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PRESENTS STRATEGIC DUEL Case Problem Driving Growth and Retention in Emerging Markets The Journey of NeoFin Tech Solutions 1. Company Background Company Overview: NeoFin Tech Solutions, founded in 2016, is a fast-growing fintech startup specializing in digital financial services for small and medium enterprises (SMEs). NeoFin’s offerings include digital payment solutions, automated invoicing, and business analytics, aimed primarily at SMEs in Southeast Asia. Known for its user-friendly platform and responsive customer support, NeoFin has built a strong reputation among urban SMEs. After securing $15 million in Series A funding in 2021, NeoFin expanded its operations across major urban centers. The company’s current goal is to penetrate rural areas where digital adoption is on the rise, albeit at a slower pace than in urban regions. NeoFin aims to increase its customer base in these underserved markets, driving both revenue and positive social impact. Current Focus and Strategy: NeoFin is focused on three key services: ● Digital Payments: Providing SMEs with secure and efficient payment solutions. ● Automated Invoicing: Streamlining invoicing and accounting processes to enhance business productivity. ● Business Analytics: Offering SMEs insights into customer behavior, spending patterns, and growth trends. Despite its achievements, NeoFin faces several obstacles in scaling and sustaining its operations in rural areas..
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2. Current Scenario and Challenges Operational Challenges: As NeoFin expands into rural regions, the platform’s scalability issues are becoming evident. The increased demand from new rural users has led to occasional server downtimes, impacting service reliability. NeoFin’s technical team is stretched thin and faces challenges in optimizing the platform to perform efficiently in regions with inconsistent internet speeds. Market Competition: In rural areas, NeoFin encounters competition from local fintech providers offering simpler, low-cost solutions tailored to the needs of rural SMEs. NeoFin’s premium offerings face resistance from price-sensitive customers and require significant digital literacy, which can be a barrier in these markets. Customer Retention: NeoFin’s customer acquisition in rural markets is steady, but retention rates remain low due to service interruptions and limited digital support. Maintaining long-term relationships with rural customers is a growing challenge as they seek more reliable, locally-supported solutions. 3. Problem Statement As NeoFin plans its next growth phase, it must address operational, market, and customer retention challenges. The leadership team seeks innovative solutions from participants to address the following areas: ● Scalability and Platform Optimization: How can NeoFin enhance its tech infrastructure to support increased demand, particularly in regions with inconsistent internet speeds? What strategies can minimize service disruptions? ● Rural Market Expansion: What approach should NeoFin take to attract rural SMEs and stand out against local, low-cost competitors? How can NeoFin make its premium services more appealing to price-sensitive clients in rural areas? ● Customer Retention: What initiatives can NeoFin implement to improve retention rates among rural clients, especially in terms of digital support and long-term relationship-building?.
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General Instructions: ● For this round, participants are required to create a 8-slide presentation (including cover and thank you slide) covering all the key elements outlined in the problem statement, ensuring a comprehensive solution to the case problem. ● Teams must submit their presentations via the Google Form link provided below by 11:59 PM on 11/11/2024. No deadline extensions will be granted. Submission Link: https://forms.gle/ULJbaKBmgCyHqfXD6 ● Please adhere to the 8-slide limit, as exceeding this will result in negative marking. Submissions must be in PDF format, named as: " Strategic Duel_Team Name_Prelims ." ● The problem presented should be treated as hypothetical , and creativity along with a wide range of solutions is encouraged. ● All work must be original; plagiarism will result in disqualification. The decision of the organizers and judges is final and binding..