Posted: February 17th, 2022
Understanding Marketing Management
Marketing Management
Table of Contents
Question- 1
Introduction
According to Bhavish Aggarwal, the co-founder of OLA, the innovation of the OLA scooter in the Indian market has been going to create a history in the electric scooter industry. As the company has already forecasted to launch more than 10 million electric scooters in the market, the management has developed a strategic plan to attract more customers beforehand. They have decided to launch a program of booking the two-wheeler by paying just Rs. 499, and the rest can be paid at the time of delivery. Even though they have also ensured that consumers can take their money back if they change their mind about buying the vehicle. Thus, in this report, the further strategies of the company regarding the new launch will be discussed.
Concept and Analysis
The company has already gained immense success in their segment of Ola Cabs. People feel more comfortable and find an easy and convenient way to go to their preferred destinations by the Ola cabs. Moreover, many people are also getting employed with the availability of the cabs at a good number in the market. Thus, the people have their cabs and can earn money accordingly, but the company has faced the trigger from a similar company called Uber. This company also deals with cabs, and they have also decreased their rates with that of the Ola Cabs. Thus, the position of Ola cabs has been turned down in the Indian market.
Henceforth, the different outlook also has been highlighted. According to some people, Ola cabs are more convenient than Uber cabs. Even the old-aged people who are not tech-savvy prefer to ride by Ola instead of their cars. They even have found the seats and other equipment of the cabs as very comfortable and cleaned ones. Thus, to maintain this status in the market, the company needs to launch its new electric scooter strategically.
According to Bhavish Aggarwal, the launch of the electric scooter will change the market scenario. As the company has targeted the issue of time management among the Indians, this electric scooter will prove as a boon for them. With the help of this scooter, people can reach their destinations within a brief period. Moreover, as the company has come up with the plan of Rs. 499 so people from all levels of society can get a chance to have the newly launched scooters.
The company will also start several plans of EMIs so that the consumers can pay the rest of the money in segments. The Ola scooters come in two types. They are S1 and S1 Pro. If anyone wants to buy the S1, he can pay Rs 2999 every month for 48 months, and if anyone wants to go with the S1 Pro, he can pay Rs 3199 till the 48th month on an EMI basis. This will help the consumer buy the scooter according to their financial condition.
The company has also come up with a wide range of color options in the scooters. Mission electric is the innovative initiative of the company to go electrically and curb down the use of petrol in the two-wheelers. This kind of strategy is helping the company to attract more consumers as this is intended towards the sustainability of the environment. It will also help to diminish the pollution level in the background. Moreover, the company is also forecasted to provide several other offers so that, like Ola cabs, ola scooters also can allow the needy people to earn their daily bread. It will help the company increase the supply chain and the popularity of these newly launched scooters in the market. The company needs to make the infrastructural changes by adding the digitalization strategy. Posting ads on social media platforms and the pop messages on the websites will help the company penetrate the computers and smartphones of the consumers. Thus, the people may show interest to know more regarding the newly launched scooters.
Conclusion
To conclude the report, it can be said that the Ola company is doing a great job by launching electric scooters in the market. Before this company, no such company has taken up this kind of initiative. Thus, it will also give the company an extra preference for starting the mission of curbing down the use of petrol. As the report has already discussed, the reasonable rates of the scooters and the EMI facilities have also paced up the Ola scooters’ selling rate. The company should maintain this strategy afterward so that the consumers can have faith in the company and get the flow of consumers at a high speed.
Question- 2
Introduction
In 2020, the Indian Government and the USA Government had decided to ban the PUBG and Tik-Tok apps. According to the government, both apps have been proven to be toxic in terms of the nation’s sovereignty. It has also paced up the rate of illegal activities. Due to the large scale of supporters and users, the PUBG has been relaunched as the Battlegrounds, and it has satisfied all the users of the PUBG. Tik-Tock has also been relaunched under the name of Tik-Tock. The company has decided to go with this trademark. As the company is India-based and has been approved by the Indian Government, there is no such further risk. It has been intended to promote the brand to have a similar customer base just like the previous version. Thus, the report will discuss such strategies through which the company can meet its expected outcome.
Concept and Analysis
Due to the reason for banning the Tik-Tok app, the youth has become upset. The younger people craze for making short videos in different content, whether emotional or comedian. They love to post it on social media platforms (Facebook, Instagram). By posting the videos, they also can get popularity in terms of the ratings (Likes and Comments). Even though some of them earn money as they are also involved in promoting the brand. Thus, the company should use the young generation to get the status back.
The company can attract people by posting several ads on social media and with pop-up messages on the web portals. Moreover, the company should engage several segments to involve the facts of social awareness. Apart from that, the company can allow the strategy of ‘influencer marketing’ to level up the small-budget business. It will help those small companies intending to promote their brand at a more significant aspect. As an example, it can be said that a cosmetic brand called Vancouver can promote its brand by the #vancouvarcosmetics and can search for an influencer who is interested in promoting their brand by their reels.
Moreover, the company has been allowed to provide individual tick-tock platforms through which a person can use the tick-tock for his purpose, post anything he wants, and launch several new day-to-day challenges for letting the people know about his content. This should be posted on the social media platform and YouTube channels so that the people who want to connect with this app can get the details.
The company has also developed a strategy in which the brands can promote their products at a reasonable price. Well-known brands like Maybelline have already started promoting their products on this platform. Like Facebook and Instagram, Tik-Tock has become a platform where all types of brands can post their ads. By maintaining this reasonable subscription rate, the company can maintain its market position.
Apart from that, the company is also providing a way to open a business account. With a minimum subscription charge, any person can update their product details and have a large number of customers online. Opening a business account is also comes up with a few easy steps so that people with less knowledge of technology also can get the opportunity to earn money on this platform.
The company should also maintain legal issues. All the rules and regulations provided by the government should be kept from the initial level of the business. In the future, the company should also develop several strategies to penetrate the international market. It will pace up the growth of the company. The relaunching chance should be the golden opportunity to penetrate the market again.
Conclusion
To conclude the report, it can be said that the existing strategies of Tik-Tock are robust enough so that it can re-establish its brand value in the market. The information has shown several ways to promote the brand to a greater extent. Like the previous version of this app, the company can gain the same number of consumers in the market. Still, to avoid legal issues, the company also should maintain the deformities from the initial level of the business. At this time, no such risk should be entertained to gain a high rate of followers.
Question- 3
Part-A
Introduction
Due to the continuous mushrooming of the new companies, the Britannia Marie Gold company has been facing several issues. For decades the company has held the leading position in the market because of its best quality of products. Still, nowadays, various companies have popped up and are providing different kinds of products at a reasonable price. The company’s customers are getting confused and intend to try out the new companies. As the customers are getting the same quality-based products at a lower price than the Britannia Marie Gold company, the customers are losing hope in the company. Thus, the report will have a brief discussion about the issues of the company along with the preferable strategies to curb down the trigger of the competition in the market.
Concept and Analysis
While digging into the company’s issues, the main problem has occurred: the less variety of products. According to the company CEO, Devendra Chawla, the variation of the products is lesser than the other company. The company only focuses on the ‘Tea-Time’ segment while the other companies are also showing interest in snack items, beverages, and different sorts of food items. According to him, the company also has to launch several other things so that consumers cannot need to go to the other companies.
Moreover, as the company already has a popularity-based base, the company should also think about their consumers and decrease the rate of their products. The other new companies are giving some goodies with every pack of their food items, the Britannia Marie Gold also provides some goodies with every purchase of their food items. It’s a powerful strategy that never goes into vain because people love to get free items.
Apart from that, the company should also come up with several competition, like- lucky draw or maybe some scratch card facilities so that the consumers get attracted by it and buy the products at a more quantity.
Henceforth, the company should also focus on digitalization and get involved in online retailing. It will help the company go to a wide range of people, and more people can get the chance to have their products on their doorsteps.
Conclusion
To conclude this report, it can be said that by following the strategies mentioned above the company get back its previous position in the market. Apart from that, by using digitalization, the company can come into the race again. Moreover, by adding more product variations, the company can attract more people.
Part- B
Introduction
To get into the continuously changing needs of the consumers and curb the threats of the growing competition, the company needs to have a tightened promotional strategy. It will help the company to reach out to a large number of people. In this report, we will discuss the design of the promotional mix. While getting into the rat race of the market, it is essential to promote the brand first by covering up all the needed details in a brief description.
Concept and Analysis
In this report, we will talk about the needed steps through which the brand can get a new level in the market. In the beginning, the company needs to post its ads on social media platforms so that many people can know about the products and their health benefits. As the brand already comes up with a ‘Healthy and Tasty’ tagline, the company has already gained the brownie points. To take it to a higher level, the company should introduce some real-life stories along with their ads so that the people can know more about the health benefits of the products. Correlating to the present scenario when the people have become more conscious about their health, the company can take this as a golden opportunity and can launch several other food items covering up all the nutritional values.
Moreover, the company should change the face value of their products. They should change the packaging into colorful ones and also add the minute details of the products along with their nutritional values so that consumers can be assured about the originality of the products. It will also help the company to differentiate itself from the other companies in the market.
Apart from that, the company should also come up with paper packaging rather than using plastic materials. It will help the company to promote the plants-good initiative and the company can also add itself to the eco-friendly mission. Thus, the company can attract more people with its environment-friendly strategy.
Conclusion
To conclude the report, it can be said that the company should make the above-mentioned changes as soon as possible to make itself a unique one. Apart from that the company should also give importance to the present scenario and add more nutritional value to their products. It will help the company to maintain its sustainability in the market instead of having good competition.
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