finikart 2 eshta
TRANSCRIPT
Finistrat15
Team Name: 2EshtaTeam Members: Mohit Jain| Monish Kumar ACollege: Institute of Management Technology, GhaziabadE-mail: [email protected]| [email protected]
Core Values of Finikart
Customer Centric
Low Cost
Better Service
Marketing Objective• To create awareness among
businessmen about the benefits of going online; thereby taping latent demand
Marketing Goal• Convert 2-3% Small & Medium sized
Enterprises(SME’s) as Finikart customers• To gain 10% market share in the Gujarat
region
Target Customers
• Businessmen across various sectors• Entrepreneurs – both, those who are planning to
start an e-commerce and those who are planning to start a business which would require a website
• Gujarat is the hub for diamond and textile industries and also has a lot of export activities going on. Hence, we can focus mainly on businesses in Gujarat using direct marketing techniques to achieve a certain customer base before expanding– However, all online marketing strategies will be
applicable to customers all over
Estimation of Target Customer• Small Scale businesses
– Assumption to get rough idea– We did secondary research on small figures– Used those figures and generalized for whole market
• Data of Entrepreneur who want to start up their business– In Gujarat good venture capitalist companies are there Like CIIE– Business colleges who have entrepreneurship as a subject– Business Plan competition organizer
Small Scale Business in one Area 200 (Pokara Cloth Sector, Ahmedabad
Potential Customer 80% Business don't have their websites
160
Approx 10 area of same size 1600
Intially taking 5 major cities of Gujarat 8000 ( Only Cloth Sector)
Taking 5 Major Sector 40000
First Year Target Market 800
( We can 2% convert as customer)
Pricing
Pricing objective:• Penetration and survival in the
market• To gradually gain maximum market
share
Competitive PricingValue based pricing(for the value added services that we provide)
Market Research
• We have collected primary data from persons in textile industry through semi-structured interviews and collected information on the requirements• Secondary – Reviews of other webhosting services
on mouthshut.com
Further Research• Data collection from different sectors• Appoint sales person to target potential customers
and promote the product (Direct marketing)• Collect data about venture capitalists (LinkedIn) in
and around Gujarat
Send regular updates even if the company is not willing to make a website currently
In the updates, tell them about what the competitors are doing(in the respective sector); this would induce anxiety in themMake a website for each sector and post updates on it and Coordinate major events happening across different sectors
Sponsorship in exhibitions, business events• Stalls in such trade fairs
Promotion
A self explanatory video on the
website explaining
the product – Finikart
Creation of ads based on• Emotional
appeal(entrepreneurs wanting self actualisation)
• Fear appeal(targeted at businessmen who are not aware of the potential in online marketing)
• Post them on Finilite YouTube channel
Catalogue marketing –
through emails as well
as in paper form
Promotion
Value Added Services
• Update the clients’ details on sites like Just dial
• Tie ups with advertisement agencies and recommend them to the clients providing them with additional discounts
• As part of viral marketing, when a customer refers finikart.com to another one, then the former gets value added services
• Highlight customers’ contribution in CSR(make websites for orphanages in and around Gujarat) activity of Finilite
Customer Relationship Management• Finikart family – a blog wherein which the
businessmen can share their thoughts and ideas and thereby find solutions to the problems that they are facing• Expert reviews for enhancing their website –
from color palette selection to content• After the website is ready, finikart will do a
pilot survey involving select customers(of the clients) and try to get the customer feedback about the website• Strong customer support system in place
addressing concerns of customers in the least time possible
Distribution Channel
Finikart/Finilite(in case they require
Web designing also) Sales Representative
Small Business Men who don’t have
website and are not aware about it
They will tell them importance of
having website, try to explain our
services
Finikart(Web Hosting+ Web building)
Entrepreneurs want to start their business online/
Ecommerce
Finikart
Hybrid Distribution channel will be implemented as depicted below
Particulars Per Unit Cost Monthly Cost Total Annual Cost Notes
(in Rs.) (in Rs.) (in Rs.)
Direct Selling
Salesmen salary (2 salesmen) 15000 40000 480000
Fuel Expenses 8000 96000
Data collection by 1 person 10000 10000 10000
Stall in Exhibitions 15000 150000 Stalls in 10 events
Online Catalogs - - - Design- Own Technician
send through Email
Pamphlets 0.5 500 6000
Cost of making videos 5000 5000 5000Fresher will make (College Student)
Animated videos - - - Own Technician
cost of making websites/ Blogs - - - Own website space
Newspaper advertisements 2000 per time 40000 20 Times in a year
Putting Banners at Exhibitions 2500 per banner 25000
Cost Analysis
Points of Differentiation
• Mobile friendly website• Design of sample websites on the
basis of sectors• Customer oriented• Value added services for the same
price as competitors
