Headquartered in Bangalore, Flipkart is one of the largest Indian e-commerce companies. Since its launch in 2007, it never had to look back. With constant growth and profitable acquisitions, Flipkart earned a revenue of $6.1 billion in 2019. It also owns Myntra, PhonePe and 77% of its share was acquired by Walmart in 2018.
No one can deny that Flipkart has been a platform for many sellers who would have otherwise perished in their brick and mortar stores. While many continue to strive in this e-commerce platform, many more are stepping in. This article takes you through a few tools that will help you to expand your business in Flipkart.
It is an e-commerce platform for the sellers from where they can sell products on Flipkart. It also allows you to sell on other sites as well. They guide you throughout the process by giving you many options like an online demo, scheduled call with an expert and so on. This will be a great place for beginners to figure out the functioning of sales in Flipkart.
Facebook Advertising
Sellers can now make use of Facebook to advertise their products. It must be acknowledged that their reach and impact is really high. They are capable of improving traffic into your product. Once you set your budget, audience and location; you are good to go.
Hootsuite
Hootsuite Website
This tool helps you manage all your social media pages from one more portal. The relevance of this tool becomes prominent when you realise that through social media marketing and customer support becomes virtually the same. Such a single portal will help you in engaging with your customers more efficiently which will help you in analysing patterns of purchases.
Shipworks
Shipworks Website
To keep track of your orders, pick lists, custom invoices and monthly reports, Shipworks is an excellent tool to rely upon. It makes the process of shipping easier. They download orders from the online store for your future reference and order fulfilment.
This app as the name suggests is for sellers on Flipkart. It helps monitor your business in real time and is even remotely accessible. It has an excellent interface which also helps you get the real time status of orders, customer questions etc.
Eshop box
Eshop box Website
This tool helps you reduce the cost of doing business. It is part of the Smart Fulfilment Programme by Flipkart. It boosts your sales and Return of Investments. All you need to have is a seller account on Flipkart Smart Fulfilment and Eshopbox fulfils entries that are integrated as your pickup address.
BoxNsights
BoxNsights Website
It is an online tool that helps you increase your sales and profit margin if you are selling on Flipkart. Their price reprising tools will keep a close eye on competition and make sure that you get the best out of any opportunity. Users have claimed to have a 40% increase in margin after using its help.
Happy sellers
Happy sellers Website
They provide Flipkart sellers with a suite of products. This is available for Flipkart Smart Fulfilment Sellers. They process and auto dispatch orders. They are extremely useful and are popular among the clients (sellers). All you have to do is to download the app and process the orders.
This visionary tool in Product Information Management personalises the details of your product suitable for Flipkart as and while the control remains with you. Their service is also extended to other e-platforms as well. They help in amplifying your brand and improving its value.
Conclusion
Flipkart themselves provides a lot of support for sellers doing business through Flipkart. However, It is always better to aid your business with the help of external tools as well. Some of these tools can be used for selling products in other e-commerce platforms as well while other few are only available for Flipkart sellers.
One thing that you should never forget is that – upgrading is important. As your business develops and expands, better and more tools need to be used to supplement the growth.
FAQ
What is the most sold item on Flipkart?
As per Google the products that sell most on Flipkart and Amazon are Apparel and accessories with an impressive figure of 84%, followed by Electronics at 71%.
Is selling on Flipkart profitable?
Yes, it is profitable to be an online seller on e commerce platform, As It is just like any other business where you need to take risks and learn.
Is GST required to sell on Flipkart?
Yes if you want to sell any product on Flipkart you require GST.
Are You Looking For The Best Cybersecurity Expert In India?
India is the third most cyber attacked nation in the world! So to help you protect your company, we have compiled a selection of the best cyber security companies to help you pick a partner. Avoiding violations of privacy should be the highest priority of protection for all digital companies. This list of the best cybersecurity consultancy firms in India is collected for help in your quest for a partner.
If you want to know more more about Cybersecurity and how it works and why exactly you need it, check out the video below:
Well, we will help you to pick a company based on your budget and requirements, and create a shortlist of businesses that best fit your programs. So, Lets look at the Top 10 Cybersecurity Companies in India.
Quick Heal is one of India’s best cybersecurity providers that provides software protection solutions. The Pune-based company was founded in 1995. The business has put R&D into device and network security technologies in almost two and a half decades. Their buyers vary from home consumers to households to businesses.
Cyberops Infosec LLP
Cyberops Infosecs Logo
In favor of digital development, technical innovation and skillful structures, Cyberops has implemented effective cyber-attack security. By providing consumers a highly efficient, agile and improved experience, Cyberops aim for the security of modern cyberspace.
In terms of information security and cyber-crime investigations, Cyberops has fluttered to conquer knowledge and global sport. Cyberops is dedicated to consumer excellence which is evidenced by accredited information management training.
Compufy Technolab LLP
Compufy Technolab Logo
Compufy Technolab LLP is situated in Ahmedabad, India which has been founded in 2017, as a cloud & DevOps consulting service company. Their staff of over 10 are specialized in cloud consulting, IT strategy consulting, and small business cybersecurity strategies. Compufy Technolab LLP has created an internet service provider software solution.
Vervali Systems PVT LTD
Vervali Systems Logo
Vervali Systems Pvt Ltd is a Mumbai based software testing company based in Pune, India. Since 2010, the group of 30 supplied technology monitoring and cybersecurity resources for a multi-customer IT business, such as infringement identification and occurrence reply, digital forensics and auditing, and expert testimony. One included a B2B lead generation method, for which third-party authentication was created and required. The customer was delighted with the trials of the squad.
TAC InfoSec Pvt Ltd.
TAC InfoSec Logo
To build informative cyber risk scores TAC Protection integrates a comprehensive view of vulnerability and risk data across the business. Artificial knowledge and user-friendly analytics can help you calculate, prioritize and minimize vulnerabilities in the whole IT stack.
Protection departments have software and evidence overwhelming their organisations’ vulnerabilities, but do not provide a straightforward plan for how scarce resources are distributed in order to mitigate danger more effectively.
To build informative cyber risk scores TAC Protection integrates a comprehensive view of vulnerability and risk data across the business. Artificial knowledge and user-friendly analytics can help you calculate, prioritize and minimize vulnerabilities in the whole IT stack.
Sattrix Information Security
Sattrix Information Security logo
Sattrix Information Security is an IT organization of more than 50 professionals founded in 2013. Headquartered in Ahmedabad, India, they provide cyber protection and controlled IT services. For cybersecurity services related to telecommunications and IT, they mostly deal with startups. Sattrix Information Security also provide other technology services like hosting and security monitoring of the cloud infrastructure.
Togglenow Software Solutions PVT LTD
Togglenow Software Solution Logo
ToggleNow Software Solutions Pvt Ltd. is a Hyderabad, India based software solutions organization with over 10 experts. Founded in 2011, the organization provides customers from start-ups to companies with IT strategic consultancy, IT managed services, and cybersecurity solutions. For the robotic process automation company, ToggleNow Software Solutions Pvt Ltd. supplied custom software creation solutions. The challenge was to incorporate an interconnected SAP system.
Computer Solutions East
Computer Solutions East Logo
Computer Solutions East, which was formed in 2006 and has more than 80 staff, is a full-service software licensing, network resources, and a support provider based in New Rochelle, N.Y. They provide easily managed IT services, IT consultancy, technology creation, and cloud solutions. For a production company, Computer Solution East served as a Microsoft Partner. They contributed to the transition to the sellers’ own portal of Microsoft 365 licenses.
Great Software Laboratory (GS Lab)
Great Software Laboratory Logo
Great Tech Laboratory has offices in London and San Jose, the Calif, headquartered in Pune, India. The company has over 1,000 employees and offers custom product creation, IT & Big Data Consultancy and IS services, cloud consulting and IS services, and cyber safety services, and has been founded in 2003. Great Tech Laboratory represents enterprises and small businesses in a variety of sectors, including IT, financial, and manufacturing.
GCV Systems LLP
GCV Logo
GSV SYSTEMS LLP is located in Gurgaon, India’s leading providers of information and connectivity services. They specialize with a team of 10 in cloud consulting and IT services, and cybersecurity. GSV SYSTEMS LLP focused on transforming an old telephone system into a Cisco network along with a project management community. They offer technological, troubleshooting, and maintenance for services. The performance of their work and its versatility please the customer at all times.
Most big enterprises in the USA and Europe still have a major presence in India as a leading IT center in the country. These businesses provide their customers with data security services. The cyber protection market is rapidly driving new startup developments in India. According to numerous estimates, the Indian cybersecurity market will rise by 18 percent a year.
Long story short, Cybersecurity is a must if you want to have a secure online presence. In this day and age it is not longer an option but a necessity. So, here’s to hoping your aggressive marketing is protected!
FAQ
Which are the Indian companies working on cyber security solutions?
Cyberops Infosec LLP, eSec Forte Technologies, Hicube Infosec Pvt. Ltd, K7 Computing Pvt. Ltd. and Quick Heal Technologies Ltd. are the Indian companies working on cyber security solutions.
What is the largest cybersecurity company?
McAfee is the largest cybersecurity company.
How do cyber security companies make money?
Cybersecurity companies earn money by offering any number of services to clients, including providing outsourced technology support, managed services, software tools, penetration testing, systems auditing, vulnerability analysis and consulting.
Packaging industry is more than just packaging to consumers today. Consumers, distributors, retailers and food producers are looking for fresher, more thoughtful packaging solutions that has minimum negative impact on the environment. The right kind of packaging will catch the eye of consumers, and it will also differentiate the product from the potential business competitors. A strong packaging strategy will also act as a marketing tool, informing the consumer what the brand is about.
Better packaging creates brand identity in the market. A dedicated consumer can recognize it from anywhere in the environment, that’s a winning situation for the brand. The company must adapt to the needs and demands of the customer and the generation in order to attract more customers. This has been evident in the packaging changes over the years, as companies adapt the packaging to the generation.
During the pandemic, brands are redefining their packaging and design strategy to cater to safety-concerned consumers. For instance, Swiggy introduced extra protective double-layered packaging to the food keeping it fresh and safe, while Nature’s Basket are switching to single-use paper bags that can be disposed after use.
Some are delivering sanitizers with the goods, while others are facilitating digital payments through QR codes. India’s packaging industry has seen a boost during the pandemic due to lockdown on physical stores and higher adoption of e-commerce. Brands are trying to make changes in their packaging and design, in an attempt to make it safer during the pandemic. The importance for immunity and safer packaging grows stronger.
Reasons to Change Product Packaging
The most important aspects of the marketing is arguably the product packaging. In most cases, businesses with physical products, the packaging design is the deciding factor on whether the item is purchased or not. In today’s design-focused environment, customers give equal importance on the quality of the packaging design of the product. To stand out in the product competition, companies need to invest on the product packaging.
When to consider a product packaging redesign is the concern? There are several instances when the change in the Product Packaging needs to be considered.
1. Budget Problems
Every Organization experiences financial and budget constraints. There are some expenses that eat the organization’s revenue. Also, some product packaging can be costly. Organizations can be excessively financially invested in their product packaging design without any noticeable return on investment. Moreover, Organizations have to consider changes in the product packaging if they want to cut costs.
2. Outdated Product Packaging Design
The Packaging Design trends are always evolving and most of the product packaging designs during this decade feature bright colors and a lot of design elements. Today’s design standards tend to go the minimalist route. Designers emphasize a huge deal on white space, that is the blank space around the text and symbols. Check when the product design was created. Compare the design to the current trends in your industry’s product packaging. The change in the product packaging is definitely needed if it’s too old and the product should be launched with a new face.
3. Advanced Product Packaging Technology
New technology has more efficient product packaging methods. Furthermore, there are new ways to design the packaging. The organizations can have greater updates on their branding by using new technologies on product packaging. There are new styles to choose that may be a better fit for the products. Businesses can incorporate the latest ones in their design to create a more powerful packaging redesign. Thus, advancements in packaging technology demand changes in product packaging.
4. Change in Product Formula
Product formula change with time and new ingredients become available. Latest technologies changes product’s functionalities and specifications. The product may even need a new size or a new shape. To work on these changes, businesses also need to change the product packaging design. Beside from the obvious need to change ingredients or change the packaging shape and size, it is also a good opportunity to advertise the improvements on the product formula.
5. Customer Relations Crisis
Customer relations nightmares can happen even to the best of organizations. Especially when customer interaction happens almost immediately through social media, one bad piece of publicity could be fatal to the brand. It takes time to recover from the effect of the negative publicity. That is why an organization should take the time to consider and change the product packaging. It would show that the organization is actively trying to improve their product and image, starting with the design.
6. Emotional Connection To The Brand
If Organizations are asked the reason of picking up the specific product as opposed to the other five on the shelf. More often, they won’t be able to articulate the accurate reason. It is always the emotional connections that keep a target market loyal and coming back to the brand. These are the relationships the brand should strive to develop. These relationships can help achieve longevity and a sustainable competitive advantage. Therefore, to differentiate their products from the competition, a company needs to change their packaging constantly.
7. Test New Product Packaging with Research
Test new packaging with qualitative and quantitative research. Guess the packaging redesign by actually implementing and having people’s reaction to it. Analyzing what is working well to communicate the desired message and what is not. It can cost ample amount of resources and budget to test, but ultimately it can save mega wealth in the long run and increase the chances for sales success. Continuous research will help an organization make changes to the product packaging.
The most important job in a business is change which is always constant. Transforming how the target audience feel about the brand, it is important to know what makes the customer purchase the product. The customer starts to love the product at first sight which is crucial for a brand.
Attract New Audience
The designs influences the audience. The product and its plain packaging attracts consumers with a minimalist. If in organization want to emphasize their commitment to sustainability, consider adding more colors to the packaging. This attracts younger, eco-focused consumer who cares about what goes into the products they buy. Be exact with who you’re trying to attract. Therefore, product packaging needs some regular changes in order to attract new customers.
Make the Product Recognizable
To consumers, changes can seem random but they are also looking forward to what new the businesses are capable of. Changed or updated Product Packaging design can even make the audience recognize the brand’s logo, the unique color scheme Product Packaging is way too catchy compared to a product next on the shelf. These techniques will help organizations increase sales and attract more customers.
All the brands in the market almost try to be out of the box in terms of packaging. Brands can’t play safe with their innovation whether it be the product itself or the packaging. If you see sales stagnant, maybe it isn’t your product as much as it is your packaging.
The Reserve Bank of India has announced a considerable number of changes in regards to the financial and non-financial transactions related to the ATMs in the country. The Central Bank has provided the permission for the banks to increases the charges from their customers. Let’s look at the latest Financial service Fees and charges revised by RBI.
A banking charge will be applicable from 1 January 2022 where the bank customers will have to pay an amount of INR 21 if they exceed the monthly limits of the withdrawal from the ATM. The ATM charges which were in existence were around INR 20 per customer if they exceed the monthly limits of the free transactions provided by the bank.
On 10 June 2021, the Reserve Bank of India has provided the permission for the banks to increase the charges regarding cash and non-cash Automated Teller Machine for exceeding the number of free financial transactions available on a monthly basis from next year i.e., 2022.
Interchange Fee charged by the Banks Revised by RBI
The circular contained the information regarding the interchange fee charged by the Banks for the ATM transactions. The interchange fee for the ATM transactions is increased from INR 15 to INR 17 for each financial transaction and the interchange fee for the non-financial transactions is increased from INR 5 to INR 6, which will be effective August 1, 2021.
An interchange fee is paid by the banks to the operator of the ATM when a customer makes a transaction at an ATM that does not belong to the card-issuing bank.
The Interchange fee has been revised by the RBI from INR 20 to INR 21 if the customers exceed the monthly limits of the withdrawal from the ATM.
RBI added that the customers will continue to enjoy the benefits of free 5 transactions every month which will be inclusive of financial and non financial transactions. The free transactions will be available every month through the ATMs of the banks with which they have an account.
The customers will also be eligible to do transactions in the ATMs of other banks with a limit of 3 free transactions in the metro cities and in the non-metro cities the customers will be eligible for 5 free transactions from the ATMs of another bank.
RBI conveyed in a statement that in order to compensate the banks for the higher fee charges for interchange and due to the general increase in the costs, the Reserve Bank of India has allowed the Banks to increase the charges on ATM transactions to INR 21.
Number of ATM’s in India
Reason for the increase in the charges by RBI
The Reserve Bank of India has conveyed that the reasons for letting banks increase the fee and charges for the transactions were mainly due to the increase in the cost towards the maintenance of the ATMs and also the increase in the cost for the deployment of the ATMs.
The maintenance cost incurred by the banks and the white label ATM providers is considered to have the necessity to balance the expectations of the stakeholders of the financial institutions as well as providing a convenience to the customers.
The committee which decided on the ATM charges was established by the Reserve Bank of India back in the year 2019 in the month of June. The committee was set up under the chairmanship of VG Kannan who was the chairman of the Indian Banks’ association. The main aim for the setting up of the committee was to review the entire range of the ATM charges.
The recommendations of the committee were announced to the public by the Reserve Bank of India in the year 202o in the month of July and the recommendation was to use the population as a metric in order to measure the calculations for the ATM charges.
The Reserve Bank of India had also conveyed that the recommendations from the panel were examined in detail.
List of Financial Charges revised by the RBI
From January 1 2022, Customers will be charged INR 21 per ATM transaction after exhausting limit of free transactions which a customer is eligible to conduct from other banks’ ATMs. The interchange fee is hiked from the existing INR 20 to INR 21 per transaction.
The interchange fee for the ATM transactions for the Banks is increased from INR 15 to INR 17 for each financial transaction and for the non-financial transactions is increased from INR 5 to INR 6, which will be effective August 1, 2021.
Conclusion
The last change in the interchange fee in regards to the transactions of the ATMs was in the year 2012 and the charges that were paid by the customers were revised in the year August 2014. There has been a lot of time since there was a change in the charges on the customers regarding the use of ATMs and the transaction fees.
FAQ
Why has RBI revised Cash withdrawal charges?
The Reserve Bank of India has conveyed that the reasons for letting banks increase the fee and charges for the transactions were mainly due to the increase in the cost towards the maintenance of the ATMs and also the increase in the cost for the deployment of the ATMs.
What are the revised charges by RBI?
Customers will be charged INR 21 per ATM transaction after exhausting limit of free transactions and The interchange fee for the ATM transactions for the Banks is increased from INR 15 to INR 17 for each financial transaction and for the non-financial transactions is increased from INR 5 to INR 6.
What is interchange fee ATM?
An interchange fee is paid by the banks to the operator of the ATM when a customer makes a transaction at an ATM that does not belong to the card-issuing bank.
Competition is everywhere. To sustain in the market we have to keep pushing our limits. We have to keep working hard to meet our goals. For that case, the new startups should be ahead of their peers to remain on the top. Staying on the top doesn’t mean you are away from problems and can sustain like that forever. When it comes to Fintech startups there is a whole new game to play. Here we have discussed on How Policy Bazaar Is Sustaining Competition From Other Fintech Players?. Read the full article to know more about policy bazaar strategies to overcome all hurdles.
PolicyBazaar is an online platform that enables users to compare, analyze and buy life, health and motor insurance products. PolicyBazaar is a product, a brand and a service compare. The CEO of Policy Bazaar is Sabvir Singh and has also received a total of $542.2 million in funding. Founded in 2008 by Yashish Dahiya and Alok Bansal, it is the largest insurance website in India. The main motive of Policy Bazaar is to simplifying the buying process to facilitate product comparisons.
The comparative analysis of various insurance policies is based on the price, the quality and the key benefits. This empowers customers with accurate information on insurance products and helps them make informed purchases. PolicyBazaar has a market share of 50% in the online insurance space, by pitching the right product to the right customer at the right stage of his life. The online firm offer insurance across categories like life, health, motor, travel, general and corporate insurance.
The reason Policy Bazaar has been successful in the industry is because of it lead generating company. In India people don’t buy Insurance easily and prefer to go through a long analysis before buying an insurance. From the beginning, the insurance agents used to help the customers to make this decisions. But with the increase in availability of huge number of options in insurance industry too, the agents might get biased by the companies providing huge incentive.
PolicyBazaar has a solution for as it provides value proposition of simplifying the buying process of insurance policies and provides and comparison of various schemes available in the market. It analyses the various products on the basis of price, quality and key benefits. As a policy web aggregation, PolicyBazaar empowers its customer with the accurate information which indeed helps them to make a buying decisions.
PolicyBazaar started out with a business model that revolved around giving information to customers. And based started to concentrate on aggregate that’s when the business started picked up. They now handle insurance deals end to end such that the payment collection and even the claims support is provided by them. It analyzes the lifestyle and medical history of the family to draw an analysis as to what diseases a consumer may get affected by in the near future and suggest insurances products based on that Policybazaar also a huge gap in market.
With the types of services provided by Policy Bazaar it is planning to become a one shop stop.
Customers are aware of the insurers operating in segments. However, the Fintech industry is an open market place allows comparison and enables the consumer to actually evaluate the value being offered by products. Unlike the other offline players, all the data available to PolicyBazaar as it resides in a central repository. It has 5 to 6 years of customer data. One of other main focus areas is to get into innovative product based on customer profiles. The products are digitally sold on policybazaar and are exclusive products that will transform the way people purchase insurance.
Another way it is being sustainable is by following the run strategy and adds new feature and technology to provide enhanced customer experience. The mobile apps in android and IOS platform where a customer can not only search, compare and buy insurance through the PolicyBazaar app but can use interesting features like hospital locator, garage locater and insurance premium calculator and instant renewal of insurance policies and claim assistance and more.
The major competition for PolicyBazaar in the online policy marketplace is companies like Bank Bazaar and Acko. This market space is very competitive and are able to show value for money to the consumer in the order to remain relevant. But the Policy Bazaar has increased its level of transparency in product feature, cost and services. To rise to the competitive forefront these market players are realigning their business models according to what the consumers’ needs and expectation of the future target groups.
Some of the well known competitors of Policy Bazaar.
The ecosystem services can not only help you build loyalty but also to increase profits in the long run. The insurance landscape in India is surely seeing a shift but is still traditional up to a certain extend and also another difficulty is motivating customers online. According to the report by PWC 275 of the insurance buyers still rely on the word of mouth while the other 22% believe in agents making them 50% of the online users together. The other 50% rely on online aggregators, out of which 20% rely on Policy Bazaar to develop a future ready strategy.
As digital technologies are becoming more pervasive year on year, they are diminishing the barriers to entry such as prohibitive costs and enable the scaling of operations on demand. As a result, the competitive set is bound to change rapidly.
Policy bazaar currently has 70% of the sale of overall online insurance which is done through online lead generation segment where insurance aggregators sell lead to insurers. It dominates the market with 4 out of 5 leads through internet as it is claimed by them. There are 100 million visitors each year and more than 250 insurance plans on the platforms. Hence why the company focus should be on increasing positive network effects by attracting more users.
There is a multi-homing cost and doesn’t charge its users. The user can also switch to different platforms easily so they could provide a unique value preposition from different insurance companies to its users. Policy bazaar also focuses on providing complimentary services besides insurance policies and is planning to become the one stop solution. It is also planning to start its new vertical in the financial services.
In 2017, when the number of transactions grew to 250,000 a month from 120,000 a month previously. Policy Bazaar managed nearly 100 million customer queries over the phone 2017. The company was growing exponentially and needed innovation to balance out the equation. Which is why Policy Bazaar adopted Amazon Polly a text to speech TTS solution, to take its customer service to the next level.
It uses Amazon Polly for Voice Broadcasting critical voice alerts and inbound calls. Amazon play a huge part in the success of Policy Bazaar as it made a different to enable them to shift from sharing one size fit all pre-defined responses to customer queries such as your documentation is pending or something is wrong with your uploads. With Amazon polly our system identifies the customers and generates a voice call that resolve their queries on a personal basis.
Based on the success of PBee, Amazon Polly powered interactive voice response IVR engine and intends to build a voice bot called PBee Talk that uses Amazon Polly for post-sales support. It enables customers to speak to them at their toll free number and get answer to their queries on policy status, etc. This will be achieved by integration of text to speech and speech to text feature. This is one of the main reason for the sustainability of Policy Bazaar.com despite its completion from other fintech players like Bank Bazaar and Acko.
PolicyBazaar- Conclusion
Policy Bazaar is trying and testing all possible methods to provide its users good and stress-free experience. All the efforts are turning fruitful as Policy Bazaar is increasing its user base all over India. People have started to trust this emerging Fintech startup. It has over 100% growth rate for the past three years and has 300,000 transactions every month and also has almost 50 insurance brands on its portal. To enable this blistering rate of growth we need to ensure that more and more people buy insurance online. The only way to achieve this is by serving the customers better in order to sustain the growth of the company.
PolicyBazaar- FAQ’s
What is Policybazaar?
Policybazaar is a one-stop online destination for all types of insurance products. It holds experience and expertise in insurance to help customers choose the best insurance policies.
What is Policybazaar’s valuation?
Policybazaar valuation is around $2.4 billion (march 2021).
Who is the CEO of Policybazaar?
Sarbvir Singh is the CEO of Policy bazaar.
How much is Policy bazaar’s revenue?
Its revenue from operations almost doubled in the fiscal year March 2019 to reach Rs 310.3 crore from Rs 158.3 crore it earned in FY18.
Is Policybazaar and PaisaBazaar same?
PaisaBazaar is launched by PolicyBazaar to offer financial advisory services to customers, while Policybazaar offers insurance-related products and services.
Who are the top competitors of Policy bazaar?
The top 10 competitors in PolicyBazaar’s competitors are:
Apple had kicked off its WWDC 2021 on 8 June 2021 announcing all the new projects and updated that are going to be released on the Apple devices. Some of the announcements included about iOS 15, Face Time updates, Focus mode, Live Text, Apple Wallet, Apple Maps, AirPods Updates, iPadOS, Security updates, Health updates, watchOS, macOS, and also updated about Siri going to be used on the third party devices.
Almost all the new updates and features have been covered in the WWDC 2021. In this article let’s look at what exactly is WWDC that is hosted by Apple and how one can participate in it.
WWDC is nothing but a conference that is hosted by Apple and WWDC stands for Worldwide Developers Conference. This Information technology based conference is held by Apple on an annual basis. The first WWDC was held in 1983 where Apple basic was introduced.
From 1987 to 2002 WWDC was held during the month of May, during 2003, 2005 and 2007 the WWDC was held during the month of June, in the year 2004 it was held during the late of June or the beginning of July and in the year 2006 it was held during the month of August.
The WWDC Event contents
The event is hosted in order to show the new features or updates on the macOS, iOS, iPadOS, tvOS and watchOS families as well as other software updates of Apple. In general, the conference concentrates on technology and software that is related to the Apple family or their Operating System.
Until the year 2002, Apple never used to conference for launching its new software and technology later on they started the conference as a launchpad for new products.
The conference will contain a keynote address, special get togethers, presentation sessions, events and one to one lab consultations.
The event begin with a keynote address from Tim Cook. Earlier it was started off with Steve Jobs and it was often called by the media as Steve Note. The first day will cover the announcements of the new products of Apple and it would be attended by the conference attendees and the media. The new products or the hardware announced by Apple will mostly be exhibited in the conference hall.
The keynote address will be continued by announcing the software changes, updates and the new features that are launched by Apple. The company also announces the Apple Design Awards on the first day of the conference.
The detailed sessions of the software updates and features will be carried on during the later days of the event. Most of the presentations and sessions will be conducted by the Apple employees which will be recorded and interested people will be able to view them on the Apple Developer Website that is available on the iOS and the tvOS platforms of the conference.
There are lunchtime sessions which will be delivered by the guest speakers at the conference and it will be mostly the experts from the field of technology and science. These sessions however will not be recorded. Earlier there were question and answer sessions and also a session where the attendees could interact with the Apple employees.
The labs will have Apple engineers where one can have a one-to-one consultation with the developers and also there will be the availability of consultation sessions with experts in the user interface design.
The most recent WWDC i.e., 2021 WWDC was held online due to the ongoing Coronavirus Pandemic. Generally, the offline conference would be held in the San Jose convention center, California.
The WWDC 2021 was a free session for all developers. All the developers from worldwide could attend the conference and also get access to the future versions of iPadOS, iOS, macOS, tvOS and watchOS. The developers also could engage with Apple engineers through engineering sessions, one to one lab appointments and also the Apple Developer Forums which were revamped and improved ahead of WWDC 2021.
The tickets were given through an online lottery and the students and the members of STEM organizations were able to avail scholarships. Only the attendees above the age of 13 were allowed and they were also a member of the Apple Developer Programme.
Apple WWDC 2018
The WWDC had a strength of 2000 to 4200 members until the year 2007 and during the year 2007, Steve Jobs had announced that the WWDC had around 5000 attendees. The WWDC held during the year 2018 had around 6000 participants from around 70+ countries which included 350 scholarship participants.
Conclusion
WWDC 2021 hosted by Apple had provided the information and tools that were required to turn the ideas of the worldwide apple developer community and the next generation developer community’s dreams into reality. Apple has around 28 million developers around the globe.
FAQ
What is Apple WWDC21?
The all-online conference that used to take place every spring at Apple Park in California, offers insights into the future of Apple’s operating systems such as iOS, iPadOS, macOS, watchOS, and tvOS.
Where can I watch WWDC 2021?
WWDC 2021 was streamed live online from June 7 to 11, entirely virtual for the second year in a row.
Is the WWDC event free?
The WWDC event was held online due to ongoing coronavirus pandemic and was free for all developers.
Endorsement are nowadays a popular form of advertising that uses famous personalities or celebrities that have a higher degree of respect, recognition and trust among the people. Choosing the right celebrity is important because their image and personality enhances the features and image of the brand and helps in catching consumer attention or reaching out to the target audience.
One of the most popular endorser in India is the Bollywood icon, Aishwarya Rai Bachchan. Aishwarya is a one of the top actress’s in Indian and also the winner of the Miss World pageant in 1994. The actress is considered to be the most beautiful woman in the world by the media and an influential celebrity in India because of her successful acting career.
Aishwarya Rai has got several awards and accolades such as Filmfare, Padma Shri by the Indian Government and Ordre des Arts et des Lettres by the French Government. The actress is known for her work in movies such as Hum Dil De Chuke Sanam, Devdas, Guzaarish, Mohabbatein, Jodhaa Akbar, Enthiran, Ae Dil Hai Mushkil, Etc.
Besides her acting career Aishwarya is also a Goodwill Ambassador for the Joint United Nations Programme on AIDS (UNAIDS). Aishwarya Rai Bachchan’s net worth is estimated to be $31 million as of 2021. The Bollywood star is known to charge over Rs 5 to 6 crore for per endorsement deal.
The brands endorsed by the actress are LUX, L’Oreal Paris and Nakshatra Diamond Jewellery, Coca-Cola, Longines, Lodha Group’s, Pepsi, Titan Watches, Lakmé Cosmetics, Casio pager, Philips, Palmolive, Cadbury, Fuji Films, Kalyan Jewellers, De Beers Diamonds, Elegance, and TTK Prestige group.
Lets look at the List of Brands Endorsed by Aishwarya Rai Bachchan.
Longines
Longines also named as Compagnie Des Montres Longines Francillon S.A. is a Swiss luxury watch company from Saint Imier, Switzerland. The company founded by August Agassiz in 1832 and since then Longines has become one of the most well-known watchmaker. Longines later on became a subsidiary of the Swiss Swatch Group.
The company’s iconic winged hourglass logo is the oldest unchanged and registered trademark from 1889 and began using the slogan is Elegance is an Attitude from 1999. Aishwarya Rai Bachchan has been the face of the brand since 1999, and their ambassador for elegance for 22 years.
In 2019, the company celebrated the 20th year anniversary of their partnership by releasing a special timepiece named the DolceVita Elegance Celebration dedicated to Aishwarya.
Charles Villoz, the vice president of Longines said in an interview said that, “People from all over the world love Bollywood films and they go house full. Wherever we have travelled with the actress the response has been overwhelming. Aishwarya is a global face and we would like to continue this association as long as possible.”
L’Oreal Paris
L’Oreal Paris is a French personal care company that has its headquarters in Clichy, France. L’Oreal is currently the world’s largest cosmetics company and offers products for hair color, skin care, sun protection, cosmetics, perfume and hair care. The company has 42 manufacturing facilities around the world and R&D centres in France, U.S, Japan, China, and India.
It also has operations in more than 130 countries and over 50,500 employees. L’Oreal has also been ranked 353rd in the list of the Fortune Global 500. Aishwarya has been the global spokes model for L’Oreal since 2003.
The actress became a global ambassador for the #WinOverDamage campaign featuring. The ad for the campaign features Aishwarya Rai Bachchan and Sobhita Dhulipala, showcases the two actresses shooting in harsh conditions and then using the Total Repair 5 L’Oréal shampoo to protect their hair the next time.
Cadbury Dairy Milk is a very popular milk chocolate bar that is manufactured by the Cadbury. The chocolate bar was initially introduced in UK in 1905 and now the brand has a wide range of products. Cadbury’s is available in India, Kazakhstan, China, Sri Lanka and Pakistan.
As of 2014, the chocolate was ranked as the bestselling chocolate bar in the UK. It is manufactured and distributed by the renowned Hershey Company in America under the license from Cadbury. The company signed Aishwarya Rai Bachchan as the face for the new Cadbury Dark Milk (dark chocolate bar) sold in India. The advertisement that features the Aishwarya, aims to appeal to an advanced, matured audience who enjoy varied experiences in their free time indulgent moments.
Anil Viswanathan, the marketing director of Mondelez India in an interview said that, “There could not have been a another brand ambassador than Aishwarya Rai Bachchan to introduce Cadbury Dark Milk as the actress truly embodies the exceptional appeal of this new product innovation with her ground-breaking milestones. Her prestige and repute make her stand out as an accomplished, matured sophisticated individual.”
Nakshatra Diamond Jewellery
Nakshatra Diamond Jeweler is a jeweler brand from Gitanjali Gems which known to be one of India’s largest integrated jeweler companies in 1966. The brand was launched in 2000 and quickly became popular for its unique and affordable take on diamond jewelry.
Nakshatra offers more than 200 new designs, which is available as pendants, rings, earrings and bracelets starting at Rs. 8000 onwards. Nakshatra jewelry is available in all major jewelers stores across India. Aishwarya Rai Bachchan became Nakshatra’s brand ambassador in 2003 and has since then appeared in many ad commercials which has helped the brand double its sales and establish itself as a leading player in the market.
Commenting on the association, Devika Gidwani, the Director of Diamond Information Centre said that, “The Nakshatra woman is mystical, ethereal and feminine, which epitomise none other than Aishwarya Rai. In her rare and enduring beauty we have found our Nakshatra Woman. The actress stands for the brand values which are simple yet classic, Indian yet contemporary. With Nakshatra we aim to provide the women of today a products that are wearable, yet unique.”
Lux is a popular brand that is owned by Unilever with its headquarters based in Singapore. The brand offers a huge variety of products ranging from beauty soaps, shower gels, bath additives, hair shampoos to conditioners. The brand initially started out with “Sunlight Flakes” which was a laundry soap in 1899.
Since then the lux products are marketed in countries like Brazil, Pakistan, China, Bangladesh, and South Africa, and sells soap bars in India, Pakistan, Brazil, Saudi Arabia, Bangladesh, Thailand, and Vietnam. Lux currently manufactures its products at 71 facilities and also has over 2000 suppliers.
The company fist partnered with Aishwarya in 2005, the actress has been the face of the brand for more than 20 years. The actress has brought the allure of LUX alive with each campaign in uniquely different avatars like bold, playful, bubbly, glamorous and romantic. She has also been featured in many iconic and memorable campaign with other actresses.
Speaking of her association with Lux, Aishwarya Rai Bachchan said that, “I have been associated with the company for the past 10 years as its brand Ambassador and this association holds a very special place in my heart. An actress’s career reaches new heights with the Lux alliance. I am truly honored to be the face of an iconic brand like Lux for over a decade now and it has so far been an enjoyable and momentous journey.”
TTK Prestige
TTK Prestige Ltd is an Indian conglomerate that is popular for its kitchen appliances and cookware under the prestige brand. The TTK Group was founded in 1928 by Mr. T.T. Krishnamachari who was known for the distribution of products such as Foods, Personal care products, Writing instruments, to Ethical products.
Now, however the group has a portfolio of 30 product with 7 group companies and a turnover that cross 30 Billion rupees. The company made the Bollywood couple Aishwarya Rai Bachchan and Abhishek Bachchan as its brand ambassador. The celebrity couple were features in many multimedia ad commercials with its tagline “Jo biwi se kare pyaar, woh Prestige se kaise kare inkaar’.
In the ad the duo are portraying the role of are busy working couples and find kitchen a perfectly good place to bond. Commenting on the association, Aishwarya said that, “Endorsing India’s No.1 kitchen appliances brand is a great opportunity and we are privileged to be associated with Prestige.”
Coca-Cola is a world famous carbonated soft drink that is manufactured by the Coca-Cola Company. The drink was invented in the 19th century by John Stith Pemberton but was later bought by Asa Griggs Candler who made the company a leader in the world soft drink market with innovative marketing techniques throughout 20th century.
According to Interbrand’s best global brand in 2015, Coca-Cola was declared as the world’s third most valuable brand after Apple and Google. As of 2013, the company sold over 200 countries worldwide, and has sold over 1.8 billion servings every day. The company was ranked 87 by its total revenue in the list of Fortune 500 in 2018.
Aishwarya has endorsed the drink in various multimedia ad commercials. The actress has even done commercials with Aamir Khan which became popular back in the day. Another popular coke advertisement featuring aishwarya showcases storyline runs against the backdrop of a Haryanvi pop number with Rajpal Yadav.
Kalyan Jewellers
Kalyan Jeweller is a well-known Indian jeweler showroom chain that is present in overall metropolitan cities of India and counties of West Asia. Kalyan Jewellers has over 8000 employees and is known for its wide various product lines like Muhurat, Mudhra, Rang, Anokhi, Ziah, Rang, etc.
The company currently holds a strong presence especially in South India, with over 35 stores across four south Indian states. Kalyan Jewelers has its headquarters in Thrissur, Kerala with 137 retail stores across India and Middle East, and more than 30 showrooms spread across UAE, Qatar, Kuwait and Oman, as of 2020. Aishwarya became the brand ambassador for Kalyan Jewellers in 2012 and has also done a commercial with Amitabh Bachchan.
Commenting on the association, T.S. Kalyanaraman, the Managing Director of Kalyan Jewellers said that, “Aishwarya’s popularity and stardom at an international level is unparalleled. We are sure that the actress’s personality and life which is the right balance of professional and personal success, style and substance, international acceptance and family orientation will take our brand to greater heights.”
Aishwarya Rai Bachchan is a one of the top actresses in Indian and also the winner of the Miss World pageant in 1994.
How much does Aishwarya Rai Bachchan charge for brand endorsement?
Aishwarya Rai Bachchan is known to charge over Rs 5 to 6 crore for per endorsement deal.
What is the net worth of Aishwarya Rai Bachchan?
The net worth of Aishwarya Rai Bachchan is estimated to be $31 million as of 2021.
Conclusion
Usually when companies choose their brand ambassador, they often look for factors such as their commercial success, visibility and digital presence. Aishwarya encompasses all these factors, is a global star known to be one of the most beautiful women in the world.
According to the Time Magazine, Aishwarya is in the list of the 100 most influential people of the world and is sometimes also regarded as the global ambassador of India by the media. These are the reasons to why the actress is still in demand not just among Indian but even International brand.
Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. The company was founded by Motilal Oswal and Raamdeo Agarwal in 1987 as a small sub-broking unit, with just 2 people running the show. The company is listed on BSE and NSE stock exchanges. The company offers loans for home, construction, composite, improvement, and extension in India
The company entered into investment banking in 2005, followed by private equity fund in 2006. The company focuses on customer-first attitude, ethical and transparent business practices, respect for professionalism, research based value investing and implementation of cutting edge technology. Which have enabled the company to blossom into an over 6000 member team. On January 2010, Motilal Oswal Financial Services Ltd. set up Mutual fund business named as Motilal Oswal Asset Management Company (MOAMC).
Today we are a well-diversified financial services firm offering a range of financial products and services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking,Private Equity, Commodity Broking, Currency Broking, and Home Finance.
They have a diversified client base that includes retail customers, mutual funds, foreign institutional investors, financial institutions and corporate clients. They are headquartered in Mumbai and as of September 2020, had a network spread over 550 cities and towns comprising 2500 plus Business Locations operated by their Business Partners.
Read on to know more about the different Motilal Oswal business models and how you can work with them!
Motilal Oswal Franchise model is one of the multiple business models this full service stockbroker has to offer to potential business takers. The broker claims to have a presence in around 570 cities and 2200 plus locations across different parts of the country. Furthermore, there are around 2300 business partners associated falling in one business model or the other. It entered into the foray of franchising in the year 1999.
Motilal Oswal has a partner strength of more than 1400 through its various business models and provides services at both retail and institutional levels such as Motilal Oswal Demat Account opening Motilal Oswal offers sub broker business models through which their approach towards business partners is that of being an extension of their brand and an extension of the family. This full service stockbroker claims to provide the following benefits to its business partners:
Back office Support – Helps in Risk management and Business operation Assistance.
Stock market research and advice – helps in research reports, Advisory, strategies.
Business development opportunities – helps in onboarding assistance, mentorship programs and Technology support through an exclusive mobile app.
Technology assistance through trading products – helps in trading platforms and portfolio tools.
You can be a Motilal Oswal business partner in the following ways:
Franchise
Individual or businesses that are looking to expand their financial footprint can opt for the Motilal Oswal franchise model. You need to have a requisite office space along with a small team that can handled day to day operations. Entrepreneurs who think they have a dream to grow big and have the passion and the capability to pursue the journey towards their dream. With all the initial expenses taken care of, you get a revenue sharing of 60% of the brokerage generate by them.
The eligibility for this model are good and consistent reputation in the financial space, a refundable deposit of INR 3 lakh to be made to the full service stockbroker and an experience of 2 to 3 years in the streams of broker or sub broker. They must also have a minimum investment of INR 5 lakh to INR 10 lakh at the onset with reasonable wallet for infrastructure related expenses and an area of 150 to 200 sq. ft. to set up an office in a year.
Benefits of joining Motilal Oswal are:
Comprehensive Business development Initiatives.
Strong Mentorship form Senior Management.
Robust Back Office and Operations Support.
Solid Research and Solid Advice.
How Motilal Oswal will build your business:
Superior Technology Platform for Multiple Products.
Dedicated Onboarding and Engagement Services.
Time tested and proven New client Acquisition strategies.
Full proof client shifting/business migration process.
Employee to Entrepreneur
This program is specifically for people who are either an employee at a stockbroking house or have a reasonable experience in the stock market. The eligibility criteria for this business model is that you must either be an employee of any stockbroking company or must be direct stockbroking experience. It’s for those who want to start their own business. Even in this model you get to keep a specific percentage of the overall revenue generated through your addition to the program. This percentage can range from 30% to 40% of the overall revenue.
The benefits under this model are:
No limits to your career growth.
Opportunity to create a legacy for your future generations.
Extend your working life with your own business.
Customize your business according to your area of expertise.
How Motilal Oswal can help in the employee to entrepreneurs sector:
Get insights from our entrepreneurial experience of growing a broking business.
Get a product suite to fulfill every need of your client.
Get access to our famed Solid Research and Advice.
Get readymade Back Office Infrastructure and Risk Management Systems.
Remisier
This business model of Motilal Oswal does not require any upfront capital expenditure to set up the business. An individual looking to spend nothing on the office infrastructure cost may try out this business model. The idea is simple, they provide interested business leads to Motilal Oswal and brokerage generated from the converted clients will have a share for the remisier. However the broker claims that it will provide all kinds of tools, research and other related assistance for client/lead acquisition.
The eligible criteria for setting up a remisier business model with Motilal Oswal are reasonable reputation and hold of potential client base in the financial space, sales experience of at least 2 to 3 years of financial products, an operational expense capacity of INR 1 lakh. Entrepreneurs wanting to set up their business at no capital cost and largely work independently.
The benefits of this model are:
Build your business with minimal costs.
Complete infrastructure support available.
No initial set up costs. Robust advisory support.
Dealing support at branches.
How Motilal Oswal can help set up their business:
Zero Infrastructure and support costs.
Superior Technology Platform for multiple products.
Support at local branches for dealing.
Support for new client acquisition.
Motilal Oswal Products and Services
Channel Partner
This business model of Motilal Oswal channel partner is more of a collaboration with the broker rather than working under the broker. In case you are already working with a specific set of clients for stock market trading, then you may choose to opt for this business model. The idea, in this case is to offer the existing client base of yours with other potential investment opportunities apart from the ones they are already into.
The eligibility criteria in case of a channel partner program is an active set of clients trading or investing in the stock market. Since channel partners are going to bring investor base to the full service broker, they get better revenue sharing on new investment products sold (which is anything from 50% to 60%). Those who would like to collaborate with us to cater to a wider range of clients and partake in the revenue pie of the complete financial intermedia on opportunity.
Benefits of being Motilal Oswal channel partner:
Comprehensive business development initiatives.
Strong mentorship from senior management.
Robust back-office and operations support.
Solid research, advice and advisory products.
How Motilal Oswal help build your business:
Superior technology platform for multiple products.
Dedicated customer acquisition and Engagement Services.
Staffing & training support.
Multiple Assets – one stop shop for your clients.
Digi Partner
It is a unique partnership model where you’re end to end business right from acquiring clients, account opening, business operations, product suggestions, advisory product Investments, and moderation is done digitally. As the name suggests, Digi-Partner is a unique partnership model where you’re End to end business right from acquiring clients, account opening, business operations, product suggestions, advisory product Investments and moderation is done digitally.
Benefits of joining Motilal Oswal Digi Partner:
No compulsion of office infrastructure.
Online Funds & Securities pay-in and pay-out facility.
Call-N-Trade dealing service support.
Easy client account opening plus lucrative brokerage.
How the company can help you build your business:
Extended business development support.
Dedicated reactivation desk.
Technology support with Uppermost.
Multiple asset classes to cross sell.
Motilal Oswal – FAQs
What is Motilal Oswal Sub Broker Commission?
Taking into account the entitlements, precisely in terms of the revenue, there is a higher ratio of revenue that you will retain. There is a flexible revenue sharing provided by the stockbroking house, where 60% – 80% is provided to the sub-broker.
Which is the cheapest brokerage in India?
5Paisa is a part of IIFL (India Infoline) and offers the cheapest stock brokerage in India. IIFL launched 5Paisa to offer a lower brokerage platform for its clients and to compete with the fast-growing discount broking industry.
What is the lowest brokerage charges in India?
The minimum brokerage charge by the full-service brokers is the minimum commission they charge for trading with them. With a brokerage of 0.50%, if the total trade value is less than INR 7000, you will pay the minimum brokerage amount of INR 35.
Which broker is best in India?
Zerodha is one of the best brokers in India.
Who owns Motilal Oswal?
Passionate Investment Management Private Limited is the parent organisation of Motilal Oswal.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Froogal.
In a time when rising customer expectations have forced businesses to think on their feet and expand their services beyond the traditional shopping experience, a platform that can drive loyalty programs for consumers is a must for every business. To exploit this idea into a successful startup, Jeevan Chowdary and Harshit Harchani launched Froogal in 2017.
Froogal mainly operates in SaaS, more specifically – Customer Experience, Customer Loyalty, Marketing automation, Customer Experience, CRM & Data Analytics, Automation, Marketing, Digital Transformation, Feedback Management, Business Intelligence tools.
StartupTalky interviewed Froogal CEO Jeevan Chowdary to get a better understanding of this Hyderabad based startup.
Froogal is a Omni-channel cloud based Customer Loyalty & Engagement Platform and has been a pioneer in delivering multiple consumer oriented Industries to build Customer Centricity by modernized and personalized interactions with Consumers to drive incremental Revenues.
Froogal.ai is a customer loyalty programmed management platform, which provides customers with aspirational rewards that are customized and goes beyond traditional cash rewards.
Froogal’s main range of products include:
Customer Loyalty & Management.
Customer Experience Management.
Customer Analytics with predictive and data-driven Insights.
Engagement Marketing with advanced automation techniques via SMS / Email / Push
Notification and Social Media etc.
Offer Engine with Mobile Marketing tools, Referral Marketing tools.
There are also a few more flagship products in the stream:
Froogal Seamless– It helps businesses adapt to omni channel marketing strategy i.e. Creating an ecosystem for business to enhance their sales channels across web, mobile, etc.
Froogal Consumer App– Froogal Consumer App is “World’s #1 Digital Loyalty Wallet”. It helps consumers digitize all their reward cards at one place, while it allows consumers to go cashless and with much other value
All in all, Froogal helps companies develop loyalty programs that can drive repeat business as well as build a community of loyal brand advocates by building the bridge between brands and customers at every stage of the customer lifecycle. It drives revenue for brick and mortar businesses by collecting critical customer data, then using it to deliver automated, personalized marketing campaigns that drive real ROI. Froogal acts as an intelligent tool for a CXO business, automating most of the marketing needs.
Froogal focuses on knowing, retaining every customer and ensuring customer loyalty. The company offers a SaaS-based product in different packages like (Starter, Growth, Professional, and Enterprise) targeting the different sizes of customers across SMEs and Large Enterprises both.
Froogal works with the aim to help businesses and customers build a relation for life because it is very important to understand the target audience in business and if a company does that right, it is on track for success. The basic idea is to address the pain points faced by millions of Brick-and-Mortar businesses across the globe and turn them successful. In other words, the motive is to help clients grow into an affluent firm with distinctive & considerable improvement in performance by retaining their customers.
Some major USP of Froogal are –
Most Loyalty Programs target only mom-and-pop stores, but Froogal targets successfully both Mom-and-Pop and big Chains.
Froogal has got More Advanced Loyalty Systems overcoming the traditional ways where the Strategy plays a key role in making it more contextual & emotional for the customer to retain and engage. It is one of its kind built with Artificial Intelligence and Machine Learning.
Froogal took over the Omnichannel way at every module where Customers engage with Business and makes it seamless for customers to redeem rewards, complain and engage through any channel.
Deeper Analysis & More Intelligent in Personalized Marketing- Froogal Consumer App (App that Digitizes One’s Reward Cards at One Place).
Froogal offers cost-effective packages for various businesses and helps businesses achieve higher ROI.
Froogal- Founders and Team
Jeevan Chowdary and Harshit Harchani are the Founders of Froogal.
Jeevan Chowdary and Harshit Harchani | Founders, Froogal
Froogal founders Jeevan Chowdary and Harshit Harchani are alumni of IIIT Hyderabad, and the idea to start their own business was there in their minds while they were still in college.
“We were working on a project for a while and when we graduated we decided to kick off our own product. My co-founder has been very supportive and the belief we have in each other and the same morale we share and our product has got us here today.” Jeevan quotes.
As regards division of responsibilities between the founders, Jeevan Chowdary is currently operating as the CEO of Froogal and takes care of the entire business operations, sales, and marketing.
Froogal CTO, Harshit Harchani takes care of the entire Technical development of the product.
Froogal currently has 50+ employees.
Froogal Team
How was Froogal Started?
Customers are the inspiration here. While working on the very first project, during their college days, Jeevan and Harshit got a chance to work with a variety of stakeholders across many industries, especially small businesses. Both of them quickly realized that while different sectors of the market have different needs, no one, in particular, had focused on what would help small businesses flourish keeping in mind their limited operation management, lack of familiarity with technology, lack of access to expertise and marketing and most importantly budget. After talking to more than 500 such businesses they realized that they were not happy with the value of existing products and then at Froogal, they set upon this journey to provide the best value to businesses of various sizes, while working hand in hand with them at every point.
“From ideation to prototyping to customer endpoints we brainstormed solutions with our customers to enhance the value proposition, dig into real problems and develop a product which solved the real day to day problems they face with a minimal cost, along with which the rejection of dejection, and with perseverance, we showed in making it perfect and frugal for the business owners.” said Jeevan on the ideating stage of the venture.
Any businesses share the same end objective i.e., to generate greater revenues in a cost-effective way and delivering good customer experience and service. So is the name Froogal which is obtained from the word Frugal.
Froogal – Startup Launch
The first launch of the Froogal product happened with a customer. Once the team had the first Pilot deployment, they worked closely with them, wearing all hats to iron out all issues and proactively providing solutions to streamline the process. Since the revenue stream is generated through subscriptions and no other strategy, experience for the customers is paramount and the team leaves no efforts in that end. They realize that the product and the experience they provide speaks for itself and are happy to rely just on word of mouth for their promotions.
Froogal – Business Model and Revenue Model
The Froogal business model follows a SaaS business model. It works on a monthly subscription model, and its pricing ranges from 2500 per month – 15000 per month per location. Subscription charges varies based on the size and the business requirements along with other managed services for brick and mortar businesses, and also depending on the different models and segments.
Froogal – Startup Challenges
“Technology has been a passion for us. And necessity is the mother of Innovation.” Jeevan
While running their very first project, Jeevan and Harshit got a chance to meet a lot of different business owners from different industries especially in the SME segment. Every business certainly has problems in managing their operations or marketing due to lack of either technology, expertise or budgets. What intrigued this duo was that every business owner wants to excel in their own business at the low-cost model and they took that as a challenge and explored how technology can help drive revenues by simplifying and automating most of their needs at an affordable cost.
Froogal – Funding and Investors
Froogal has raised funding worth $ 1 million in pre-series A in December 2019. The information about the angel investors remains confidential.
Besides having offices in Hyderabad, Bangalore and Mumbai in India, Froogal also has an office in the USA.
Froogal is currently serving 350+ clients, including brands like ‘Cream stone’, ‘Thickshake Factory’, ‘BIG C’, ‘LOT’, ‘Over the moon’, ‘Pista house’ and ‘Biryanis and more’
Froogal – Conclusion
Froogal offers a one stop solution platform that provides end to end technology to understand, retain and engage your customers through omni channel digital strategy, leading to deeper and data driven relationship with your customers. They have an expertise team focusing strongly on unique mix of Strategic Consulting, Creative, Operations support services driving you with actionable intelligence that can help drive incremental revenues and optimum profitability.
Froogal – FAQs
What is Froogal?
Froogal is a customer loyalty programmed management platform, which provides customers with aspirational rewards that are customized and goes beyond traditional cash rewards.
Who are the Founders of Froogal?
Jeevan Chowdary and Harshit Harchani are the Founders of Froogal.
How does Froogal make money?
Froogal follows a SaaS business model- It works on a monthly based subscription model, and its pricing ranges from INR 2500 per month – INR 15000 per month per location.
How much Funding is raised by Froogal?
Froogal has raised funding worth $ 1 million in pre-series A in December 2019. The information about the angel investors remains confidential.
Samsung is a South Korean electronic gadget manufacturer in Samsung Town, Seoul. Samsung Electronics was established by Lee Byung-Chul in 1938 as an exchanging organization.
We all know this information about Samsung. Don’t we? But what we don’t know? Do you know how much Samsung has grown in these years? What are the Future Plans of Samsung? How much Samsung invested in its R&D? What difficulties did the company face coming all this way? What is the history behind this multinational conglomerate?
Don’t worry we got you covered. We have penned down a detailed Case Study on Samsung Electronics. Let’s find out in this thoroughly studied Samsung case study.
Let’s start the detailed case study from here.
Samsung entered the electronics industry in the late 1960s and the development and shipbuilding ventures in the mid-1970. Following Lee’s demise in 1987, Samsung was divided into five business groups – Samsung Group, Shinsegae Group, CJ Group, Hansol Group and Joongang Group.
Some of the notable Samsung industrial subsidiaries include Samsung Electronics, Samsung Heavy Industries Samsung Engineering, and Samsung C&T (separately the world’s 13th and 36th biggest development companies). Other notable subsidiaries include Samsung Life Insurance, Samsung Everland, and Cheil Worldwide.
Samsung has a powerful influence on South Korea’s monetary advancement, legislative issues, media, and culture. Samsung has played a significant role behind the “Miracle on the Han River”. Its subsidiary organizations produce around a fifth of South Korea’s complete exports. Samsung’s revenue was equivalent to 17% of South Korea’s $1,082 billion GDP.
In 1938, Lee Byung-Chul (1910–1987) of a huge landowning family in the Uiryeong region moved to nearby city Daegu and established Samsung Sanghoe.
Samsung began as a little exchanging organization with forty representatives situated in Su-dong. It managed dried fish, privately developed staple goods and noodles. The organization succeeded and Lee moved its head office to Seoul in 1947.
When the Korean War broke out, Lee had to leave Seoul. He began a sugar processing plant in Busan named Cheil Jedang. In 1954, Lee founded Cheil Mojik. It was the biggest woollen factory in the country.
Samsung broadened into a wide range of territories. Lee wanted to build Samsung as a pioneer in a wide scope of enterprises.
In 1947, Cho Hong-Jai, the Hyosung gathering’s organizer, put resources into another organization called Samsung Mulsan Gongsa or the Samsung Trading Corporation with Samsung’s founder Lee Byung-Chul. The exchanging firm developed into the present-day Samsung C&T Corporation.
After few years in business, Cho and Lee got separated due to the differences in the management style. In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and entered the telecommunications market. During the initial days, it sold switchboards.
1987 (Demise of Lee Byung-Chul)-
After Lee’s demise in 1987, the Samsung Group was divided into four business gatherings—Samsung Group, Shinsegae Group, CJ Group, and the Hansol Group.
One Hansol Group agent stated, “Just individuals uninformed of the laws overseeing the business world could think something so ridiculous,” while also adding, “When Hansol got separated from the Samsung Group in 1991, it cut off all installment assurances and offer holding ties with Samsung subsidiaries.”
One Hansol Group source attested, “Hansol, Shinsegae, and CJ have been under autonomous administration since their particular divisions from the Samsung Group.”
One Shinsegae retail chain official executive stated, “Shinsegae has no installment certifications related to the Samsung Group.” In 1982, it constructed a TV get-together plant in Portugal, a plant in New York in 1984, a plant in Tokyo in 1985 and an office in England in 1996.
2000 (Samsung in 20th Century)
In 2000, Samsung opened a development center in Warsaw, Poland. It started with set-top-box technology before moving to TV and cell phones. The cell phone stage was created with accomplices and formally propelled with the first Samsung Solstice line of gadgets and different subordinates in 2008. It later emerged into the Samsung Galaxy line of gadgets that is Notes, Edge, and other models.
In 2010, Samsung declared a ten-year development system based on five businesses. One of these organizations was to be centered around bio-pharmaceuticals in which ₩2,100 billion was invested.
In the first quarter of 2012, Samsung Electronics turned into the world’s biggest cell phone creator by unit deals, surpassing Nokia which had been the market chief since 1998.
In 2015, Samsung was granted U.S. patents as compared to other organizations like IBM, Google, Sony, Microsoft, and Apple. Samsung got 7,679 utility licenses before 11 December 2015.
On 2 August 2016, Samsung Electronics revealed the Galaxy Note7 smartphone, which went on sale on 19 August 2016. At the beginning of September 2016, it halted its selling of smartphones due to some problems with the smartphones. Samsung suspended the selling of the smartphones and recalled its units for inspection.
This happened after certain units of the telephones had batteries with a deformity that made them produce extreme warmth, prompting flames and blasts. Samsung replaced the reviewed units of the telephones with a new version. It was later found that the new version of the Galaxy Note 7 also had the same battery deformity.
Samsung recalled all Galaxy Note7 cell phones worldwide on 10 October 2016 and permanently ended its production on the same day.
Samsung’s Business Strategy
Business Strategy of Samsung Electronics
Great business strategies have been applied by Samsung over the years. Not very far back, Samsung wasn’t as famous as now. Samsung has now advanced so much that it is the principal contender of Apple Inc. Samsung is the biggest tech business by income and the seventh most significant brand today. The showcasing procedure it applied encouraged Samsung electronics to turn into an industry driving innovation organization.
The Samsung marketing strategy was one of the best systems at any point because it helped a cost-driven organization to change its structure and become a power producer. Due to the consistently changing tastes of purchasers in the innovation business, organizations needed to pursue the pace and offer dynamic and advancing devices to their clients. In this way, Samsung additionally needed to change to pick up the high ground available, and the new Samsung showcasing methodology was the way to advancement.
Some of the business strategies of Samsung Electronics are listed below:
Promotional Mix Of Samsung
Samsung has arrived at fantastic statures with its cell phones which helped the brand to turn into an image of value and unwavering quality for its purchasers.
Samsung Marketing Mix Pricing Strategy and Samsung Advertising Methodology are the two estimating techniques used by the organization. Other than its items, Samsung is celebrated for its customer support. However, item variety is the most dominant part of the promoting blend of Samsung.
Skimming Price
Like Apple, Samsung uses skimming costs to pick up the high ground over its rivals. For example, Galaxy S6 and S6 Edge are the brand’s new results of Samsung conveying the trademark “Next is Now” and guaranteeing that they are the best smartphone maker at any point made.
What will happen when different contenders will dispatch a cell phone with indistinguishable highlights? Straightforward. Samsung will bring down the cost and effectively steal the customers from its competitors.
Focused Pricing
Samsung experiences issues in increasing an edge over its rivals with different items. Doubtlessly, Samsung is a credible brand. However, regarding home appliances, it can’t be in any way, shape, or form outperform LG In the cameras segment and other home appliance units. Also, Samsung cannot compete with Canon and Nikon.
For Samsung to withstand this savage challenge, it’s crucial to utilize aggressive valuing of its products. Moreover, Samsung is neither a newbie underway nor non-inventive. For the most part, it is often the first company to be innovative with its products and present a change among its competitors.
Putting in Samsung Marketing Strategy
Samsung uses divert advertising strategies. Retailers who present the innovation chain will undoubtedly incorporate Samsung in their rundown on account of the firm being a world-celebrated brand. Samsung can likewise fill in as an option for the purchasers. The circulation is a convincing piece of the Samsung promoting methodology.
In specific urban communities, Samsung has an agreement with a solitary dissemination organization that circulates the items all through the city. For example, Mumbai is an incredible case where Samsung conveys its products through a solitary organization.
Samsung Rides High In India
Profits of Samsung Electronics (Credit-Statista)
The greatest leader by far in the smartphone business is Samsung Electronics, the world’s greatest cell phone and TV producer.
Samsung is India’s greatest, versatile brand. It is the developer of Reliance Jio’s 4G LTE system — the greatest and busiest information system on the planet.
Discernments, advertise wars, openings, rivalry — now and then from conventional remote adversaries, from nearby upstarts, and emerging Chinese brands trouble Samsung.
Be that as it may, every time Samsung has had the option to fight off the dangers and hold its ground. It has been leading the market in the TV fragment for more than 12 years and in the versatile business for a long time after it toppled Nokia in 2012.
Riding The Smartphone Wave
As indicated by some statistical surveying firms following cell phone shipments, Chinese firm Xiaomi is creeping nearer — or has even surpassed Samsung after December 2017 quarter.
While for the entire year 2017, Samsung was No. 1 in the cell phone space, IDC information indicated Xiaomi drove the last quarter with 26.8% piece of the overall industry. Samsung was at 24.2%. Different players, for example, Vivo, Lenovo, and Oppo stayed at 6.5, 5.6, and 4.9%, separately.
Warsi, who has been working with Samsung for as far back as 12 years and has as of late been advanced as Global Vice President, is unflinching, “These difficulties offer us the chance to work more earnestly for our customers and with our accomplices.
Furthermore, shoppers love marks that emphasis on them,” he says. “Samsung is India’s No. 1 cell phone organization crosswise over sections — premium, mid and reasonable. That is what makes a difference.”
Statistical surveying firm GfK tracks disconnected offers of handsets — which make up around 70% of the market — in which Xiaomi is attempting to make advances.
Samsung had a 42% worth piece of the overall industry in the general cell phone showcase in the nation in 2019 and 55% in the superior fragment as indicated by GfK. An industry official who would not like to be named says that India must be Samsung’s greatest market by large volumes.
The thought currently is to become the cell phone business which gets more worth. As indicated by reports, Samsung India’s incomes from cell phone deals in 2018-19 remained at an astounding INR 34,300 crore. That is over $5.5 billion and development of 27%. Samsung’s nearest adversaries are talking about incomes of $1 billion in India, going up to $2 billion.
Samsung is the world’s largest manufacturer of consumer electronics by revenue. As of 2019, Samsung Electronics is the world’s second-largest technology company by revenue, and its market capitalization stood at US$301.65 billion, the 18th largest in the world.
Shopper Is At The Center
Growth of Samsung Electronics (Credit-canalys)
Samsung is a worldwide advancement powerhouse that leads the patterns. It profoundly put resources in India — 22 years of connections in the exchange, and tremendous interests in neighborhood R&D. It has around 10,000 architects working in research offices in India and is perhaps the greatest scout from the IITs.
“Samsung has a solid brand picture in India, as it has been available in various customer electronic portions with quality items for quite a while now. The brand is trusted because of its long history in the nation, dish India nearness, and a vigorous after deals support for buyers,” says Shobhit Srivastava, explore expert at Counterpoint Research.
Indeed, even an item fizzle of the size of the Galaxy Note7 in September 2016 couldn’t affect Samsung. While the organization was fast enough to get back to every one of the units that had been sold and cease the gadget totally, Samsung’s activities and ensuing effective dispatches of leads like Galaxy S8, Note8, the Galaxy S9 and S9+, which were propelled in February, rescued the harm and raised the profile of the brand as a dependable organization. “They rushed to concede their error and that helped them interface with the perceiving clients of today far superior,” says Koshy.
Make For India
Samsung’s system ‘Make for India’, which resounds with the administration’s ‘Make in India‘ activity, was conceived in the late spring of 2015. Samsung India’s new President and CEO, H.C. Hong, had recently moved in from Latin America and was looked with the prompt tough assignment of fighting a firm challenge from two nearby versatile organizations that is Micromax and Intex.
Samsung’s customer hardware business containing TVs, fridges, and other advanced machines were additionally confronting challenges from Sony and LG.
Around a similar time, the legislature of India propelled its ‘Make in India’ activity. “In this way, Mr. Hong revealed to us we have been doing Make in India effectively for two decades. What we should concentrate on widely to remain on top of things is Make for India (MFI),” says Dipesh Shah, Managing Director of Samsung R&D Institute in Bengaluru, the greatest R&D community for Samsung outside Korea.
Truth be told, the R&D focuses in India contribute intensely to the improvement of worldwide items, for example, Samsung’s lead cell phones (Galaxy S9 and S9+). While different organizations focused on propelling their worldwide items in India, Samsung went about rethinking items for the nation at its R&D focuses.
India is significant for Samsung, thinking of the nation as the second biggest cell phone showcase on the planet today, and it is possibly the greatest undiscovered market for some advanced apparatuses. The entrance of iceboxes, clothes washers, microwaves, and forced air systems are appallingly low because of components like the accessibility of continuous power, social conduct, way of life, and earnings.
Business Growth in India
Business Growth of Samsung
Samsung India crossed the INR 50,000 crore deals achievement in 2017 according to the simply distributed organization filings with the Registrar of Companies (RoC), uniting its situation as the nation’s biggest unadulterated play purchaser products MNC. The Korean mammoth’s all-out salary, including turnover and other pay, developed by 15.5% to INR 55,511.9 crore in FY 2017 from INR 48,053 crore in the earlier year regardless of Chinese organizations making genuine advances into the Indian cell phone advertise.
Samsung’s cell phone business developed deals at 26.7% to INR 34,261 crore, while the home apparatus business developed by 12% to INR 6,395.6 crore. The organization’s TV business stayed dormant at INR 4,481.2 crore even though Samsung held the market initiative.
The organization’s net benefit developed at a quicker pace of 38% to INR 4,156.2 crore which industry examiners credited to more concentrate on premium models crosswise over cell phones and customer hardware having higher edges.
Samsung, in its filings, said the ‘Make for India’ activity, through which a large portion of the items was planned and created given the Indian customer’s needs, has been an enormous achievement and a major factor behind the development.
All the units at Samsung India improved their gross productivity with the TV business dramatically increasing it and the home machine business nearly trebling it. The cell phone business was the biggest supporter of gross benefit having developed by 44% in FY17 at INR 5,005.9 crore.
Future Plans of Samsung
Samsung Future Plans
Samsung has arranged a new venture of around INR 2,500 crore to transform its India tasks into a center for parts business, two senior industry administrators said. The ventures could be increased further, they included. The Korean organization has set up two new parts fabricating substances in India—Samsung Display Co and Samsung SDI India—for the generation of cell phones and batteries.
Independently, Samsung’s funding arm—Samsung Venture Investment Corp—has set up activities in India to support new companies in gadgets equipment and programming organizations. The segment organizations will supply items to both Samsung India and other cell phone merchants who as of now source parts from Samsung’s abroad tasks.
Samsung sees a big opportunity for segment business considering the administration’s push on ‘Make in India’ where expense on imported cell phone segments and purchaser hardware is going up, the administrators said.
Samsung is likewise pitching to the administration for fare impetuses so it can even fare segments from India. Samsung Display has just marked an update of comprehension with the Uttar Pradesh government for an INR 1,500 crore plant for assembling telephone show to be operational by one year from now April. The plant will come up in Noida, the administrators said.
Samsung SDI India has plans to set up an assembling unit in India for lithium-particle batteries after the organization was drifted a month ago, according to its administrative filings with the Registrar of Companies (RoC).
As per the administrators, Samsung SDI has plans to contribute another INR 900-1,000 crore and will settle the plans after counseling with the Center post general races. These speculations come after it introduced the world’s biggest cell phone fabricating unit in India a year ago at an all-out cost of INR 4,915 crore. It is expected to be completed in 2020.
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FAQ’s
Who is the owner of Samsung Electronics?
Samsung Group is the owner of Samsung Electronics.
Who is the Founder of Samsung?
Samsung Electronics was established by Lee Byung-Chul (1910–1987) in 1938 as an exchanging organization.
Who is the current CEO of Samsung?
Kim, Ki Nam, Kim, Hyun Suk and Koh, Dong Jin are the current CEO of multinational conglomerate Samsung.
What does Samsung Electronics make?
Samsung Electronics produces smartphones, TV sets, laptops, solid-state drives, digital cinemas screens, etc.
Is Samsung a Chinese company?
Samsung is a South Korean electronic gadget manufacturer in Samsung Town, Seoul.
What is Samsung’s strategy?
Some of the business strategies of Samsung Electronics are listed below:
Promotional Mix of Samsung
Skimming Price
Focused Pricing
Putting in Samsung Marketing Strategy
How large is Samsung Electronics?
Samsung is the world’s largest manufacturer of consumer electronics by revenue. Samsung Electronics is the world’s second-largest technology company by revenue, and its market capitalization stood at US$ 301.65 billion, the 18th largest in the world.
What are the future plans of Samsung Company?
Samsung has arranged a new venture of around INR 2,500 crore to transform its India tasks into a center for parts business, two senior industry administrators said.
Parnas Ghosh
