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Project WeLike Welingkar PGDM-HB-Semester 2

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Project WeLike

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Project WeLike Welingkar PGDM-HB-Semester 2

  1. 1. Sayeeli Rawool HPGD/AP15/2714 Project WeLike
  2. 2. 1. Mr. Govind Shrikhande, MD (Shoppers Stop) 2. Mr. Ramesh Chembath, AVP & Head Strategic Marketing (Godrej Appliances) 3. Mr. Damodar Mall, CEO (Relaince Fresh) WeLounge:
  3. 3. Key Learnings:  Mr. Shrikhande is a graduate in textile from VJIT & has a degree in MBA from Symbiosis, Pune.  Previous to Shoppers Stop, he has worked with renowned names like Mafatlal, Arrow & Bombay Dyeing.  He joined Shoppers Stop as a VP for Buying & Merchandising & is now the MD.  He is of the opinion that there is a tremendous change in retail scenario due to digital technology.  Mr. Shrikhande says that they have adopted the omni-channel route for Shoppers Stop & their future plan is to invest in online assets & infrastructure.  Shoppers Stop is expecting to earn 10% of their revenue from online sales. Mr. Govind Shrikhande, MD (Shoppers Stop)
  4. 4. Continued.. Page 2  He added that globally departmental stores are suffering a setback since most people these day prefer to shop online.  However, he also stated that the department store format provides convenience for the whole family to shop under one roof, and this format is bound to grow in the future.  Mr. Shrikhande also said that Shoppers Stop needs to concentrate on customer experience and product assortment as well.  While speaking about the work culture at Shoppers Stop he says that they are a customer driven organization, where each employee no matter what his role is, is a customer care associate first.
  5. 5. Continued.. Page 3  Mr. Shrikhande also mentions that employee retention is a huge challenge and their company faces an attrition rate of 48% annually.  He further adds that the key driving forces for the company’s growth are online selling, products in the beauty segment, exclusive brands and private labels.  While speaking about the future challenges of Shoppers Stop, he says that tackling mom & pop stores, FDI policy restrictions on multiband retail, infrastructure, taxation policies and disruptions from online sector are some of his main concerns.
  6. 6. Key Learnings:  The most admired grocery retailer, Mr. Mall is an IIM-B alumnus and author of Supermarket Wala, a book which states the secrets to win consumer India.  He has been previously associated with companies like HUL and Future Group, and has learnt the nitty-gritties of business from the likes of Kishore Biyani and R. K. Damani.  Mr. Mall is also the co-founder of D-Mart, which is hypermarket chain in India that operates more than 91 stores across various cities and towns.  He is a firm believer that one should rely only on customer feedback and not precedence to run a successful business. Mr. Damodar Mall, CEO (Reliance Fresh)
  7. 7. Continued.. Page 2  Reliance Retail was started in 2006 and its core growth strategy was backward integration and to develop a strong value chain that starts from farmers.  He says that Reliance Fresh believes in the philosophy of farmer’s welfare, fair practice, and giving a platform to new and small brands.  Mr. Mall adds that in the retail sector one should develop the habit if winning customers, observing them and working with customers as the center of all activities.  He also states that customers now have rising aspirations, higher physical and digital mobility, which has surely empowered them, but has also made companies nimble footed to think ahead of their customers.
  8. 8. Continued.. Page 3  Mr. Mall also adds that today’s customers have become more assertive and want all the things their way.  Last, but not the least, he says that India is the best country to be right now, since it is witnessing consumption growth, economic growth and customer confidence.
  9. 9. Key Learnings:  Mr. Chambath has a rich experience of 20 years in the industry and has been a speaker at various forums related to his field.  He is a graduate in Physics and has completed his masters in Business Administration.  Mr. Chambath began his career with Garware and then moved to other companies like Grasim and Draft-FCB-Ulka before finally settling down with Godrej Appliances.  He says that his love for communication got him interested into marketing and sales.  He promptly adds that every job that is taken teaches us something and it an experience full on learning. Mr. Ramesh Chembath, AVP & Head – Strategic Marketing (Godrej Appliances)
  10. 10. Continued.. Page 2  Mr. Chembath says that he had the opportunity to work with the industry stalwarts, and that gave him an edge in the learning process.  He also adds that his stint at Ulka gave him a great exposure and learning curve.  Mr. Chembath emphasizes that any person who wants to have a flourishing career in marketing should start with grassroot sales and then move up the ladder.  He says that employees don’t quit companies, they quit bosses, thus at any workplace there is a two-way relation between employees and seniors.
  11. 11. Continued.. Page 3  Mr. Chembath says that one should know how to deal with their seniors and learn from them as they tend to have a lot of knowledge and experience in the field.  He also stresses on the importance of maintaining a work-life balance to remain productive and interested in the job.  He opines that the future of business lies in the ecommerce sector, and he also has certain plans envisaged on the same lines for Godrej.
  12. 12. 1. Channel Management 2. Use of Social Media in Marketing 3. Dimensions of Advertising 4. Records Management 5. Issues and challenges of Rural Marketing WeTube:
  13. 13. Q. What is channel management? - Channel management is a process by which a company creates formalized programs for selling and servicing customers within a specific channel. Q. What is channel width & depth? - Channel width refers to selling stocks to more outlets, whereas channel depth means selling more to every out serviced. Q. What is business investment, credit cycle, stocking norms and cost of money? - Business investment refers to the initial amount of capital - Credit cycle is the time taken to sell the products from the time of investment. - Stocking norms and cost of money in the market are crucial while calculating the return on investment. 1. Channel Management
  14. 14. Q. What is forecasting? Sales forecasting is the process of a company predicting what its future sales will be. This forecast is done for a particular period of a time in the near future, usually the next fiscal year. The four most important processes that affect the sales forecast that are typically not taken into account are:  Valuation of POS transactions  Inventory control  Sales channel reporting analytics  Channel-forecast reporting alignment Forecasting
  15. 15.  The strength and performance of a channel partner plays a vital role in the success of any organization.  Channels go through multiple stages of growth, which are listed as follows: 1. Incubation: Needs hand holding, coaching and guidance 2. Performance: Needs constant support to grow beyond the initial stages 3. Sustainability: Once the channel starts performing, sustaining volume of growth apart from value is critical for the business partner to stay motivated. 4. Retention: At this stage, the channel partner feels that there is no more to achieve and the market is saturated. Stages of Channel Growth
  16. 16. Q. What is social media marketing?  Social Media Marketing is the process of gaining website traffic or attention through social media sites.  Social media marketing programs usually centre on efforts to create content that attracts attention and encourages readers to share it across their social networks.  The resulting electronic word of mouth refers to any statement consumers share via the Internet about an event, product, service, brand or company, especially on social media platforms.  When the underlying message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself.  This form of marketing results in earned media rather than paid media. 2. Use of Social Media in Marketing
  17. 17.  Consistent brand image: project a good brand image, unique environment  Use picture, video or text blogs are a tool to market your brand effectively.  Track competitors by providing valuable data for keyword research.  Measure success with analytic softwares like Google Analytics to gauge your performance over a certain period of time.  Optimize visual content with links as it can act as a “gateway” to more valuable content.  Use hashtags strategically to tie all of the pieces of your campaign together. Best SMM tips
  18. 18.  Facebook’s casual, friendly environment requires an active social media marketing strategy that begins with creating a Facebook Business Fan Page.  You will want to pay careful attention to layout, as the visual component is a key aspect of the Facebook experience.  Social media marketing for business pages revolves around furthering your conversation with audiences by posting industry-related articles, images, videos, etc.  Twitter is the social media marketing tool that lets you broadcast your updates across the web. Follow tweeters in your industry or related fields, and you should gain a steady stream of followers in return.  Mix up your official-related tweets about specials, discounts, and news updates with some fun and quirky tweets interspersed.  Be sure to retweet when a customer has something nice to say about you, and don’t forget answer people’s questions when possible. SMM using Facebook & Twitter
  19. 19. Q. What is advertising? - Advertising is how a company encourages people to buy their products, services or ideas. An advertisement is anything that draws good attention towards these things. It is usually designed by an advertising agency for an identified sponsor, and performed through a variety of media.  Common misconception about advertising: - Advertising is a costly affair - Advertising makes a short term impact - Advertising is an additional expense - Company doesn’t need publicity 3. Dimensions of Advertising
  20. 20.  Crucial for a launch or announcement  Source of revenue for publishers  Promotes goods, services, ideas, and events  Helps in increasing the sales  Maximize the profit of an advertiser  Creates consumer awareness  Use persuasion for results  Demands monitoring of demand and supply  Builds brand's image Importance of advertising
  21. 21. Q. What is media planning? - The job of media planning is to determine the best combination of media to achieve the marketing campaign objectives.  The media planning process includes market analysis, establishing the media objective, setting the strategy, implementation, and evaluation and follow-up. Media Planning
  22. 22. Q. What is record management? - Record management refers to a set of activities required for systematically controlling the creation, distribution, use, maintenance, and disposition of recorded information maintained as evidence of business activities and transactions.  Need for an integrated Record Management System: - As businesses grow manual indexing of application forms becomes tedious and time consuming. - Manual intervention has chances of error. - No online summary and exception reports. - No backups on server 4. Record Management
  23. 23.  Teams involved in automating the RMC activities. - Management - IT team - RMC team - Processing in-house vendor  Brainstorming session was held as it was the first system in RMC department.  CRF: Customer Request From was raise with the help of IT team  Database management and data filtering was done.  Design, modules and MIS specification was frozen. Proposed Integrated RMS
  24. 24.  Planning the information needs of an organization  Identifying information requiring capture  Creating, approving, and enforcing policies and practices regarding records, including their organization and disposal  Developing a records storage plan, which includes the short and long-term housing of physical records and digital information  Identifying, classifying, and storing records  Coordinating access to records internally and outside of the organization, balancing the requirements of business confidentiality, data privacy, and public access. Practice of records management involves
  25. 25. Q. What is rural marketing? - Rural marketing is a process of developing, pricing, promoting, and distributing rural specific goods and services leading to desired exchange with rural customers to satisfy their needs and wants, and also to achieve organizational objectives.  Features of Rural Marketing: - Agriculture is the main source of income - Income is seasonal - Though large, rural population is geographically scattered - The standard of living of rural areas is low and rural consumers have diverse socio- economic backwardness. - The market is underdeveloped as the people still lack adequate purchasing power. 5. Issues and challenges of Rural Marketing
  26. 26.  Deprived people and deprived markets  Lack of communication facilities  Many languages and dialects  Dispersed markets  Low per capita Income  Low levels of literacy  Prevalence of spurious brands and seasonal demand  Different way of thinking  Warehousing problem  Problems in sales force management Challenges in rural Marketing
  27. 27.  Availability: To make the product available at the right place and right time.  Affordability: Value for money, economic and stable prices.  Acceptability: Convert potential customer to actual customer  Awareness: Customer-specific campaign, more mediums of communication to connect with the rural audience. Four major hurdles: 4A’s of Rural marketing
  28. 28. 1. Snapdeal to help its 10,000 sellers to do 1 crore business each. 2. Ecommerce players to help India’s 2016 advertisement spend grow 13% 3. Quikr buys online real estate portal commonfloor.com 4. Myntra jumps 20x in revenue during ‘end of reason sale’ 5. Myntra signs deal with Forever21 to sell products on app only platform 6. India is now Alibaba group's second largest market 7. Government plans to take etailers like Flipkart, Snapdeal to rural areas 8. Fashion still holds the top spot in ecommerce horizon 9. Snapdeal launches billion-dollar loan plan for its merchants 10. Myntra to roll out offline experience zones in the next 12-18 months Newswire
  29. 29.  Snapdeal, a leading ecommerce website in India has more than 2 lac seller base, who use their online platform to do business.  In this ingenious move by Snapdeal, it ensures 10,000 of its active sellers of generating business worth 1 crore each.  Snapdeal has launched various programs to make sure that this promise is met. 1. Snapdeal to help its 10,000 sellers to do 1 crore business each.
  30. 30.  Snapdeal’s GMV (gross merchandise value) till August 2015 was worth $4.5 billion, and it is certainly a good decision to help their sellers make more profits by using their platform.  The CEO is Snapdeal, Kunal Bahl even wrote a letter to active sellers, where he mentions that the company will take all possible measures and extend every kind of support that sellers need to grow their business  This move by Snapdeal is both daring and justified, as their website revenue thrives on the business that these sellers make. Giving these seller more means to grow their business will not only contribute to the seller’s success, but also make Snapdeal earn more revenues in this year.
  31. 31.  With the boom of ecommerce market in India, it is not a surprise that the advertisement spend in this year would be nearly 13% as predicted by ZenithOptimedia.  Apart from ecommerce players, telecom operators and mobile handset makers are also predicted to lead the way and spend around 15% on TV ads, 10% on prints ads and 20% in the digital space.  The report suggests that ad spends are growing double-digit annually in India, and the market is likely to expand by $3 billion. This is a great news for the Indian ecommerce sector, as consumers, unlike the previous years have a more rationally optimistic approach to online shopping. 2. Ecommerce players to help India’s 2016 advertisement spend grow 13%
  32. 32.  The report also says that India is the only country among the BRIC nations that continues to grow rapidly on a large scale, making it a distinct hotspot of ad spend and eventual growth of the ecommerce sector.  ZenithOptimedia has also forcasted that the global ad expenditure will grow by 4.7% to reach $579 billion in 2016, because of the Summer Olympics held in the US and UEFA European football championship.
  33. 33.  Quikr, an Indian classified advertising platform, which is founded in 2008 has a use base of 30 million and is quite prevalent in verticals such mobile phones, household goods, cars, jobs, services and education.  In January 2016 Quikr acquired Commonfloor.com, which is a real estate online portal for $120 million in an all-stock deal.  Quikr had reported sales of Rs.24.78 crore for the year ended 31 March 2015 while CommonFloor generated sales of Rs.45.76 crore for that year, however, CommonFloor attracted a much lower valuation because of the metrics used by e-commerce investors seem unusual to shareholders in traditional businesses. 3. Quikr buys online real estate portal commonfloor.com
  34. 34.  The plus side of this merger is that apart from boosting Quikr’s sales, it will be easier for the combined entity to raise money at a time when investors have turned cautious on Indian start-ups.  Over the past six months, Quikr has been expanding into new businesses segments like automobiles, real estate, jobs, services and customer-to-customer sales to boost revenue.  CommonFloor will continue to exist as a separate brand, however, as a combined entity they will have the largest real estate inventory in the country as Quikr is betting that its user base of more than 30 million will help the company make profits in the online real estate business.
  35. 35.  Online marketplace for fashion and lifestyle products, Myntra managed to get 20 times hike in its revenue during the two-day ‘End of Reason Sale’.  More than 1.5 million units were sold in mere 2 days of sale, while acquiring 2 lac new customers.  Owned by Flipkart, Myntra has a GMV of over $500 million, which they aim to increase to $1 billion by mid-2017. Myntra jumps 20x in revenue during ‘end of reason sale’
  36. 36.  Myntra’s sale during this period was roughly estimated to 100 crore in a day, which is a testament to how Indian customers are trusting and engaging in online shopping.  Last year during this very sale, Myntra sold merchandise worth 90 crore in all the days in comparison to this year’s 100 crore in one day. This clearly shows the mindset shift of customers who have taken up to online shopping.
  37. 37.  Myntra, an online marketplace for fashion and lifestyle products has signed an exclusive deal with Forever 21 to sell the American fashion retailer's products on its app-only platform.  Myntra, which is owned by Flipkart believes that there with be 10 to 20 times brand growth with this launch as their consumer base is maturing.   Forever 21 operates in India through a 51:49 joint venture with DLF Brands and has 10 outlets all over the country. Myntra signs deal with Forever21 to sell products on app only platform
  38. 38.  With Myntra selling exclusive Forever21 merchandise on their app, it is very likely that the brand will see a huge increase in their sales, as there do not have many physical stores spread across India.  Myntra has also declared that it has about four to six new launches that are going to take place all through the course of next year.  With platforms like Myntra giving exposure to International brands, the ecommerce market in India is surely going to boom over the coming years. A recent report by PwC said that online retailing in India grew 56% a year between 2009 and 2014 and is expected to swell to $6 billion in 2016 from $3.5 billion last year.
  39. 39.  Alibaba Group, the world's largest e-retailer has a business-to-business arm, Alibaba.com, for which India is the second largest market only to China.  It launched an online platform to provide Indian small and medium enterprises (SMEs) access to global counterparts.  The company has 4.5 million registered users from India, with the country accounting for the second-highest paid users on the platform after China. India is now Alibaba group's second largest market
  40. 40.  With this platform SMEs in India can also avail assistance in terms of financing, logistics inspections and certifications, technology and SME trade-linked education.  The Chinese company has partnered with enterprises such as ICICI Bank, Kotak Mahindra Bank, Crisil Rating, Tally, Capital Float, Jeena, SGS and Mypacco to help Indian SMEs expand their business.  This move by Alibaba.com will not only help in better trade relations between India and China, but also give a much needed push to SMEs, who strive hard to flourish in the competent Indian market.
  41. 41.  The government plans in a fantastic move has decided to partner with the likes of Flipkart and Snapdeal and use common service centres (CSCs) in rural areas to deliver ecommerce services. CSCs are access points set up at the Panchayat level to help people access online and egovernance services.  There are one lakh such centres and there is a plan to increase this number to 2.5 lakh in the next four years. This move will not only help the rural population to connect with internet, but also shop in the comforts of their own village.  The government hopes that this partnership will foster rural entrepreneurs and encourage them to buy and sell through CSCs, as well as provide last-mile logistics for ecommerce firms. Government plans to take etailers like Flipkart, Snapdeal to rural areas
  42. 42.  Among the companies that are part of this partnership are Flipkart, Snapdeal, Paytm and Infibeam.  Under the initiative the CSCs will play the role of buyer and seller for the websites.  The government also plans to encourage the sale of commodities by the village-level entrepreneurs through this partnership. These entrepreneurs can log into the portal and sell through the ecommerce firms, while buyers can buy any commodities they wish too. The government is hoping that this partnerships would boost the growth of CSCs as well as take the Indian ecommerce industry to greater heights.
  43. 43.  As per Snapdeal, one out of every three orders placed on its platform in 2015 was from the ‘fashion’ category which included products like apparels, footwear and other related accessories.  Snapdeal claims a 250 percent year-on-year hike in the fashion category with customers from tier II cities wanted to get branded products not available in their cities.  There is less penetration of brands in Tier II cities, which bring customers to these websites and shop for their favourite brands from the confines of their home. Fashion still holds the top spot in ecommerce horizon
  44. 44.  In order to lure more customers in this new fiscal, eCommerce companies are now coming up with better innovative strategies.  Snapdeal has roped Shoppers Stop in a strategic partnership to launch a digital marketplace through a flagship Shoppers Stop store.  Customers ordering from Shoppers Stop store on Snapdeal can pick up the ordered products or get them delivered from the nearest Shoppers Stop store.
  45. 45.  Online retail website Snapdeal is planning to offer capital assist loans worth $1 billion to its sellers in the next three years. This move is to ensure that the merchants on the Snapdeal platform, which are now 2 lac stay loyal.  Snapdeal wants to add 1,000 sellers every three months in its loan scheme. It also stated that it is targeting a total loan disbursal of Rs. 6000 crore by the end of 2017-18. The financing would be done with the help of 22 banks and non-banking financial company (NBFC) partners.  In October, Snapdeal had said it would support small and medium enterprises (SMEs) and merchants with up to capital assist loans worth Rs. 1000-crore over the next six months. Snapdeal launches billion-dollar loan plan for its merchants
  46. 46.  The company has given out loans to sellers in around 300 cities in India so far, and is also planning to work with the government and provide loans to village level entrepreneurs and provide them a platform to sell their products.  To ensure the loans given out do not turn into bad debts, the company has developed a strong analytics programme built to check for warning signs that a seller might not be able to pay the loans.  With a proper system in place, Snapdeal with this initiative of loan disbursement will not only give a push to SMEs and sellers, but also help the Indian ecommerce sector grow manifold over the years.
  47. 47.  Mobile application fashion retailer, Myntra has tentative plans to roll out offline experience zones in the next 12-18 months.  With this development, Myntra will be joining e-commerce companies such as its parent Flipkart, Zivame, Pepperfry and Firstcry which are opening such stores to provide customers with a touch-and-feel experience of products as part of a strategy to stand out among fast mushrooming online sellers.  Myntra has also launched a fashion network for brands and consumers on its mobile app in order to boost its sales and consumer engagement as it inches towards profitability. Myntra to roll out offline experience zones in the next 12-18 months
  48. 48.  On the Myntra app platform, brands can also make a page, track their performance on dashboards and create content and start marketing campaigns. Customers, on the other hand, will be able to view personalised feeds, upload pictures and seek opinions of friends and experts.  These advancements by a platform like Myntra will push customers to trust and shop from ecommerce websites, and in turn help in the growth of the industry.
  49. 49. Thank You