Set in New York, Xerox is an American company that sells print and digital document products and services like photocopiers, fax machines, and laser printers. As of 2021, Xerox offers its services to 160 countries around the globe.
Xerox has also developed several technologies like GUI, mouse, ethernet, and personal computers. Many of these ideas were picked up by Apple and later Microsoft.
How did Xerox come into existence?
Xerox was founded in 1906 as The Haloid Photographic Company in Rochester, New York. The cycle, which made photographic duplicates onto plain, uncoated paper, was developed by Chester Carlson. The item brought such a lot of achievement and fame that Xerox considered buying it.
The organization changed its name to Xerox Corporation in 1961.
Searching for a term to separate its new structure, Haloid instituted the term xerography from two Greek roots signifying “dry composition.“
Haloid changed its name to Haloid Xerox in 1958, and afterward Xerox Corporation in 1961.
Xerox 914
The Xerox 914 was considered “the best single result ever.” The 914, the primary plain paper scanner, was created via Carlson and John H. Dessauerit in 1959. Xerox had nearly $60 million in income.
The specialty of the 914 was its straightforwardness and it would turn into the establishment of Xerox items and UIs. Incomes jumped to more than $500 million by 1965.
Sitting must be avoided near the copier
Although it may seem like an entertaining idea after you have had a tiresome day, to sit on the scanner; sitting on your scanner and pressing the green button can cause issues. Indeed, in 20% of all copiers, fixes are needed because of harm brought about by someone’s backside squeezing the glass.
Wiping data is necessary
Did you realize that 60% of all disposed of hard drives from computerized report frameworks, be they copiers, faxes or MFDs contain information? When you consider any risky data that goes through the normal office on a normal day, the danger is evident.
Thus it is always advisable to try to delete all pictures and records from the system before disposing of your copier.
Color copiers help young dogs
101 Dalmatians
The Haloid Corporation sent 7 shading copiers to Disney in the last part of the 50s. These copiers were utilized in the creation of 101 Dalmatians. Haloid became Xerox, to pay tribute to their best-selling product.
The copyrighted version
Both monochrome and shading copiers exist today. To prevent forging, Xerox shading copiers print a little example of spots to recognize it. That way, specialists can find the source of the duplicate print.
Scanners use toner, which is a combination of plastic granules, rust, shade, and wax. The granules accept a photostatic charge and are drawn to a photosensitive drum. This drum moves pictures to paper. The toner is then fixed to the paper utilizing a warmth cycle. Ink, then again, is set on the paper using little jets which push the fluid in order of pulses.
Speed in the office
Xerox Riso ORPHIS X9050
The world’s quickest printer created for office use is the Riso ORPHIS X9050. This machine is equipped for making more than 150 to 300 duplicates each moment. Before the idea of copying, people needed to depend on the utilization of carbon paper and hand depicting. Chester Carlson’s innovation was revolutionary, changing the view of the business.
Security peril
The principal famous printer, the Xerox 914, won the business world in 1959. If it was released today, Xerox could never move beyond health and security.
Exclusively overusing the gadget could cause overheating, the gadget would generally blast into flames after many copies. The problem was serious enough and hence, Xerox started giving free fire extinguishers along with each copier machine.
The Fax machine
The project had an unappealing name – Long Distance Xerography (LDX). In any case, that is the place where the fax machine was conceived. The LDX had two copiers associated together through the public phone organization. It was presented in 1964.
Laser Printer
Xerox’s First Laser Printer
The universal laser printer emerged from Xerox cages as well. It was developed by Gary Starkweather in 1969 by altering the Xerox 7000 copier. Although, it wasn’t presented until 1976 when IBM devised a similar item.
The PC (Palo Alto Research Center; formerly Xerox PARC)
Xerox Alto
PARC is credited to have coordinated the mouse (created at SRI), graphical UI (GUI), and bitmap illustrations to make the world’s first PC in 1972. The gadget was named Xerox Alto. It was very less marketed, however, and was used at the organization’s workplaces and the US government and military workplaces.
FAQ
Who founded Xerox machine?
Chester Carlson and James Watt were the inventors of the Xerox Copiers.
When was Xerox founded?
Xerox was founded on 18 April, 1906 by Chester Carlson and James Watt.
Sonu Sood known for his remarkable humanitarian works in India for the migrant workers during the Pandemic has left a mark of him in all our hearts. He is an actor, model and film producer. He was born on 30th July 1973 at Moga, Punjab, India. Sonu Sood made his debut as Shaheed Bhagat Singh in 2002 in the movie Shaheed-E-Azam directed by Sukumar Nair.
In 2009, he received the Filmfare award for the best supporting actor for his work in the blockbuster Telugu movie “Arundhati”. A few of his considerable movies in Bollywood are Happy New Year, Shootout at Wadala, Jodhaa Akbar, Simmba and so on.
Sonu Sood helped a lot of stranded people reach home by both road and air. He did this in association with Spicejet. Honouring his deeds Spicejet has dedicated him to an aircraft livery saying “A salute to the saviour Sonu Sood” in a Boeing 737 aircraft.
Sonu Sood started rocking the Endorsement world from the end of the year 2020. Enlisting below the very few yet significant endorsements of Sonu Sood.
It is a rural fintech company under spice digital founded in the year 2000. It provides amenities like Aadhar enabled payments, insurances, cash withdrawals, airtime recharges and mini ATM.
It also provides amenities as a cash collection centre for NBFC/Bank’s customers, representatives and agents. It roped Sonu Sood in December 2020 with the tagline “Spice money toh life bani”.
Dilip Modi founder of spice money states that through spice money they wish to promote self-reliance and entrepreneurship to every remote corner of India. Sonu Sood is elated about this endorsement. He says with Spice Money he’s fulfilling his dreams of making his countrymen socioeconomically independent and self-reliant using technological means.
Shyam Steel
Shyam Steel is a TMT bar producing company leading its kind in India. It was founded in 1953. They basically manufacture Sponge iron, Billets and TMT rebars. It operates all over India from its manufacturing units of West Bengal.
In December 2020 they roped in Sonu Sood as their “Build in Ambassador”. Their program aims at distributing e rickshaws in various parts of India to people who lost their livelihood in the Pandemic. Hence who can be a better goodwill ambassador in such a noble deed other than Sonu Sood? The distribution would be based on several socio-economic parameters.
Lenskart
Lenskart was introduced to the people of India in 2010 by an ex Microsoft techie. In November 2020, during Diwali Sonu Sood was roped by them in a campaign “Blu Wali Diwali”. The tagline of this advertisement was “See the good with Lenskart”.
Oyo
Oyo a hospitality chain of hotels was introduced in India by Ritesh Agarwal in the year 2013. It has leased and franchised hotels, living spaces and homes. Sonu Sood has been an asset honour of this firm since 2019.
In October 2020 he was roped in for a campaign called “Sanitised before your eyes” with the tagline “Pehle Spray fir stay”. This campaign was to ensure the efforts of the company to ensure the safest and most Sanitised experience to win the trust of its customers.
Rohit Kapoor the chief executive officer of Oyo South Asia and India stated that Sonu Sood being the face of this campaign makes them extremely happy as his ideologies and their brand fits perfectly.
ISM EduTech
ISM was launched in India in the year 2010. It helps Indian students to study for a medical degree from abroad. EdTech roped Sonu Sood in September 2020 in a program to help students with high capacities stranded in the pandemic study abroad.
According to them, Sonu Sood is a real-life hero with an objective similar to theirs. He stood up for stranded migrant workers and they aspire to stand up for stranded students hence Sonu Sood would be the best ambassador for this campaign.
Mfine
It is a mobile healthcare platform or an app helping people to reach out to hospitals and medical services virtually. It provides all possible kinds of medical services virtually. It also has a 10-minute facility for doctor consultation. It was founded in 2017.
In September 2020 Mfine roped Sonu Sood for their telemedicine campaign. Being their user himself Sonu Sood was elated about the endorsement. Arjun Choudhary, the chief business officer at Mfine says that Sonu Sood’s work has turned him into a beacon of hope and trust. With his face value, they hope to impact people about the quality medication they provide.
Sonu Sood is a messiah after his work during the pandemic. Whatever he has done is beyond all praises. Hence his assurance as of brands is hoped to be as pure as his intentions.
FAQ
What is the net worth of Sonu Sood?
The net worth of Sonu Sood is $17 million.
What is the profession of Sonu Sood?
Sonu Sood is a Actor, Model, Film Producer, and Humanitarian.
What is the age of Sonu Sood?
Sonu Sood was born on 30 July 1973 and is 48 years old.
The price of a product is in fact the exchange value that we assign for a particular product or a service. It is in fact the only element of marketing that has a direct impact on the income of the company. This is the main reason why our pricing strategies should be accurate and apt because otherwise, the consequences will be disastrous.
The price of a product plays a very important role in the market of commodities and branded products. When we look at the marketing trends over the years we can observe that pricing strategies have taken up a central stage over product, promotion and packaging.
Today all of them are significantly influenced by pricing strategies. This article discusses different types of pricing strategies that companies can adopt depending on the nature and vision of the firm.
This pricing strategy revolves around the idea of keeping your price deliberately low. Here you will be bringing down the price of a product so that it will be chosen more by the customers.
However, one thing that you need to be careful about when you go for economic pricing is to make sure that the position the product will have in the marketplace is already predetermined. It should not create a perception among the consumers that something is being compromised.
Also, be aware that economic pricing can also lead to a situation where your competitors will also do the same and the consumers end up choosing the most convenient one which will leave you in a very disadvantaged situation in case there are better-established products than yours.
Price Skimming is a very common strategy used by the pioneers in the market. This is because they have a great competitive advantage. Here, they raise the price of a product to avail maximum revenue in a short span of time.
Since the customers perceive the value of the product due to the utility it offers and the lack of other options, these products will be sold even at high prices. And as other people and companies enter the market with better products and added features the price of the products as a whole is reduced.
Here there is an immense advantage for the early bird companies because by the time the product’s prices start to reduce, the early one would have already made a significant profit.
Psychological Pricing
It is one of the most common pricing strategies that businesses use to pitch their prices. In this case, the emotional element of customers is tapped to get an ideal response from their side.
They are more prevalent in the consumer market than the industrial market. It is governed by the practical understanding that a consumer is more likely to buy a product if it is priced at Rs. 99 than at Rs. 100.
Another way in which psychological pricing is done by making inconspicuous changes in the product without changing the price. We had a popular chocolate company that kept reducing the thickness of the chocolate bar without increasing the price.
Pricing Variations
This is a strategy used by companies to price their products in a variety of ways – like early booking, group discounts, stand by prices etc. It is done based on the demand for a product during different times or situations. For example, we have the ticket prices of long route private buses arranged in this manner. This method is also known as off-peak pricing.
Product Line Pricing
In this method, goods and services are separated to fit into various cost categories. The goal is to reap maximum profit by appropriating the product to fit into all price ranges and to expand the consumer base.
The products at each level are slightly different in their features and prices. Obviously, the product with the most features will be at the top of the pricing range.
Such a strategy will also enable the customer to choose the product range that fits their needs. This is a very common strategy that we witness when it comes to data plans, antivirus plans, OTT subscriptions etc.
Netflix Plans
Penetration Pricing
It is a very strategic pricing technique where you keep the price of the product really low. It also ensures that competition is checked. Because, if you are entering the market with a very low price, it means that any company that is entering the market later will have to lower their prices further to sustain, which is definitely not a practical option for them.
In a way, this strategy is a deterrent to competition. After a safe consumer base is established, the prices are slowly moved on to a higher end.
Demand Pricing
As the name says, demand pricing is based on the demand for the product. Here the consumer demand pertaining to a product, service or consumer is the major factor that determines its price. It is also known as dynamic pricing.
The perceived value of a product or a service serves as a foundation for such a form of pricing. It is also subjected to change depending on various factors like weather, the season of festivals etc which has a direct effect on the demand.
Cost – Plus Pricing
Cost-plus pricing is one of the most logical ways of setting pricing as far as the cost involved is concerned. Here the price is determined based on the cost of raw materials as well as the cost of production. It is further added with overhead costs and profit margin. It is a definite way to gain profit because as long as your cost and sales are accurately calculated profit is assured.
It is one of the most valued pricing strategies by both customers and producers. Here the quality of the product takes the front seat. They use a higher price but ensure that the product delivered is of premium quality in itself. And building up value is a very important prerequisite of such a form of pricing.
The product is marketed in such a way that it will equip the customer with a plethora of technical characteristics of the purchase to make them feel that the product is worth the money.
In fact, pitching the product is equal to making a buying decision for the buyer so that it is easier for them to say yes. This is because customers tend to equate quality with higher pricing.
The pricing strategies of companies like Apple and Jaguar are clearly based on this notion of premium.
Conclusion
Pricing strategies as mentioned in the beginning is very subjective. It depends on various factors like the nature of your company, your vision, the nature of competitors, the future of the industry in which the product belongs and so on. In some cases, you might have to blend into market requirements to not incur losses.
However, the pricing strategies that consider the cost involved as the most important element of determining prices definitely gives you a sense of assurance. While different strategies have their own pros and cons each business should be able to narrow down to one or a mix of multiple pricing strategies for their own benefits.
FAQ
What factors go into pricing a product?
Pricing your product usually involves considering certain factors, like pinpointing your target customer, tracking how much competitors are charging, and understanding the relationship between quality and price.
What is the best pricing strategy?
Competition-based pricing, Cost-plus pricing, Dynamic pricing, Penetration pricing, and Price skimming are some of the best pricing strategies used by businesses.
How much profit should you make on a product?
As a general rule of thumb, a 10% net profit margin is considered average.
Endorsing products and services on various media platforms have now become an integral part of the marketing process for both company and the celebrity. Many veteran Bollywood actors and actresses are chosen to be the brand ambassador (representatives) for the brand. Juhi Chawla is one such legendary actress that ruled decades in the film industry and is still relevant in the marketing world.
Juhi Chawla is an Indian actress, film producer, and recently an entrepreneur. The actress initially rose to fame when she won the Miss India pageant in 1984. This catapulted her to become one of the top leading actresses in Bollywood during the 1980s to early 2000s. Juhi Chawla is used to be a critically acclaimed actress as she has won awards like the Filmfare multiple times.
Juhi Chawla is known for her work in movies such as Qayamat Se Qayamat Tak, Darr, Ishq, Hum Hain Rahi Pyare Ke, Deewana Mastana, Lootere, My Brother Nikhil, Gulaab Gang, Shaheed Udham Singh, Sukhmani, etc. She is also the co-owner of the Indian Premier League (IPL) Team known as Kolkata Knight Riders with her husband and Shah Rukh Khan.
Along with Shah Rukh Khan, Juhi is the co-founder of the production company called Dreamz Unlimited, which has so far produced over three films including the blockbuster Phir Bhi Dil Hain Hindustani. The actress has been a judge of many reality shows including Jhalak Dikhhla Jaa.
Juhi Chawla is also a part of many charity events and awareness programs. Recently in June 2021, the actress had filed a case against the rolling out of 5G network in India, alleging that the 5G technology would lead to health hazards. The case was later dismissed with The Delhi Court saying that it was unnecessary, scandalous, and frivolous averments with an Rs. 20 lakh fine.
Nevertheless, Juhi remains popular among brands and charges over 40 to 60 lakhs per endorsement deal. The net worth of the actress is estimated to be Rs. 40 crores in 2020. The brands endorsed by Juhi Chawla are Maggi, Pepsi, Kurkure, Rooh Afza, Kelloggs Chocos, Keshking Ayurvedic Oil, Gai Banaspati, Ashoka Pickles, Emami Boroplus, etc.
Maggi is one of the most popular instant noodles brands in India. It is a Swiss brand that is known for its Instant noodles, instant soups, seasonings, bouillon cubes, etc. Maggi was initially founded Julius Maggi from Switzerland in 1884 but was acquired by Nestle S.A. in 1947.
The instant noodles of Maggi are sold in countries like Bangladesh, South Africa, Singapore, Australia, Pakistan, New Zealand, Nepal, Malaysia, and India. Maggi has the most customers for Maggi in India as it earlier had over 90% market share reducing to about 53% following the nationwide ban. Maggi also has 39% market share in Malaysia and is known as Maggi 2-minute noodles in Australia, South Africa, New Zealand and India.
Juhi Chawla became the brand ambassador for the ‘Masala-ae-Magic’ range of Maggi seasonings in 2019. The actress has appeared in many ads for various Maggi products over the years. In the most recent ad Juhi is seen playing the role of a mother teaching her teen son an important message on cooking, which is “it is in your hands how you transform the ordinary to extraordinary” using the Masala-ae-Magic.
In an interview, Juhi mentioned that being a mother, she understands how tough it is to keep children happy with everyday food, made at home. This is why adding Masala-Ae-Magic would go a long way in making ordinary food, extraordinary tasting.
Kurkure
Kurkure is a well-known brand of snacks (corn puffs) that is manufactured and marketed by PepsiCo. Kurkure is manufactured in both India and Pakistan and is often compared to Cheetos which are sold in western countries. Kurkure comes in a wide variety of flavors, out of which the most popular are masala munch, green chutney, chili chataka, tamata hyderabadi, masala twists, etc.
In 2006, Frito Lay planned to start selling kurkure to the American markets, as many Americans had started to show interest in Indian spices. In 2013, the brand also started selling in Canada and is also available in UK. Juhi Chawla was initially made the brand ambassador for Kurkure in 2004. The actress has been the face of the brand for over a decade and has appeared in many ads for the brands.
The ‘Tedha Hai Par Mera Hai’ campaign is so far the most successful campaign for Kurkure and it featured the actress which helped it gain a massive number of views on television and social media. The Kurkure ads with Juhi became so popular because she represented the core values of the brand through her presence, the actress can be seen in many funny and unique Kurkure ads with her cheerful charm.
Rooh Afza is a concentrated squash drink that is popular in countries like India, Pakistan, Bangladesh, and Middle Eastern Countries. The company was founded by Hafiz Abdul Majeed in 1906 in Ghaziabad. Currently, the drink is manufactured by Hafiz Abdul Majeed and his sons through Hamdard Laboratories (a Delhi-based healthcare major) in India, Pakistan and Bangladesh.
The drink was originally created as a herbal mix that would help counter heat strokes and prevent water loss in people especially during the summer. Nowadays, the drink is popularly consumed during the month of Ramadan and is also used cold milk drinks, and cold desserts like Falooda. In 2009, the actress Juhi Chawla was made the brand ambassador for Rooh Afza by the Hamdard laboratories.
The company choose the actress because they wanted to re-energize the appeal of Rooh Afza among the younger target group, and saw Juhi be the perfect fit to convey the brand’s message. The advertisement features Juhi Chawla showcases its tagline Freshness ka Naya Sur, through a skit where Juhi plays the role of mother cheering her family on a hot Sunday afternoon by giving them the drink.
Kelloggs Chocos
Chocos is a leader of breakfast cereal in India, the company is manufactured by Kellogg’s and also sold in European and Middle Eastern countries. The cereal comes in multiple flavors but the most popular one is chocolate. Kellogg is an American multinational food company that has it headquarters based in Battle Creek, Michigan.
The company is known for brands such as Corn flakes, Frosted flakes, Pop Tart, Rice Krispies, Cheeze-It, Pringles, etc that are sold in more than 180 countries around the world. By 2016, Kelloggs became the world’s largest cereal company and the second-largest producer of snacks with sales of $13 billion. The conglomerate made Juhi Chawla the brand ambassador of Chocos in India in 2013.
The actress has appeared in many Kellogg’s Commercials with tagline of “Paushtik khilao, don’t chhupao”. In an interview, the actress mentioned that the Kellogg’s chocos have been a favorite with my children for a number of years now and that is why it feels great to be associated with a brand that they have been consuming for so long. The brand is said to have chosen Juhi because she personifies the mothers that like the brand and her connection with them.
Boroplus is the No 1 skincare cream that belongs to the multinational conglomerate known as the Emami group. Boroplus is an antiseptic cream that is used worldwide, as it can be used for multiple purposes such as winter cream, night cream, moisturizer, dry lips, and cracked heels.
Boroplus all-purpose skin cream that is specially formulated with the breakthrough Nature Shield Complex that is natural, safe, and effective for modern-day skincare needs. Its parent company Emami, is also known for other brands such as Navratna, Zandu, Menthol Plus, Kesh King, Fast Relief, Fair and Handsome.
It has a portfolio of over 250 products that are sold in more than 60 countries. Juhi Chawal was signed as the brand ambassador for Boroplus in 2020 and Kesh King ayurvedic hair oil in the past, both the companies are said to be under Emami. The actress was recently a part of the ad campaign for Boroplus hygiene range of products.
Boroplus recently entered the hygiene space with products like sanitizer, soap bars, and hand washes after the first wave of Covid 19 pandemic. Commenting on the association, Priti Sureka, Emami’s Director, said that they choose Juhi because the actress enjoys an all-pervasive acceptance all over India across age, gender, and geographies.
Kesh King
Kesh King is one of the most trusted and leading ayurvedic hair oil in India that is owned by the FMCG conglomerate Emami Group. Its parent company, Emami Group is an India conglomerate that has a wide variety of 250 products, manufactured in seven firms, and sold in over 5 million retail outlets across the country. The company is known to generate over Rs. 2655 crores in the financial year 2019-20.
Kesh King has built up its brand in the last six years with the help of Juhi as its brand ambassador and her cute smile that has captured the audience’s attention and created a strong brand position in the consumer’s minds. The has appeared in some of its unique ad campaigns but was later replaced with Sania Mirza and Shruti Hassan.
Ashoka is a popular flagship food brand owned by ADF Foods. The brand initially started in the mid-80s and is known for its wide variety of Indian food products such as Frozen Entrees, Rolls and Frozen Vegetables, Ready-to-Eat meals, Chutneys, Pickles, etc. Ashoka targets not only the Indian people but the entire Indian diaspora worldwide.
It is a subsidiary of ADF Foods which is known to have a strong network of over 180 distributors in over 52 countries making it one of the leading ethnic Indian food companies in the world. ADF also sells products from the cuisines of Mexican, Italian, and the even Mediterranean.
Its products are well known in countries of Asia, the Middle East, Australia, America, UK, Canada, Germany, etc. Juhi Chawla was signed as the brand ambassador for the Ashoka Pickles by ADF foods. The actress has also appeared in an ad commercial where she talks about the health benefits of Ashoka Pickles as it is made with Olive oil.
Kissan Ketchup
Kissan is another leading food brand in India known for its sauces, spreads and peanut butter, squash, jam, canned fruits, etc. Kissan is a flagship brand of Hindustan Unilever (HUL) from the late 90s. The company initially began during the British era where farmers in Punjab would sell freshly picked fruits and vegetables.
Now the brand has transformed with a wide portfolio of products, not only that kissan has so far kept farmer’s interests in mind every step of the way. In 2019, 76% of Tomatoes used in Kissan ketchup were from sustainable sources. Juhi Chawla was signed as the brand ambassador for the Kissan Ketchup in 2011 and recently for its creamy spreads.
In the Kissan ketchup ad the actress is seen talking about the Kissan Ketchup which is made up of 100% real tomatoes for kids who are wary of eating raw tomatoes and different vegetables. Not only that the actress has also endorsed the Kissan Creamy spreads through its commercials, which showcased moms not having to ‘butter up’ their kids anymore when it comes to feeding them healthy homemade food.
Conclusion
Juhi was one of the top leading Bollywood actresses in the 90s and early 2000s, this is why the actress still holds a specials place in the hearts of many Indians. The actress has over 1.8 million followers on Instagram and 5.2 million followers on Twitter and uses the platform to endorse brands and even speak out against the problems of society.
Despite not acting in movies anymore the actress is still chosen by many brands to be their brand ambassador and is relevant in the advertising world.
Frequently Asked Questions
Who is Juhi Chawla?
Juhi Chawla is an Indian actress, film producer and an entrepreneur. The actress initially rose to fame when she won the Miss India pageant in 1984.
What are the brands endorsed by Juhi Chawla?
The brands endorsed by Juhi Chawla are Maggie, Pepsi, Kurkure, Roof Afza, Kellogg’s Chocos, Keshking Ayurvedic Oil, Ashoka Pickles, Kissan Creamy spread and ketchup, Emami Bororplus, etc.
What is the net worth of Juhi Chawla?
The net worth of Juhi Chawla is estimated to be Rs. 40 crores in 2020.
How much does Juhi Chawla charge for endorsements?
Juhi Chawla charges over 40 to 60 lakhs per endorsement deal.
Billing and invoicing are the ultimate stages of closing a transaction in a deal. An invoice is a commercial document that itemizes and records a transaction between a buyer and a seller. Now creating an invoice can be very time-consuming, as one has to write down one’s information and the client’s information, set the currency, indicate the date of the invoice, etc. One needs to make sure that the client’s bills are accurate and generated quickly which again takes a lot of time. So, the process is too lengthy and now to reduce the work, comes the use of the best tool. If you hate invoicing or want to automate the accounting of your business. Then, below we’ve listed the best GST software for billing & accounting to choose from.
Zoho Invoice is an invoicing and online billing software. It is also one of the bestfree billing software in India. This helps businesses to send automated payment reminders to customers. With Zoho you can create invoices, perform faster payments, and manage projects. Look at the Zoho Product Review.
Templates In Zoho Invoice
Features of Zoho Invoice:
Customize Your Invoice Template – This provides you with fully customizable templates. You can extend the brand from the website to invoices for a professional image.
Invoice In Multiple Currencies – Zoho Invoice supports multi-currency. You can bill the customers in the right currency.
Communicate In The Customer’s Language – It supports 10+ languages. You can Invoice customers in their language for effective communication.
Schedule Invoices – Zoho helps you in scheduling invoices and automatically sends it to customers on your chosen date.
Customize Invoice Field – You can add more information on invoices with 30+ custom fields.
Automate with workflows – You can set workflows and get things done automatically. An invoice is created for an amount of more than $1000. Set up a workflow to receive an email.
ProfitBooks is a popular GST accounting software in India. It is a simple and spontaneous accounting software built for growing businesses. This platform has managed to get several businesses.
Manage Your Money With ProfitBooks – Best GST Billing Software
Using ProfitBooks, you will get to create Invoices, track inventory, manage taxes, and many more. This tool has matured over time and now has a lot of GST-compliant features.
QuickBooks is a cloud-based accounting solution. This helps to manage expenses, invoices, projects, and more for small to large businesses. It provides a centralized dashboard that enables us to gain insights.
QuickBooks offers administrations to assign tasks to sales representatives. You can grand access to specific customers and collaborate on projects with the team.
Dashboard Of QuickBooks – Best GST Billing Software
Users get to capture digital copies of receipts and sort transactions in the tax category. It helps the managers create custom estimates, maintain recurring payments. And export the generated reports to several formats.
Features of QuickBooks:
Sales overview – This tool has a sales overview page where you will see your income over time. Also, you can quickly access sales shortcuts.
Estimates – You can create estimates and convert them into invoices that are now easy. You can send estimates using email in a form of documents. However, there is no separate estimate tab. This is something that makes it difficult to view past estimates.
Client Portal – It does offer a client portal.This is only for invoices, not for estimates. Users can view, print, save, pay, or ask queries.
Bank Reconciliation – You can reconcile bank accounts in QuickBooks and manage a reconciliation report.
Accounts Payable – With the plans, you can enter and sort bills easily. Users can create recurring bills. There is a vendor dashboard that shows the total purchase orders, open, overdue, and recently paid bills.
Checks – You can order and print checks directly from the tool itself.
QuickBook Pricing Plans
Plans
Pricing
Simple Start
$25/Month
Essential
$40/Month
Plus
$70/Month
Advanced
$150/Month
FreshBooks
FreshBooks is the biggest name for the invoicing and accounting scene. This was created by Mike McDerment. This tool is supporting over 10 million customers. The company is constantly updating its platform by adding more features. Such as adding user permissions, increasing the number of integrations, and improving navigational issues.
FreshBooks Invoicing – Best GST Billing Software
FreshBooks has stepped out and joined the leagues with other accounting competitors like QuickBooks Online and Wave. FreshBooks is easy to use and has the best customer support. It has a few programs that allow built-in proposals. This software can be good for small businesses.
Tally ERP 9 is an accounting tool that offers tools to businesses in managing their finances. It can manage many companies in one record. And offer a multi-billing format depending on the service it has. It also supervises the cash flow of business by monitoring payables and receivables.
Popular Topics For Tally ERP 9 – Best GST Billing Software
This provides details of bill payments and records purchases. It also offers you to create customized invoices. The dashboard displays business ratios, while users can access financial reports. It also provides features such as inventory management and HR module.
Vyapar is a GST billing software. This offers modules for accounting and inventory management for small businesses. This helps you generate GST compliant bills and sharing with customers. It saves bills in the system for future accounting needs. Vyapar helps the GST format bill and invoice to choose from.
It also contains a tally accounting software format. Vyapar keeps track of stock status in real-time. You can also track inventory quantity and calculate its value with information.
Features of Vyapar:
Quotation – you can generate quotation estimates using this software. You will get to fill your requirements and generate a quote for items. This helps you to convert the estimated need to bills. It makes your business more professional.
Order tracking – you can generate and track the sales or purchase orders. This software allows multiple GST sales and purchase order formats. Your business becomes adaptable to the changing vendors.
Accounting – you can take full control of the expenditures of the business. You can build a balance sheet to check the efficiency of your business. This software offers you to trace every bill of your business. It records every sale and purchase. It produces tax statements for your transactions.
Proof of delivery – This software produces delivery challans and affixes with consignments. It uses delivery challan to generate bills and allows to share among customers and vendors. It supervises acknowledgment documents and checks reviews of customers.
Vyapar Pricing Plans –
Plans
Pricing
Mobile Basic
Rs.599/- For 15 Months
Mobile Saver
Rs.1399/- For 3 years
Desktop Basic
Rs.1999/-For 15 Months
Desktop Basic Plus
Rs.2499/- For 21 Months
Desktop Saver
Rs.3999/- For 42 Months
Desktop Lifetime
Rs.9999/- For 30 Years
Invoicely
Invoicely is a cloud-based invoicing solution for small businesses and freelancers. This tool provides a free plan that offers unlimited invoices. There are already 100,000 customers using this software.
Invoicely Dashboard – Best GST Billing Software
It brings all the basic functions expected of billing and invoicing. Such as invoice creation, reminders, managing of business accounts, and payment schedules. This software provides easy navigation and operation.
Features of Invoicely –
Most of the free plans usually have limitations to send and receive invoices. But not in Invoicely. Its paid plans are priced are reasonable for more features.
This app is easy to use. There is no need to set up. Start by creating an account, add information, assign a URL, and select payment gateway.
The software qualitiesapart from streamlining and billing are to get you paidon time. It gives easy navigation and robust features that translate productivity and efficiency.
UI buttons for invoices, dashboards, reports, bills, and settings. This gives you convenient control and view of tasks.
Sleek bill is one of the best GST billing software in India. It is helpful billing software that created invoices. This tool is specially designed for the Indian market. With the sleek interface, you can create and design invoices. It also offers advanced billing features with GST integrations.
This tool can do GST calculations and backup the data also. The sleek bill will save you time and adapt to the user’s needs. Generate detailed reports and print invoices. This is compatible with small, medium, and large businesses.
Features of Sleek Bill:
Sleek bill helps you with the design of a document that is not provided by any other software
The customer’s trust can be boosted with the easy to read invoice templates
You can create unlimited purchase orders that can be converted to bills when needed
You can also make GST compliant invoices, bill of supply, quote, and much more
It provides you smart filters that provide you detailed reports, payment history, and more
You can also store your data safely in your PC. It provides backup and restores features also
Sleek Bill Pricing Plan –
Plans
Pricing
Free Plan
Free
Offline Premium
INR 1,999
Offline Premium + Inventory
INR 3,199
Online Premium
INR 1,999
ClearTax
ClearTax is one of the largest tax and financial services software platforms for individuals in India. The software is a big help for tax experts, SMEs, and enterprises with income tax returns. Furthermore, it is also effective while filing GST, e-Invoicing, billing, and more.
ClearTax serves as connected finances for the Indian taxpayers. The mission of the company is to simplify finances and save money and time for tens of thousands of Indian businesses, businessmen, and other people.
Features of ClearTax:
Powered by cloud-computing
Multiple accounts can be integrated easily
Invoices can be checked automatically
Delivers accurate rates
Offers the option to create a master database
Helps in easily adding and editing GSTIN
Offers the option to add the company’s logo
ClearTax Pricing Plans –
ClearTax offers two separate kinds of pricing plans for individuals and self-employed or professionals. Here they are:
Individuals:
Plans
Pricing
Salary/House Rent Income
Rs 799
Salary/House Rent Income (Premium)
Rs 1499
Capital Gains Income
Rs 2999
Foreign Income
Rs 4999
Self-Employed and Professionals:
Plans
Pricing
Professionals and Freelancers
Rs 2999
Security Traders
Rs 6999
Business
Rs 6999
Gen GST
Gen GST software is a complete GST solution, designed and developed both for desktop and online purposes by SAG Infotech Private Limited. The software helps in filling unlimited returns for unlimited clients.
Gen GST can be downloaded by anyone for free or they might also choose to use the GST SaaS service and work on the cloud-powered platform, which is accessible anytime anywhere and provides assistance for GST billing, e-filing & E-way bill purposes to small businesses, and other individuals in India without any hassles.
Features of Gen GST:
Offers integrated e-invoices.
Available for desktop as well as online users.
Updated with the all-new QRMP scheme feature.
Generates invoices for regular and RCM (Reverse Charge Mechanism) dealers.
Needs just a single click for the users to pay taxes online.
Allows unlimited client e-filing with DSC/EVC (GSTR 1, 3B, 4, 9, 9A, 9c, and more).
Helps in easy generation of GST E-Way bill.
Gen GST Pricing Plans
Product
Installation Pricing
Updation Pricing Annually
Gen GST Desktop Software for E-filing
Rs 5000
Rs 2000
Gen GST Combo (Desktop) for E-Filing, E-Invoicing & E-waybill
Busy Accounting software is one of the most effective and powerful solutions available in the market for businesses to manage their accounting, inventory, GST billing, e-invoicing, e-way billing requirements, and more!
Features of Busy:
Simple and convenient to use.
Flexible and designed to suit diverse business needs.
Scalable as per the requirements of the business.
Offers in-built GSP features like auto e-way bill, GSTR-2A, E-Invoicing, and more.
Offers advanced inventory management.
Brings in invoicing solutions that are completely configurable.
Also offers an interactive mobile app.
Busy Accounting Pricing Plan:
Plans
Pricing
Basic to Standard
Rs 7434
Basic
Rs 10620
Standard
Rs 15930
Busy Infotech Multiuser
Rs 33453
MARG GST Software
Marg GST software offers a complete GST solution from billing to return filing. This software helps the users create full invoices in GST format and manage all their finances even if they are devoid of deep accounting knowledge. Therefore, with the Marg GST software, both the individuals and the company can reduce the burden of taxes and compliance and continue focusing on running the business.
Features of MARG GST Software:
Faster GST invoices and billing experience
Effective accounting experience
Offers faster e-invoicing
Generates e-way bills without hassles
Helps in internal audit
Helps in online banking
Simplifies digital payments
MARG GST Software Pricing Plans:
India and Southeast Asia –
Plans
Pricing
Basic Edition
Rs 8,100
Silver Edition
Rs 12,600
Gold Edition
Rs 25,200
Other Countries –
Plans
Pricing
Basic Edition
$350
Silver Edition
$600
Gold Edition
$1150
Go GST
Go GST is billed as an easy, online, and free lifetime GST software for businesses and individuals. Specially designed for the Indian markets, Go GST is updated with the latest GST changes of the country.
Features of Go GST:
Compliant with the new GST rules and regulations
Offers a single-click way to create unlimited products and manage all stocks
Offers easy interface to create GST-compliant quotations and proforma invoice
Brings in a range of templates and professional designs to create credit and debit notes
Recording and tracking of payments made easy with Go GST
Offers easy ways to create staff accounts with limited permission
Go GST Pricing Plans:
Go GST has two pricing plans –
Lifetime Free Plan – This is free for a lifetime, as true as it sounds.
Premium Plan – The Premium Plan of Go GST involves a yearly subscription of Rs 1499, inclusive of GST.
Easy GST
One of the best billing, accounting, and tax management software in India, Easy GST is GST-ready free accounting software that can help users manage their accounting, inventory, payroll, billing needs, and more. Easy GST software is known for the powerful and easy-to-use accounting features to suit the needs of the users and get complete control of their financials.
Features of Easy GST –
Helps to create invoices without worries
Offers effective ways to file GST returns easily
Supervises the workforce for Human Resource Management (HRM) solutions
Supports international traditional with accurate forex conversions
Helps in managing sales-related work empowering Customer Relationship Management (CRM)
Enables the users to handle projects separately
Easy GST Pricing Plans –
Plans
Pricing
Starter
Rs 944
Intermediate
Rs 1180
Professional
Rs 1416
1 to 25 Companies
Rs 5900
GSTrobo
GSTrobo emerges as one of the best solutions for technological challenges making GST e-invoice creation, return filing, comparison reports, reconciliation, ledger balances, tax payments a breeze. The web platform of GSTrobo helps the taxpayers to start with GST-compliant e-filing even with little or no knowledge with the help of a quick, secure, and user-friendly platform that it offers.
GSTrobo Features:
Makes 100% GST-compliant invoicing possible
Offers smart reporting with interactive dashboard and MIS tools
Offers cloud support
Enables easy e-way billing operations with ERP integration and the help of a powerful mobile app
Brings in easy operations with the help of customized data exchange formats via a mapping tool.
Offers advanced ITC Reconciliation Tool
GSTrobo Pricing Plans –
GSTrobo offers their invoicing software that is available for multiple users at Rs 3,000 per year.
If you are looking for easy and powerful GST billing software, then Billing Software India is your answer. It is one of the most powerful software that facilitates easy GST billing options for small businesses, wholesalers, retailers, service providers, and other individuals.
Billing Software India Features:
Offers effective offline desktop application
Makes printing multi-sized invoices easier
Comes with a barcode scanner for quick billing
Makes invoice generation easy with a single click
Helps create GST-compliant tax invoices
Helps managing client accounts a breeze
Billing Software India Pricing Plans –
Free Edition – Billing Software India comes in a free edition that you can use but that will not comes with an android app nor with some of the advanced features that you might require from time to time.
Business Edition – The business edition of the software is a premium edition that comes for Rs 8,000 and which is available at Rs 4,000 on a limited period offer.
How to find the Best GST Billing Software?
As every business is different. Everyone has different expectations from the accounting software. But you should check the given points:
If the software includes required payroll needs
Does the system track available stock, orders, work in progress, and other tasks
Check whether there is an option to manage more than one bank account
There should also be a system to keep records of various departments under one unit
The system should provide you an online platform for different activities such as verifying records and online payments
If the system manages the record of what customers buy, how much and the tax charged, etc.
FAQs on GST Billing Software
Which software is best for GST billing?
Compiled list of 8 Best GST Billing Software –
Zoho Invoice
ProfitBooks
QuickBooks
FreshBooks
Tally ERP 9
Vyapar
Invoicely
Sleek Bill
Is there any free GST billing software?
Free GST Billing Software are –
Invoicely
Sleek Bill
Zoho Invoice (Free Trial)
Vyapar Mobile App (Basic Version)
Tally ERP 9 (Free Trial) etc.,
Conclusion
Having a business was never an easy task in India. But because of GST, you can start a new business very easily. You don’t need to apply taxes on total value but on just added value. This process gets easier with GST billing software. The businesses with GST registered need to provide GST compliant invoices to the clients.
There is various software available to get all functionalities. You can find several GST billing software free versions online. It all depends on your budget to decide which software will suit your business.
D’Mart is an Indian chain of hypermarkets established by DMart owner Radhakishan Damani on May 15, 2002. DMart has 214 stores in 72 cities across 11 states in India including Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital Region, Tamil Nadu, Karnataka, Uttar Pradesh, Daman, and Punjab. So, let’s get started with the D’mart case study.
Mumbai headquartered DMart is owned and operated by Avenue Supermarts Ltd. (ASL). After the IPO posting (as Avenue Supermarts Ltd.), it made a record opening on the National Stock Exchange(NSE). DMart’s valuation rose to ₹39,988 crore after the close of the stock on 22 March 2017. This made DMart the 65th most significant Indian firm, followed by Britannia Industries, Marico, and Bank of Baroda. As of 21 November 2019, the market capitalization of DMart was around ₹114,000 crore, taking it on 33rd position of all recorded organizations on the Bombay Stock Exchange.
This article will shed insights on the supply chain model of DMart, its business model, marketing strategies, How DMart was started, key financial highlights of DMart, growth and future of DMart in India & more.
Avenue E-Commerce Limited, Avenue Food Plaza Private Limited
Parent Company
Avenue Supermarts Limited
Foundation of DMart & Why DMart is Successful?
Unlike Flipkart was established by two 25-year old youngsters toward the beginning of their professions, DMart’s establishing story couldn’t have been more extraordinary as DMart was established in 2002 by a then-45-year-old Radhakishan Damani at a moment that he’d effectively made his millions. When he established DMart, Damani was an incredible name in Indian securities exchanges. He had already got a few worth stocks that surpassed Gillette and HDFC Bank’s valuations.
Damani, who dropped out of a trade degree after the primary year, had first joined his dad’s metal rollers business, yet had begun putting resources into stocks when he was 32. He wound up getting to be one of the greatest stock financial specialists of the 90s, and current securities exchange bull Rakesh Jhunjhunwala believes him to be a tutor. In any case, after an effective financial exchange profession putting resources into shopper confronting organizations, Damani chose to begin his own.
On May 15, 2002, Damani established grocery store chain DMart and embraced techniques that were one of a kind to Indian retail. Up to that point, most retail chains rented their stores, yet DMart picked carefully do its exploration and possessed its very own stores by and large. That technique appears to have worked as DMart has never needed to close down a store since it’s opened in every one of the long periods of its activity.
While other retail players forayed into different classifications, including hardware and design, DMart stayed focussed on its center sustenance and basic food item business. What’s more, when other store chains are on the whole propelling their very own private brands in an offer to improve edges, DMart still stocks just outsider items.
It’s this moderate methodology that has worked for DMart. Other retail chains were picking development, yet for the initial 15 years, Dmart just worked its stores in 4 states. Indeed, even today, the company has 214 stores in 72 cities across 11 states. DMart had a benefit to-deals proportion of 3.7%.
In correlation, other significant Indian retailers don’t passage very also Future Group has a benefit to deals proportion of 0.21%, Spencer’s Retail had a negative benefit to deals proportion of – 8.9%, and Reliance Retailwhich works high-edge classifications including hardware and adornments and has more than double the incomes of DMart just dealt with a benefit to deals proportion of 1.6%.
DMart’s traditionalist yet beneficial approach is by all accounts demonstrated after its author. Damani is famously media-bashful and gives no meetings. He’s said to be modest, all things considered, also he doesn’t appear to talk much, yet is evidently a decent audience, engrossing a lot of data rapidly, and afterward following up on it.
Founder of DMart – Radhakishan Damani
And keeping in mind that Damani’s success has made him hugely rich because of the flood in DMart’s stock value, he’s currently worth $15.5 Billion (over Rs 116,200 Crores) regardless he wears a white shirt and white jeans to work, the dress he’s been wearing since the 80s. Despite everything, he goes for night strolls on Girgaum Chowpatty in Mumbai and unconditionally converses with the outsiders who approach him after his Dmart’s open achievement.
The ultimate start with DMart needs to make a picture among the majority of a rebate store that offers the vast majority of the items from over every single real brand. Fundamentally, a store that offers an incentive for cash! Presently, since individuals for the most part come to DMart on the grounds that they all what they need under one rooftop; consequently, DMart stores are operational in high rush hour gridlock territories and crosswise over three organizations including Hypermarkets that are spread crosswise over 30,000-35,000 sqft, Express group, that is spread more than 7,000-10,000 sqft and in conclusion, the SuperCenters, that are set up at more than 1 lakh sqft.
What’s more, Dmart’s intended interest group being the center pay gathering, it uses Discount offers as a special instrument for baiting the clients and expanding deals too. Generally speaking – Dmart’s prosperity is centered around three things: Customers, Vendors, and Employees! Take Customers. Since Dmart is focusing on center salary family units, every one of their stores is in, or near, neighborhoods and not in shopping centers.
Their thought isn’t to meet each customer’s need like different contenders, yet rather, Dmart tries to meet most normal shopper needs, while offering some benefit for their cash. Furthermore, since, 90% of these stores are possessed legitimately by Dmart, they don’t need to stress over month-to-month rentals and their ascent, or migration chance. Moreover, this is helping them manufacture resources on their books.
This likewise keeps Dmart all around promoted and obligation light, while its tasks produce extra money. All the cash that is spared utilizing this procedure is at the end offered back to the clients as limits! Sellers! Seller connections are the second mainstay of their model. Since he originates from a dealer foundation, his seller connections have been his greatest quality.
Organization Structure of DMart
The FMCG business has an installment standard of 12-21 days, however, Dmart pays its sellers on the eleventh day itself. This causes him to remain in the great books of the merchants and dodges stockouts. Furthermore, since Dmart purchases in mass and pays its sellers well in time, they additionally get the chance to win higher edges. Essentially, their procedure is to “Get it low, Stack it high and sell it shabby”!Workers!This is the third mainstay of their model. DMart offers great cash, adaptability, strengthening, and loose and effective work culture.
They even proceed to employ tenth standard dropouts with the correct frame of mind and duty. They incline toward procuring crude ability and afterward put intensely in preparing, to shape them according to their prerequisite. Representatives are simply educated once concerning the worth framework and arrangements at D-Mart and after that are enabled by giving them the opportunity to work without someone continually investigating their shoulders. There is outright lucidity on what should be accomplished, yet you don’t have to dread targets.
DMart – Business Model & Supply chain Model
The business model lies at the core of a successful company. A good, foolproof business model not only acts as a pillar for a business to grow but also helps it prosper in a comparatively less amount of time.
DMart, often termed as the Walmart of India, has been quite successful in its business so far, and a major credit goes to the robust business model it has developed over the years.
The chain of DMart operates on a B2C (Business to Consumer) model in which the company sells its goods from the manufacturer’s house to that of the end-user. DMart sells a wide range of products ranging from home care and personal care to grocery and staples, daily essentials, home appliances, footwear, luggage, fruits and vegetables, men’s and women’s apparel, and more. These goods, as we all know, fulfill our everyday needs, and hence, have a significant demand throughout the year. Therefore, they wipe out the possibilities of fluctuations due to high demand and helps the brand get the stability that many others dream about.
DMart is recognized for its thrifty cost structure that has made the company keep its losses under control. Here are some prominent characteristics of DMart’s business model:
Low operational costs and fewer expenses
DMart believes in the effective utilization of the spaces instead of adorning its interiors and shelves fancifully. The company works in launching more and more products in fewer spaces for the customers to choose from, which can also be summed up as a low-interior-cost concept to reduce the operational costs. Besides, when you walk into a DMart store you would also find lesser billing counters, which further works in reducing employee costs.
Ownership model
Damani, the company’s founder, had decided quite early in the game to adopt a store-ownership model. This played a major part in making DMart a low or no debt company, thereby strengthening it financially. Furthermore, the company doesn’t accrue any rental costs, which helps DMart open more stores and gain high positive cash flows. The company owns around 80% of all the stores that it is credited for.
Affordable rates of products
It is usually observed that in the FMCG sector, the retailers pay off the credit to their vendors within a period of 3 weeks whereas DMart pays off their credit within a week. This helps the company benefit in many ways including the huge discounts that they get from the vendors, which in turn is entirely rewarding for the end-users too.
Affordable rate of products with tons of discounts on various products leads to increasing the overall footfall and spike up the sales volume. This increasing sale also helps the manufacturers to rely on the brand and bring in more stocks for the rising demand, which extends another volume discount from the manufacturers’ end.
DMart levies a ‘Slotting Fee’. As the term might indicate, it is a fee that DMart charges from the manufacturers to store their products on the shelves of DMart stores, which is also sometimes referred to as an entry fee. DMart, on the other hand, with its appealing marketing strategies and attractive discounts ensures that the products are sold out as quickly as possible.
Sales channel
As discussed earlier, DMart opts for a B2C (Business to Consumer) business model, where the company sells the products directly from manufacturers to the end-consumer. The company purchases its goods in bulk and this eliminates the middleman (distributors and wholesalers) from the chain, which helps in passing their commissions as discounts to the consumers.
Target customers
DMart’s target customers are the middle-class groups and lower-middle-class groups, those who often want to buy low-cost goods that come with hefty discounts but are of good quality. This makes DMart attract an extensive customer base than many other retailers.
Regional Goods
A land of diversity, India nurtures an array of region-specific goods. This gave DMart an amazing opportunity to capture the niche markets with products specific to different regions. DMart researches the popular local brands of a particular region and makes them available, thereby avoiding people’s need to go to the local Kirana stores. This has helped DMart to gain more market share.
Operating strategy
Contrary to their peers and rivals, DMart has always stuck to their own stores and deliberately avoided the malls, which might have otherwise risked the overall sales of the company and increased the expenditure.
Besides, the company is also not very comfortable expanding geographically. The company had its stores only in 4 Indian states until 2014, which only expanded in recent years to 11 states. One another thing is that DMart attracts low marketing costs because the main marketing strategy of DMart is that the company is recognized among its end-users via “word of mouth”.
DMart is a company that doesn’t believe in marketing aggressively unlike many of its competitors. The company maintains a marketing mix where its Unique Selling Position (USP) lies in offering the products at less than Maximum Retail Price (MRP). This is the most important factor that contributes to keeping the company ahead of its peers.
DMart is a company that takes pride in the laudable CSR initiatives that it takes. Over the years, the company has grown to be a huge support for its employees and other communities alike with the help of its socially responsible business practices. This undoubtedly spreads positive vibes all around.
In its “Better School, Bright Futures!” campaign, DMart has launched an amazing program in various schools that are there in and around Mumbai. The sole aim of which helps students understand things better and create an ecosystem that allows them to benefit from better education, mentoring research facilities, and new networking opportunities.
Embracing Low-Cost Advertising Mediums for Promotion
DMart looks up to visual and print mediums to promote its brand name and products. The print medium of advertising revolves around newspaper ads with information about their products, discounts, sales, and coupons.
On the other hand, the visual component of advertisement comprises the banners, flexes, and hoardings that are put to display in locations near the stores to mention the product-specific offers, seasonal discounts, and other freebies that the company offers from time to time.
Digital Presence of DMart
DMart was founded back in 2002 and boasts of an enviable offline presence but when it comes to digital presence it bothered little about it to be true. However, the company has taken a few steps to place it ahead on the digital front. These steps include the installation of a chatbot on Facebook Messenger and the launch DMart Ready.
As of now, DMart uses Facebook as a medium for information, which the brand uses to inform and clear customers’ doubts. The company is yet to explore Instagram and Twitter fully, the proper utilization in the upcoming times will surely help the company set itself more stable in the future.
DMart marketing
Factors Affecting the Profit of DMart
Damani is a calm man who stays under the radar, yet his triumphant characteristics are too obvious to possibly be missed. The following are his ways to deal with a business that drove him to thundering achievement:
Design of Logo
Like Warren Buffett, Damani too has been a worth speculator who might take a shrewd perspective on the long haul. When he turned into a business person, he held a similar methodology and manufactured DMart without depending on any speedy alternate ways. For example, he never rents the property for his stores however gets it. In the long haul, it spares him from a major rental outgo. This was a key factor behind the productivity of DMart.
What Is Trifle That’s Important
Damani began little and did not rush to grow. Low scale gave him superior control of the store network and enabled him to concentrate on benefits directly from the earliest starting point. In the 18 years of its reality, D Mart has turned a benefit every year.
Evaluation Of People
Damani started with purchasing an establishment of Apna Bazar. That was the point at which he started fabricating individual relations with merchants and providers. He esteems both and they never let him down. The stores never leave stock.
Selling As Cheap
Damani realized what he was doing: offering individuals buyer results of everyday use at substantial limits. That turned into his sole objective. One of his strategies was to pay his providers and sellers inside days rather than weeks which was the business standard. They gave the merchandise at a less expensive rate to him in lieu of early installment. He passed on the money-saving advantages to his clients, which guaranteed steady success.
Go Steady And Slow
In spite of the fact that D-Mart began 18 years prior, despite everything it has 119 stores in a couple of states, a modest number contrasted with those claimed by Ambani and Biyani. Rather than fast development, Damani received a moderate pace which gave him his emphasis on productivity. That is the reason D-Mart has not closed a solitary store since it began and creates higher per-store incomes than the stores of Ambani or Biyani.
Neglect the Herd
Damani had learned and drilled with the progress the craft of not following the crowd while he was a financial specialist. As a business person, he has a similar methodology. There have been such a large number of brand new thoughts in retail, for example, different online business patterns, which he didn’t give any significance. Designs or patterns can’t impact the man who realizes what he needs and how he can get it.
Available Locally
Despite the fact that DMart is the best basic food item retail chain in the nation, Damani has restricted it towards the western states. One reason is his dependence on neighborhood supplies rather than expand supply chains.
A Job Has Conversation
Damani stays under the radar which bears him all-out devotion to his work. His moderate and quiet ascent in a discouraged division is a sign of his resolute spotlight on work. He has once in a while given a meeting to a TV channel or a paper.
Avenue Supermarts running the DMart chain of stores in the nation revealed a 21.4 % year-on-year net benefit development and a 32.1 % year-on-year income development for the quarter finished March 31, 2019, (Q4) at Rs 203 crore and Rs 5,033 crore, separately.
For the three months finished December 31, 2018, DMart had announced its slowest net benefit development in eight quarters at 2.1 % as it pondered developing challenges in basic food item retail.
Second from last quarter income development came in at 33 % (year-on-year), which is likewise a merry quarter, said experts, suggesting the organization had figured out how to keep up its pace of development as far as the top line in Q4 in the midst of focused power. The numbers were comprehensively in accordance with Street gauges. A survey by investigators of Bloomberg had pegged net benefit at Rs 211 crore and income at Rs 5,122 crore for the quarter under audit.
Income before intrigue, duty, deterioration, and amortization (Ebitda) for Q4 was at Rs 377 crore, up 27.9 % throughout the year-prior period and again extensively in accordance with Street assessments of Rs 395 crore. Yet, Ebitda edges contracted for the third straight quarter, however, the drop was negligible at 20 premise focuses to 7.5 % from a year sooner.
This is additionally the most reduced as far as Ebitda edges for DMart in 75%. While the organization did not indicate same-store deals development for Q4, examiners said it was somewhere in the range of 15 and 18 % for the period under audit.
Same-store deals development is the development of a similar deal of stores for one year or more. For the entire year finished March 31, 2019, (FY19), Neville Noronha, overseeing executive (MD) and (CEO), Avenue Supermarts, said same-store deals development was 17.8 % even as income grew 32 % year-on-year to Rs 19,916 crore and net benefit went up 19 % from a year sooner to Rs 936 crore.
The FY19 same-store deals development was higher than the 14.2 % revealed for FY18, division examiners stated, as the firm drove higher deals throughput at its stores. Income from deals per square feet at DMart stores remained at Rs 35,647 for FY19 against Rs 32,719 in FY18, an ascent of about 9 %. The organization additionally included 21 stores in FY19, of which 12 were included in Q4 alone, taking the aggregate to 176 for the monetary year.
Avenue Supermarts runs the DMart grocery store chain of stores. If in any case, the nation experiences a crisis, financial specialists question whether the organization shows enough strength during these intense occasions. But examiners in a note from Systematix Shares and Stocks (India) Ltd. said, ” The continuous crisis in utilization and higher aggressive force in staple retail should confine development in determining deals per square feet to 7% in the financial year 2020 from 13% in FY19.”
While speculators will intently follow how that works out in the coming quarters, Avenue Supermarts’ income development of almost 27% in the June quarter is nothing to get surprised at. Obviously, it should likewise be referenced at the same time that high development rates are a basic for the DMart share, which is one of the most costly stocks in the nation.
It currently exchanges at amazing multiple times evaluated income for FY20. FY20 has begun an idealistic note for the organization. The development in EBITDA (income before premium, assessment, deterioration, and amortization) edge in the June quarter will mitigate financial specialists’ uneasiness about weights on productivity somewhat.
FAQs
What is Dmart?
Founded in 2002, Dmart is an Indian retail corporation that is designed to stand as a one-stop supermarket chain that brings a wide range of products ranging from basic home products, personal products and more.
Where is the Dmart headquarters?
DMart headquarters is in Mumbai, Maharashtra.
Who founded Dmart?
Radhakishan Damani and his family founded Dmart in 2002.
Where was the first branch of D mart?
The first branch of D mart is in Powai’s Hiranandani Gardens.
What is the vision and mission of Dmart?
The mission and vision of DMart is “to provide the best possible value for consumers so that every penny spends on shopping gives them more value for money than they would get anywhere else,” as per the vision and mission statement of Dmart.
How many D mart stores in India are there in total?
Currently, the total number of D mart stores in India were reported to be more than 234 in number, spread across more than 11 states in India, as per February 2022’s reports.
Coworking space is a business for some people and a home to many startups!
Mr. Kushal Bhargava, the Co-Founder of MyBranch sheds some light on the Co-working Industry in India during pandemic times and also shares the interesting startup story of MyBranch in this article. From finding locations, to assisting with documentation, to handling essentials and daily administration, MyBranch takes care of it all! In terms of managing and maintaining workspaces, MyBranch serves as a one-stop shop for all business needs.
To begin, a little background information about Mr. Kushal – He is a qualified Chartered Accountant and holds a master’s in commerce degree from Mumbai University. He is also an active member of the Student’s Committee of WIRC (Western India Regional Chapter) of ICAI. He started managing a pan-India BFSI business after completing his education. An innovative and strategic thinker, Kushal sets the vision for MyBranch and supports its operations team with delivery. He also assists in developing the business and forges ties with companies. In addition, he oversees MyBranch’s ancillary businesses – Meeting Rooms, Virtual Offices, and Managed Offices.
1.What were the major challenges in terms of co-working operations during and post lockdown?
The entire country came to a standstill during the lockdown. We were no different, even though the existing clientele at the time did not decline, the offices were left vacant during the entire lockdown period. Also, when the lockdown was lifted, several restrictions were in place, most of our clients who had expansion plans became reluctant and took a step back.
2. How did MyBranch tackle it efficiently? What were the measures taken?
Not just our country, Covid has impacted the entire world at an unprecedented level. The pandemic laid an impact on business and overall operations up to a great extent. However, still, MyBranch was quick to respond in a strategic manner. During the lockdown, we gave utmost importance to brand building activities because it was supposed to be managed from the ease of our homes. We also planned supporting activities and drills for our customers. We were fortunate to not lose even a single enterprise client due to Lockdown. We maintained constant touch with all our clients and kept them informed about the new and updated office protocol. Also, we strictly followed all Covid-19 guidelines at our offices across India, as a result almost 80% of our clients started working from our offices just within two months of unlocking.
MyBranch Coworking Space
3. How was the company’s start-up journey in context to growth, team building, and customer satisfaction?
We believe, for any startup idea to become successful, the most important thing is its uniqueness and scalability. We utilized the lockdown for focusing on brand-building activities and spreading awareness about MyBranch. And even after we reopened, we ensured all sanitization and fumigation standards are met and our offices are completely safe for the guest employees.
We believe in the phenomenon of ‘Happy customers bring more business’, hence we consider our customers foremost.
MyBranch Logo
4. How do you see the co-working industry pacing ahead of a pandemic? What are the key points the young entrepreneurs, or start-ups in the industry, should keep in mind?
There is no denying that just like any other business, this industry too, has its share of pros and cons. But in the bigger picture, we think the co-working industry is going to boom because numerous offices and organizations have opted for work from home as a permanent way of working and are now seeking small office spaces at different locations instead of consolidated working space. Young entrepreneurs who aspire to enter into this business should most importantly focus on the conceptualization of their ideas. They should lay emphasis on offers leading to maximum satisfaction for the customers, in return, this can get a lot of recognition and references for future deals.
5. What were the learnings you got from your journey as an entrepreneur?
As an entrepreneur, one of the biggest learning we got was — bite only as much as you can chew. It is very important to only cater to as much demand as you can deliver effectively and efficiently. We believe in maintaining quality even if means lesser quantity. As an entrepreneur, you are responsible for all things from top to bottom, and for a business to become successful it is really important to manage all aspects efficaciously. A business can become fruitful with a multi-dimensional approach and a will to never give up.
6. Do you want to share an anecdote or inspirational story that you think would be enriching for our readers.
To us, ours is an inspirational story because contrary to what we thought, MyBranch was able to increase revenue by 8% for this financial year despite 2020-21 being such an unfortunate year in regard to business and humanity as well. This has inspired us to work towards setting up 100 branches across India.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Infosys.
Digital technology is transforming services and businesses in today’s world. It is fundamentally changing operations and delivering value to consumers. It is also a cultural modification that wants organisations to experiment with various things and get comfortable with downfalls.
Infosys is an information technology consulting company. It is an Indian multinational company that provides information technology, business consulting, and outsourcing assistance. It considers itself to be a global leader in next-gen digital consulting. It is the 2nd largest IT company after TCS (Tata Consultancy Services). It is also the 596th biggest company in the entire world based on the terms of revenue.
If the above stats have already grabbed your interest, then you can dive into the full Infosys success story below, which contains the Infosys company profile, and has all the details regarding the Infosys owner, Infosys CEO name, everything about “how Infosys make money?“, its Founders and Team, Funding, Growth, Competitors of Infosys, and all about Infosys company.
Infosys is hailed as an Indian multinational information technology company that offers information technology, business consulting, and outsourcing services. Originally founded in Pune, Infosys is currently headquartered in Bengaluru.
It is provider of next-gen services. The company enables clients in more than 50+ countries to stay ahead of the innovation curve and outperform in the game. It has more than 187,000 employees working within it.
Infosys – Startup Story
The Infosys startup story came into existence in 1981. It was founded by the former employees of Patni Computer Systems. 7 people who were enthusiastic about writing codes and wanted to make it big in the American market – N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh started the company with a meagre amount of INR 10,000 and named it Infosys Consultants. Mrs. Sudha Murthy gave this amount to her husband, Mr Narayana Murthy. The company began with a small office room. It was the front room of Murthy’s home and the registered office was Raghavan’s home. The company didn’t have any computer till 1983 because they couldn’t afford it. It took them two years to buy a computer on their own and the model was Data General 32-bit MV8000.
Infosys – Founders And Team
N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh are the founders of the company.
Narayana Murthy is an Indian billionaire businessman and the co-founder of Infosys.
Nandan Nilekani is an Indian entrepreneur. He is the Non-Executive Chairman of Infosys.
S.D. Shibulal is an Indian business executive. He is the CEO and Managing Director of Infosys.
Kris Gopalakrishnan is the former executive vice-chairman of Infosys. Currently, he is the Chairman of Axilor Ventures.
Ashok Arora is also a founder of Infosys.
N.S. Raghavan is an Indian industrialist. He is one of the founders of Infosys.
K.Dinesh is the co-founder of Infosys. He completed his education from Bangalore University.
Nandan Nilekani, N.S. Raghavan, Kris Gopalakrishnan, N.R. Narayana Murthy, S.D. Shibulal and K. Dinesh (left to right), Founders, Infosys
Infosys – Tagline, Slogan And Logo
The tagline of the company is ‘Powered by Intellect, Driven by Values‘. This is the base tagline of Infosys. It focuses especially on re-communicating values. The company uses various slogans from time to time in its presentations.
The Infosys logo –
Infosys Logo
Infosys – Business Model
The Infosys business model is ideal. Previously the company concentrated only on Europe and the US preferring the (GDM) Global Delivery Model. During the 1990s Infosys focused on factors like Banking and Financial Services (BFSI), manufacturing, application development, maintenance, and testing. These all helped Infosys become a pioneer in the IT sector.
Infosys – Revenue Model
Improving Revenue by establishing productivity guidelines.
Improving Revenue by improving the process.
Improving Revenue by driving more work offshore.
Improving Revenue by increasing Reuse
Improving Revenue by taking giant leaps from small steps.
Infosys has raised a total amount of $200 million in funding over the 1 funding round.
Date
Transaction Name
Money Raised
Lead Investor
July 10, 2008
Post-IPO Equity
$200 million
Chrys Capital
Infosys is funded by Chrys Capital.
It has also made 21 investments.
Infosys – Growth
The Infosys growth story can be witnessed since it started trading in India in 1993. This was possible because the business had the ability to increase the per-capita revenues and attract the brightest investments on a go-forward basis.
Infosys was on unstable grounds when its first joint venture collapsed in 1989. However, the company saw a breakthrough with Data Basics Corp. where Infosys started to work as an onsite software developer for the US market.
Infosys eventually formed a JV again with KSA (Kurt Salmon Associates), which was nothing other than the completion of a full-circle for Infosys. It partnered with KSA this time to handle marketing in the US. The Narayana Murthy-led company went public in 1993 and was hailed as the first Indian company to list on the Nasdaq stock exchange in 1999. Pioneering the Global Delivery model and preserving and nurturing the entrepreneurial itch are some of the main secrets that lie behind the colossal growth of Infosys.
Infosys currently serves clients like Visa, Reebok, Cisco Systems, Nordstrom, Boeing, New York Life, Nortel, GE and more. The biggest market for Infosys is US.
Infosys market capitalisation surpassed the $100 bn (Rs 7 trillion) mark for the first time on August 24, 2021. One of the oldest and the largest software companies in India, Infosys witnessed a surge of 71% of its share values and became the fourth Indian company to record such a feat.
Infosys – Challenges
Infosys had witnessed numerous challenges, which started right from the day it was launched, or even before that if we go by the facts. Infosys started with a sum of Rs 10,000 borrowed from Mrs Sudha Murthy, starting from there to the place where Infosys is now was a path full of hurdles. One of the prominent challenges that Infosys witnessed is when its first Joint venture, KSA- Infosys failed in 1989. This was really a point when Infosys was almost on the brink of collapsing down. This led to the resignation of the Ashok Arora, who was absolutely dejected with the way Infosys progressed.
Mr Gopalkrishna reminiscing the days, said “we had nothing after eight years of trying to bring up a company. Those who studied with us had cars and houses.” With the resignation of Ashok Arora things started to get blurry for the other co-founders as well, but soon Narayana Murthy remarked “if you all want to leave, you can. But I am going to stick (with it) and make it”, which instilled courage in all the other founders of the company.
The top Infosys competitors are TCS, Wipro and HCL.
TCS is one of the biggest competitors of Infosys. It is headquartered in Mumbai, Maharashtra, India. It was founded in 1968. TCS operates in the IT Services industry.
Wipro is also one of the top competitors of Infosys. It is a public company headquartered in Bangalore, Karnataka, India. It was founded in 1945. It also operates in the IT services industry.
HCL is the top 3rd rival of Infosys. It is headquartered in Noida, Uttar Pradesh, India. The company operates in the IT Services Industry.
The company has got plans to hire around 12,000 local US additional workers for various roles by the year 2022. The eye will be especially on experienced technology professionals as well as new graduates from renowned universities and colleges to create a strong platform. This action will be taking place in order to decrease their dependencies on the H-1B visa. This is nothing but a strategy to increase local hiring in the US.
FAQs
What is the full form of Infosys?
The name Infosys is derived from Information Systems.
Who are the founders of Infosys?
The Infosys founders are N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh.
What is the Infosys story?
Infosys is a provider of next-gen digital services with more than 187,000 employees.
Probably the only growing food company with over 44,000 restaurants spread out in over 111 countries is Subway and it is also one of the fastest-growing franchises in the world. Subway, a food chain specializing in submarine sandwiches. It became the largest fast-food chain in the US in 2002.
About Subway
The founder of Subway, Fred DeLuca was out to fulfill his dream of becoming a medical doctor. He was in the need of money and searched if someone could help pay for his education, a family friend suggested he should open up a submarine sandwich shop. Dr. Peter Buck, Ph.D. in Physics, lent him a loan of $1,000 to become DeLuca’s business partner. They opened up a restaurant called Pete’s Super Submarines as submarine sandwiches were the only specialty. They even planned and set a goal of opening 32 stores in just 10 years.
The story of Subway started in 1965 when Fred DeLuca borrowed $1,000 from Peter Buck and opened his first restaurant in Bridgeport, Connecticut. In a passage of one year, they formed another company to oversee the expansion of their restaurant named Doctor’s Associates, a name derived from DeLuca’s desire to make enough from the restaurant to fund his medical tuition. Over the course of time, the two changed the name of their restaurant chain to Subway in 1968. The Headquarters are in Milford, Connecticut.
Fred DeLuca, the funder of Subway
After Subway’s establishment, it didn’t take much time for it to grow and anticipate incredible success. The first Subway was opened in California in 1978, and by the year 1984, it went international by opening up a franchise in Bahrain.
Fred served as the company’s CEO till 2015. He suffered from an illness for two years, DeLuca finally turned his position over to a person called Suzanne Greco before passing away a few months later. Despite the death of the founder of Subway, it continued to see unprecedented success.
There are 26,744 Subway locations in the US and it actually surpasses the number of McDonald’s locations in the country, making Subway having the leading number of restaurants in the United States. Since then from 2007, Subway has continued to rank high in Entrepreneur’s Top 500 Franchises list.
The popularity of the Subway logo is majorly high because of the logo’s staying power and consistency. Unlike many companies who are unfaithful to the logos they started out with and changed it completely, Subway’s logo has remained mostly the same from the very start.
Subway had created a monogram out of those arrows present in the logo and continues to use that in much of the marketing material. The Subway logo represents the entry and exit of Subway. Customers can see the monogram everywhere from Subway’s commercials to the paper in which they wrap their sandwiches.
Altogether, it has managed to establish a widely recognizable logo that conveys all of the messages to its customers. Subway has managed to get it right, which says they have put a lot of thought and effort into the logo so they are able to keep it throughout the lifetime of the company.
Amazing facts about Subway
After opening the food chain, Pete sold just over 310 submarine sandwiches and charged no more than 70 cents for them.
Rather than going with a less time-consuming process of machine-picking the black olives that other brands use, Subway hand-picks every single black olive to use in their sandwich,
The yummy 6-inch, lunchtime classic was initially called the Snak when it was added to the massive menu in 1977.
There is a combined total of 4,500 Subway stores across the globe. It had stores in over 110 countries in 2017, with the most stores being in the U.K. and Brazil.
Every Subway store uses on an average 16 acres of the leafy green lettuce that we love in our sandwiches every year.
An American decided to rob a Subway store and then thought to best use the stolen money was to buy a Potbelly sandwich at the same place. Later, he was arrested.
According to a former employee, when it comes to the customer’s choice of filling, the meatballs or roast beef are the worst items you could pick due to the amount of time they have been laying around.
During the construction of the first World Trade Center, a Subway store decided to open up a store elevated high above the New York Skyline to feed hungry construction workers.
Number of Subway Stores around the globe
Growth of Subway
Over the years, Subway had struggled to maintain its position in the sandwich arena and retain its establishment in the food market.
In 1974, Subway had started its business through a franchise business model. Exact eight years later, the company with a lot of developments and experience had grown from 16 stores up to 200 stores. Later by 1990 Subway was at around 5,144 locations, with a goal to reach 8,000 stores by 1995. Growing faith of customers in Subway strengthened the company to reach 10,000 stores by 1995.
Subway competed with McDonald’s and surpassed it in the year 2002, becoming the highest number of outlets. In the year 2013, there was an annual revenue of $9 billion from the outlets around the countries. Apparently, the Subway brand has more than 44800 outlets now in more than 114 countries.
Subway in India
After the initial introduction and evolution of this food chain, the focus shifts on India operations. Indian market is a large, younger population that has a high liking towards anything that is ‘made in foreign’ which symbolizes being modern.
Subway is strengthening its delivery network in India by partnering with prominent food aggregators. They are also looking forward to facilitating the customer and introducing mobile ordering for the Indian market.
The popular American restaurant chain, Subway, which has successfully let itself spread across the globe, is also making its place in India. Global sandwich restaurant, food chain Subway has launched its 600th franchise restaurant in India at Bharuch, Gujarat.
The Subway franchise is easy and cheap to set up in a country like India and there is a huge number of Subway stores too. Currently, the American food chain has about 660 restaurants in India, which is the eighth largest market for it in terms of the number of restaurants globally.
Subway’s Indian subsidiary is to be acquired by Reliance Retail, as of August 4, 2021. The company reportedly holds the third-largest share with 6% of the Indian QSR market that is valued presently at Rs 18,800 crore, with Domino’s and McDonald’s, being the current market leaders with 21% and 11% shares respectively.
Mukesh Ambani-led Reliance Industries Limited is looking like it is on an acquisition spree. The company now seems to target the QSR market after tapping in on several sectors including grocery, e-pharmacy, edtech, music, furnishings, and more.
The acquisition deal of Subway India is alleged to be within $200-250 million.
The Bottom Line
Subway is a delicious combination of fresh and healthy menu items, which includes sandwiches and other bakery products, with the speed and convenience of fast food. The restaurant chain Subway has exploded into an international success, and its Indian subsidiary had also been quite revered across the nation. However, the current acquisition deal with Reliance Retail might be putting a stop to the search of Subway Inc for collaboration with a single partner for expanding the business operations but the deal might also usher a bright future ahead.
FAQ
How many subways are there in India?
As of now, there were 660 Subway restaurants in India.
Social media has become crucial for everyone. People of different age groups, teenagers and adults have social media accounts and they use them for various purposes. Social media is basically technologies that facilitate the creation and sharing of information, photos, ideas, videos, and so on.
These days, there are a lot of different social media platforms and the emergence of advanced platforms led to the Orkut downfall. Social media can help share details with the public and also meet other people who are available on the platform. It doesn’t stop there. Social media is now used for marketing and it has proved to be one of the best sources of marketing. The use of social media has been increasing since it came into existence. Orkut was one of the very earliest social media platforms. Orkut founder is a Turkish engineer named Orkut Büyükkökten.
Orkut was Google’s first step towards social media and it was extremely successful. Orkut was launched in the year 2004 and had a lot of competitors like Yahoo messenger, skype, etc. Orkut could very easily get ahead of all the competitors. It could make it through with 3 times more users than Facebook. All these were in the Orkut’s initial stages. Even India and Brazil had a lot of users for Orkut. Keep reading to find out about the rise and fall of Orkut.
the Orkut profile allowed the user to add friends and message them privately
sending scraps to people (which was visible to everyone)
posting images and videos
option of liking each other activity
Orkut games and community polls were a popular feature
a unique Orkut feature is customizing themes
Rating your friends and becoming each other’s fans
The differences between Orkut and other Social Media Platforms
When Orkut started it was just like other social media platforms but with some differences. These differences might have been the reason for their success initially. It had features wherein one can create an account, manage a profile, and so on. Orkut had one good feature that other platforms did not have. There was an option for ‘crush list’ and we can customize themes on this platform. This was not available on any other platform. Other than this, the working of Orkut was similar to the working of other platforms. The Orkut login and interface was quite easy but it lacked other features.
In the year 2014, Orkut was shut down. So why did Orkut fail? It was because it did not have a very good user base and most users started shifting to other social media platforms from Orkut. There were a lot of reasons for this. this, Google was closed to shut down Orkut. The main reason for this was the emergence of other social media platforms that were in most ways better than Orkut. Here, let us analyze the reasons for Orkut’s failure.
One main reason for the failure of Orkut was the competitors growing much faster.
1. Privacy
People love posting on social media and maintaining a profile but at the same time, they expect some privacy. One of the biggest reasons why Orkut was closed, was because everyone could see anyone’s profile and also personal information and contact details. You could stop someone from seeing your profile only if you put them on your block list. Facebook had a few privacy settings and options to show the profile and other details only to people who are added to your friends’ list. This made a few users switch to Facebook, one of Orkut’s leading competitors as it looked much safer than Orkut.
2. Speed
The website was initially fast and worked perfectly well but later, after a few redesigns, it became very slow and the loading took a lot of time. Also, with the number of users increasing, it became a bigger issue. The existing server was not enough to handle so many users and hence the uses had to wait for a long time to reach the landing page. Also, when Orkut was in the initial stage, the average internet speed was quite low.
3. Not Very User-friendly
Initially, Orkut was very easy to use and this attracted a lot of users. The redesigns were very complicated and most of the additions were even irrelevant to the concept of Orkut. Facebook and other social media using were found to be easier than this one. Users see social media as a source for entertainment, fun, and relaxation and hence they expect it to be very simple. Orkut shut down reason being that people started deleting their accounts on the platform.
As Orkut started becoming famous, mobiles and other smaller devices started becoming popular and most users preferred using the same. With this, Orkut could not cope with the changes. Orkut found it very difficult while Facebook catered to customer needs. Also, since it was slow, it was not very comfortable for the users to use it on mobile devices.
5. Google Diverted Its Attention Towards Google+
Google being very successful and developing, started focusing on other projects that were unique like YouTube. With the introduction of Google+, which is also a social media platform that had more features, Google wasn’t giving enough importance to Orkut.
6. Users Preferred Facebook
Customers and users found that Facebook was better for them than Orkut. Facebook had the ability to update quickly to users’ needs. They were able to find out exactly what the user needs and update the website accordingly. Adding the privacy feature was one of the best decisions that Facebook had taken. If only Orkut had tried this first, they would have been in the market for a little while.
7. Not Business Friendly
Orkut was limited to personal interactions, while Facebook became the platform for online marketing and advertisements. Facebook also had many additional features such as games, liking posts and sharing which are crucial for marketing whereas Orkut lacked those features.
With this growing trend, it is very important for companies to work on capturing customers and work more towards retaining customers. Orkut failed in all of this. Market trends and customer psychologies keep changing and Facebook and other social media sites were changing according to it but Orkut failed to do the same and instead they made it more complicated.
Also, Google, on knowing all this, could have worked more on Orkut and made it better. Google also proved to be successful in other ways. From Orkut, there is one lesson that startups and other companies can learn. Coping with competitors is extremely important. Orkut, being launched by Google, could do it but still failed to do so.
Also, all customers expect a lot of things from companies and it is the company’s duty to fulfil all of it or at least some of it. Orkut failed in that too. Very small mistakes have led to the shutting down of a company that was started by Google. After all, little drops of water make a mighty ocean and hence little mistakes that companies do can put them in a very bad place.
Frequently Asked Questions
Is Orkut still working?
Shutdown. On June 30, 2014, Google announced that Orkut would be shutting down completely on September 30, 2014. Users could export their photo albums before the final shutdown date. Orkut profiles, scraps, testimonials, and community posts could be exported until September 2016.
Who invented Orkut?
Orkut Büyükkökten. Named after its creator Orkut Büyükkökten, a Turkish engineer, the social media platform enjoyed unparalleled popularity in Brazil and India, especially among the 20-somethings. Today, they remember Orkut as something they ‘did’ before Facebook.
Why did Orkut fail and Facebook succeed?
Facebook was the main reason behind Orkut’s failure. Though redesigned several times Orkut was not able to retain its user base. Facebook kept it as simple as it could for the user so Orkut’s loss was Facebook’s gain. Orkut never tried really to take up to revive itself.
Is Orkut coming back?
Orkut might come back but rename as Hello
Why did Orkut shut down?
Orkut was one of the most visited sites in countries like India and Brasil in 2008. However, it had to be shut down due to the growing legal issues.
Orkut vs Facebook, which is better?
Facebook is better than Orkut because it has more security, while Orkut has less chance of malware.
When did Orkut shut down?
Orkut was shut down by Google in 2014.
What happened to Orkut?
Many other social media sites became more popular than Orkut so the users shifted to them.
Which countries are the biggest users of Orkut?
Orkut is popular in countries such as Brazil, Paraguay, India, Pakistan, Portugal.
Who is the owner of Orkut?
Google is the owner of Orkut, while the Orkut founder is Orkut Büyükkökten
Orkut or Facebook which came first?
Orkut came out in 2004 just ten days before Facebook was launched.
Niharika Kalyankar
