Satel's Business Model (Essay Sample)

Satel’s Business models
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Satel Business Models
Setel’s successful market penetration since its entry into the Malaysian fuel market industry can be attributed to its sound business model. The following section will help you better understand Setel's business model.
Setel’s customer value proposition
The Setel app is designed to be more user-friendly. The application has an easy-to-use user interface that guides customers through the three simple steps of the refueling process. The application also includes several features that allow users to refuel their vehicles more quickly and comfortably. (Kugan, 2019)
Setel’s revenue model
Setel application has implemented security measures to safeguard its customers' funds and personal information. The business also has a points system that rewards loyal customers with Mesra points, redeeming and using to purchase fuel. Furthermore, it provides promotions to its customers when they refer a friend. The application ensures the safety of its users during the fueling process by allowing payment to be made while the customers are inside their vehicles. These features assist the company in both retaining and attracting new customers. (Kugan, 2019)
Satel’s Market Opportunity
The unique features and promotions drive the Setel e-wallet business's success it offers its customers. However, its operations are limited to Khlong Valley; however, the company can reach a larger market, even beyond Southeast Asia, with advertising and awareness campaigns. Furthermore, the Setel e-wallet business can benefit from the popularity of its parent company, PETRONAS oil company, which has several connections that can provide a significant market opportunity for the business's growth and success. (Kugan, 2019)
Satel’s Competitive environment
Setel, as a young startup, faces stiff competition from other oil companies that also provide e-wallet payment services. For security reasons, e-payment has become the most preferred payment method for customers who do not walk around with cash. Setel faces stiff competition from Boost & Touch'nGo, Wallet Factory, Total, and Caltex. (Kugan, 2019)
Setel’s Competitive advantage
Although some oil companies offer e-payment options to their customers, Satel provides unique features that give it a competitive advantage over its competitors. For example, as a reward for their loyalty, it provides customers with a points system. These points can be redeemed and used to purchase fuel. Satel also has a competitive advantage over its competitors because it was introduced by PETRONAS, a well-known company with a strong brand image in Malaysia and throughout Southeast Asia. PETRONAS gives Satel an opportunity of a vast market opportunity due to their customer loyalty. (Kugan, 2019)
Another competitive advantage that Satel has over its competitors is that, unlike other fuel e-wallets that require customers to have at least RM200 on hold when paying for fuel, there is no such requirement when using Satel. Customers can top up their e-wallet account with the amounts of their choice and pay for their fuel.
Unlike most e-wallets, Satel has also incorporated security measures for their customers to safeguard their funds and personal information. (Kugan, 2019)
Satel’s market strategy
Satel has had a well-organized marketing strategy since its launch into the fuel market, which has hastened its success. For instance, its unique features offer its customers like giving promotions to its loyal customers whenever they refer their friends. The business has been able to attract many potential customers. It rewards its customers with Mesra points every time they top up their e-wallet account. The points are redeemable and can be used to purchase fuel. This enables the business to attract large customers compared to its rival e-wallets. (Kugan, 2019)
Satel’s Organizational development
Satel has a well-developed organ