Team Name- ADVENTS Team Code:- 6745

Institute:-IIM KOZHIKODE

Background: What do you think is the issue or the opportunity here?

Consumer/Customer Insight: What behaviours do consumers demonstrate which might help in explaining the issue/opportunity identified above

Consumers do not want to take risk with their own money especially when it comes to online transactions. This can be seen from the huge success of Cash on delivery option and the boost it provided for the e-commerce market in India.

Also making the first online purchase is the biggest barrier for the consumer. Once he/she has used a platform and found it to be convenient and secure, we can ensure repeat purchases.

The Big Idea: How do you plan to approach the problem?

1. The inherent perceived risk with online transactions has to be reduced2. We need to ensure that the customers try the Mobikwik platform atleast once – Once they realise the convenience,

they are expected to stick to the platform for long term use3. Awareness needs to be created regarding the platforms on which Mobikwik can be used4. Campaigns to highlight the availability of Cash Top Up5. Marketing campaigns focussing on how Mobikwik is safer than conventional wallets and also how the chances of

account details getting hacked is low when card details are only stored on one website (Mobikwik, whose core competency is e-wallets )

How will you land it in market : What are the execution details of your plan1. MARKETING STRATEGY:

ONE TIME OFFER: Provide the registered users with a minimum wallet amount of (say ₹30) so that they might recharge their cell phone thereby experiencing a safe and improved transaction procedure provided by MobiKwik.“SAFER AND SECURE WALLET”: Instead of saving your card details on various e-commerce sites save it on MobiKwik and reduce your probability of getting hacked. EXTEND CASH WALLET TOP UP: Partner with retailers to allow customers to Top Up Mobikwik wallets in the stores

2. ADVERTISEMENTS: Newspaper & Magazine ads describing the safety features of having a MobiKwik account (Plastic Money): Protection from stealing & theft of cash (given how crowded the public transportation is)

3. AWARENESS : Partner with cyber security campaigns and showcase the security and safety features.

OPPORTUNITY

Out of the 95% cash payer population in India, even if MobiKwik is able to attract a small portion say 5%, with the given technology it would increase the traction to the website.

It would increase the consumer confidence to shop online.

ISSUES

LACK OF TRUST: Almost one in three consumers do not shop online, lack trust and are worried about keeping their data safe.

POPULATING THE WALLET: The Mobikwik wallet can be populated only using Debit/credit/cash cards or through Net Banking. However, only about half the Indian households have access to banking services and the usage rate for debit/credit cards or Net Banking is also low

AWARENESS: It plays a crucial role in expanding the usage of MobiKwik wallet. Positive word of mouth would have a high impact on the non-users of internet.

Team Name- ADVENTS Team Code:- 6745

Institute:-IIM KOZHIKODE

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