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An indian start up globally acclaimed
Zomato, founded in 2008, has emerged as a leading restaurant search and discovery service, benefiting from government initiatives in India like Start-up India and Digital India. The company utilizes a diverse marketing strategy while facing challenges such as high competition and staff turnover. Despite ups and downs in the food service industry, Zomato continues to innovate and expand, focusing on customer retention and service enhancement.
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An indian start up globally acclaimed
- 1. An Indian Start-upGlobally Acclaimed: A study on ZOMATO MS. SUSMITA PATRA MS. SHEETAL KIRAN MINZ M.PHIL IN COMMERCE RAMA DEVI WOMEN’S UNIVERSITY
- 2. INTRODUCTION • Start-up Indiais a flagship initiative of the Government of India • action plan of this initiative is based on the three pillars o Simplification and Handholding, o Funding Support and Incentives, o Industry-Academia Partnership and Incubation. • Digital India is a prestigious initiative from the Government of India for reducing paper work • Digital India provides a sound and well-connected e- platform for catering their services to the customers.
- 3. • “ZOMATO- Neverhave a bad meal” • It is a restaurant search and discovery service founded in 2008 by Deepinder Goyal and Pankaj Chaddah. • Headquartered in Gurgaon FOODIEBAY in 2008 ZOMATO in 2010
- 4. ZOMATO AT AGLANCE Key Activities -To provide local restaurants and hotel search services. -To collect data on food menus, contacts and relevant information for users. Key Resources -It has large database of restaurants in various cities around the world. -Its presence across 23 countries around the world. Channels -Mobile Application -Internet Customer Segments -Users who try to find local restaurants of various cuisines. -Restaurants who want their name to reach targeted audiences. -Customer preferring home delivery. -Database companies. -Market research companies. Value Proposition -One-stop shop for dines and offers restaurants a way to differentiate them. -Bridges the gap between customers and restaurants by efficient technology which reduces delivery time.
- 5. BUSINESS MODEL RESTAURANTS ZOMATOCUSTOMER Charge of Advertisement Provide all information about restaurants and food. Download mobile app, give reviews, share photos and experience. Space to advertise and access to a wide range of customer.
- 6. SWOT ANALYSIS OFZOMATO STRENGTHS • Employs aggressive and innovative marketing strategy. • Simple & user friendly interface. • Feature of quick delivery as compared to other competitors • Trained people for faster delivery • Better customer support system. • Covers wide range of restaurants across the world. WEAKNESSES • High staff turnover. • No customization for each target market. • Drastic growth- means susceptible to bad content • Low turnover of content • Diverse app features which are complicating simple things. OPPURTUNITIES • Delivery Service • Rapid technology development • Scope to expand in further more countries • Increasing internet penetration & number of smartphone users • Growing market for potential customers. • Global Expansion THREATS • Growing potential competitors and Intense competition • Lack of clear rules and regulations • Changes in government policy can easily affect the business model • Business model can be easily imitated by other players
- 7. STRATEGIES OF ZOMATO FUNDINGSTRATEGIES February 2018- Ant Financial invested $ 200 million October 2018- Ant Financial invested $ 210 million April 2017- Sequoia Capital invested 20 million September 2015- Temasek with Vy Capital jointly invested $ 60 million April 2015- Info Edge invested $ 50 million November 2014- Vy Capital with Sequoia Capital jointly invested $ 60 million November 2013- Sequoia Capital & Info Edge jointly invested $ 37 million February 2013- Info Edge invested $ 10 million September 2012- Info Edge invested $ 2.3 million September 2011- Info Edge invested $ 3.5 million In August 2010- Info Edge invested $ 1 million
- 8. MARKETING STRATEGIES Zomato’s key success- it’sfeatured and user friendly website Employ a variety of marketing tools such as SEO, SEM extensively for online marketing. Offline tools include word-of- mouth marketing, OOH and B2B advertising. Use television advertising occasionally during high activity periods like Diwali, New Year Global mobile application for Google Android operating system, Windows phone, IOS and BlackBerry devices Turnaround strategy - implementat ion of real- time marketing Integrated other tools like coupons, price-offs, phone call and direct mail in their marketing strategy. Rolled out a subscription product called Zomato Gold
- 9. Competitive Strategies Zomato Book, Treat, and Zomato Gold Funding, especiallyfrom Ant Financial Launch of its White Label Platform Diversifying its revenue base. Well Developed Business Model New offerings in apps such as cashless payments, online ordering, table reservations and a Point-of-Sale system
- 10. CONSUMERS’ BEHAVIOUR ANALYSIS Yes 62% NotYet 15% Sometimes 18% Not Interested 5% Have you ever used the Zomato app? Foodpanda 13% Swiggy 39% Loyal to Zomato 20% Others 28% Which app (other than zomato) you use to order food? Ordering Food 70% Just for Reviews 22% Table Booking 8% Mainly for what purpose you use Zomato app? Yes 13% Are you mad? 7% Sometimes 62% Can't determine 18% Do you find the information avaialable on the app reliable?
- 11. No 23% Once 25% More than Once 8% Sometimes 44% Have youever faced any kind of problem while using the app? Superfast 12% Good 57% More Scope to improve 28% Outsource the service 3% How is the app's customer's queries service? 5 ***** 10% 4 **** 43% 3 *** 40% No * 7% What is your take on overall performance of the app? No need 15% Delivery Time 44% Customer Care Services 32% Others 9% Which area it needs to focus on? Satisfactory 59% Need to Work 20% Great 19% Very Bad 2% How is the behaviour of the delivery men? Yes 54% Not Now 20% Never 4% Strongly Recommende d 22% Would you recommend the Zomato App to your Family and Friends?
- 12. TREND ANALYSIS OFREVENUE OF ZOMATO -800 -600 -400 -200 0 200 400 600 FY 2010-11 FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 InCrores Trend Analysis Revenue Profit/Loss
- 13. CONCLUSION • Rise of‘Me Too’ Start-ups • Key factor for Zomato success is its marketing strategy and in-depth knowledge of their competitors. • Lead to the growth and expansion of the industry • However the sector has seen several ups and downs in the past few years owing to deep discounts, poor scalability and low margins. • After the FY 2015, the company has diversified into the food delivery space on seeing the rapid strides made by Swiggy and Foodpanda. • Revamped their advertising model and developed several loyalty programs to retain customers. • Zomato is having a gala time in the market but should keep innovating and rejuvenating ideas