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Flipkart marketing strategy
- Flipkart is an Indian electronic commerce company founded in 2007 and headquartered in Bangalore, India. It employs over 10,000 people and had revenue of $1 billion in FY 2013-2014. - Flipkart began as an online bookstore and has since expanded to sell products across various categories including electronics, fashion, home goods, and more. It has over 22 million registered users and processes 5 million shipments per month. - The e-commerce industry in India is growing rapidly and Flipkart faces competition from other domestic and international online retailers looking to capitalize on India's fast growing online market.
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Flipkart marketing strategy
- 1. Suket Gupta -141351 Sunny Wadhwani - 141352 Surabhi Pandey - 141353 Shweta Dubey - 141354 Tarun Vasnani - 141355
- 2. INTRODUCTION • FOUNDERS– SACHIN AND BINNY BANSAL • HEAD QUARTER – BANGALORE, INDIA • AREA SERVED – INDIA • INDUSTRY – ONLINE RETAILING • SERVICE – ELECTRONIC COMMERCE • EMPLOYEES- 10,000 • REVENUE - $1 BILLION ( FY 2013-14 )
- 3. FACTS • ‘TheOnline Megastore’ was founded In 2007 • Seed Money Of ₹4 Lacs • Initially Focused On Online Sale Of Books • One Of The 10 Most Visited Websites In India • Recently Acquired Myntra for ₹2000 Cr • Today The Company Sells Products Across Categories Like Apparel, Electronics, Home & Kitchen And Sports Equipments. • Flipkart has 22 million registered users and handles 5 million shipments every month.
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- 5. E-COMMERCE INDUSTRY ININDIA • Rapid growth and high potential • Fastest growing market in Asia Pacific region. • Social media and mobile technologies • Large retailer are coming online for better awareness of their product in consumers
- 6. MARKET DEMOGRAPHIC •Caters to tier 1, tier 2 and tier 3 apart from metropolitan. • Third largest internet user of 124 million. • Expected mobile user base of 87.1 million by 2015. • On an average 20 products are sold in A minute. • More than 75% population is between 15-34 year • Projected sale by end of year 2015 by 10 billion
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- 8. TAGLINES Book StoreAt Your Door The Store At Your Door Jo Dikhta Hai Wo Bikta Hai No Kidding , No Worries Shopping Ka Naya Address
- 9. PRODUCTS • Books • Music And Movies • Games • Computer And Related Accessories • Mobiles And Cameras • Beauty And Healthcare Products • Stationery • Toys • Perfumes And Cosmetics • Home Appliances And Electronics
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- 11. STRENGTH • Ithas its own logistics arm (eKart Logistics) • Many payment options • First mover advantage • Customer orientation website • Various filters to sort through products. • Offers competitive prices through discounts • Quick Home delivery • Gift service on various occasions. • Cash On Delivery
- 12. WEAKNESS • Peoplesceptical about security of online transactions. • Takes time to build confidence among people. • Low profitability.
- 13. OPPORTUNITIES • Proliferationof m-commerce. • Increasing internet penetration • Target social media for more number of customers. • Untapped potential in FMCG sector.
- 14. THREATS • Highcompetition by other existing online markets. • Capture of latent market demand by competitors. • Government policy regarding FDI in e-commerce.
- 15. STRATEGIES • Membershipcards & premium facilities (Flipkart First and Flipkart Students.) • Extended range of all products. • Providing sponsorships and space for local retailers • Multiple language option on websites. • Friendly user interface. • Gift packaging (discounts and gift vouchers) • Market penetration by funny advertisements.
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- 17. STRATEGIES • Specialoffers on occasions such as Diwali, Teacher’s Day. • Customers Insights • Branding – Idea Creation • Measuring Effectiveness by rating given by customers. • Partnership with Motorola and Xiaomi for exclusive product launches. • Launch of own product range under the name "DigiFlip", offering camera bags, pen-drives, computer accessories, etc.
- 18. PROBLEMS • Touchand feel experience of product is missing • Return policies are cumbersome. • Customers hesitate to buy expensive product online. • Delivery issues in small cities and towns. • Public’s online trust is less.
- 19. TARGET CUSTOMES •People who surf internet • People who don’t have time to shop • Urban population • Variety seeking people • People who prefer a hassle feel free approach to shopping.
- 20. KEY INSIGHTS •People are comfortable shopping while shopping up to ₹5000. • People prefer the privacy offered by online shopping. • They feel online portal provides more options for shopping • They can judge and compare products easily as compared to retail outlets.