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Done by Anastassiya Yershova IB Assignment 1 Quintessentially - Luxury Service Concierge

Is a world know company, that provides Luxury Concierge Service. Leading in this segment. It was founded in London in 2000, but soon spreads all over the world, and now there are 32 sister companies and 60 ofces worldwide. It covers 35 languages within global network of ofces. Company has one global centralized CRM system across across all ofces and one global marketing solution. Quintessentially group has ve departments, they are Member Assistance, Events & Entertainment, Travel Concierge, Members' Area, Quintessentially Magazine. All available 24 hours a day, 7 days a week, 365 days a year to meet their consumers needs. Quintessentially Membership provides customers with unlimited access to the big package of privileges, starting from organization privet dinner in the Michelins restaurant to the unplanned yacht rental on the Cote DAzure. The group of Quintessentially partners are connected with thousandths of best hotels, restaurants, clubs, spas, luxury brands shops, entertainment institutes and other famous places both across the globe and in the locals territories, to empower as much as possible. The company was founded in London, in my opinion it was not by chance only. As everybody know, London all the time was the place where a lot of famous oligarchs and their families used to live. And a lot of rich people who have already earned billions, but still do not have access to the high level of society, was great target market for the luxury concierge service. Now the Members of Quintessentially are individuals who has, for example, political inuence, celebrity status, personal wealth, and have a strong and stable spending power. Bigger part of the customers are male in the age 30-40 years old. Mostly Entrepreneurs or holders of C-Level corporate positions, who travel for both business and leisure, short on time, Inuencers and early adopters of new products and services. By the denition of the Quintessentially, their typical member nowadays is a person, who stay at 5-star properties for 45 days each year, own multiple cars and have classic car collections, y primarily in First and Business class and has 55% own properties in two or more countries The company has three levels of membership. Dedicated membership is a one-to-one service, that provide 24 support of the AskQ team globally and a service of personal manager from 9 am to 6 pm in the one of companies branches (generally in the home country of member). Dual Dedicate membership is created for those who lives between two cities, and allowed to use two personal managers in both. Elite membership is top rated, most luxury membership, that would satisfy any consumers ask and desire, wherever and whenever he/she wants it. After an overview of the company, service and members, I want to move on the competitiveness of the company regarding long term perspective. As I said before, one of the major principles and benets of the company is whatever you want wherever you are, any time. But for those level of customers another important thing that company provide is a condentiality. All the structure of business assume the absolutely privet approach. And keep the condentiality on the high level would bring company to the long - term competitive power. Second advantage of the company is prevalence of the brunches globally, with local knowledge and networks, experience in speaking the languages, all that helps to adjust to the mentality and culture of customers and nd out individual strategy for every member.

Done by Anastassiya Yershova IB Assignment 1 Quintessentially - Luxury Service Concierge

Another advantages that differentiate company from other concierge services is that among all branches and ofces there is one centralized system, that connect all in one. One global centralized CRM system across 60 ofces and one stop global marketing solution, not to loose anything. Data Capture and Research on VIP Clients, developing of programs, nding new ways of customer satisfaction, all these are generated in one base in order to easier monitoring and make the business efcient. Quintessentially has more other advantages, but to sum up the idea, I can say that their main key to consumer satisfaction is convenience, nancial savings, access and exclusivity. Now lets move to the recommendation to the company, how to add value and build a strong brand. After all said above, it is obvious that company already has a strong brand name and popularity in the segment of luxury industry, but nevertheless every company need a plan for the future competitiveness. The main tool of prot maximization for the service company is customers. There are two ways how to add value in this way. One way is to keep the old customers by loyalty program and second is to attract new customers as much as possible. The idea is to merge with other companies who also provide a kind of luxury service but it is not its general challenge. For example, to cooperate with rst class of big airline company, and present to the holder of the golden card of Airline X the opportunity to try the service of Quintessentially for two or three month, or to give the card an addition to the the very expensive car or helicopter. It would increase the amount of potential members of Quintessentially and increase buyer trafc and drive sales of partner company. Another example is to cooperate with a world known bank and award their loyal customers with the membership of Quintessentially for several month. it would help to show the potencial customers advantages of being member of the concierge service in the real situation. For the several month they would use it for free, trying, thinking, enjoying, and more than 50% of them would come back to the service again, for sure. There is one more idea behind cooperation with other luxury service providing companies. It could be crucial tool in data collection. It would allow to collect the feedback on the VIP clients lifestyle proles, habits and behaviors. This information is powerful in proactively rewarding and retaining clients. As cooperation could play a role in attracting new customers, then vise versa, Quintessentially can award their loyal customers with the help of their partners. For example to present a full paid trip to concert of Rihanna in New York for their second year Dedicate member, by the ight of company partner. Or cooperate with the bank partner in order to make the deposit percent higher for the very special client of Quintessentially. It will be good for both, the bank will get the higher deposit, and the Quintessentially will show how much they care about their loyal customer. This two way communication between Quintessentially and other world known brands will add value for both cooperating companies, enlarge the customers base, positively affect marketing of the company and as a result maximize a prot.