we have a competitive edge here that we are operating online, we will also be providing a software that prepares financial statements, the financial statement will automatically be prepared when the figures are keyed in, thus enabling our customers to have ease, comfort, accuracy, time and cost saving. Hence this way we would have a competitive edge.
In the next meeting we will be posting the competitive analysis chart, since we need to workout more over it.
Meeting Close Time: 4:30pm