Flipkart Marketing Management : Assignment
Added on 2020-10-05
16 Pages4583 Words475 Views
MarketingManagement
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing management refers to the process of accessing and improvising the currentmarketing strategies that a company uses in order to achieve higher success through their efforts.This report is about an electronic commerce company named as 'Flipkart', headquarters inBangluru, India. It sales number of products online which includes consumer electronic, books,lifestyle, baby care and many more. This assignment talks about the background of e-commerceand market positioning as well as USP used by Flipkart (Baker,2016). Further it includesdescription of market audit conducted using SWOT & PESTLE analytical tool. Apart from this itexplains about marketing mix of company and methods to improve it also covered in this report.MAIN BODYMarketing refers to the set of activities that are used for communicating the informationas well as importance of a commodity in order to influence customers to purchase product orservices. Marketing management is defined as the process of analysing, planning, applying andcontrolling the program designed for approaching the target market and for achieving the desiredoutcome. Flipkart is an online retailer of India, which sell its product or services using its ownwebsite throughout the world. Background:-E-commerce refers to the buying and selling of good or services online with the help ofWorld Wide Web. E-commerce market is consider to be one of the most powerful and fastestgrowing sector of the world. With the emergence of information technology, E-commercemarket has also gained popularity in India and this revolution has changed the whole scenario ofdoing business in country. Now, Indian E-commerce market is now expected to grow up-to US$200 billion by 2026. Introduction of smartphones, 4G networks and increasing customer wealthare consider to be main reason behind the popularity of e-commerce market in India. With the e-commerce revolution, number of retail companies also started selling their product or servicesonline to achieving higher revenue and sale (Fernandez, Le Roy and Gnyawali, 2014). Retailcompanies like Flipkart, Snapdeal, Amazon etc. are the greatest promoter of e-commercebusiness in India. According to present scenario, online retail sale in India is expected to increaseby 31% in upcoming year. Apart from this government of India also promoted the use of e-commerce by providingvarious opportunities to businessmen by initiating several schemes Digital India, Make in India,1
Start-up India and innovation fund. In these schemes government provides loans to smallbusiness so that they can expand their business over an e-commerce platform. The timelyimplementation of these programs support the growth and existence of E-commerce in India. Flipkart Pvt. Ltd is one of the largest Indian E-commerce company, headquartered inBengaluru. It was founded by Sachin Bansal and Binny Bansal in year 2007 when they use tosell books online. It was the most riskier decision taken by them to sell product online as thattime e-commerce was not much exists. After gaining popularity company expanded its businessin other product categories such as mobile phones, music, movies, etc. With the momentumgained by e-commerce in India, Flipkart started offering different range of products and now itoffers more than 80 million products categories which includes computer and accessories,laptops, books, lifestyle products, home appliances, electronic goods, baby care, toys, jewelleryand many more (E-commerce Industry in India, 2018).Flipkart positioned itself as a customer friendly and trust worthy e-commerce brand bylaunching its 'cash on delivery' services. This option help in developing confidence as well astrust among online buyer. As they hesitate to pay online or disclose their financial information onweb page. Cash on delivery option influence target market up to a large extent for purchasingproducts online. Further company also put more effort toward improving the supply chain systemfor delivering product or services on timely manner. These positioning helped Flipkart inmaximizing their customer share in market and now company has more than 100 millionregisterd customers. Apart from this company's unique selling preposition also support company to achievesuch heights in e-commerce industry. Flipkart targeted customer support services as their USP,where more than 2500 staff work 24/7 for offering better services to their customers (Flipkart –Company Profile, 2016). It also manage its own supply chain which includes warehouses anddistribution centres across 13 cities of India. Other USP of Flipkart are quality and originalproduct, genuine Feedback & rating etc. These all unique selling preposition assists Flipkart inachieving popularity and building trust among target customers. Market audit of FlipkartMarket audit refers to the process of thoroughly reviewing the firm's marketing approach,activities and aims to determine the potentiality and viability of current market strategies. Itincludes evaluation of business environment both internally as well as externally which further2
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