Kitaab Market Summer Internship report

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http://www.kitaabmarket.com - A project report on Kitaab Market submitted to IBS Ahmedabad for MBA Summer Internship Program, by Team Kitaab Market!

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Kitaab Market Summer Internship report

  1. 1. A REPORT ON(ESTABLISHMENT & GROWTH OF KITAAB MARKET®)Kitaab market ® Incubation Centre,IBS Ahmedabad,IBS House,Near GNFC Infotower, SG Road,Boadkdev Ahmedabad,Gujarat India, 380054 2010 ICFAI Business School, Ahmedabad
  2. 2. Acknowledgement We are deeply grateful to all those people who helped us in bringing this project from “idea to print”. We are indebted to our readers who gave us suggestions, comments and opinions. We have incorporated most of them in this project. We are extremely grateful to our project guides “Prof. Amit Saraswat, Prof. Chandrika Soyantar, Prof. Meetali Saxena, and Prof. Prashan Saxena” for their active support, patience, and valuable inputs in making this project most structured and organized. Thanks also to the project team, for their individual contribution in making the project more interesting, readable, concise, aesthetic and appealing. We are grateful to our Director of IBSA “Prof. Bala Bhaskaran” for his valuableInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad suggestions, comments, and for helping us with the illustrations, and unmatched support in this project. We feel indebted to all those writers and researchers whose thought and theories have been also helpful in bringing out this project. Though it is difficult to mention all those names in an exhaustive manner, some prominent names have been recognized in the form of references at appropriate places. We are grateful to our several colleagues at various universities and institutes who have given their valuable suggestions, from time to time. An attempt has been made to incorporate their suggestions in the project to maximum extent possible. At last we would like thanks to all our friends, family members and critics for lending their trust, support and helping us in each and every phase of this project. 1
  3. 3. Table of ContentsACKNOWLEDGEMENT............................................................................................................. 1ABOUT KITAABMARKET ........................................................................................................ 3 BUSINESS MODEL: ............................................................................................................. 4 1. VALUE PROPOSITION: .............................................................................................. 4 2. MARKET SEGMENT: ................................................................................................. 4 3. VALUE CHAIN STRUCTURE: ...................................................................................... 5 INBOUND LOGISTICS: ............................................................................................... 5 OPERATIONS: .......................................................................................................... 6 OUTBOUND LOGISTICS: ........................................................................................... 6 MARKETING & SALES: ............................................................................................ 6 SERVICE: ................................................................................................................ 6 4. REVENUE GENERATION AND MARGINS:..................................................................... 8 5. POSITION IN VALUE NETWORK ................................................................................. 8 6. COMPETITIVE STRATEGY ......................................................................................... 8 PAYMENT GATEWAY:CCAVENUE ....................................................................................... 9OBJECTIVES ........................................................................................................................ 10 Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad CREATION OF AWARENESS IN OUR TARGET GROUP ............................................................. 10 TIE UP WITH MAJOR PUBLISHERS & BOOKSELLERS............................................................. 10 CREATION OF PRESENCE IN COLLEGES OF AHMEDABAD ...................................................... 10GOALS ................................................................................................................................ 11 LAUNCH OF E-COMMERCE BASED WEBSITE ......................................................................... 11 INTERNET MARKETING: SEO ............................................................................................ 11 SOCIAL MEDIA MARKETING ............................................................................................. 12 REACH OF KITAABMARKET ON ORKUT .......................................................................... 13 REACH OF KITAABMARKET ON FACEBOOK .................................................................... 14 WEB ANALYTICS & CONVERSION OPTIMIZATION USING GOOGLE ANALYTICS ..................... 15INDUSTRY BENCHMARKING AND KITAABMARKET’S PERFORMANCE....................................... 18OUR SERVICES .................................................................................................................... 20 PROVISION OF BOOKS OFFLINE & ONLINE ......................................................................... 20 ADVERTISEMENT PLATFORM ............................................................................................ 20 SELL YOUR BOOKS (UPCOMING) ........................................................................................ 22 KITAABMARKET SOCIAL NETWORKING (EDUCATION GROUP) ............................................ 22CONCLUSION ....................................................................................................................... 22GLOSSARY .......................................................................................................................... 23 2
  4. 4. About Kitaabmarket Kitaab Market® is a unique online platform that aims to provide first hand and second hand books at affordable rates. The uniqueness of the Kitaab Market stems from the fact that it provides huge discount coupled with free shipping and plethora of payments options. We provide educational products in the following categories: * Biography & Autobiography * Business & Management * Case Studies * Computer & Internet * Engineering * Gujarati Sahitya * Medical and PharmacyInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad * Novels and many more….. History of Kitaabmarket: Kitaabmarket.com was created and launched on 1st January 2010 by three IBS Ahmedabad Students. Our Vision: To educate each and every individual. Our Mission: To win trust and confidence of our customers via our quality services, leading them to harness best opportunity available around them. KitaabMarket is a Registered Company under the Companies Act, 1956. 3
  5. 5. Business Model: To extract value from an innovation, a start-up (or any firm for that matter) needs anappropriate business model. Business models convert new technology to economic value. TheRole of the Business Model in Capturing Value from Innovation. Given the complexities ofproducts, markets, and the environment in which the firm operates, very few individuals, if any,fully understand the organizations tasks in their entirety. The technical experts know theirdomain and the business experts know theirs. The business model serves to connect these twodomains as shown in the following diagram:Role of the Business Model Technical Business Economic Inputs Model OutputsA business model draws on a multitude of business subjects, including economics,entrepreneurship, finance, marketing, operations, and strategy. The business model itself is animportant determinant of the profits to be made from an innovation. A mediocre innovation with Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabada great business model may be more profitable than a great innovation with a mediocre businessmodel.There are six components of a business model. They are as follows: 1. Value proposition: The main value proposition in the followed business is that customers have to first of all identify their needs such that they should know what suppose to buy?, from where to buy?, and many other questions that a customer has to hassle within a stupefied boundary. In our case the products and services that we are providing to the target group are available much at an ease. For example to buy a second hand or an old book any individual has to go to a specific place in their reach, for that he/she has to tackle the situation, do negotiation for a personal benefit as a result it ends to a waste of money as well as energy and after all it is not sure that individual has finally purchased it or not, hence it will be an uncertainty. To nullify all the problems we are providing all the services at their door without any complication, such a unique thing that we offer in first phase of our life cycle is much more faster, safer and reliable to all the customers that have attached with our business. This identifies that the customer will get a certain level of satisfaction because the system of a business is fulfilling their needs and wants. 2. Market segment : The business is completely related to encourage each and every individual towards education because the upcoming trends will be education with 4
  6. 6. innovation and the usage of technology. However the group of customers that we are targeting is every individual directly or indirectly within the reach of education no matter what is the age or in which discipline that individual is belongs to, our target is to provide the material of education at a very reasonable worth. The concept of a business is structured in such a way that the varied needs at different market segments should be stretched out and outperformed the traditional ways of expressing towards the customers. The only thing that can sustain this business into the market is good service with reliability and trust. Here, the potential of business unshunned all the difficulties that arises into the mind of people, the reason is that when we market ourselves the position will automatically addresses towards the aim for what we are targeting the customers. A unique thing that expresses our competitive edge in this industry is that demand your book and we will create supply for the same but also it depends upon the criteria and terms and conditions which must be fulfilled. Hence, our focus is not on simply to sell the books but to nurture the new art of exchange of education in an innovative way. 3. Value chain structure : To analyze the specific activities through which firms canInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad create a competitive advantage, it is useful to model the firm as a chain of value-creating activities. Michael Porter identified a set of interrelated generic activities common to a wide range of firms. The resulting model is known as the value chain and is depicted below: Primary Value Chain Activities Inbound Outbound Marketing > Operations > > > Service Logistics Logistics & Sales The goal of these activities is to create value that exceeds the cost of providing the product or service, thus generating a profit margin. Inbound logistics : Kitaab Market is a concept rather than a business; there are much concrete reasons that shows it really works on the system of virtual inbound logistics. Here, there core side of it is the online support with an offline base. When an order is placed on through an online mode or offline mode there will be a requirement of time in which our customer support service will identify all the necessary aspects, then the order of a numbers of books will be purchased from the publishers and then within 24 to 48 hours or even less than that time it is delivered to the respective customer. There is no requirement of warehousing the stocks, it only require the proper way of transportation in this current phase of our business. 5
  7. 7. This system also needs the helping hand of packaging. The thing should be cared muchdue to the safety reasons, in case of environmental uncertainties it requires more amountof attention.Operations: This terminology will include the processes that are involved in gettingthe books and delivering it. This will ultimately depends upon in what way we arehandling the product such that it reaches to it’s destination in a safer mode. It involvesproper packaging and labeling, the first thing will include a comfortable and soothingmaterial that protects the books in any rough and tough conditions, the books should bebinded with a hard cover, the main thing is that the books should be in a good conditionas specially when the books are of second hand type where as the second thing willinclude the logo of our business of the package, the electronic generated invoice shouldbe sticked because the customer can see easily the information mentioned on that invoiceis correct or not, the purchased amount with provided discount in mentioned or not. Allthis things is checked by a person allotted to do that work and when all the processes iscleared then only it will be delivered to the respective customer. All the processes aretracked by the tracking system that is involved in the operations. Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadOutbound logistics : This section would include How part of our services that wedelivered to our target group. When all the processes are finished the packaged books arethen delivered by the spot boys to the respective customer. The main thing that we shouldcare of is that the product should reach to the customer in a very sophisticated manner.Here, at this stage we do not require any inventory to store all the books, when the orderplaced then only we purchase the books from the publishers.Marketing & Sales : under this heading there are various activities that we havecarried out to reach to our target group. For example we hired some students to pitch intomarket for advertisements, sponsorship and to spread awareness; these activities arecurrently under the progress process. Another example of marketing is that we getfrequently media coverage such that it increases our sales, new visits on websites, etc.We are thankful to all the publishers that have appreciated our business and comeforward to help us. All things together make our business a family that has an aim tospread a joy full life with innovation and technology. Still we have not started coremarketing strategies to conquer the market. The pricing of our products are not muchsimilar to the book sellers that are of same size in the industry, we provide maximumupto 30% discount on Academics section and on Gujarati Sahitya 15% discount to anindividual customer with a free home delivery service which keeps us on top of themarket in an introductory stage.Service: Activities are those that maintain and enhance the products value includingcustomer support, repair services, etc. The services that we are providing to ourcustomers are as follows: 6
  8. 8. o Multiple categories like Academics, Business & Management, Engineering, Novels, Gujarati Sahitya, and many more. o Online huge inventory of books. o Free home delivery. o Trusted and secure payment mode both online and offline. o Exciting discounts available on new and used books. o Trusted shipping partner. o Free registration. o Money back guarantee if not delivered as per order*. o Online and offline customer support available via email, live chat, mobile support. o Demand your books we will create supply of the same*. o Special vouchers for don’t have money? Read books online. Any or all of these primary activities may be vital in developing a competitive advantage. For example, logistics activities are critical for a provider of distribution services, and service activities may be the key focus for a firm offering on-site availability of all kinds of books. These five categories are generic and portrayed here in a general manner. Each generic activity includes specific activities that vary by industry.Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad Support Activities : The primary value chain activities described above are facilitated by support activities. Porter identified four generic categories of support activities, the details of which are industry-specific. Procurement: The function of purchasing the books and other inputs used in the value-creating activities. Technology Development : Includes research and development, process automation, and other technology development used to support the value-chain activities. Human Resource Management : The activities associated with recruiting, development, and compensation of employees. Firm Infrastructure : Includes activities such as finance, legal, quality management, etc. Support activities often are viewed as "overhead", but some firms successfully have used them to develop a competitive advantage, for example, to develop a cost advantage through innovative management of information systems. Value Chain Analysis : In order to better understand the activities leading to a competitive advantage, one can begin with the generic value chain and then identify the relevant firm-specific activities. Process flows can be mapped, and these flows used to isolate the individual value-creating activities. Once the discrete activities are defined, linkages between activities should be identified. A linkage exists if the performance or cost of one activity affects that of another. Competitive advantage may be obtained by optimizing and coordinating linked activities. 7
  9. 9. The value chain also is useful in outsourcing decisions. Understanding the linkages between activities can lead to more optimal make-or-buy decisions that can result in either a cost advantage or a differentiation advantage. The Val ue System : The firms value chain links to the value chains of upstream suppliers and downstream buyers. The result is a larger stream of activities known as the value system. The development of a competitive advantage depends not only on the firm- specific value chain, but also on the value system of which the firm is a part.4. Revenue generation and margins: In every business the main seeds are the finance and strategically applications that build the base. In finance for a business have two aspects they are its monitoring cash flows and have control over the overhead costs. We have created various ways through which revenue will be generated, they are firstly the amount of margin that we are getting from the side of publishers’ and from the side of customers when they are purchasing as well as selling second hand books, another way of availing the revenue is that we opt advertisements on our website such that other businesses also get benefit from our business. Now let us discuss about the cost structure in brief, the main cost that we face is purchase of books from publishers, marketing cost yet we have not started the core marketing but Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad as a provision it must be mentioned, Stationary cost, technological up gradation cost, there are fixed cost also that we have to pay yearly they are CCAvenue’s fee, depreciated value of the asset that we have equipped in the business. There are many more things that would be included into this section but as this business is in its introductory stage so other things are ignored. Our grateful thanks to college that the administrative has provided the incubation cell such that the business would be nurtured under the mentorship of expert faculties, this major and supportive hand make us stand in the market which conserve our various costs such as office costs, stationary costs, furniture costs, administrative expenses, and various other expenses.5. Position in value network - identification of competitors, complementors, and any network effects that can be utilized to deliver more value to the customer.6. Competitive strategy - how the company will attempt to develop a sustainable competitive advantage, for example, by means of a cost, differentiation, or niche strategy. 8
  10. 10. Payment Gateway:CCAvenue Incorporated in the year 2001, Avenues is a zero-debt company which has been profitable from its inception. Avenues is head quartered in Mumbai, India and has subsidiary companies and offices in USA and Singapore. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally. Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices. Avenues has three Business Units namely– Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services.Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad Kitaab Market has tied up with CCAvenue as Payment Gateway Solution Provider in order to enable live e-commerce transaction on website. The advantage that has been leveraged with CCAvenues is plethora of payment options that would be available on website of Kitaabmarket. Now Customers can pay directly the amount of their purchased books and other services via Credit Card, Net Banking and Debit Cards of 20+ Nationalized Banks, Phone and Mobile Payment methods etc. 9
  11. 11. ObjectivesCreation of awareness in our target group The first objective that we have setup for Kitaabmarket was to create awareness amongour target group audience. This objective is the most important objective for our business fromthe point that once we come in our market, our target audience must be aware of Kitaabmarketand its services.Tie up with Major Publishers & booksellers The Second Objective is to create mutually beneficial and long-lasting relationship withPublishers and Booksellers in and across city Ahmedabad. This objective was set keeping inmind the need of having wide range of books from the multiple categories. Directly uniting withPublishers would help us to gain the advantage of offering the books at much discounted price toour customers. Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadCreation of presence in colleges of Ahmedabad The third objective is to reach and connect with colleges of city Ahmedabad to help theirstudents to get books on a discounted price, having the option of buying either from second handcategory or first hand category. 10
  12. 12. Goals Launch of E-commerce based website The First Goal that we have setup for Kitaabmarket was to bring it online. Not only we thought of purchasing its domain name (http://www.kitaabmarket.com) name but also we carefully planned out its website. We invested good amount of time in planning its features, designing its front end, providing ease of functionality and maintaining good look and feel. The website alpha version was prepared on 19th December 2009, and it was locally tested by our team and finally its beta version was uploaded and made live to public on 1st January 2010. Internet Marketing: SEO Much before the website was made live on internet, we’ve worked out its internet marketing strategy of how to drive targeted traffic to the website. The Keyword research led us to find the best industry search keywords for Books website and we fully optimized our live website with those keywords. We were anticipating for 1st page rank on Google, Yahoo and Bing (Microsoft) and finally got the website rank 1st on Keywords “Second Hand Booksellers in Ahmedabad” as shown in figure below:Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad11
  13. 13. Social Media MarketingSocial Media Marketing is defined as engaging online communities for the purpose of generatingexposure, opportunities and sales. The number one advantage is generating exposure for abusiness, followed by increased traffic and the building of new business partnerships. Commonsocial media marketing tools include Twitter, Blogs, Facebook, LinkedIn and YouTube. Wehave found with our research that our target audience is mostly found on two popular socialnetworks viz. Facebook and Orkut therefore we have used and optimized both these socialnetwork in order to create brand awareness, exposure and user engagement with Kitaabmarketthat is visible from the following facts and figures: Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad 12
  14. 14. Reach of Kitaabmarket on OrkutInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad We have run many promotional free ads on Orkut Network in order to let our target know about Kitaabmarket. The most successful campaigns among all are shown above. Orkut promotional tool is a viral tool of spreading awareness among friends of friends. It is obvious from the above statistics that near about 300 times the ads were seen (impression), 18 times those were self-promoted by users of Orkut. The 195 times the ads were circulated among orkut users. These ads are still running on Orkut and driving good amount of awareness and traffic among our target audience.13
  15. 15. Reach of Kitaabmarket on Facebook Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadOur brand Kitaabmarket is mostly visible liked by user group of age 18-24, followed by25-34which is clearly visible from the stats provided by Facebook. 14
  16. 16. The awareness of Kitaabmarket on facebook is mostly in India, followed by US. The top- participating users are of India are from City New Delhi, Mumbai, Ahmedabad having language English(UK &US). Web Analytics & Conversion Optimization using Google Analytics In internet marketing, Web-Analytics is the measurement and analysis of various online activities like page visits, bounce rate, conversion rate etc. whereas conversion optimization is the science and art of creating an experience for a website visitor with the goal of converting the visitor into a customer. Why Conversion Optimization? Frequently, when marketers target a pocket of customers that has shown spectacular lift in an ad campaign, they belatedly discover the behavior is not consistent, with online marketing response rates fluctuate widely from hour to hour, segment to segment and offer to offer. These methodologies, or “conversion optimization” methods, are then taken a step further toInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad run in a real-time environment. The real-time data collection and subsequent messaging as a result, increases the scale and effectiveness of the online campaign. We at Kitaabmarket have extensively used Google Analytics to gather, analyze and optimize the website according to insights gained from it. We have received following insights from Google Analytics about Kitaabmarket website: The site has been visited by 11, 475 visitors till now The visitors have seen 17,303 times pages of Kitaab Market Upon each visit, on an average they visit 5.16 pages Out of 100% visitors only 31.58% visitors close the website right after seeing the website homepage. The bounce rate must not increase beyond 40% as per Google Conversion University. Visitors for more than 6 minutes on websites Out of total visits, 66.17% are new visitors.15
  17. 17. Google analytic report suggests that 35.59% of visitors stay on the site for a minute.Also 40.13 % of visitors stay on the site for more than 5 minutes. This enhances theprobability of viewing the Ads on the site. Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadGoogle analytic report shows visits from prominent cities of India. Gujarat’s citiescomprises of more 50 % of total visits.On each visit, a visitor views approximately 5 pages on an average. 16
  18. 18. Google analytic report shows that KitaabMarket is also visited by mobile users. On each visit via mobile phone, a visitor views approximately 5 pages on an averageInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad17
  19. 19. Industry BenchMarking and Kitaabmarket’s performance Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadGoogle Analytics clearly suggest that Kitaabmarket website is ahead of its other sites of similarsize in following metrics in just a period of one month: Visits: For one month only, 1,717 visitors have visited the website whereas the industry performance(benchmark) was 164 visits only. Hence there +94.95% of rise in Visit metric for Kitaab Market. Bounce Rate: For one month, the bounce rate for Kitaabmarket was only 35.12% whereas Industry performance or benchmark was 47.55%. Hence there was negative 26.15% of improvement in bouncerate. Remember the higher the negative percentage for this metric the higher the success the website has achieved. For a month, 8223 times the page of Kitaabmarket was seen by visitors of Kitaabmarket whereas the industry performance for a month was only 318, revealing +2485.85% rise in this metric for Kitaabmarket. 18
  20. 20. Average time user spend on Kitaabmarket is 05:45 minutes on the website whereas the industry average is only 00:00:23 second for the last month. Again here the rise of 1335.77% of rise is shown. On an average a typical kitaab market user view 4.79 pages of Kitaabmarket whereas for the same size of booksellers website in industry the benchmark is only 1.93 pages/visit. 2485.85% of change is seen on Kitaabmarket Out of total visits in a month 64.07% were new visits and which is just few percentage below the industry average i.e. 65.76%Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad19
  21. 21. Our ServicesProvision of Books Offline & Online Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadKitaabmarket is a unique platform created to offer students, teachers, acamedicians, etc topurchase the books either in first hand or second condition either Online or Offline. Both onlineand offline services of Kitaabmarket is available right now. We are further working on toimprove the user online purchasing experience by introducing various features on website itself.Advertisement Platform Kitaabmarket Ads platform is a unique service created by Team Kitaabmarket to offeradvertisers an opportunity to reach their target market via our platform. As obvious from GoogleAnalytics report, Kitaab Market has been getting increasing no. of visits, higher no. of time-duration a visitors stays on site and visits from major cities of India, undoubtedly Kitaabmarkethas the potential to let our advertisers to create their advertising campaign through our platform.The reason why advertisers will find Kitaabmarket ads useful for their advertisement can bejustified through following points: 20
  22. 22. 1. First ever Second Hand Online Bookshop. 2. First online platform designed in conformance with students needs. 3. Within a short span of time, there has been tremendous response from the student’s community. 4. The Online store, with the highest privilege of getting least bounce rate. 5. The average time a visitor stays on site is much beyond the average of Industry. 6. Thousands of clicks from every corner of India. 7. Visits from nooks and corner of India. 8. Kitaab Market’s website is well-optimized for mobile platform, evident from the mobile phone visits. 9. 2/3rd of total visits are new visits, which is increasing day by day. 10 Fans following from social networking sites like Facebook, Orkut, Twitter etc. Therefore we have created following plans for our advertisers:Interim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad21
  23. 23. Sell your books (upcoming)We’re very soon going to add a unique feature on our site; i.e. sell your books online. The idea isstill in its fancy stage but Team KitaabMarket is confident of launching this service very soon innear future. Almost 60-65% part of the work has been completed, only the implementation andmarketing part is left of it.KitaabMarket Social Networking (Education Group )Lastly, we’re very soon also going to launch our own social networking site especially packedwith features tailored for students need. The Social Network will contain all the features foundon regular social networks, and in addition we will make it more student centric in itsfunctionality and features. Features like sharing of e-books, journals, articles, etc are on top-listright now and as the time passes, through online research, we will add more functionalities intoit. The reason behind social networking is to constantly engage user on Kitaabmarket, therebydriving and retaining traffic in and around KitaabMarket. Interim Report on Kitaab Market | 2010 ICFAI Business School, AhmedabadConclusion To conclude, we would say that Kitaabmarket was a dream few days before and with theefforts of Team Kitaabmarket, support of IBS Ahmedabad and its faculties, it has got a goodplatform to achieve more success day by day…! 22
  24. 24. Glossary Website: A website is a group of web-document(web-pages) connected through hyperlinks. Hyperlink: A connection between a page with a different page or an object on World Wide Web Online Marketing: Internet marketing also referred to as i-marketing, web-marketing, online- marketing, Search Engine Marketing (SEM) or e-Marketing, is the marketing of products or services over the Internet. Search Engine Optimization (SEO): The act of altering a web site so that it does well in the organic, crawler-based listings of search engines. In the past, has also been used as a term for any type of search engine marketing activity, though now the term search engine marketing is more commonly used as an umbrella term. Social Media Marketing(SMM): A form of internet marketing which seeks to achieve branding and marketing communication goals through the participation in various social media networks (MySpace, Facebook, LinkedIn), social bookmarking (Digg, Stumbleupon), social media sharing (Flickr, YouTube), review/ratings sites (ePinions, BizRate), blogs, forums, news aggregators and virtual 3D networks (SecondLife, ActiveWorlds). Each social media site can be optimized toInterim Report on Kitaab Market | 2010 ICFAI Business School, Ahmedabad generate awareness or traffic. Conversion Optimization: In internet marketing, conversion optimization is the science and art of creating an experience for a website visitor with the goal of converting the visitor into a customer. Bounce Rate: The percentage of initial visitors to a site who "bounce" or leave away to a different site, rather than continue on to other pages within the same site. Page views: A page view (PV) or page impression is a request to load a single page of an Internet site. On the World Wide Web a page request would result from a web surfer clicking on a link on another HTML page pointing to the page in question. This should be contrasted with a hit, which refers to a request for a file from a web server. There may therefore be many hits per page view since a page can be made up of multiple files. Google Analytics: Google Analytics (GA) is a free service offered by Google that generates detailed statistics about the visitors to a website. Its main highlight is that the product is aimed at marketers as opposed to webmasters and technologists from which the industry of web analytics originally grew. It is the most widely used website statistics service, currently in use at around 57% of the 10,000 most popular websites. Web Analytics: The measurement and analysis of various online activities like page visits, bounce rate, conversion rate etc23

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