Marketing & Strategy Articles

Base of the economic pyramid provides a great opportunity for any start-up to come up with an innovation as it is easy to find lot of untouched segments in it. A simple solution for a basic problem will make you a hero in this segment. In spite of such huge opportunities why are the big giants not tapping their innovations into this segment is a debating point here. One of the biggest hurdles here is how you make your innovation reach to larger set of customers. In other words, are there enough means to make your innovation visible to people in this segment and attract them to use your services or product? The answer to this question is definitely a starting point for any Start-up to innovate in the base of economic pyramid.

A lot of people feel that if a product is good, it will serve the customers well. A high quality offering which is decently priced is good enough to lure customers. This is the philosophy behind several technology and software startups where they user their creativity and skills to offer a more polished product or service. But in hindsight, it is not the only recipe for success. Thus it is critical for business people to have a thorough understanding about sales and marketing.

E-commerce, a term which has made its presence felt in really short span of time, is an act of performing the commercial activities of selling and purchasing through technology over the internet. E-commerce industry has grown manifolds during last decade because of large penetration of internet, smartphones, strong network and increasing consumer wealth. 71% of the total number of shoppers worldwide in 2017, believe they would grab a better deal online with a better overall experience compared to shopping in high street stores.

A customer visits a store to buy a pair of jeans. While at the store, the customer realizes that the XYZ store has about 10 varieties of jeans from ankle length, straight fit, high waited, etc. At this juncture, the salesman, who has already comprehended the great dilemma that the customer is in, explains to her the type of fit each pair will have, what are the ideal situations one must wear the respective pair of jeans and what looks good with them.

What is the first brand that comes to your mind when you think of color red? Majority of you would say Vodafone or Coca Cola.

Or a company associated with the color Blue? The top of the mind brands would be Samsung or Pepsi.

Similarly, the color Yellow would help us associate with a brand like McDonalds or Idea telecom.

Today in the world, it is increasingly becoming difficult to enhance sustainable growth of the firm due to extensive global competition. In the battle for new talent, HR divisions have been compelled to extend their nomenclature from hiring and firing, directing personnel frameworks and procedures, employee training and development to adopting strategies to grow employer awareness, to build the employer brand as a “great place to work,” and to retain top talent. With technology presenting new solutions to organizations, HR departments have also started using cutting edge technology tools in the market. These best of breed tools help in cutting competition but the ultimate challenge remains to identify market opportunity, grab that and generate measurable results.