Mar 19, 2020

What is Marketed | What can be marketed in the Market

What is marketed?

this post explains, what can be marketed and what is marketed with examples of things that can be marketed? and What are the things that can be marketed?

What is Marketed
What is Marketed

The following things can be marketed.
  1. Goods 
  2. Services
  3. Experiences
  4. Person
  5. Place
  6. Properties
  7. Organization
  8. Information
  9. Events
  10. Idea and Innovation

Goods 

Goods Marketed
Goods marketed Source - Freepik

Physical goods can be touched, seen and can be used as a physical entity. physical goods such as bikes, cars, Refrigerators, Air Coolers, Televisions, Mobile phones, Laptops, furniture, clothes, shoes, and etc.

Most often we go to the supermarket to buy milk, rice, wheat, etc this is called goods and companies trying different strategies and advertisement tactics to market these goods.

Services

Service Marketed
Service Marketed Source - freepik


One of the things that can be marketed is services, we cannot touch and feel the services because they are intangible things. Banking used different methods of marketing and banking is one of the services. When we go to the bank, we didn't buy anything our motive is to get the service from the person who is seating at the counter.

Services include the work of airlines, hotels, barber, consultant, doctor, engineer, bankers, accountant, sweeper, helper, security services, lawyer, Driver, etc.

Service Sector contributes around 53.66% of India's GDP. top service sector companies in India are Reliance Industries, HDFC, ICICI Bank, TCS, etc.

Experiences

Experiance Marketed
Experience marketed Source-Freepik

Experiences marketed by the consumers of goods and services. Companies take interviews of customers and used them for marketing purposes. for example, if someone is coming out of movie theater and he gives a good review of the movie then the director can use that experience of the person for the marketing of the movie. in that manner, the experience can be marketed.

Experience Can be marketed in Tourism Industry, Film Industry, Amusement Parks, Water Parks, Wild Safaries, Museum, Education (colleges Facilities) and Etc.


Person

Person Marketed
Person Marketed source -Freepik

A person can be marketed by their professions, for example, a sportsperson can be marketed for his achievements. Many sportsmen and artists have done an amazing job of marketing themselves.

Celebrity marketing is trending nowadays. Virat Kohli (Indian Cricketer)  is the brand ambassador of Adidas, IQOO (Mobiles), Audi, etc brands that show how companies are using these players for marketing.

Place

Place Marketed
place Marketed Source - Freepik


Places are marketed to attract tourists, investors, companies, schools, etc. Tourism contributes significantly to the growth of the economy. around 4.2 crore jobs in India are coming from the Tourism sector, which is almost 8% of the total employment of the country. Because of that the marketing of places is very crucial and plays an important role in the GDP of the country.

Around 10 Million people visit Switzerland per year. This drives the economy for Switzerland hence they have taken steps to market their place and attract more people to visit the country.  Also, Switzerland comes in the world's top 25 visiting countries.

Properties

Properties marketed
Properties marketed source- Freepik

Properties are intangible rights of ownership to either real estate or financial
property (stocks and bonds). They can be bought and sold and for doing this we required marketing.

Real State agents work for the property owners for selling and buying purposes. Owners give this work to agents because they can market their property appropriately. Companies and banks market securities to both institutional and individual investors.

Various advertising boards are placed for attracting the potential buyers of flats in buildings and houses for rent, which is the example of properties that can be marketed. 

Organizations

Organization Marketed
Organization Marketed source Freepik

Museums, performing arts organizations, Entertainment performing organizations, corporations, and nonprofits all use marketing to boost their public images and compete for audiences and funds.

Apple, brands themselves as a secure mobile brand. with the slogan "Privacy Matters".

Organizations use celebrities for marketing and companies assign Chief Marketing officers for marketing strategy making.


Information

information marketed
Information marketed Source Freepik

Companies bought information from different sources. Information is essentially what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities. 

Market researchers asked for payment to give you insight into the markets for a better understanding of investments in stocks.

As we know that Analytics is one of the fields which is trending now because of the importance that data or Information has.

Events

Events marketed
Events Marketed Source freepik

Marriage Ceremonies, Concerts, Standup Comedies shows, Circus, Fifa, Cricket WorldCup, etc. Marketers promote this kind of event to attract a maximum audience which eventually contributes to the growth of an organization.

Idea And Innovation

People sell Ideas such as the most innovative business that we can do in 2020, How to become successful in life etc. Ideas can be sold with proper marketing and this is also something that can be marketed. Relativity Theory is also an Idea that sells and works for Einstein to make him famous around the world.  his amazing work makes him sell his idea to the world with proper factual information that we have to accept.

Mar 13, 2020

format of a case study

Format of a Case Study

Writing a case study is an art, If you want to learn this art, then you have to follow the systematic approach to write a case study. 

For doing that you need an appropriate format of a case study, that you can use to write the case studies in MBA, Professional education, as an employee and student, etc.

FORMAT OF A CASE STUDY
FORMAT OF A CASE STUDY 
 I will be sharing with you the actual format for writing the case study.


Format of a case study overview

  • Abstract 
  • Introduction
  • Objective 
  • Discussion(main body)
  • Advantage
  • Disadvantage
  • Application
  • Conclusion
  • Reference

 Let's understand each point one by one so that you can get an idea about each point.


Abstract

The abstract is one of the key elements in the format of a case study.

In the abstract, we have to write a summary of a particular topic that covers the following points.

An abstract is the summary of the analysis and results that you have obtained from your work.

After writing this part the reader will get the idea about the case study in his head which helps you to engage with the reader.

Abstarct
Abstract
  • Purpose of writing a case study
  • What is the topic?
  • What are the issues that have been considered?
  • Method
  • Impacts
  • Alternatives
  • Scope of improvements
  • Result


Introduction

Introduction introduced the reader about the topic, Reader might not know about the technical or in-depth understanding of the topic, on which you are writing the case study.

Introduction bridge that gap by providing necessary information to the reader about your topic.

An introduction provides a broader overview of your topic. one thing is observed that many writers feel extreme pressure as they start writing an introduction.

The introduction must include the following points,
  • Overview of the topic.
  • Explanation of the topic with appropriate words.
  • An introduction will revolve around the whole topic.
  • It describes the necessity of the topic for consideration.
  • It must reflect the writers' perceptions.
  • It must include the type of methodology is been used.
  • What are the samples and their source of the collection?

Objective

Why Objectives
Objectives

Objectives must be very clear and must define the purpose of writing a particular case study.

Objectives define why is it required to consider in the given case study.

Objectives used to define the following,
  • Purpose
  • Reasons
  • Necessity
  • Importance
  • Goal
  • Problems to be tackle

Discussion (Main Body)

This is the place where you will write all of your analysis and results.

Here you will write all of your observations and thesis about the case study, this is the main body of your case study where you will write all of your content in-depth with proper examples(if required).

Here you will be considered each and every point that has significant importance with respect to your topic.

Discussion must include the following points,
  • Factual data (numbers)
  • Points from reference
  • In-depth Analysis of the content
  • Table, Charts, Graphs
  • Historical inputs
  • Present Problems
  • Solution
  • Impacts of solving the problem.

Advantage 

Here you will write the advantages of your case study.

Value it gives to its readers.

Why it is so important to consider the topic that you have chosen for the case study.

Advantage of your case study to society.

Disadvantage

Here you will discuss the limitation of your case study.

You must include the points which cannot be considered in your Case study.

your case study must indicate the limitation and alternatives of your topic so that the reader must have a broader view of the topic.

Application

Your case study must-have applications and some of the points included in the application will have significant importance in the future.


Conclusion

At the end of the case study, your reader must be able to declare his or her conclusion about the topic.

As the writer, you have to write the conclusion based on the data that is available in discussion in the respective case study.

Reference

The reference provides the sources that you have used in your case study. 

You have to mention all the sources from where you have taken the data and then you have used in the case study this is very essential for the engagement of the reader for a better understanding of the topic.


thank you for reading and if you have any question then you can put that in the comment section.

Mar 10, 2020

D'mart business model || Dmart Case Study

 D'mart business model||Dmart Case Study 

In India, we have seen so many big retail and supermarket stores, some of them are,
  • Vishal mega mart
  • Big Bazar
  • Reliance Retail Market
  • Walmart
  • Future retail 
  • Shoppers stop
  • Dmart
  • Spencers retail
In the cluster of these huge supermarket retail stores, some of them are big giants of the world, and we know the fact that the biggest retail store is Walmart, Across the globe.

So, you might have thought that Walmart would be the biggest retail store in India? the answer in your head would be yes but in reality, the answer to this question is NO!

Yes, You heard it right, the biggest retail store in India is Dmart supermarket.

In this post, we will understand the business model of Dmart.
How it becomes the most profitable store in India? in just a few years.

Dmart is founded by Radhakishan Damani in 2002 with the first store established in Powai, headquarter is in Mumbai. in January 2020 Dmart has up to 200 stores across various states of India which includes Maharashtra, Rajasthan, Madhya Pradesh, Gujrat, Tamil  Nadu, Andra Pradesh, Karnataka, Telengana, etc.

Dmart is doing really well in terms of profitability as compared to the other supermarket stores because it follows certain strategies, that others are not following appropriately.

Dmart used marketing strategy of word of mouth because of that they don't have to spend huge money on marketing.

These are the 5 most innovative strategies and tactics that Dmart is adapted to grow rapidly in a highly competitive market.

1)Slotting Fees

Slotting fees
Slotting Fees

Dmart has a variety of products on its shelves from different manufacturers and brands, Dmart charged some amount of money from these manufacturers and brands to list there product in their stores.

With Slotting Fees, Dmart gives a discount to its customers and hence they can sell the product at a very low price as compared to the other retail stores.

 for example, A soap manufacturer wants to list his product in Dmart, So for that, he has to give a massive slotting fee to Dmart to put his soap on the shelves of Dmart,

Here Dmart plays an interesting move, They collect Slotting fees from different manufacturers and used this money to give a discount to the customer, 

a manufacturer wants to increase there sales and dmart have a high volume of sales due to this competition, Dmart gets very high slotting fees because everyone wants to increase the sales of their products and hence Dmart earns a massive amount of money from this manufacturers.


Dmart Buy their own property (Not on lease)

Dmart owns its land and building, they did not take land on rent or lease. let's see  D'mart business model.

You might have a question that, if they acquire their own land and it requires massive capital investment then how Dmart is able to have this number of stores across the country?

Dmart calculated the amount required to established the new store, and then from its already established stores, they took some percentage of the
amount. Every year and once they have enough funds for the construction of a new store then they buy land for that and start the construction.

Dmart Flow Chart
Dmart Flow Chart

Dmart established the chain of its supermarket in every state by this strategy.from each store they took some percentage of revenue and used that money for the establishment of brand new Dmart store by this strategy they have almost 200 stores in India in different geological states.


The problem with this strategy is that the initial investment is very high because of that the growth of Dmart is very steady from 2002 till 2020, but growth is steady and stable.

the amount of expenditure Dmart saves on rent is one of the keys for them to save that amount and can be utilized to give the salary to the employees of the organization.


Dmart has its own products

Dmart has its own product with the label of Dmart on them.

If you visit the store to buy Turmeric then you will see the one product of Dmart and other of the different manufacturer but here Dmart has an amazing strategy,

They put their own product besides other brand products but with slightly different prices and quantities.

Example:- Turmeric of Dmart brand 200g cost you 38 rs and Turmeric of Other Brands of 100g cost you around 26 rs this is the commodities people don't have a specific preference for a particular brand, hence they ended up buying Dmart products which eventually makes the profit deal for the Dmart.

Products which plays a crucial role in profit contribution for Dmart is,
  • Wheat
  • Rice
  • Sugar
  • Dal
  • Poha
  • etc
all the products which Dmart gives are the parts of  D'mart business model.

Controlling the Expenditure

Dmart stores didn't have a very attractive infrastructure and the shelves are kept very close to each other, which makes space congested, as the land for the building is not very big so they used that space accordingly.

As you can see Dmart doesn't provide luxury like other malls provide, like air conditioning, Food counters, Cafeteria, Dominos, KFC, etc.

One of the advantage Dmart gives to its customer (manufacturer) by giving them payments in 5-7 days, because of that customer gives a discount to Dmart on bulk buying(high volume buying) which demart uses to give the discount on the product.

Dmart used to pay its payments to suppliers 5-6 days where others take up to 4 weeks. this is called the credit period because of that supplier gives discount to Dmart for fast payments

Dmart Targets Demographic Markets Product

Dmart tries to puts product which is famous in the local area by tieing up with local vendors and sells them at very attractive pricing.

In big stores like big bazaar and all they used to sell the goods which are famous at the national level but Dmart also includes famous goods from that particular state and region.

Dmart provides Daily discounts to the customers where other stores used to give discounts on weekends, festivals and seasonal criteria. 

Dmart is really quality conscious so they took the best quality local products in its stores, because of that it wins the customer's loyalty for the quality of products.

Let's LOOK AT SALES TABLE
SALES YEAR
592 9-Mar
1034 10-Mar
1582 11-Mar
2204 12-Mar
3334 13-Mar
4680 14-Mar
6433 15-Mar
8575 16-Mar
11887 17-Mar

As you can see from the above table that dmart sales are growing rapidly;y year by year and all these sales are in 1000(k) which reflects how much sales Dmart is actually doing which is a great sign of the ultimate business model.


Dmart Ready (online portal)

Online Dmart portal
Online Dmart Portal

Dmart launched its own online portal called Dmart Ready which has all the products that the physical store has.

They provide home delivery but they charged the amount of money for that and they have one more option for the online portal, you can order online and they have there owned pickup points from there you can pay your bill and collect your order.

As the crowd spontaneously increasing in dmart stores this idea of digitalization will help them to sell their products online as well as offline.

IPO Of Dmart

Dmart parent company Avenue Supermarts issued IPO in 2017, the Share price of the dmart is also following the growth of Dmart.

presently the price of a share of Dmart is 2170/- (-3.11%).

Founder of Dmart Mr.Damani also invested in ITC, Gillette, VST industries.


 If you like my Analysis and want to say something then comment box is yours.

Thank you for reading and if you like my post do share this article.

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