StartupTalky

Tag: 🔍Insights

  • Business Model of Honey | How does Honey makes Money

    Honey is a software extension that helps you find suitable coupon codes for the product you have sold. Honey was started in 2012 in Los Angeles with the sole purpose of helping buyers find genuine codes. It started small but with time, it got a lot of success.

    Today, it works with more than 30,000 retailers. It has an extension for many browsers like Google Chrome, Mozilla Firefox, Microsoft Edge, Opera, and many other prominent browsers.

    Within its short journey, it has earned a lot of loyal customers over time. These customers use the services of Honey almost daily for their purchases. Honey gets mostly used when they want to order pizza. It works more efficiently in this field because this idea came to co-founder Ryan Hudson when he could not get any reliable coupons when he was buying Pizza. In this article, we will look at the business model of Honey in detail.

    About Honey
    Business Model of Honey
    How does Honey make money?
    What is unique about Honey’s Business Model?
    Honey PayPal Acquisition
    FAQ

    About Honey

    Honey was started in 2012 with the intention of providing reliable information of coupons. The idea came to the co-founder Ryan Hudson when he could not find any reliable coupon to buy pizza. Even after finding a reliable coupon, he found that it was a tedious task to find proper codes. He thought of automating the process completely. He started coding the extension for the Google Chrome browser.

    At first, Honey was not so successful. Both of the founders George Ruan and Ryan Hudson after developing their minimal viable product went to various investors who did not fund them at all. As a lot of investors were turning down their offer, the founders got frustrated. Soon they were out of funds and, Hudson started working in an ad tech company.

    Honey Founders
    Honey Founders

    Things turned around when somebody mentioned Honey on Reddit. Soon Reddit started flooding with praises of Honey as people many had installed the extension and were delighted by its usage. In 2016, they managed to get their first funding of $4 million.

    In 2017 alone, it had 5 million downloads. In 2020, the downloads reached to 10 million.

    Business Model of Honey

    Honey makes money from affiliate marketing. Honey does not have any deals with the stores directly. They work with various affiliate marketing platforms. Currently, Honey is working with about 20 affiliate marketing platforms. Their platform includes big companies like eBay, Rakuten, Groupon, Commission Junction, ShareASale, and many more.

    Apart from that, the company has set up some unique ways to grow themselves. Honey has set up clever cashback programs which will help them retain customers. This will lead to the long-term growth of the Honey platform as it is increasing its customer base.

    Honey has cleverly designed interfaces that would enhance compatibility with the user. It has a feature where it can compare different products of the same category and show their price comparison to the customer. Customers also receive a cashback under the Honey gold program. This increases the recall value of the customer. It also increases their market share.

    Honey Gold Program
    Honey Gold Program

    How does Honey make money?

    Basically, Honey earns money from affiliate marketing but it has many other features integrated to enhance its affiliate marketing business. Honey is a unique product and it has also positioned itself cleverly in order to capture the majority market share.

    DuckDuckGo Business Model | How does DuckDuckGo makes money
    DuckDuckGo is a free search engine that prioritizes protecting searchers’ privacy. But how does DuckDuckGo makes money?. Let’s find out.
    StartupTalkyAbinaya Arangarajan

    What is unique about Honey’s Business Model?

    Honey gold program

    Honey has a gold program where they give customers some cashback from the affiliate earnings. Thus it is a win-win situation. Through this, Honey retains more customers. Also, the customer is benefitting by saving more.

    Droplist

    Honey Droplist
    Honey Droplist

    In this droplist, you can check the cost drop for the selected item. It helps the consumers to make better decisions and, it also enhances consumer convenience.

    Price history feature

    Honey Price History
    Honey Price History 

    You can also see the price history of the product with the Honey extension. It helps the customer make better decisions. For example, if the product is showing a periodical dip then, the customer can delay his/her purchase and wait till the price drops again.

    Amazon’s best price

    With the extension, you can choose the best Amazon price. The honey extension shows the price of different products available for the selected item.

    Savings finder

    Honey Savings Finder
    Honey Savings Finder

    It automatically applies coupons from other prominent sites. This is the main feature why Honey is so attractive.

    Honey PayPal Acquisition

    Honey had slowly evolved from a small business to a billion-dollar evaluation company. They had specifically integrated such features which would enhance their customer adaptability.

    With time it positioned itself competitively and grew as a unique company. Things started turning and, Honey generated revenue. Their business model worked perfectly and, investors flocked towards the company.

    PayPal noticed the company and started negotiations with the founders. In 2020, January PayPal acquired Honey for 4 billion dollars. PayPal integrated Honey with its platform.

    PayPal acquired Honey because they don’t have much chance of collecting data from a user. Honey is an extension that plays a major role in the buying behaviour of the consumer and acquires those data. This data will help PayPal acquire more data regarding its users. This helps them understand the likes and dislikes of the people.

    Nothing Business model | How does Nothing makes money?
    Nothing is a technology startup founded by OnePlus co-founder Carl Pei. Here’s a look at its business model and how it makes money.
    StartupTalkyAbinaya Arangarajan

    Conclusion

    Honey has slowly but steadily grown its business. Initially, they started small and then went on to implement some clever strategies to make itself more user-friendly. They acquired more customers and retained them with much-shrewed techniques. Their step-by-step proper implementation has made them a huge success.

    FAQ

    Who is the founder of Honey?

    George Ruan and Ryan Hudson is the founder of Honey.

    How does Honey app make money?

    Honey makes money from the commission made on user transactions with partnering retailers.

    Did PayPal acquired Honey?

    PayPal acquired Honey for $4 billion in 2020.

  • Top 3 Worst-hit Companies by the Global Semiconductor Shortage

    For any business involving semiconductors, you must have heard or seen about the chip shortage lately. Well, creating a chip is an extremely long, entangled and expensive process, which definitely puts it in the spot of shortage.

    Chips (Semiconductor or microchip) have made many things possible today. These are the major elements for any gadgets or you can simply refer to them as the life of the gadgets. And for this semiconductor industry, Taiwan dominates over everyone in this entire world. It is even responsible for more than half of the global market share of generating these chips.

    But lately, in the pandemic of Covid-19, a major shortage of these silicon chips have been noted. According to a report by IEEE Spectrum, the automakers abolished the production of vehicles at the very beginning of the pandemic and ordered huge amounts of chips.

    Looking at these statistics, the chipmakers thought that other industries will also follow this and this resulted in decreased chip production. But what actually happened was entirely the opposite of what the chipmakers thought! Demands for chips rose because of the digital remote of the classrooms and offices.

    Because of this, some of the biggest companies across the world got affected pretty badly. And that’s what we are discussing in this article. We have described how some of the top companies got affected by the shortage of chips. Let’s get started!

    Top 3 Companies affected by Global Chip Shortage

    Apple
    Nintendo
    Sony
    FAQ

    Apple

    Apple iPad 2021
    Apple iPad 2021

    This might come as a little shocking to you that a company as big as Apple gets affected by the chips shortage! But this is true.

    As of April 2020, Apple published its second-quarter revenue report which clearly outdated the estimation made by the analysts. Within the same period, the CFO Luca Maestri, through a conference call, warned the company that because of the supply limitations, the revenue can be decreased by $3-4 billion, that is, its third-quarter revenue. He mentioned that because of the shortage in the chip’s supply, the sales of iPads and Macs can be majorly affected.

    These gadgets carry a very high demand among the customers, especially in the pandemic when everything went digital. The CEO of the company, Tim Cook said that the chip shortage only affected the “hereditary nodes” of the previous chips, although the company didn’t really reveal the specification of the chip.

    Apple entirely relies on Taiwan Semiconductor Manufacturing, for the production of chips needed for the creation of Apple’s products.

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    Nintendo

    Nintendo Switch OLED
    Nintendo Switch OLED

    The company, Nintendo, has already established itself with some very serious complications. This was mainly because the investors questioned how Nintendo’s aging Switch gaming console could survive or beat the PS5 and Microsoft’s Xbox series consoles. But the company proved everyone wrong when it came out with a tremendous fourth-quarter revenue report, beating the estimation made by the analysts.

    Nintendo got majorly affected because of the chip shortage and brought hard competition to the robust sales of the company throughout the pandemic. Because of this, the company is expected to decrease the operating profit up to 9% and 22%. Alongside, the annual Switch console shipment will also decrease by around 11%.

    Nintendo uses the fast NVIDIA chip along with the Samsung OLED display for the development of its upgraded Nintendo Switch OLED. But because of the chip shortage, it became difficult to launch these.

    Sony

    Sony PS5
    Sony PS5

    The very famous Sony came out with the latest PS5 consoles at the end of 2020. Chips were expected to play a very vital role in this as they would enhance the gaming and networking services segment. This alone holds the revenue of 30% along with 35% of the operating profit in the fiscal year 2020.

    The gaming and network services rose up to 35% in revenue in the year 2020 which increased the sales of PS4 software alongside the launch of PS5’s launch. In fact, the PS5 also witnessed huge profit at the beginning of its sales. Sony sold around 7.8 million PS5 units by the end of March 2020 and the estimated data showed that the sales would increase more vibrantly throughout the year.

    But because of the global chips shortage, the PS5 console could not reach the growth trajectory which was expected to rise with great heights. The chip shortage caused delays in the third-party game publishers that resulted in the postponing of the PS5 console among the larger audience.

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    Conclusion

    The global chips shortage resulted in some major losses for companies. Although both Sony and TSMC are working on speeding the production of chips all over the world. Still, many doubt that won’t be possible on a larger scale. Many theories and speculations have been made on this venture but still, no proper answer has been finalized for a better cause.

    The chips/microchips/semiconductors are the basic element for any electronic gadgets and companies like Apple or Sony that produce these on a massive scale face major issues and losses during such crises. In this article, we highlighted the three major companies that faced a major crisis because of the shortage of chips.

    FAQ

    Why is there a silicon chip shortage?

    The reason behind global chip shortage is supply chain disruptions due to the pandemic and a sharp rise in demand for electronic goods.

    How long will the chip shortage last?

    According to some analysts the shortage will likely last until 2023.

    Which is the largest chip manufacturer?

    Taiwan Semiconductor Manufacturing Co. or TSMC, is the world’s largest contract manufacturer of the semiconductor chips.

  • WeWork Business Model | The Secret behind WeWork’s Success

    WeWork was once hailed as the fourth highest-valued startup in the world after giants like Uber. It took on to the startup world through its idea of co-working spaces, which became really popular in a very short span of time.

    As its name indicates, WeWork offers office spaces for various businesses and entrepreneurs to pursue their work at a cost that is far lesser than what they would have had to spend if they were preparing a workspace from scratch.

    WeWork was founded in 2010 and it was valued at $47 billion at its zenith. One of the major reasons why WeWork worked was because of the responsibilities that the business owners can leave out by renting workspaces from this start-up.

    However, since the announcement of its initial public offering in August 2019 the company has received a lot of criticism. Furthermore, it also became the victim of humongous losses due to the onslaught of the coronavirus pandemic, post which it was valued at $9 billion. Following that the company postponed the IPO indefinitely and two years later in March 2021, it announced that the company is going with the merger with BoX Acquisition Corp, which is still pending, as of October 2021’s reports.

    WeWork – Latest News

    October 21, 2021 –  WeWork will finally go public. The company is all set to list its shares in the New York Stock Exchange as soon as this week.

    October 6, 2021 – WeWork India appointed Megha Agarwal as the new Head of Marketing. Furthermore, it elevated Raghuvinder Singh Pathania to the Head of Community, India, who is also the Head of Operations at WeWork India. Besides, the new role of the Head – Digital Products is handed over to Dharam Mehta.

    October 1, 2021 – WeWork launches Growth Campus, which is deemed to work in line with WeWork Labs. With the help of this new initiative, WeWork plans to encourage the world of startup companies to get access to workspaces at subsidized rates.

    The Smart Pitching approach of WeWork
    Business Model of WeWork
    How WeWork is Making Money Through Renting
    FAQ

    The Smart Pitching approach of WeWork

    WeWork has successfully created an image wherein they posed themselves as a technology driven startup even though their basic level rests upon real estate. It is only in the development of a particular workspace that they deploy technology and not necessarily in the ways of doing business in itself.

    However, that is not how WeWork portrays itself to the world or to their investors. This is because of the fact that these days technological companies tend to receive funds rather than non-technical ones.

    The valuation of the WeWork has proved this correctly. Even though it does not make any profit or have a stable cash flow it is still valued way above its counterparts, whose valuations are not even half of that of the WeWork even though they have better profit and cash flow.

    Hence, the way it portrays itself has a significant role in helping the startup to gain value.

    Business Model of WeWork

    One of the major partners of WeWork is entrepreneurs and small business owners who want office spaces for various purposes related to their organisation at a very cheap rate. Some of these people may not even need the spaces for a long period of time.

    WeWork has suitable packages for all these kinds of people. The ones who rent out space from the work need not worry about any kind of bills or maintenance or connectivity. All these are handled by WeWork in itself.

    As far as business owners are concerned this in itself is a huge advantage for them. The fact that it will cost more than double of the rent that they have to pay for the work, had they had to set up a workspace like the ones offered by WeWork.

    On the other hand, as far as the people who lease these work spaces to WeWork are concerned, they prefer the ways of the organisation. It is because WeWork takes large work spaces for lease for at least 10 years and then they divide them into smaller work spaces and rent it out to other businesses.

    Here, the owner will always prefer entering into an agreement with one organisation for a long duration than with multiple small buyers for a short duration of time. This also means that they will be able to keep track of the transactions and focus on other businesses in a better manner. They need not worry about finding a tenant or dealing with too many agreements at the same time.

    The requirements of rework and the demands of the lender matches along with the needs of small businesses. In this way all the three partners do their business smoothly in all regards.

    WeWork has launched Growth Campus on October 1, 2021, with an aim to encourage the startup ecosystem. The company is starting this new initiative with an investment of around $3 million, as of the latest reports, and will extend its workspaces to budding companies and startups at highly subsidized rates.  

    Revenue of WeWork
    Revenue of WeWork

    How WeWork is Making Money Through Renting

    Although the nuances of WeWork look sophisticated at the end of the day it is an office space renting company. Majority of its revenue comes from renting of spaces to people.

    They take in real estate spaces from owners for lease and then convert them into smaller work spaces and common areas. They devise their packages in such a way that it suits all kinds of people.

    Sometimes these areas are as small as per room or maybe even a floor. It can also be as large as a whole building in a prime location. Independent freelancers and workers who require office spaces with better connectivity only for a small duration find the services offered by WeWork the most advantageous.

    From small businesses to big companies like OnePlus, have rented office spaces from WeWork. The rising of shared office culture was also a great advantage for WeWork and it has undoubtedly contributed to its success.

    Conclusion

    Over the years WeWork has been experiencing severe losses due to their carefree approach and improper planning. The only reason why WeWork continues to survive is because of its high valuation and funding that it received purely due to the way they portray themselves as a technological company.

    They have also tried to expand their niche beyond work spaces. They have a very attractive state of the art architecture in spaces in prime locations which significantly adds to their value and an elite image.

    WeWork can at the same time be an example for how a business should put themselves in front of others and also how not one should plan their initiatives. Their strategies and models have got a lot to learn from.

    FAQ

    How does WeWork make money?

    WeWork generates revenue by renting office spaces to businesses and companies.

    What is the valuation of WeWork?

    The valuation of WeWork is $9 billion, as of October 2021.

    Who is the founder of WeWork?

    WeWork was founded by Adam Neumann and Miguel McKelvey in 2010.

  • Can Tesla Sail Through Competitive Indian Seas?

    Tesla is an electric vehicle producer headquartered in California. It was founded by Martin Eberhard and Mike Tarpenning in 2004. The company was named as a tribute to electrical engineer Nikola Tesla. In February 2004, via a US$6.5 million investment, X.com co-founder Elon Musk became the largest shareholder of the company and its chairman. He has served as CEO since 2008. The company manufactured its first car in 2009, named The roadster. It was followed by new and efficient models ever since.

    Tesla’s Ingenuity
    Tesla’s Global Headstart
    Tesla’s Gateway to India
    The Anticipated Competitors of Tesla

    Tesla’s India Specific Challenges
    Conclusion
    FAQs

    Tesla in India Analysis

    Tesla’s Ingenuity

    Tesla Supercharger

    • Tesla supercharger is a fast charging vehicle technology made by Tesla. It is a 480-volt direct current fast charger for all their electric cars. The Supercharger network was introduced on September 24, 2012, with six Supercharger stations. As of February 18, 2021, Tesla operates over 23,277 Superchargers in over 2,564 stations worldwide[2] (an average of 9 chargers per station).
    • Tesla launched the “Destination Charging location” network in 2014. Equipping chargers to hotels, restaurants, shopping malls and resorts to provide on-site vehicle charging at twice the power of default home charging.

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    Tesla’s Global Headstart

    Tesla broke ground on the Gigafactory in June 2014 outside Sparks, Nevada. The name Gigafactory comes from the word ‘Giga,’ the unit of measurement representing “billions.” The Gigafactory is being built in phases so that Tesla can begin manufacturing immediately inside the finished sections and continue to expand thereafter.

    Tesla opened its first Gigafactory in Shanghai, China. It was impressively built in less than Six months. It was also the first automobile factory fully owned by outside authority in China.

    Gigafactory (Image via Tesla)

    Watch Below Governor Brian Sandoval and Elon Musk, Chairman and CEO of Tesla Motors, announced that Nevada has been selected as the official site for the Tesla Gigafactory. Tesla will build the world’s largest and most advanced battery factory in Nevada which means nearly one hundred billion dollars in economic impact to the Silver State over the next twenty years.

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    Tesla’s Gateway to India

    Tesla India Motors And Energy Private Limited is a subsidiary of Tesla Inc. The company was registered on 8 January 2021 in Bengaluru, Karnataka. It has officially registered with the Registrar of Companies in India at its Bengaluru office. Transport Minister Nitin Gadkari has confirmed the entry of Tesla in India

    Tesla should “make cars in India, sell in India and export from India,” and rely on local suppliers, Gadkari said at an India Today Conclave

    Though there has been no formal announcement by the company on its India plans yet. Whatever be the plans the company is asked to manufacture and then sell in India and not to sell cars “Made in China”.

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    The Anticipated Competitors of Tesla

    The Future is Electric, this is not a future sentence anymore. We are already witnessing companies manufacturing and people moving to Electric vehicles. Several top performers in this field in India are pointed below.

    Tata Electric

    Tata EVs | Tata Electric Vehicles
    Tata EVs | Tata Electric Vehicles

    Tata is an already established and trusted brand in India. In order to boost EV future plans the company plans to invest $1 Billion Tata Motors electric vehicle subsidiary, Tata Electric.​​ Tata Motors recently struck a deal to raise Rs 7,500 crore from TPG Rise Climate and Abu Dhabi’s ADQ. This is a major fundraising by an Indian carmaker to boost the clean transportation segment. For now the company has introduced two EVs in market:

    • Tigor EV
    • Nexon EV

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    Hyundai

    Hyundai KONA Electric
    Hyundai KONA Electric

    Hyundai Motor Company is a South Korean multinational automotive manufacturer headquartered in Seoul, South Korea. They also hold a dominant share in Indian car segment through their operations in India. They launched their first EV, The Kona Electric to tap the newly formed demand in this sector.

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    Mahindra Electric

    Mahindra Electric car
    Mahindra Electric car

    The automotive giant is not left behind in the market of EVs. It has already started to manufacture automobiles that are powered by electric means.

    Examples Include:

    • eVerito
    • eSupro
    • e2oPlus and more

    Morrison Garages India

    Morrison Garages
    Morrison Garages

    British automotive founded by Cecil Kimber in the 1920s, and M.G. Car Company Limited.The Indian subsidiary was set up in the year 2017 and began its sales and manufacturing operations in 2019. Now, it is a celebrated car brand in India. Last year it came up with the MG, ZS EV. The MG ZS EV is not just India’s first pure Electric Internet SUV, but also a catalyst for change. The EV is powered by i-Smart EV 2.0. Style, substance, performance.

    Mercedes Benz

    The car brand that is synonymous with luxury, came up with an all electric vehicle in oct 2020. The Mercedes Benz EQC Electric, with the same elegant style and the same robust lux that is always expected from the automobile manufacturer.

    Mercedes EV Launch

    Tesla’s India Specific Challenges

    Charging Infrastructure

    The one necessity of electric vehicles is its charging demands and it’s a new concept to the world. So generally charging Infrastructure becomes a little problem for developing countries. In a developing country like India, The charging Infrastructure that is needed to jump on the EV trend is not ready. There is a lot of space left to fill in this domain. The Government of India is trying and boosting the process to develop the infra as soon as possible.

    Cost

    Another crucial thing in an EV is the battery, The lithium Ion battery. Every EV is powered by a battery that has to be imported in India. In case of four wheelers, Most EVs in India provide a range of 200 to 250 km and cost between Rs 14-20 lakhs which does not give a cost advantage compared to higher range cars in the same price range.

    Lack of Renewable Energy

    In India most of the electricity is made by coal burning. If we see EVs running in our markets then electricity demand will shoot up. Which will moreover push the companies to produce more and more electricity. Which will cancel out the motive of reducing the greenhouse gas emission because coal burning itself emits GHGs.

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    Conclusion

    Tesla has plans of getting in the Indian market and most probably it will enter. But the company will see many aforementioned edges and challenges that will ruffle their feathers, Like the Charging Infra, GHG emissions and Cost control issues. Moreover, seeing the current face of the government, and watching the relations with China, it will oppose selling “Made in China” cars in Indian Markets. Either Tesla has to start manufacturing in Indian Borders or have to find other ways to tackle the obstacle. In a nutshell, we can say that If the company has to expand and plant roots in our subcontinent, then it has to be agile and innovate in accordance to the demands here. It will have to improvise a bit.

    FAQs

    Is Tesla allowed in India?

    Tesla has got approval for four of its variants by the Indian government.

    Which Indian company ties with Tesla?

    Sona Comstar Ltd., Sandhar Technologies Ltd. and Bharat Forge Ltd. are among some Indian companies already supplying components to Tesla.

    Does Tesla manufacture only electric cars?

    Tesla builds not only all-electric vehicles but also manufactures scalable clean energy generation and storage products.

    Who is Tesla’s biggest competitor?

    Some of the Tesla’s competitors are:

    • Tata Electric
    • Hyundai
    • Mahindra Electric
    • Morrison Garages India
    • Mercedes Ben

  • Netflix Viewership And Its Effects on E-commerce & Economy | The Netflix Effect

    You would be living under a rock if you don’t know what Netflix is. It is the world’s most popular subscription based video streaming service. Founded in 1977 and was originally a DVD rental service. In 2007 it began streaming cinema online (OTT Service) and became the Netflix that we know today.

    Streaming services such as Netflix have changed the way we consume media in the world today. With the emergence of “binge watching” we now have access to and can consume more entertainment than ever before. But how are these new opportunities affecting our culture as a whole? As of July 2021, Netflix has 209 million subscribers. That is a huge number and It grows around ten percent every year. With this number of viewers watching everything that Netflix produces, there are some “after effects” too. Effects that continue even when your favourite movie or series come to end. So what are these Effects and how are they relevant to us and the Environment/Economy around?

    Netflix Effect
    Queen behind Chess win
    Squid Games in Real
    The Imitation Game
    The future of advertising
    Conclusion
    FAQs

    Netflix Effect

    The Netflix Effect

    We are talking about the Netflix Effect. This term can be used to describe several events that are the consequences of the culture that borns out of Netflix’s shows and movies. For instance Actors that became a sensation overnight or certain products after being used in a film or show getting huge demand from everywhere. With a huge audience waiting eagerly for the next season of shows or sequels, this effect is obvious and inevitable in all senses. To get more clear let us take an example.

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    Queen behind Chess win

    The Queen’s Gambit is a TV series, released on Netflix in October last year. The plot was about an orphan chess prodigy who dreams of becoming a chess grandmaster someday. The show soon became one of the most popular shows on Netflix. Before its release, if you’d asked the general public whether a show about chess could bring in millions of viewers and break Netflix records, chances are most wouldn’t have believed you. YES, A record-setting 62 million households chose to watch The Queen’s Gambit in its first 28 day.

    With this rising viewership, the show created a cult, a culture that interested a lot of people. The after effects of this huge Fandom were many. To count a few, the show soared sales of chess boards, people all of a sudden began learning how to play chess, The original novel became a bestseller and Chess-dot-com (Online Chess platform) saw huge sign ups, Chess apps downloads went up by many folds. This is what happens when a show becomes immensely popular, People start copying and imitating their favourite characters in the show.

    Google Trends showing splurge in “Chess” term in UK

    Squid Games in Real

    The most recent Netflix blockbuster “Squid Games” has become a pop culture phenomenon. Released in September, It is a Korean Horror-Survival series. Striking a chord with the audience, The show has produced massive ripple effects in trends. From Squid games themed fashion lines to viral challenges on Tik-Tok.

    Squid Game Costume
    Squid Game Costume

    All of a sudden everyone is mentioning a reference from the show. People are cosplaying the characters, Learning korean, Not to mention Dalgona candy sales are at an all time high, and oh my gosh !! White sneakers are generating 7800 percent more sales than before. Vans(Shoe store) is having a good boom after this. Duolingo’s Korean learners increased by around 40% and everyone just wants to jump into the fashion.

    A character from the show “HoYeon Jung” became an overnight sensation when her IG followers jumped to the sky, was roped in by Louis Vuitton and was made the face of the luxury brand.

    HoYeon Jung Instagram
    HoYeon Jung Instagram

    Squid Game is still producing viral benefits for brands.

    The show was viewed by over 142M households worldwide and generated an estimated $900M in value for Netflix. (The series cost Netflix only a little over $21M.)

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    The Imitation Game

    As google is synonymous and an official “Verb” for searching, Netflixing has become a synonym to “binge watching”. Ask for binge recommendations and most and all you get is Netflix produced stuff. It has changed how we consume media for entertainment. Online streaming is not killing cinephilia, but rather it is changing the way we view movies and interact with that particular medium. I would also say that cinephilia is not dying and, in some ways, I would say it is stronger than ever.

    The reason why I have named this para as ‘Imitation Game’ is that people imitate what they find superior or heroic or just greater-than-life. There is a quote that goes here very smoothly

    – “Whoever controls the media, controls the mind” – Jim Morrison.

    When people watch their favourite characters doing something, they seek to imitate them. Like the prodigy that plays chess in “Queen’s Gambit”, Made people like chess, play it more and speak about it more. “Squid games” made people hop into themed jumpsuits and play challenges and imitate the show. The behaviour of liking and copying people’s favourite, can or maybe has already become a business marketing technique. How far it can go and how dynamic it can be, we will witness.

    The Future of Advertising

    The instances of Netflix’s rocketing sales of on screen products proves the point that it can be a marvellous advertising powerhouse. Brands can take note of these effects and market their products as a story, or woven as a story, a series, show or any piece of cinema to lure cinephiles.

    Netflix Is Ad Free, but It Isn’t Brand Free – A Tribune Article

    In another recent cross-promotion, Netflix charged the clothing company Diesel a license fee to make outfits inspired by “La Casa de Papel,” one of Netflix’s most popular shows. Online ads from Diesel hammered home the connection by showing the Netflix name, mentioning “La Casa de Papel” and featuring characters in the distinctive red jumpsuits worn by the show’s protagonists.

    Netflix Effect on Diesel Clothing Company ad

    Conclusion

    Netflix doesn’t run ads on its platform but has somehow magically has become a coveted marketing platform in the world. The top streaming service provider restrains commercials but is trying to figure out a way on how it can work with brands to direct the crowd. Netflix is highly cautious about his brand image too and even continues to refute the idea of introducing an advertising model similar to the majority of other streaming services have adopted.

    Nevertheless as per studies and reports and as per viewers’ own discretion we can discuss and establish that sooner or later Netflix can approach brand advertising and product placement in maybe a different manner than the rest. This expansion in this scope is going to give a strong back support to the company, providing them with more options and more stability. If this happens then the world of advertising will surely see a splurge. The advertising will be more specific and widespread, the characters more colourful and the Fandom more wholesome. In the meantime, marketers should pay attention to what’s taking the streaming world by storm – it may help them to boost sales.

    FAQs

    How many customers does Netflix have?

    Netflix has about 209 million paying customers globally.

    Which country uses Netflix the most?

    Netflix is most watched in South America.

    How much money does Netflix make?

    Netflix generated total revenue of over 7.3 billion U.S. dollars in the second quarter of 2021.

    Which Netflix series has the most views?

    Netflix top 5 series by total view in 1st month of release are:

    • Bridgerton, season 1
    • Money Heist, part 4
    • Stranger Things 3
    • The Witcher, season 1
    • 13 Reasons Why, season 2

    Some of the most popular series on Netflix are:

    • The Witcher
    • Sex/Life
    • Stranger Things 3
    • Money Heist
    • Tiger King

  • Gaming Content Creators – A Viable Profession in the Digital era

    This article has been contributed by Mr. Shivam Rao, Co-Founder & COO of Trinity Gaming.

    The general consensus in the bygone days around gaming was usually associated with someone who is lazy. Fast forward to the present, it is now a billion-dollar industry making it one of the most powerful sectors to be associated with. Tech giants like Google, Facebook, Apple all have plans to enter the gaming industry with the purpose to allow players to stream games without the need for a computer or a video game console. (source: investopedia.com)

    One cannot overlook the potential the gaming industry has, and with that, we have seen the rise of gaming content creators. These content creators work to further enhance the produced content with a purpose or a goal. They play, engage, share their experiences, review them, and have the power to create a narrative around them. Esports is regarded as the best form of entertainment with virtual reality adding yet another layer to it. The gaming industry also enjoys the benefits of penetrating the demographics. It has an interesting mix, attracting generations from earlier and later in life.

    This has resulted in the demand for this special class of creators who are collaborating with brands to connect with the new audience. Brands are marketing through gamers, knowing this can enable more meaningful connections.  This has proved to be a good medium for them to advertise, and interestingly out of all the influencers in the market, gamers are known to have the best audience engagement in terms of viewership and audience-creator relationships.

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    In the case of gaming content creators, the most common way to generate revenue is through super chats, YouTube membership, and brand endorsements, and so on. And once the loyal followers are built, brands are looking for collaborations to target the new followers. Dominated by the younger generation, it promises a great scope for the youths who share a deep interest in esports and wish to pursue a career in something they enjoy. It is for anyone who loves esports/virtual gaming and can smartly blend humor to it. These talents are getting the recognition they deserve and management companies similar to ours, are stepping in to nurture them, guide them, build a network and connect them with the best brands to associate with.

    Since its inception, Trinity Gaming has created a unique ecosystem for the gaming content creators like Dynamo, Jonathan, Alpha Clasher, Shreeman Legend, Antaryami along with others who have been working with India’s top brands and have successfully established themselves. The new segment has also witnessed the growing popularity of women creators like Annie, Mystic Ignite, Unicorn IB, Pooja Bisht who are now donning the space.

    Building a career as a gaming content creator might seem a simple way to earn and an easy road map to fame, but that isn’t the case always. One has to be really persistent and needs to develop a certain set of skills. Some of the key factors that a creator must develop to ace in this industry are:

    1. Maintaining Originality
    2. Developing a signature style
    3. Communicating and engaging with the audience while ensuring no one is offended
    4. Ideating content that fulfills the purpose – Entertainment
    5. Must be an esports fanatic

    Anyone who desires to be a gaming creator needs to develop and experiment with these skills. It is a new-age profession that is for anyone and everyone.

    With the gaming industry becoming more complex, there has been a rise of the gaming community that respects each other and thrives together. The community brings inclusivity in diversity. Creators, as an integral part of the gaming community, have a huge spectrum to explore and ideate great content which will only support them to grow.

    Also Read: Fantasy Games in India: Everything you need to know

    With the ease of accessibility to the internet, the current generation spends more time, consuming content digitally. The rise of digitalization, changes in perspective, technological advancement, and the mounting interest of people are some of the prime factors that have supported the industry and behold a strong future. This is the right time to identify the power of esports and establish to rightly fit into this popular sector.

  • Platform as a Service (PaaS) – What is it, Market Size, Pros and Cons

    The Internet can be considered as a miracle in our life, which changes the outlook of our world. Thanks to the internet, our life has become much easier. It wouldn’t be wrong to call the internet the greatest invention of the modern world. The internet has connected everyone and converted this huge world into a small global village.

    In this technologically advance and IT-dominated world, cloud computing is the new player. The days are long gone where you only have computer hard drives, where we used to store data and run programs. Now, because of the internet, we have the cloud computing system to do that.

    Cloud computing enables us to store, manage and process data through the internet. Basically, it is a prototype that provides on-demand network access to shared computing resources.

    Now to be specific, there are three delivery models of cloud computing and they are: SaaS, IaaS and PaaS

    Today, in this article we are going to discuss PaaS and the market size of the PaaS industry. So, let’s get started.

    “With the cloud, individuals and small businesses can snap their fingers and instantly set up enterprise-class services.”

    – Roy Stephan

    What is Platform as a Service (PaaS)?
    How does Platform as a Service (PaaS) Work?
    Pros and Cons of Platform as a Service (PaaS)
    Market Size of the Platform as a Service (PaaS) Industry
    Best Platform as a Service (PaaS) Providers
    FAQ

    What is Platform as a Service (PaaS)?

    The first question that arises in our mind when we hear PaaS is, What is PaaS?. To be specified PaaS also known as Platform as a service is one of the delivery models of cloud computing that deals with application development with the hardware and software tools provided by the third party.

    This model gives the user a free pass to develop and run the new applications without installing any hardware or software and also provides the necessary components needed for the deed.

    How does Platform as a Service (PaaS) Work?

    PaaS is provided through public, private, and hybrid clouds. They mainly provide an infrastructure for the development of an application. One can just have their access through a web browser.

    This is mostly a pay per use basis service, although there is an option of the monthly fee as well, where the users have to pay the provider per month for the service.

    A PaaS provider offers operating systems, database management tools, infrastructure, development tools, middleware, and other important equipment needed in the cloud environment.

    Pros and Cons of Platform as a Service (PaaS)

    PaaS as a service is gradually becoming a very significant part of the cloud computing industry.

    There are many reasons why people prefer it, some of them are:

    Pros

    • The first and foremost reason would be cost-saving; it is probably the most important one. The pay per use basis barred the enterprise to use more expenses, this cannot be possible if in-house hardware and software are used.
    • The user can access it from anywhere and at any time, thus giving a free pass to people from all around the world to collaborate in the development of an application.
    • Using in-house resources and managing can take a lot of time which may result in delays. Developing application tends to be faster with the help of PaaS as the resources are managed automatically here.
    • Any kind of device, mobile desktop, laptop can be used to develop applications through PaaS, unlike an on-site development platform that enables only one specific device.
    • The web-based nature of PaaS helps in getting updated tools automatically. While in-house technology tends to get out of date

    Just like the advantages, everything has its disadvantages as well, nothing is perfect. There are challenges that are needed to be solved and they are:

    Cons

    • Public PaaS products are not appropriate and are a basic concern for security as there are many people using the product and sharing the space with others.
    • PaaS products are made by the providers, so there is no say of the users here. They have to use what they are being provided with. Therefore compatibility issues can arise.
    • Moving from one platform to another can be a little tricky.
    Platform as a service (PaaS) end-user spending worldwide
    Platform as a service (PaaS) end-user spending worldwide

    Market Size of the Platform as a Service (PaaS) Industry

    The main reason for the growth of PaaS industry is because of the rise of cloud-based business. Many industries are adopting cloud services as they are able to meet their business goals at a minimal cost. With Covid-19 still looming over our heads, big businesses are opting for PaaS for developing and managing applications.

    The growth of PaaS industry is because of the minimal cost required for application development with that the time that is given during the procedure is much lesser than what the users give during the onsite application development. Although, security issues can be a hinder to the growth of this market.

    As per the reports, the market size of industry is 56.2 billion as of 2020 and it is expected to grow to 164.3 billion by 2026. The IT industry is looking forward to getting more involved with PaaS.

    Best Platform as a Service (PaaS) Providers

    There are various vendors who provides some of the best PaaS services and they are:

    • Amazon Web Services – Elastic Beanstalk
    • IBM – Bluemix
    • Microsoft – Azure
    • Red Hat – OpenShift
    • Google – App Engine
    • Microsoft – Azure
    • Engine Yard
    • Heroku
    • Pivotal
    • Mendix

    Conclusion

    Technological advancement has taken the world to a different level.  Thanks to that, humans are innovating things that are making life much easier than one could ever imagine. A thing can be developed with minimal cost is not time-consuming anymore.

    PaaS industry will only rise with time and with the existence of on spot infrastructure and tools that are needed for the development and managing of applications. It is just a matter of time before every kind of business will pick the side of cloud computing and will involve itself in the PaaS industry.

    FAQ

    How Big is the Cloud Services Industry?

    The market size of the global cloud industry is expected to reach $791.48 billion by 2028.

    What is the main function of PaaS?

    The main function of Pass is to develop, update, test, and host applications all in the same domain.

    Which is the biggest PaaS Provider in the World?

    Amazon Web Services is one of the biggest and best PaaS providers in the world.

  • How Gillette Became The Most Used Razor Blade In India?

    Gillette is one such brand that you have most definitely heard of, through your parents or in your friend circle. Over the years, Gillette has managed to become a common household name thanks to its popularity across all demographics. I have personally seen my grandfather use the same Gillette brand, which my dad has been fond of too for ages. So Gillette has been a part of this hierarchical journey in my family and is being passed on for three generations and would most probably be in use by the fourth generation soon.

    Although Gillette is an American brand that sells personal care products, including shaving supplies, a large sum of customer base and profits comes from India. Gillette has an approximate global brand value of around 7.55 billion U.S. dollars. The Gillette Company was founded in Boston, Massachusetts, United States, by King C. Gillette in 1901 as a safety razor manufacturer. King Camp Gillette was a salesman and investor who came up with the idea of disposable safety razor blades way back in 1895.

    History of Gilette Razor in Indian Market
    How Gillette Razor Changed The Indian Mindset?
    Gillete Implementing The Golden Strategy
    Future of Gillette in India
    FAQs

    Gillette Business Strategy

    History of Gilette Razor in Indian Market

    Gillette Logo
    Gillette Logo

    Gillette entered Indian markets in 1984 when it was bought by Procter & Gamble. Gillette had to tackle and overcome various problems if they had to survive in India. The company’s main hurdle wasn’t any brand or competition. Instead, it was the Indian mindset that had to be changed. Gillette has only started its advertising journey in the late 2000s and has believed solely in providing high-quality, uber premium, and longer-lasting products. Midinstead low-income Indian customers would hesitate to get their hands on any Gillette’s premium double-edges shaving system products as they were priced at premium rates and would rather get the same shaving services by any local barber at a nominal price.

    Concerns such as it were time-consuming, caused skin irritation, and was an unpleasant experience were the main highlighted reasons which were found after extensive consumer research. Over the years, Gillette evolved and moulded itself to adjust to this weird Indian terrain and tried to educate Indians regarding grooming products. Gillette’s top ten competitors are:

    • Harry’s, 800Razors
    • Schick, Edgewell
    • Grooming Lounge
    • Braun GmbH
    • Dollar Shave Club
    • Raz*War
    • Custom Shave
    • ShaveMOB

    Only a handful of Indians know about these brands, this is the current hold which the brand has over the Indian market.

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    How Gillette Razor Changed The Indian Mindset?

    Gillette Razor
    Gillette Razor

    Gillette usually relies on extensive market research and development in order to cater to a global customer base through a single product. Still, this approach was bound to fail in India, and therefore the company dropped this worldwide strategy and instead focused on India as a whole and soon after saw dramatic growth in market share. Gillette launched various campaigns in India to make people think over specific questions like:- Are clean-shaven men more successful? Did the nation prefer clean-shaven celebrities? And the big one: do women prefer clean-shaven men? It’s questions like these that made men think over their choices and consciously make an effort to look better.

    Upon research, Gillette came to an understanding that customers want not only affordable products but also safe and easy to use products, and Gillette was able to deliver just that in October 2010 when it launched Gillette Guard, which was the first product created for the Indian market, pricing at just 15rs per razor and 5rs for the refill cartridge.

    It had of a kind and unique tagline.

    “The best a man can get” is known to most people as it’s unique and evokes a feeling of responsibility. It focuses on individuals trying to be the best version of themselves by making the right move and choosing Gillette. Gillette also played around the survey, which suggested that men who groom themselves and take care of their hygiene are looked at as more responsible, attractive and of higher status.

    Additionally, getting young Indian celebrities ranging from film actors and actresses to athletes also helped them build a company image and cater to a younger consumer base. The advertising and marketing department of Gillette also did a fabulous job of making ad films, such as the one with an army official talking about his close call during the war and proudly boasting his 7-inch battle scar and gliding his Gillette blade over it without any hesitation. It is because of advertising like this that the brand image and its perception have been absolutely top-notch and unshakeable.

    Gillete Implementing The Golden Strategy

    Gillette could very well have been one of many international brands which tried and failed to adapt in the Indian market, but what helped Gillett was their open-minded and flexible approach. Gillette’s business model in India shows that they dropped the idea and approach of a “one-size-fits-all strategy” wherein they would mass-produce a product and sell it globally.

    They took their time and contributed it to research and development for the future of Gillette in India. Gillette spent time, money, and resources in trying to understand the Indian market and customers’ wants and needs. This understanding helped Gillette innovate and develop new and improved products and various unique methods of communication to engage and attract new and existing customers.

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    Future of Gillette in India

    The company is showing no signs of stopping or even slowing down anytime soon with their market share as huge as it is, no other brand is even in close comparison to Gillette. The brand keeps on coming up with new and improved ideas for marketing and advertising, with the recent one including rising young talents of the Indian cricket team. The company’s ever-evolving strategy and ability to adapt in any situation helps them keep a clean and smooth track and glide across smoothly. Because of this approach from Gillette, it is not only dominant in India, but it is completely dominating across the world.

    FAQs

    Which is the best Gillette razor in India?

    Gillette Mach 3 Turbo is the most trusted razor in India.

    Who are Gillette competitors?

    The top 10 competitors in Gillette’s competitive set are:

    • Harry’s
    • 800Razors
    • Schick
    • Edgewell
    • Grooming Lounge
    • Braun GmbH
    • Dollar Shave Club
    • Raz*War
    • Custom Shave
    • ShaveMOB

    How did Gillette enter India?

    Gillette was launched in February 1993 with the launch of Gillette Shaving Products in India.

    What was the firstly launched product of Gillette in India?

    Gillette launched its first shaving product in India – Gillette Presto Readyshaver.

  • Kickstarter Business Model: How Does Kickstarter Make Money?

    Having trouble looking for a funding platform that will fund your creative project? Not being able to generate investors for funding? Waiting to kickstart your business but not being able to due to finance? Kickstarter, a New York-based public-benefit corporation might be the solution that you are looking for.

    Kickstarter is an American company with its headquarters based in New York. Kickstarter helps creators start their projects by getting them what they need i.e. Finance. With the mission to help people who have creative projects become a reality Kickstarter has become a significant platform.

    Kickstarter promises its users top-notch services along with several benefits. Being an American company, Kickstarter’s services can be availed by those countries that Kickstarter is being operated. Users must possess either a debit or a credit card.

    About Kickstarter
    Kickstarter’s Areas Of Operation
    Kickstarter’s Services
    Target Audience of Kickstarter
    Business Model of Kickstarter
    What is so unique about Kickstarter?
    How Does Kickstarter Make Money?
    Conclusion
    FAQs

    Kickstart Successful Funding

    About Kickstarter

    Kickstarter is a medium to connect creative workers and investors. The campaigns done by Kickstarter aim to make imaginations or ideas into reality. Creators share their idea on the platform and communities help to fund the project.

    Since its foundation in the year 2009, Kickstarter boasts when it comes to numbers. With tight competition, Kickstarter has successfully funded more than 200,000 projects so far. This might sound a small amount but it is a great achievement.

    Kickstarter’s Areas Of Operation

    Kickstarter has its operations in several countries. You can create a project if you are from the US, UK, Canada, Australia, New Zealand, Netherlands, Denmark, Ireland, Norway, Sweden, Germany, France, Spain, Italy, Austria, Belgium, Switzerland, Luxembourg, Hong Kong, Singapore, Mexico, Japan, Poland, Greece, and Slovenia.

    However, people living in any other country apart from the above-mentioned ones can use their services and can create a project. But, Kickstarter has a strict policy of projects that can be a part of a creative project.

    Kickstarter’s Services

    Kickstarter’s services are not open for every type of idea. Kickstarter’s services include giving your idea a marketing platform. Anyone with a potential business idea or a creative project can get direct attention from different social media platforms.

    It is the backers that back a project by funding them to help an idea become a reality. The creators in return offer certain rewards to the backers which can be a copy of what will be produced. Kickstarter is not an offline store where you can go for funding.

    Kickstarter will not charge any amount until and unless the project reaches its funding goal. Once the project has been funded successfully Kickstarter charges a 5% fee on it.

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    Target Audience of Kickstarter

    Kickstarter does not have a target audience per se because anyone with a keen interest to back a project can become a part of the Kickstarter. According to Kickstarter target demographic, the audience for Kickstarter comprises 78% men and 22% women.

    People who are around the age of 25-35 are the most common visitors to Kickstarter. It is the creators sharing their ideas who need the audience because they would generate funding. With the help of behavioral targeting, one can connect with real people.

    These people with whom you can get connected are the ones who have supported projects like yours. The project that you have created on Kickstarter will recommend people who have backed similar projects like yours through advertisements.

    Behavioral targeting is one of the most popular types of marketing for Kickstarter. So, if you have a creative idea on your mind then someone with similar interests might back you. As mentioned earlier that Kickstarter has helped more than 200,000 projects with their funding.

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    Business Model of Kickstarter

    Kickstarter logo
    Kickstarter logo

    Most people wonder how does a crowdfunding platform earns its revenues. Crowdfunding companies work on a commission-based format where the company charges a certain amount of money from its users and some amount for the transaction.

    The business model of Kickstarter is multi-sided. If you look at Kickstarter’s earning process and method then you might think that the company earns its revenues by charging certain commissions from its users.

    Well, if you think that then you are correct because it charges a 5% commission on the total funds raised. The business model of Kickstarter works on two interdependent customer segments. The two segments include the creators and the backers.

    Advertising done by Kickstart is mainly done through social media. Campaigns done by the company are efficient and encourages people to share about Kickstart. A creator’s project will be flooded all over social media, emails, live events, press contacts and many more by Kickstarter so that more audiences get to know about the project.

    What is so unique about Kickstarter?

    Kickstarter promises its users a unique experience. The company ensures a successful campaign where creators can benefit from the following things:

    • Getting seed capital
    • Can keep the stake of ownership
    • Early feedback on projects so that optimizing can be done
    • Exposure to the social environment

    Kickstarter is not into funding treatment or any other such kinds of things. It takes an active part in promoting projects on categories like games, films, music, art, technology, and many more. If you are interested in any of these categories then you can use the services of Kickstarter.

    How Does Kickstarter Make Money?

    Kickstarter charges a 5% commission fee on the total funds raised. However, they charge a certain amount for payment gateway. The company uses this money to run its site which includes advertising and employee payment.

    Kickstarter uses Amazon to collect their payment that is entered by the backers. Whenever a goal for a particular fund is met Kickstarter charges some amount of money.

    Conclusion

    Kickstarter’s services are one of the best and as a crowdfunding platform, you cannot expect more than your project being marketed for free. This is something that not many companies do. Well, a public-benefit company will do what they do the best and that is help people.

    FAQs

    What kind of industry is Kickstarter in?

    Kickstarter is a crowdfunding platform that is into financial services on internet.

    What are the advantages of using Kickstarter?

    One can get the following benefits for using Kickstarter:

    • Instant cash
    • Keeping full control of business
    • Chance to create a brand image

    Who competes with Kickstarter?

    The 6 Best Alternatives to Kickstarter in 2021

    • FundRazr
    • Patreon
    • GoFundMe
    • Chuffed
    • Wefunder
    • Indiegogo

  • Dissection of Mitsubishi’s Business Model | How Does Mitsubishi Make Money?

    Mitsubishi shoji kabushiki kaisha.

    No, this is not a magic spell from Harry Potter’s world. In English we call the above phrase ‘Mitsubishi corporation’ which is equally magical as a spell. This article is a dissection of the businesses they do, their business model and the philosophy they operate with. So, take your diving suits with you and get ready.

    Headquartered in Tokyo, Japan. If we dive into the articles of this company we will find that it reflects quite a clear view of their working areas. It says that the company will be involved in diversified businesses including purchase, sale, manufacturing and development of products. Logistics, new business development, providing services in a broad range of fields, either through the company itself or with any other company in which they hold shares or interests. Okay, that is a lot of areas.

    Thinking of one, Of all. – The tagline

    Shoki Hoko (Corporate Responsibility to Society), Shoji Komei (Integrity and fairness) and Ritsugyo Boeki (Global Understanding Through Business) are the three prime philosophy pillars of this Global Brand.

    About Mitsubishi
    Mitsubishi Mission
    Mitsubishi Facts
    Mitsubishi Business Model
    Mitsubishi Unique Aspects
    How does Mitsubishi make money?
    FAQs

    About Mitsubishi

    Mitsubishi logo
    Mitsubishi logo

    Mitsubishi is an Integrated business enterprise with offices and subsidiaries in 90 countries and approximately 1,700 group companies worldwide. Their 10 business groups are engaged in a wide range of businesses across virtually every industry, ranging from natural resources to the items used in everyday life. Mitsubishi manages a variety of operations in locations across the globe working to achieve sustainable growth for the company and Society.

    Mitsubishi evolution

    Mitsubishi Mission

    Their mission is to provide optimal business solutions to societal needs. Their food and consumer goods businesses help provide a stable supply and resources for everyday life. Engaging in each link of the supply chain, from the production of raw materials to processing, logistics and sales, we provide products that are safe, secure and highly traceable. In the fields of mobility and infrastructure their operations support the sustainable growth of cities. These include Automotive business, airports and other businesses that facilitate the smooth flow of people, goods and data as well as dedicated urban development projects.

    The company has vehicle manufacturing facilities in Japan, the Philippines, Thailand, and Indonesia, and 12 plants co-owned in partnership with others. Mitsubishi has had a 30-year-long association with actor Jackie Chan, who has used their vehicles almost exclusively in his movies throughout his career.

    They also invest in mineral resources and metals projects which are vital in so many ways to the growth of prosperous cities. Energy and power essential for both quality-of-life and industrial development, Operations there include liquefied natural gas or LNG as well as wind power and other renewable energy businesses. By providing a stable supply of energy and power they are helping to realise Sustainable societies. Having their roots in trade, Mitsubishi Corporation has flexibly adapted their business models in line with the ever-changing needs of society. Once again we are in a new era, this one Defined by innovative digital technologies. In order to continually evolve as a company they are taking on new challenges in this space as well. Since their Foundation the three corporate principles have underpinned our commitment to create a new value hand in hand with society.

    Mitsubishi Facts

    • The Mitsubishi logo was derived from the flag design of its shipping company predecessor. The three triangles are actually based on the shape of a water chestnut. In Japanese, the word for three is “mitsu,” and the word for water chestnut is “hishi.” However, “hishi” is pronounced as “bishi” when used in the second half of a word. The combination generated the name Mitsubishi.
    • The logo design, originally created for the shipbuilding company, was based on a blending of two family crests. It existed for many years before the automotive manufacturer’s version was trademarked in 1914.
    • Sold in over 160 countries around the world, Mitsubishi has established itself as the 16th largest automotive manufacturer in the world. Over the years, Mitsu has partnered with other leading brands including Volvo, Chrysler, and Hyundai to produce vehicles sold around the globe.
    • In 1976, Mitsubishi developed the Silent Shaft engine, reducing vibration in 4-cylinder setups. After patenting the groundbreaking technology, they then licensed it to several other big-name manufacturers including Porsche an Saab.
    • The Mitsubishi brand name was not introduced in the U.S. until 1982, when their sedan, the Tredia, and coupes, the Cordia and Starion, hit the scene. When sales started out, Mitsubishi’s cars were sold through 70 dealers in 22 states. But by the end of the ’80s, the company had run its first U.S. ad campaign and significantly increased its presence.
    • Speaking of Guinness Book records, Mitsubishi beat five of them in 24 hours in 2011. Taking their newly released Outlander and Outlander Sport to remote Canada, they racked up a series of unrivalled achievements in one day.
    • Greatest distance driven by a vehicle in reverse on snow in 30 seconds (300 meters)
    • Shortest braking distance by a vehicle on ice (56.2 meters)
    • Most vehicle figure eights on ice in two minutes (3 laps)
    • Fastest vehicle slalom relay on ice (1 minute, 11 seconds)
    • Fastest driven square lap (19 seconds)

    Mitsubishi Business Model

    Mitsubishi Corporate Strategy Model 2021
    Mitsubishi Corporate Strategy Model 2021

    Midterm corporate strategy 2021, showing business portfolio (Business management model)

    This business portfolio shows clearly that the most business of the company comes from the mineral resources area and the second most investment balance is in motor vehicles, machinery and equipment and steel. Investments that show an upward trend in these times are

    • Mineral resources
    • Natural gas
    • Meat, Fish and Vegetables
    • Grains and Food raw materials

    Mitsubishi Unique Aspects

    The reason behind this up jump In investments can be the unprecedented times we all are facing, that is the pandemic. Also, the future lies in electricity and is going to be about sustainability development and natural resources. So, the company wants to invest in the future via the course available through their widespread businesses. We can also see a downward trend in the retail business because of the Covid-19.

    Mitsubishi planning reorganisations across fields of its presence(Mitsubishi Midterm 2021)

    The company revealed in the annual business portfolio that the company will be forming more business groups for the likes of natural gas, industrial materials, Petroleum and chemicals, Minerals etcetera. While the LNG demand is rising because it is the prime resource in the power and industrial sector in the Japanese market, Their mission is to tap this demand via adjustments or betterment in the present scenario to be in sync with the rising demands.

    Industrial materials are an ever increasing competitive market and diversifying materials are likely to provide the opportunity of diversification. The company is planning to redefine the role that they play In this scene. The food industry faces challenges of diversifications. Mitsubishi plans to tap this trouble too by introducing more stable and sustainable business models around this field. To calm societal problems around supply chain management. With the same target to spearhead into solutions, Mitsubishi also plans to jump around some stuff here and there in the Consumer Industry, Power solutions and Urban development to make their existing businesses in these domains more efficient and well planned.

    Consolidated Net Income 2021

    How does Mitsubishi make money?

    The Company is actually a group of group of companies stacked together in harmony, Including but not limited to these groups –

    • Natural Gas Group
    • Industrial Material Group
    • Petroleum and Chemical Solutions Group
    • Mineral resources group
    • Industrial infrastructure
    • Automotive-mobility
    • Food
    • Consumer
    • Power Solution
    • Urban development

    One of the most prominent or major source of revenue for Mitsubishi is their automotive business, That is known to us as Mitsubishi Cars. They started manufacturing cars from 1917, a luxury vehicle for the government officials. They decided to jump into motorsport with the “Macau Grand Prix” In 1962. With an inception like this, Mitsubishi went through a long history of vehicles, made for everyone. They were sold in America, Japan and eventually spread out in the whole world. From that time, Their Automotive business became a major and prime source of the revenue.

    In one of its leading places, North America, The company determined its initial target audience to be consumers under the age of 45, typically married, and with an annual household income above $55,000. Mitsubishi strategised about the best ways to reach this demographic group. The company’s solution was to pitch the Galant as an antidote to the drab routines and responsibilities of adulthood. So they came up with a tagline “Wake Up and Drive”. After cars this magnanimous giant corp is moving its legs to electric future. Yes, Mitsubishi Electric, a new sustainable approach to transportation that is matching the company’s tagline of sustainable future. Truly Thinking of one, of all.

    So, we see that the company is totally diversified to too many areas. Be it manufacturing, development, services, transport of all sorts and what not. Let’s look at some interesting data touch points in representation.

    Conclusion

    • The company has established itself as a global brand with its strong position in different spheres.
    • It is a group of companies packed together for synergy.
    • It operates heavily on its Automobile business and invests primarily in various sustainable resources.
    • The philosophy of this Corporation has three edges Shoki Hoko (CSR), Shoji Komei (Integrity) and Ritsugyo Boeki (Understanding).
    • It plans to go with the aim of sustainable growth in future, meeting the current pandemic needs.

    FAQs

    What is Mitsubishi known for?

    Mitsubishi is among the top automotive manufacturer that sold in over 160 countries around the world.

    What country was Mitsubishi founded in?

    Mitsubishi was founded in 1870, Tokyo, Japan.

    How much money does Mitsubishi make a year?

    Mitsubishi Corporation generated revenue amounted to around 15-16 trillion Japanese yen.

    What products does Mitsubishi make?

    Mitsubishi products include products in several industries that are:

    • Mining
    • Shipbuilding
    • Telecom
    • Financial services
    • Insurance
    • Electronics
    • Automotive
    • Construction
    • Oil and gas
    • Real estate
    • Foods and beverages
    • Chemicals
    • Steel
    • Aviation