Tuesday, April 30, 2013

India needs strategy not ideas!!

Entrepreneurship is a word used interchangeably with new Ideas everywhere in the world!! But, NOT IN INDIA. The country with 1.3 billion population have enough problems which needs to solved. for ex- transportation, electricity, water resources, unemployment etc. Some of these problems are global problems whose solutions are already devised in developed countries. Hence, they can be replicated in India. Some of the ideas which was just an Indian adaptation of the popular ideas have gained exorbitant response in the Indian market are -
  1. Snapdeal.com: This company is often called as the "Groupon of India". Earlier, it was a challenge for retailers, restaurants, entertainment-centers, spas, dance classes to get themselves connected to consumers. Snapdeal adopted the Groupon model and formed a network of merchants across the metro cities and offered users the discount from these merchants ranging between 50-80%. This idea got the initial traction and through social media it became viral over the internet. The main reason for their success was their aggressive sales team for making relationship with merchants and great customer service.
                               
  2. Flipkart.com : It is often termed as the Indian-ized version of e-commerce behemoth Amazon.com. As many people think, It was not the first e-commerce company in India. So, what strategy it adopted so that it became the largest e-commerce platform in India while others couldn't? There can be several reason to explain this : 

    • They strategically positioned their fulfillment warehouses to enable same day deliveries.
    • In a country, where people are scared to pay online. They introduced payment on delivery which helped them to gain customer confidence.
    • Biggest book catalogue in Indian market.
    • Earlier websites had the poor customer experience and Flipkart website was easy to navigate with relevant recommendation based on customer profiling.
    • Huge discount on books to attract consumers from brick and mortar stores.
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