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Marketing Strategy for penetrating a new market

A case study on marketing management with a solution. A submission by Aakash Kumawat, IIM Kashipur.

Marketing strategy for a competition

The strategies to increase the reach in terms of both registered teams and voters in an event or competition are as follows: 1) The major problem in this situation is reaching out to the different colleges and universities for their students to participate in such competitions which in turn helps them in showcasing their talents and improve the brand value of the institution as well. There could be many solutions to this problem:  (a) Appointing Campus Ambassadors of the respective colleges and providing them the certificate for their good work. They will be provided a layout of the whole process. The top performing CAs can also be awarded some prize money according to the number of participants from their respective colleges. This will help us in having a structured approach towards connecting with the participants. This will help us in trending among the colleges with the help of the network of their students. (b) Appointing marketing teams according to zones and cities who will contact the different college administrations or the student bodies. This is a more direct approach to the problem as we are directly contacting the participants. This will help us in increasing the efficiency of the process but the cost may vary on the basis of transportation and contacting the different bodies of the institution.  (c) Creating awareness through social media platforms like Facebook, Twitter, Instagram, LinkedIn etc., YouTube and Google AdWords. This will help us in connecting to a wide network of people all around the country. This will also help in increasing the number of voters for the competitions. We can use web analytics tools like Google Analytics to easily identify what location our website traffic is coming from. On the basis of this analysis, we can target some specific regions of the country. 2) Now, we have to provide the participants with the basic information regarding the competition. We will have to inform them about the whole process of participation, results, prizes etc. There can be two approaches to this step: (a) Emailing the participants directly and sending the attachments about the whole process with it. This will ensure that everyone gets all the information about the competition. We can also conduct interactive webinars to ensure that participants have no doubts regarding the process. (b) Sending the pamphlets and posters to be displayed on the notice boards of the respective colleges or informing about the process through the college administration. This is a traditional but effective method to increase the number of participants. 3) We can create hashtags to be attached with the advertisement created by the students. This will help us in trending on social media and we can also track the trending situation about the submissions. We can also create and share some video content to be displayed on the official handles of the competition on various social networking websites. This will also help in increasing the number of voters for the competitions. 4) We can create social media campaigns comprising of challenges by YouTubers, celebrities etc. e.g. Skybags #Bagtheball Challenge, ALS Ice Bucket Challenge etc. This plays a major role in trending on the social media platforms nowadays. We can also use some paid marketing like mentions on twitter by famous pages etc.

Consumer Behaviour

The presentation attached is the solution of the consumer behaviour exercise from the Marketing Management 1 course.

IKEA India - Marketing done right

IKEA opened its first store in India with a bang. Over 40000 people visited the Hyderabad store on Day-1 resulting in a traffic block of over 3 km. The store refused to disclose its sales number but it is estimated to be over ₹ 1 crore on Day-1. IKEA planned meticulously for years to enter into the Indian market. The brand can now safely say it has left a long-lasting impression on the Indian consumers Time and again IKEA has proved companies don’t have to spend millions on advertising and won people’s hearts with their extremely cost effective and creative advertisements. Some of the cost-effective strategies used are as follows:

INDEPENDENT AND DEPENDENT VARIABLES

Independent variable: Organizational structure and design Dependent variable: Organizational citizenship behavior In an organization where the organizational structure is such that the employees of different ranks treat each other equally, giving respect to each other and every other employee can be reached out easily for help and feedback, encourages the employees to work to their full potential without hesitation in asking questions on doubts or performance.  This kind of organization structure provides a sense of belonging to the employees. For ex- Paytm, the CEO of the organization does not have a dedicated cabin for him and he sits with the other employees in one of the cubicles, hence promoting communication and equal respect for every employee in the organization. Independent variable: motivation –dependent variable : productivity In a stock brokerage firm, broker interact with customers regarding investment but few customers are always skeptical to take risk. So broker tries to motivate them to take more risks by giving real life examples in order to get more profit. As a result it improves the productivity of brokerage firm. Independent variable: values and attitudes –dependent variable : Deviant workplace behavior In most of the organization, we see many employees increase their work productivity when financial closing is near to get a better rating and band in the organization. This shows they bring change in their values and attitudes towards the organization. But when they don’t receive the good bands as per their expectation, they start behaving very casual and don’t put much effort in their work. This shows deviant workplace behavior. Independent variable: communication –dependent variable: productivity In most of the group tasks if there is not proper and consistent communication among the members regarding the tasks, the productivity of the group goes down. It is important to keep everyone in the loop regarding the activity. Not only it is found that  there should be consistent communication in the hierarchy to improve the productivity of the organization.   DEPENDENT VARIABLE: PRODUCTIVITY, JOB SATISFACTION Perception is the approach or stimuli of a person towards a situation depending upon his/her ability, attitude, expectations and past experiences which will affect the way the individual performs a task. In an organization, an employee’s perception about the work, the company and the culture will affect his/her morale and performance. A person with positive perception will enjoy the job and hence will work to the highest potential which again improves the productivity, incentives or wage hike and increases job satisfaction.

INDEPENDENT AND DEPENDENT VARIABLES

Independent variable: Organizational structure and design Dependent variable: Organizational citizenship behavior In an organization where the organizational structure is such that the employees of different ranks treat each other equally, giving respect to each other and every other employee can be reached out easily for help and feedback, encourages the employees to work to their full potential without hesitation in asking questions on doubts or performance.  This kind of organization structure provides a sense of belonging to the employees. For ex- Paytm, the CEO of the organization does not have a dedicated cabin for him and he sits with the other employees in one of the cubicles, hence promoting communication and equal respect for every employee in the organization. Independent variable: motivation –dependent variable : productivity In a stock brokerage firm, broker interact with customers regarding investment but few customers are always skeptical to take risk. So broker tries to motivate them to take more risks by giving real life examples in order to get more profit. As a result it improves the productivity of brokerage firm. Independent variable: values and attitudes –dependent variable : Deviant workplace behavior In most of the organization, we see many employees increase their work productivity when financial closing is near to get a better rating and band in the organization. This shows they bring change in their values and attitudes towards the organization. But when they don’t receive the good bands as per their expectation, they start behaving very casual and don’t put much effort in their work. This shows deviant workplace behavior. Independent variable: communication –dependent variable: productivity In most of the group tasks if there is not proper and consistent communication among the members regarding the tasks, the productivity of the group goes down. It is important to keep everyone in the loop regarding the activity. Not only it is found that  there should be consistent communication in the hierarchy to improve the productivity of the organization.   DEPENDENT VARIABLE: PRODUCTIVITY, JOB SATISFACTION Perception is the approach or stimuli of a person towards a situation depending upon his/her ability, attitude, expectations and past experiences which will affect the way the individual performs a task. In an organization, an employee’s perception about the work, the company and the culture will affect his/her morale and performance. A person with positive perception will enjoy the job and hence will work to the highest potential which again improves the productivity, incentives or wage hike and increases job satisfaction.

NETFLIX AND INDIA

NETFLIX AND INDIA The US streaming giant Netflix, a ubiquitous in US, a household entity made entry into Indian market in 2016 seeking to expand its user base into developing markets. The company claimed to acquire 100M subscribers from India. This was the time when smartphone market was booming in India and predatory pricing strategy of Jio had brought down internet data cost to abjectly low level. In 2016, 35 million Indians had smartphones, a gigantic number by any estimation and it seemed as if a giant door was opening itself for Netflix. This was the time when urbanization was rampant and more and more Indians were asking for break from lifeless, trite TV soap contents. Streaming services like Hotstar had already made its mark by providing a cocktail of contents which included movies, cricket. TV shows and other regional content. Although Hotstar had acquired a good market share, it provided content which were highly localized and also lacked essence of a true streaming service. India was waiting for something like Netflix- a service meant for streaming, only streaming. But alas! India proved to be a tough market for Netflix. Why Netflix didn’t fly as it had hoped when launched in 2016? SWOT analysis of Netflix in India Strength -          Strong brand equity -          High quality streaming content -          Big pockets -          Recent focus on creating original Indian contents Weakness -          High subscription price -          Small segmentation and targeting -          Predominantly English content -          Lack of original Indian content Opportunity -          Huge smartphone user base -          Cheap data price -          Rapid urbanization and change in life style -          Decline in the quality of Indian TV content Threats -          Competition from Hotstar, Amazon and other streaming services -          No entry barrier in the market, advent of new and cheap streaming services Netflix managed to bring in only 1% of the 23.78 million members it added worldwide in 2017. SWOT analysis provides us an insight which can be analysed to explain why Netflix is struggling in India. One of the glaring reasons is extremely premium pricing of Netflix in a country whose per capita income is 1/9 of the USA. On an average, Netflix charges 300% more from its consumers compared to industry average. That’s a lot of money Netflix is asking for half of the content it offers in US. This pricing strategy obviously excludes a large chunk of population who could have been its potential customers. Other than that Netflix doesn’t yet offer specialized content for Indian population like it does in other countries. India still is a majorly Hindi speaking nation and it’d be tough for Netflix to catapult its market share unless it pulls in these segments of society. Competition for services like Hotstar is also a big challenge which is winning over the market by providing news, sports and other contents. Netflix needs to up its game to thrive in India.

Kimura case study

Solution for kimura case

OYO - An Ace in Hospitality Industry

OYO started its journey in January 2013 under the vision of Ritesh Agarwal to improve the hospitality and hotel business. In 2016, OYO brought the concept of early check-in called sunrise check-in at 6 am, and also recently rolled out OYO Captain, a personalised concierge service in the budget hotel category. It expanded its presence to more than 22 cities in India so that customer can set OYO as their preference, no matter which city they travel to. OYO introduced the new concept of short-term homestays, a model similar to Airbnb and has its presence in more than 10 cities under this segment like Udaipur, Goa and Shimla that attract innumerable tourists. OYO has been constantly keeping a check on customer needs and preferences by gathering insights and feedback from the customers. Customers feel their opinion heard when they see OYO making changes accordingly. Customers have the privilege of getting easy hotel bookings on arrival as well and do not have to preplan. Most of the customers have been recorded to book hotels either just before arrival or on arrival by the Data Science Team of OYO. Data Science team has been working mainly on segmenting its customers, identifying their needs, How OYO can cater their needs and finally why customers will prefer OYO over its competitors. This has helped OYO create a customer-centric image amongst its customers and has also succeeded in gaining their trust. OYO has been working hard on gaining customer attention through various strategies like it has not only expanded to every corner of the nation but it's marketed itself well by big hoardings with OYO trademark placed almost on every partner hotel, making its presence and market share felt very well. Providing services like complimentary breakfasts, early check-ins, free quality toiletry kits and discount coupons to new customers have not only maintained its existing customer base but gathered new customers as well. Easy cancellation and on arrival bookings on mobile app access is also contributing to winning customers for OYO.

Drinkable Advertising

Drinkable Advertising History has been a great example of how technological revolutions have always surpassed the expectations of mankind. Be it the invention of cellphones or the advent of laptops, there were many miracles that took place in the course of civilization. However, back in 2015, Coca-Cola reached the ceiling of technological miracles when it came up with the unique way of having a drinkable advertisement. People are able to connect with a brand in a better manner when it has something to offer which others cannot. Advertising by giving the customers a taste of its product 'Coke Zero', Coca-Cola went a step ahead in connecting with its customers. Drinkable billboards, posters, tweets, scans - they left no stone unturned to connect with the people in a totally interesting and novel way! They partnered with Oglivy& Mather to come up with this creativity. Also, Shazam - a widely used application was used to match the water gulp sound frequency and "earn" a free coke! It is indeed commendable how a company can come up with various ways of advertising and branding which not only markets the product but makes one feel special to consume the good. Using technology in advertising is what everyone might do. But to do it differently is what only a few do. Back in 2015, this was definitely a major feat. However, with the upcoming days and improving technological inventions, we never know how competitive the advertising might get! Till then, as Coca-Cola says, “Next time you’re thirsty, drink an ad!” References: http://www.creativeguerrillamarketing.com/guerrilla-marketing/coca-cola-creates-first-ever-drinkable-advertising-campaign/

Marketing Strategy for new restaurant

Case Study – Uncle’s Kitchen is a famous multi-cuisine restaurant in the main market of Kashipur. The restaurant earlier used to sell traditional Indian Food and had a pretty conventional dining arrangement. On a suggestion from Marketing Club, it diversified to include more food options and changed the design of its outlet to be more neat and trendy. The changes seemed to work well for Uncle’s Kitchen as they saw a sharp rise in their sales – primarily from families and youngsters. Having seen sustained success and profits for 3 consecutive years, Uncle’s Kitchen is now interested in opening their second branch in a new city altogether. They have already hired a manager who would be relocating to this new location to handle the day-to-day business. They have approached you to help them with this decision. TASK The task includes the following things:- 1. Suggest a New City which would be appropriate for the restaurant to diversify into 2. Give reasons why this city would be an ideal choice to expand their business further 3. Create a Marketing Strategy to successfully penetrate the market