In the world of technology, we came far from bringing light to the world to brighten our life. Technology played a crucial role in everyone’s life, as it brought effortless connectivity between individuals. Besides, improving the world in such a way, anything can be possible with the help of technology.
For instance, this ongoing pandemic indeed proved that technology is the sole way to connect people from far distances. On the other hand, companies are combating each other to manifest who has ingenious technology and designing products in order to make people’s lives better than usual. That’s where Carl Pei, CEO of OnePlus commenced his next move in inaugurating his consumer technology company- Nothing. The company set an aim to eliminate the hurdles between people and technology.
In simple words, Nothing is built to generate a seamless and intuitive technology for people without any barriers such as poor connectivity, quality, price etc. Some companies urge us to improve people’s lives by generating innovative products, for example, designing virtual connectivity really helped us in some way or the other in this pandemic. But, Nothing wanted the people to experience not only consumer electronics but also in life by ameliorating a seamless digital future.
Carl Pie, the founder of Nothing and Ex Co-founder of OnePlus, invested his idea in developing technology starting in 2020.
Nothing’s is a London-based consumer technology company. Therefore, Nothing is operable all over the world with a goal to enhance a seamless digital future for people.
Products & Services of Nothing
Generally, Nothing is established to eliminate barriers between people and technology. Moreover, the founder of Nothing already mentioned that the company’s main purpose is to create an ecosystem of products, whereby one device communicates to another.
As of now, on 27th July 2021, Nothing has released its very own first product- Ear (1) which bestows a raw beauty of innovation in experiencing real and pure sound.
Nothing ear (1)
After, Nothing first ever release, the company is planning to release products across multiple categories, keeping in mind that it should be an ecosystem of devices as well as play a vital part in improving the digital world in the future.
Target Audience of Nothing
Nothing only aim is to bestow a seamless digital future to the people, whose lives depend on the digital world, because technology is omnipresent.
Nothing is built to ensure impeccable technology services to the people with the goal to eliminate the barriers faced by the individuals with the technology. Carl Pei proclaimed his next venture- Nothing after parting ways with OnePlus in October 2020.
The company raised its fund around 7 million dollars from various capital ventures such as Kevin Lin, Tony Fadell, Paddy Cosgrave, Kunal Shah, Casey Neistat, Tony Fadell and Steve Huffman.
Nothing opened investment opportunities to the community, the amount to invest is estimated at 1.5 million dollars and one community member will be selected to Nothing Board of Directors. The company recently raises 15 million dollar funding in a Series A round led by Google venture.
What is Unique about the Business Model of Nothing
Nothing is established to create a free flow of technology between people. The company planned to release products across multiple categories covering all the technology devices.
Besides, Nothing has promulgated its new release- Ear(1) where it weighs around 4.7 grams and is considered Ultra-light in weight. The device’s sound is developed by the Teenage engineering community, with an 11.6mm speaker driver designed in it. The Ear (1) is estimated to function up to 34 hours of listening and comes at 6000 rupees.
The company is veil about other products which are in the line of release, so until then Nothing is progressing in generating a seamless digital world in the future.
Nothing, with the launch of its first product Ear(1) had gained the attention of people around the globe for its unique model. The Wireless Bluetooth earbuds sector has a lot of competitors like Apple’s AirPods, Samsung Galaxy Buds, OnePlus Buds, etc but Ear(1) has made to stand out with the design which isn’t similar to any other wireless earbuds available in the market and the exceptional specifications for this price range.
Carl Pei was one integral part of the success of OnePlus and with Nothing similar results can be seen with Carl Pei bringing his customers the best of artistically created consumer technology products.
Even though the company has released only one product after its incorporation last year, Nothing is aiming to prove that their services are gonna bring a unique lifestyle in the upcoming years by releasing sui generis smart devices, which you won’t even find in any other market in the world.
FAQ
What is Nothing?
Nothing is a London based startup company that deals in consumer technology. The company aims to remove barriers between people and technology and create products that are artistic and bring back passion and trust in the consumer technology industry. The company wants to create consumer technology products that are smart and well connected while enhancing a seamless digital world in the future.
Who is the founder of Nothing?
Nothing was founded by Carl Pei in October 2020 after he left Oneplus. Carl Pei was the co-founder of Oneplus in 2013. He implied his idea to bring a barrier-free between people and technology in 2015 and made his path towards creating a world of seamless digital and built NOTHING in 2020.
What is the net funding received by Nothing?
Nothing had raised $7 Million in a seed financing round in November 2020. Investors in Nothing include Tony Fadell, Casey Neistat, Kevin Lin, Steve Huffman, Josh Buckley and Kunal Shah(founder of CRED). Nothing had also invited users to invest in the company by making $1.5 million shares available to the general public. The company also raised $15 million in Series A funding led by Google Ventures.
Udaan is a Bangalore based B2C marketplace and is owned and operated by Hiveloop. Its is founded by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta and currently, Vaibhav Guptahas been appointed as the CEO of Udaan. All three were working together at Flipkart when they all decided to work together on this idea. Udaan is a B2B trade platform that brings manufacturers, traders, retailers, and wholesalers onto a single platform. According to the reports, the startup has attained soaring heights with a valuation of $7.5 Billion.
Udaan aims to reduce the middlemen among the clients and the manufacturing units so that the client receives the products at exceptional prices. Udaan desires to resolve credit score problems, B2B logistics, income and marketing. Their end goal is to cover all the clients and the retailer. Udaan confirmed its individuality through the capital infusion of around $225 million from its present investors — DST Global and Light speed Venture Partners.
Initially, Udaan was started as a logistic platform for small customers and dealers in the electronics and apparel segment. In the beginning, they simply targeted logistics for approximately 8-10 months. They gained popularity very quickly in India and constructed a large database of customers and dealers in advance and they ventured into the delivery enterprise. Very soon, Udaan is eyeing to develop itself into a lending platform for merchants.
Udaan is attempting to construct a full-stack platform for small and mid-sized firms in an attempt to create a mixture of the market, logistic services, and lending. Udaan is an enterprise in which producers and wholesalers can promote their merchandise to outlets through an internet platform or cellular app.
Udaan Business Model Breakdown
Udaan’s Business Model
Trade Kosh, Big Trade, Uni commerce, Tiny Deal are some of Udaan’s competitors. The enterprise gained popularity with grit and hard work. Despite inefficiencies in logistics, sales, and different phases, Udaan believed that those kinds of stressful situations are now no longer unusual. However, following the proper method and tech-enabled strategies assist to supply an appropriate output thus fixing the inefficiencies.
Today, the enterprise has its business spread over 500 towns and alternatives up from dealers in over 80 towns. It is an excellent platform to develop corporations both small or medium on the equal time as you purchase or promote your product. Udaan’s cell app connects almost 150,000 traders, retailers, wholesalers in India.
Udaan determined that financing operating capital has been a prime supply up stores and they intend to offer operating capital at an inexpensive rate. Being a platform for stores and wholesalers, it has additionally started lending loans to small agencies. It has also obtained a non-banking monetary agency (NBFC) license to offer a charge range to SMEs. The B2B E-trade agency has been constantly growing daily. So far, Udaan has raised capital of $1.15 Billion in total.
Udaan attempts to bring wholesalers, buyers, distributors and producers all under a single umbrella thus bridging the gaps with its B2B market system. Even though there are many more organizations who are also in the same game Udaan still soars above them in terms of its Business and Revenue. Some of Udaan’s competitors are Zoom Tail, Big Trade and Trade Kosh.
Zoom Tail
Zoom Tail is one of the biggest competitors of Udaan. Zoom tail started in 2018 and it is also a Bangalore-based enterprise. It became fashioned to offer e-commerceanswers to small and medium-sized companies. Its primary purpose is to assist the small stores to discover their market industry, buy inventory, and use diverse different gear to make their businesses bigger. It has continuously been elevating finance for the closing years to expand and enhance its generation and to be one of all the biggest B2B e-trade systems.
Big Trade
Big Trade, which started in 2017, has grown out to be India’s pinnacle B2B wholesale shopping and selling systems. It attached the small stores with the wholesalers, thereby growing their operational performance and decreasing their costs. It enables producers and vendors to set up a logo for themselves and get a sturdy foothold throughout India. In 2019, the generation department of Walmart, Walmart Labs, obtained Big Trade. The Big Trade tells us that it’s going to be a fierce competitor for the rising Indian startup, Udaan.
Trade Kosh
Like Udaan, Trade Kosh too is an e-trade B2B platform that connects the stores with the producers. It targets to offer stores with merchandise on the wholesale stage and goals to expand its inventory control and dealer control with the help of analytics and records science. However, even after going through such excessive competition, the corporation has been a hit in its success rate. This is because it has an aggressive gain which units it apart from its competition.
Udaan Revenue Model
Udaan’s wide variety of sales assets consist of revenue from Logistics offerings. A crucial asset of sales for Udaan is the shipping expenses it collects from the individuals for picking up items from the premises of the vendor and turning in the same to the buyer. There additionally are prices for amassing any cross back of income from the customers.
Udaan Revenue Model Breakdown
Amod Malviya, Vaibhav Gupta and Sujeet Kumar are the trios who founded Udaan and recently Udaan has joined the Unicorn club of startups which ultimately means that the privately held startup is valued at over $1 Billion, the term consists of a mythical character to indicate the statistical rarity of such ventures.
Udaan provides dealers registered at the platform, garage and warehousing offerings to allow them to ship items quicker to the customers. Sellers are charged a fee for such warehousing offerings. Fees from receivable control offerings consist of prices for amassing bills from customers in coins on behalf of the dealers or prices for accepting bills online on behalf of the vendor.
Commercial prices from promoting their product listings at the platform to make sure higher visibility among customers within the platform are also one of Udaan’s techniques. Udaan, through its NBFC arm, extends credit scores to traders and investors to assist them in meeting their operating capital requirements. Interest profits from such loans is a crucial supply of sales for the platform.
Udaan gives numerous different charge-based offerings to agencies registered on their platform. These consist of offerings like packaging and printing of labels on merchandise, the printing of invoices and returns control offerings. It offers electronics and client items at the market for commercial items, sparkling cease result and vegetables, workplace supply, style accessories, girls and men wear, Food and FMCG. No wonder ‘Udaan’ gained the race towards many startups.
Udaan allows agencies to locate customers, suppliers, and merchandise thus joins them to get a pleasant deal. The platform additionally allows steady bills and offers logistics support. The agency additionally gives accounting, order control and fee control answers to traders on their platform.
The startup ecosystem has grown over the past few years because many venture capital firms are investing in the early stages of upcoming startups. One such homegrown early-stage investing firm is Nexus Venture Partners, which was founded by successful entrepreneurs Suvir Sujan, Sandeep Singhal and Naren Gupta in 2006.
The firm has its main headquarters in Menlo Park, California with head offices in Bengaluru and Mumbai in India. Itis a pioneer of investing in global technology products and technology-led business for India. Nexus focuses on funding startups in the industries such as Enterprise Technology, Consumer Internet, Healthcare, Consumer, Business Services, Media, Software, Big Data Analytics, Data Security, Fintech, DevOps, Open Source, Education, Commerce, Gaming, Cloud, SaaS, Agribusiness, Rural Sector, Energy, Etc.
Nexus is an early partner firm and believes in being the first institutional investment in the seed or the series A rounds. The firm also has long term commitment and work closely with the startups they invest in. Nexus Venture Partners has over $1.5 billion in AUM, after partnering with many entrepreneurs from both America and India.
So far the firm is known to have invested in 294 companies and has over 65 exits. According to Venture Intelligence, Nexus has earned more than $500 million in exits by 2020. Nexus’s core identity has been its success in software deal-making, unlike other Venture Capital firms that only choose to fund successful consumer’s internet unicorns.
The firm also prefers to invest in companies from India or global markets and may also invest in companies located outside India with a focus on American based companies with technologies that are relevant for India and its emerging markets.
Here are some of the startups funded by Nexus Venture Partners
Snapdeal
Snapdeal Logo | Nexus Venture funded startups
Snapdeal is a well-known e-commerce company in India, which was founded by Kunal Bahl and Rohit Bansal in 2010. The company has its headquarters based in New Delhi and has recently grown to become one of the largest online marketplace in the country.
Snapdeal is different from other e-commerce sites because its sellers offer good quality merchandise, customers get to pay value for money which is similar to local markets in metro cities. The website has over 500,000 sellers that sell fashion and home products to customers from 3,700 towns and cities across India.
The company raised over $12 million in its first funding from Nexus Venture Partners and Indo–US Partners in 2011. Three years later, Snapdeal raised $133 million from eBay, Kalaari Capital, Nexus Capital Partners, Bessemers Venture Partners, Intel Capital and Saama Capital in 2014. The last investment made by Nexus Venture Partner to Snapdeal was in 2017 where the company raised funds Rs 113 crore from the firm.
ShopClues
Shopclues Logo | Nexus Venture funded startups
ShopClues is one of the top online marketplaces in India, that was founded in 2011 by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal. The company has its headquarters in Gurgaon and its parent company is Clues Network Pvt Ltd. ShopClues was said to be valued at $1.1 billion in 2015 as it was backed by top investors like Tiger Global, Helion Ventures and Nexus Venture Partners, among others.
In 2019, Qoo10 a Singapore based company acquired Shopclues for 470 million.Shopclues is the country’s first online Managed Marketplace that connects buyers & sellers online while offering a trusted and safe online shopping environment to customers in over 9000 cities across India.
The company secured over $10 million in their Series B round of funding from Helion Venture Partners, Nexus Partners and Netprice.com in 2013. According to the company, the funds were used to scale their business, increase the website’s product catalogue and expand their reach to their target audience.
Delhivery is the leading supply chain services chain company in India that was founded by Sahil Barua in 2011 and has its headquarters in Gurgaon. The aim of the company is to become the operating system for commerce in India, with the help of advanced infrastructure, logistics operations and cutting-edge technology.
Delhivery so far claims to have delivered over 500 million shipments, in 230 cities across the country. The company aims to provide products and services in order to help improve the lives of consumers, small businesses, enterprises.
They provide services such as transportation, warehousing, freight, reverse logistics, cross-border and technology services and has over 500,000 sellers and over 10,000 customers. The company raised over $5 million in its series B funding from Nexus Venture Partners in 2013. These funds were said to have been used to further expand its customer base.
Unacademy
Unacademy Logo | Nexus Venture funded startups
Unacademy is one of the top EdTech companies in India that was founded in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh. The company has its headquarters based in Bengaluru, Karnataka, and started out as a YouTube channel from 2010 to 2015.
Currently, Unacademy claims to have over 18,000 educators that offer free and subscription-based live classes along with preparation materials for professional and educational entrance exams.
As of 2020, the EdTech startup was valued at $2 billion. Unacademy raised over $4.5 million in their Series A funding from Nexus Venture Partners and Blume Ventures, Girish Mathrubootham, (the CEO of Freshdesk), and Ananth Narayanan (the CEO of Myntra) in 2017.
The company used these funds to strengthen its base of educators from 200 to 2000. Unacademy again secured over $50 million in their Series D funding round from existing Venture capital firms like Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.
Olx short for Online Exchange is a popular Dutch online marketplace that was founded in 2006. The company is owned by Naspers (South African media group), has its headquarters in Amsterdam and operates in over 45 countries.
Olx allows its users to buy and sell from a wide range of products and services such as electronics, fashion items, furniture, household goods, and vehicles like cars & bikes. In India, Olx has launched special services like Olx Autos (in 2020) and Olx Cashmycar (2018).
Olx is not only popular in India, but also has a strong foothold in countries like Spain, Portugal, Mexico, South America, China, and the Philippines. Olx secured over $5 million in its initial stages of funding from Nexus Venture Capital in 2009.
Zolostays
Zolostays Logo | Nexus Venture funded startups
Zolostays is a Bengaluru based company that provides services for co-living and accommodation options especially to students and young professionals. The company was founded by Snehas Choudary, Dr Nikhil Sikri and Akhil Sikri in 2015 and is available in more than 10 cities across India.
Zolostays provides many budget-friendly unique services like good quality food, carefully curated living space, dedicated support team, free maintenance and zo-tribe events. Currently, the company claims to accommodate 40,000 Zolo properties and is aiming at reaching 200,000 beds by December 2022.
Zolostays has raised $56 million in its Series C funding from Investcorp, Nexus Venture Partners, Mirae Assets and Trifecta Capital in 2020. It had also earlier raised $40 million from Nexus Venture Partners, Olympia Developers, Patni Computers Family Office and Mirae Asset. The company will be using these funds to strengthen its technology and AI-driven operating platforms.
Pratilipi is a self-publishing e-platform that offers content in ten different Indian languages which are Hindi, Gujarati, Bengali, Marathi, Tamil, Kannada, Telugu, English, Urdu, Punjabi and Odia. Pratilipi was founded by Ranjeet Pratap Singh, Prashant Gupta, Rahul Ranjan, Sahradayi Modi and Sankaranarayanan Devarajan in order to promote Indian languages.
The company was launched in 2014 with its headquarters based in Bengaluru, Karnataka. The platform currently claims to have over 2 crore users and allows its users to publish or read their original works such as stories, poetry, essays and articles. Pratilipi secured over $1 million seed funding from Nexus Venture Partners in 2016.
In 2020, the platform went on to raise Rs 76 crore in their Series C funding round led by Tencent with participation from Omidyar Network, Bennett Coleman, Shunwei Capital and Nexus Venture Partners.
Rapido
Rapido Logo | Nexus Venture funded startups
Rapido is a well-known online bike taxi and logistics service providing a platform in India that was founded by Aravind Sanka, Pavan Guntupalli, and SR Rishikesh in 2015. The company has its headquarters in Bengaluru, Karnataka and currently operates in over 100 cities across India.
In 2018, the company had over 15,000 registered riders and more than an average of 30,000 rides per day. By 2019, Rapido has 1 crore registered users and had also created over 500,000 jobs in India. Rapido has over 15 million customers and 25 million app downloads, as of 2021. Recently, the company has also launched on-demand auto-rickshaw hailing services in 14 cities across the country.
Rapido raised over $11.2 million in its Series A round of funding from Nexus Venture Partners in 2019. In its Series C round of funding, Rapido raised $43 million from Westbridge Capital, Nexus Venture Partner, Pawan Munjal Family Trust, Everblue Bangladesh LLC, Motherson Lease Solutions, Everblue Bangladesh LLC, Motherson Lease Solutions, Konark Trust, MMPL Trust in 2021.
Yolobus is an intercity bus aggregator that has its headquarters in Gurgaon, Haryana and was founded in 2019. The company provides its users with world-class bus facilities that cover over 250 routes across India.
All their busses have facilities Wi-Fi, CCTV Cameras, and GPS tracking, their customers can also choose from options such as a fleet of sleeper, luxurious sleeper buses, and AC/Non AC buses, built-in washrooms, etc.
In 2020, Yolobus raised $3.3 million in their Series A funding round from Nexus Venture Partners and India Quotient. The company will use these funds to ramp up their services, technology, customer, crew safety and sanitization. It will also enhance safety measures as in the times of Covid 19, people are wary of travelling intercity.
Druva
Druva Logo | Nexus Venture funded startups
Druva is a cloud backup and data protection based firm that has its headquarters in Sunnyvale, California with offices in Greenwich, New York, Hong Kong, London, San Francisco and Mumbai. The company was started in 2008 by Jaspreet Singh, Milind Borate, and Ramani Kothandaraman in Pune, India.
Druva is a leader in providing services like SaaS-based data protection and management products to both companies and government agencies. The company aggregates the data of the enterprise data from endpoints, data centers, and cloud workloads for backing it up or restoring, compliance monitoring, security, and other uses, etc.
So far the company has over 750 customers and is known to protect over 300,000 endpoints worldwide. Druva secured $130 million from Sequoia Capital India and Nexus Venture Partners in 2019. Druva is a pioneer as it has created an industry-first application known as InSync that instantaneous automates backups for laptops.
Postman
Postman Logo | Nexus Venture funded startups
Postman is a popular collaboration platform for API Development that was founded by Abhinav Astana, Ankit Sobti and Abhijit Kane in 2014. The company has its headquarters based in San Francisco, California and claims to be used by over 13 million developers and 500,000 organizations worldwide.
The platform helps in simplifying every aspect of building an API and streamline collaboration so the users can create better APIs. Postman raised $150 million in their Series C round of funding from Global venture capital, Insight Partners, CRV and Nexus Venture Partners in 2018.
The company had also been funded by the Nexus Venture Partner in two other rounds first was $1 million in 2015 and $7 million (Series A round funding) in 2016.
Nexus Venture Partners is one of the leading early-stage investment firms that has helped many Indian startups to grow into unicorns today. The firm has been the most successful in funding software companies, rather than consumer internet unicorns that other venture capital firms prefer investing in.
Over the years, Nexus Venture Partners has earned nearly $500 million exits. Despite being termed as a software investor, the firm is currently investing in a wide variety of industries.
Frequently Asked Questions
What is Nexus Venture Partners?
Nexus Venture Partners is one of the first homegrown Venture capital firms and is a pioneer of investing in global technology products and technology-led business for India.
Who is the founder of Nexus Venture Partners?
Nexus Venture Partners was founded by Suvir Sujan, Sandeep Singhal and Naren Gupta in 2006.
What are the industries in which Nexus Venture Partners fund?
The industries in which Nexus Venture Partners fund are Enterprise Technology, Consumer Internet, Healthcare, Consumer, Business Services, Media, Software, Big Data Analytics, Data Security, Fintech, DevOps, Open Source, Education, Commerce, Gaming, Cloud, Saas, Agribusiness, Rural Sector, Energy, etc.
What are startups funded by Nexus Venture Partner?
The startups funded by Nexus Venture partners are Postman, Druva, Yolobus, Rapido, Pratilipi, Zolostays, Unacademy, Olx, Delhivery, Shopclues, and Snapdeal among others.
With a premium design and outshining style, Vespa scooters have become premium favorites globally. It has become all possible because of the trending advertisements and also the modern and strategic marketing with a proper public relation of the company with the customers. And, all these marketing and publishing strategies of the Vespa scooters are performed by the manufacturing company, Piaggio.
At first, the scooter was only manufactured and was driven and distributed in the European continent of Italy only. But with time, they spread their tentacles over other countries and found an outstanding lover of Vespa globally. Behind all this, the silent performer is the marketing strategy of the company, which makes it reach greater heights. With a proper head-scratching strategy, they have involved every age group of people and make them feel unique with its proper blending.
Manufactured originally by the Italian giant manufacturer, Piaggio, Vespa has become a luxury brand of scooters. It took birth in the year 1946 in Florence, Tuscany of Italy. Ever since it was transported to the other states as well. However, the shining paints and the pressed steel body of the scooter makes it stand apart from the other brand of scooters.
At first, it started with the form of a single model motor scooter in the 1940s. But with time, it evolved and has now become a full line of scooters. It is one of the largest companies owned by Piaggio. It has also gained a fair presence over social media platforms like Instagram, Facebook, etc.
With high-performing engines and a unified structural unit, the mechanism of the fancy scooters also satisfies a lot along with the design. Evolving from the old age generation of scooters, Vespa took a little while before manufacturing some new age fascinating scooters also. And, once it came into the run, it took the market with fire.
Vespa – Marketing Strategy in a Nutshell
Vespa Scooters
The marketing strategy of the Vespa scooters is a little different and significant than the other ones. The marketing strategy includes some valuable points like:
1. Focusing and investing in Youths: It is pretty clear about the sales that youths get interested in the Vespa scooters without any fuss. They want to stand out from the public. They want to be significant and different from the others. Hence, Vespa tries to focus more on what the youth is trying to get. Hopefully, they also represent their designs and advertisements fascinating to the youths.
2. Maintaining the stability of the engine: A Vespa scooter, having a 124cc engine, is no less than a 124cc bike and provides an amazing pick up speed. The power of the engine is also great. It has a maximum power of 10bhp at 8250 pm. These all make the Vespa scooters the undisputed king of the scooter market with powerful engine stability.
3. Premium Pricing: The Vespa scooters have set a proper and premium lifestyle of their scooters to reflect the exclusiveness of the product. It is also to get their audience to enjoy the ride at an affordable price.
Vespa – Target Audience
With the company’s market placement and functioning of the products, the target audience also varies. Vespa focuses more on the younger generation i.e., people of 18-35 years old. The customers behave too loyal to the company. They provide great word of mouth to increase the market value of the company within society.
On the other way around, the company focuses on the people, who never mind spending a little more, but enjoy having a great ride with their loved ones. These people often try to make their face value great. They do so by having a higher face value scooter beside them. It is why the company focuses on them. Before this strategy, the company never really focused on the youth this way. But after the launching of the new age scooter Vespa in India, they knew this is the best way to grow.
However, how much they focus on these elite clubbed youths, but the area of focusing remains stagnant and low due to obvious reasons. Nonetheless, they try to get what these prior customers need. They also provide these specific and beneficiary changes with time.
It holds the topmost position in the European market and upholds a strong technologically advanced process.
The weakness of the company includes:-
Although it has a worldwide market, it still depends on the Indian and other Asian Pacific markets for its success.
It needs the young generation to take hype with this. They are mainly the targeted audience of the company.
The most possible opportunities for the company are:
As the company has a huge market base, it also creates an opportunity to develop a potential market and a better economy.
With its fascinating design, it has created a rise in demand for the two-wheelers.
Vespa – Brand Positioning
It becomes too important to create a significant image of the company in this cutthroat competitive market. To get a proper image, it needs to create differentiated products apart from the competitors. It also needs to sell them to reach the audience. The competitors of the Vespa scooter brand include Hero, Honda, Suzuki, Alpha, and so on. It is also to keep in mind that these competitors also have a great face value in the market.
However, this market and the face value of the Vespa scooters can be under maintenance if they still make these beautiful and sustaining products with time. This brand positioning of the Vespa attracts many people and those customers who want a premium brand of the scooter with high pricing quality.
The social media strategy to promote products is not a new one. But, there is a difference in how you use social media. Vespa managed to get into different social media sites, mainly Instagram and Twitter. At such platforms, it got a hold on the nerves of the youth. With the new and exclusive models of the scooters, they started taking the requests from their social media audience regarding the products.
And, when the product was out, they revealed the look in the social media handles first. It was exclusively for their followers only. Various engaging competitions also were the activities of the company. Many tie-ups with different movies and other brands also helped in creating a hype of the new model.
They also retweeted almost every tweet which discussed the pros of the scooter. It made them provide the word of mouth of the people. With different festive offers, they also run discounted offers on social media. These offers were for products to the products which are directly ordered from their social media handle only.
The brand endorsement of the company is too strong is done globally by celebrities. Globally, the brand ambassador of the brand is the famous soccer player Alessandro Del Piero who has performed many television advertisements and other campaigns for the company.
On the other days, the campaign also featured itself in the football World Cup, showcasing its powerful pros to the audience. These different campaigns by the celebrity also get a super speed uprise to the hype of the company and pull the attention of the irregular customers to talk about it.
This Italian luxury brand scooter Vespa put its an impactful presence all over the world. The Vespa sold its maximum scooters through promotion is from Hollywood movies. Vespa scooters are featured in many movies. Lots of film stars use it to shoot their role. From early 1946 to now, they improved a lot in their engine power and performance. But you can see they modified less in its look. They believe their look is their real identity. Despite all, you can see 34 different versions of Vespa. It may be an old brand, but it is still popular among the youths.
FAQs
Who is the brand ambassador of Vespa?
Alessandro Del Piero is the brand ambassador of Vespa.
Who manufactures Vespa?
The Italian company Piaggio group manufactures Vespa.
Being a business person has become somewhat of a trend. Newer businesses are emerging fast. And this growth in the chessboard of business only leads to more competition. In this arena of business tycoons, if a company rises and flourishes, it’s only because of its sound marketing strategies and the heads of the companies and the employees giving their best shot each day. Not every industry starts big. Not every person starts rich. It is the sheer will and perseverance that let’s business rise.
In this very competitive world, Adani Total Gas is a part of the Adani Group of companies that has set a spot for itself. With an intricate system of gas distribution, this company is quickly rising.
Adani Total Gas is an subsidiary of the Adani Group of companies, with Gautam Adani as its owner. It dates back its foundation to 2004. Its function is to supply Natural Gas. It supplies natural gas in various forms such-like Compressed Natural Gas (CNG) and also as Piped Natural Gas (PNG). It is a non-polluting alternative energy source and is for the great benefit of our country.
Areas of operation
At first, it started operating in Ahmedabad, the chief location of its headquarters. At present, it supplies natural gas to four different places. These places include Ahmedabad along with Faridabad, Baroda, and Khurja. Along with Indian Oil Corporation Ltd, it functions at several other locations too. Currently, Adani Total Gas has about 84 CNG stations stretched across 7800+ km. They have stretched their business across 71 districts wherein they serve about 8% of the population.
Key products and services
Adani Total Gas deals in fuels that do not have any harmful impact on the environment. A quick view of its chief products and services are:
1. City Gas Distribution: CGD is the primary goal of Adani total Gas. It is the network in which CNG and PNG distribution carry out within the cities where Adani Total Gas functions. At present, due to high pollution grades, changing our fuel is necessary.
2. Compressed Natural Gas: CNG distribution is functioning in various locations. At present, the number of vehicles is increasing at striking rates. Fossil fuels are not only creating pollution but also depleting rapidly. CNG can be an environmentally friendly and non-depleting alternative to this.
3. Piped Natural Gas: PNG is Natural gas in piped form. Its distribution is to both industries as well as households. PNG is necessary for air conditioning, refrigeration, heating, boiling of water, and cooking, etc. This gas is also utilized in industries for its various operations to take place. In the commercial sector, the transfer of PNG is also done to various hospitals, hotels, fast food joints, offices, etc.
4. Online billing operations: to catch up with the present day, simple billing operations for gas are now available. Self-billing, billing on WhatsApp, UPI, online transfer all are a part of this.
Target Audience
The target people include those who own factories, industries, malls, restaurants, offices, and also the common Indian household which at present use PNG. PNG, which is much safer than LPG, is now gaining popularity. It is essential to perform many functions. Hence people have started preferring it. Also, the target is people engaged in the transport sector.
The business model of Adani total gas is a part of the business model of the Adani Groups. It’s a strategic and well-crafted business model. It focuses on expanding the business as well as for the reduction of usage of fossil fuels and the less safe fuels. This business model may serve as an inspiration to other industries which have just started or are planning to start.
At present, Adani Total Gas holds the authorization of 38 GAs. Hence, we can break down its business structures into two parts:
AGL Licenses
Association with IOC
While AGL Licenses constitute about 100% of its business units, IOC and Adani Total Gas hold their association with 50% share each.
With its customer-centric approach, Adani Total Gas has also stepped ahead in the field of automation and digitization. Some of its various initiatives in this field include POS payment methods, payment of gas bills through WhatsApp, cashback, and others. All these initiatives have helped Adani Total Gas broaden its approach.
With every new setback, Adani Total Gas Limited raises the bar of becoming an exemplary business model for others. Unlike others, it mainly focuses on customer satisfaction and providing the best service to the customers. It also subtly focuses on the business development and expansion of the territory of business to different demanding sectors.
What is unique in the business model of Adani Total Gas?
Their business model is unique as Adani Total Gas has set out to be the country’s largest producer and supplier of CNG (compressed natural gas) and Piped Natural Gas. To achieve this goal, the company’s sound strategy and an expansion policy find their applications. People are getting to know about the perks of using Natural gas instead of other fossil fuels. It leads to more profit-making of Adani Total Gas.
In its business model, the key features can are the following points, which have led to the rise of Adani Total Gas :
1. Focus on Quality of Service: Adani Total Gas always keeps a strict glance on the topmost quality of the product and keeps it a record, that the quality must not degrade.
2. Expanding Business Territories: The brand never settles down with just one business in hand but takes prior steps to expand the business in whichever markets it is necessary for.
3. Buying shares: The company invests a lot in buying shares from the same group of companies. It further helps them make money. The real perks of being a conglomerate become visible here. It is because all the investment takes place within the group. Also, the profit of any other group company may find its utilization to get rid of debt possessed by Adani Total Gas.
3. Eco-friendly approach: As Adani Total Gas deals in Natural Gas, it’s an eco-friendly approach and lets people know how fossil fuels are depleting.
Adani Total Gas has stated itself as one of the most effective and efficient establishments in planning strategies to conquer new business markets and provide the best service regardless of any complexities.
How does Adani Total Gas make money?
As we can easily see, the business model of Adani Total Gas is a well-crafted strategy for the extraction of profit. It makes its money by the distribution of natural gas, both in compressed and piped forms to various industrial, domestic, and corporate sectors. It further wisely used its profit to invest within its group of companies. This strategy makes the business model of Adani Total Gas stand out and inspires others.
Adani Total Gas has established proper customer support through the B2C business model, by which it gets its revenue from the customers directly. It also ensures one of the best business models by which it guarantees the best service at an affordable price. Adani Total Gas has also gained a lot through the speeding of the oil-based service and providing them door to door, without any hesitance. This has resulted in fastening the number of consumers within a limited time.
The company started with a scratch. Only because of its sound business model, it is now planning to become the largest producer and distributor of Natural Gas in our country. Its partnerships and help from its sister companies help Adani Total Gas to expand and to gain.
Conclusion
In the monopolistic world of business, Adani Total Gas has already established itself. With strategic planning and the judicious use of techniques, the company is not only expanding. It is also soon to become the number one producer and distributor of natural gas in our country.
We should remember that nothing starts easy, but only with the power of will and intelligent planning, a company strives and grows. The distribution network, the helping sister group of companies, and the founders are the pillars who made Adani Total Gas what it is now.
FAQs
What Adani Total Gas do?
Adani Total Gas Limited is Natural gas distribution company that monitors pipeline systems to ensure safe and reliable delivery of natural gas.
Who is the owner of Adani Total Gas?
Gautam Adani is the owner of Adani Total Gas.
What is the revenue of Adani Total Gas?
The revenue of Adani Total Gas is 584.5 crore INR.
Covid-19 has completely disrupted the Travel and Tourism Industry at both the national and international levels. With the worldwide lockdown and the heavy travel restrictions, the industry has lost not only domestic and international tourists but also local visitors. According to the United Nations World Tourism Organization (UNWTO), International tourism has witnessed a loss of $1.3 trillion in 2020 while the Indian tourism industry saw a revenue loss of ₹1.25 trillion, as per the CARE Rating study.
The pandemic has impacted all divisions of the tourism industry such as inbound, outbound, corporate, MICE, adventure, and leisure and will continue to underperform for the next two quarters. Tourism will account for 9.9% of the country’s GDP by the end of this decade with the help of Government initiatives.
The losses to the Indian Tourism Industry in 2020 have been huge but 2021 shows the revival of travel with the rise in vaccination. Significant changes were observed in traveling like more emphasis given to safety, cleanliness, and hygiene. The states that are getting the maximum tourists are Himachal Pradesh, Uttarakhand, Rajasthan, Goa, and Kerala.
Ever since the Covid-19 Pandemic had arrived, the tourism industry started evolving and changing ways in order to suit the needs of travelers. With the reduction in Covid cases in India, theCentral and State Governments of the respective states have issued many standards and basic operating procedures in order to resume services. Major protocols are being taken as the security scan at the entrances of various locations like hotels and airlines involving thermal screening and sanitization and the staff is even extra cautious than before.
The Post-Covid Scenario of Tourism Industry
Many countries around the world are catching up with innovative solutions and activities to boost their country’s travel industry. Some of them include safe travel bubbles, SG Clean, Qatar Clean initiatives. Many travel agencies are now providing incentives, offers, and discounts to get people to travel. Understanding the solutions and practices being followed in different countries will help India in implementing the right strategies for the survival and revival of its tourism industry.
Many services have turned contactless and are following all major protocols of safety and social distancing. Simpler activities like live cooking, disposable cutlery, online food delivery services, and digital menus aids in the growth of the industry. The hotel, restaurants and resorts are following strict SOPs for Covid-19 to create a protective environment. The government is also providing relaxation against free loans, provident fund relief, and GST.
The relaxation in the lockdown along with the gradual lifting of travel restrictions shows constant opening and closing of travel make tourists feel uncomfortable to travel internationally. But 2021 saw an increase in domestic tourism, while foreign tourism is expected to remain low until the situation improves. One of the main reasons for the future boom in the domestic sector is that travelers in 2021 prefer to explore their own country and go on short weekend trips.
Here’s a look at the most affected sectors of tourism due to pandemic
Hence, increases the sightseeing of remote destinations and helps the locals to get their livelihood back. This, in turn, boosts the local economy, creates more jobs, and helps the hotels and restaurants of the region, promotes local art handicrafts and culture. With more importance given to safety and social distancing, tourists think that it is safer to travel shorter distances than compared to the longer ones. This is why many people are opting for short road trips to unknown destinations with less crowd.
The domestic vacation is now on top of the traveler’s bucket list for 2021. Just the first week of January 2021 saw 70% of users booking for future domestic trips on Tripadvisor. In the US, over 74% of travelers preferred to go on an overnight domestic leisure trip in 2021, and over 34% are planning domestic trips, which is quite high as compared to other countries like Australia (31%) and UK (24%).
So let’s take a look at the 2021 travel industry’s trends that are likely to show up in the future.
Travel Industry Trends in 2021
Workation Trips to Increase
Work plus vacation or business plus travel is not a new concept that has arrived in 2021. But the business travelers are said to be rising in 2021 because many companies are opting to work from anywhere culture. This is why they have come up with brilliant travel plans that will help employees work along with leisure. Employees also have the option to bring their family members. The concept of business travel is getting popular as people have started to realize that all people need is electricity and a good internet connection to work.
Work plus vacation has become a latest trend now
Road Trips are the New Trend
With many restrictions and travel bans, people have started opting for short road trips. Many tourists have started avoiding public transport like buses, trains or even airlines. Instead, they plan to go on road trips in their own vehicles or rent a car, as it is a safer option. Road trips are popular among tourists of all age groups and families. In addition to that, it reduces the travel expenses and vast options of destination to choose from.
Road Trips, a budget-friendly option for travelers to travel around the city
Promotion of Sustainable/Eco-Friendly Tourism
The pandemic has made people realize the importance of implementing sustainable ways of traveling. The tourist now is looking out for eco-tourism to get in touch with nature. In 2021, tourist focuses on responsible travel to remote locations or natural areas in order to experience the local culture and contribute towards the sustainable growth of environment. Tourists have become more conscious nowadays and are accepting more eco-friendly methods to reduce their carbon footprint.
Sustainable Tourism has become traveler’s best choice for embracing the nature
Travelers are keen on researching more before making any travel plans. With Covid-19, it’s no surprise that people are more conscious to travel. According to a survey, more than 74% of the global tourist population say that they will spend more time researching everything about their destination. People are spending more time in reading reviews or checking for better accommodations before planning any itinerary.
Post-vaccinations Impact on Travel
With the rise in vaccination drive, the travel industry has started blooming. People have started planning their trips as they’re excited to finally be able to travel carefree. The new travel protocols, however, will include compliances for travelers including Immunity passports for tourists to provide proof that the tourists are vaccinated for the virus. More than 77% of global travelers likely to agree to travel internationally only after getting vaccinated.
Why Travelling Will Never Be The Same
Solo Travel is the Way
Solo travel or even backpacking has grown exponentially with the pandemic. Co-living is also another new trend related to solo traveling. It is when solo travelers are looking to save money and time by getting out of their comfort zone and meeting other solo travelers while traveling. Solo travelers involves themselves in activities that includes social distancing.
Solo Travel has become a new travel industry trend
Safety and Cleanliness are the Priority
Safety and cleanliness have become priority for travelers across the globe since Covid. And the travel industry is already implementing major guidelines and protocols including PCR tests on arrival, mandatory masks, sanitation, and frequent cleaning in different sectors like hotels, airports, restaurants, etc. to provide a safe environment.
Many experts in the field have given their recommendations on how to get the industry back on track. Some of them include:
Airlines, hotels, restaurants, and other tourist operators can adopt greener and eco-friendly solutions in order to increase their business while being sustainable.
The industry must encourage renewable energy and green project to help the environment.
The government must try helping the industry with interest-free loans for up to 5 years which makes it sustainable.
Implement compulsory masks everywhere and basic social distancing laws and regulations.
Promote lesser-known tourist destinations of India.
Make it easier for the tourist sectors to get licenses, permits, and renewal.
Reduction of GST rates in the travel and hospitality sector.
FAQs on Travel & Tourism Industry
What are the top travel industry trends in 2021?
The top travel industry trends in 2021 are:
Workation Trips to Increase
Road Trips are the New Trend
Promotion of Sustainable/Eco-Friendly Tourism
Research Before Travel
Post-vaccinations Impact on Travel
Solo Travel is the Way
Safety and Cleanliness are the Priority
Which one sector is going to see a rise in tourism in 2021?
2020 has completely disrupted the travel industry but 2021 is showing the revival of travel. The tourism sector will be very different than what it was before. The domestic sector is witnessing a surge as people are avoiding foreign travel and the situation is going to remain the same till the pandemic is over.
What are the SOPs followed by the tourism industry in India?
The SOPs followed by the tourism industry in India are security scans at the entrances of various locations like hotels and airlines involving thermal screening, wearing masks, sanitization, and social distancing.
What is the fastest-growing trend in the travel industry?
Eco-friendly/Sustainable tourism is one of the fastest-growing trends in the travel industry.
Is the travel industry growing?
The travel industry will slowly and gradually see a surge in the traveler once the pandemic is over. Currently, domestic tourism is growing at a slower pace. The reason being, people are feeling bored to remain at one place and therefore planning short trips.
In many parts of the globe, linguistic differences still exist, which creates a lot of diversity. People face this complication of language diversity now and then. But, it all becomes easy to understand the efficiency of an app that does it all for you. And, here steps in one of the best language learning apps, named Duolingo.
Luis von Ahn and Severin Hacker | Duolingo Founders
Created by the American Businessman Luis von Ahn and Severin Hacker, it works as one of the most efficient and most-used apps with almost more than 500 million users and consisting of over 40 different languages within it. However, before heading towards the insights, we must take the basics of Duolingo with us.
Although these are just some mere insights to the company, still a lot of queries may pop up in your mind regarding the source of income of the company and also how they make it all possible free of cost. It is not that difficult either to stretch out the things and with this article, you would get all your queries answered.
Areas of Operation
Among 500 million registered users, Duolingo has about 40 million active registered users from every corner of the world. Duolingo allows everyone to take their 117 different language courses and learn about 37 languages spoken worldwide.
Services provided by Duolingo
Starting from a layperson to a top-class educator, Duolingo makes it easy for all to understand anything related to any language. The best thing is that every service is done at free cost, for ordinary people. And, these services include:
1. Educational Services: Educational services refer to all those efficient works that help people increase their knowledge and enlighten them. In many schools, Duolingo is often used to track the records of the students and also helping in the translation methods. Covering almost all the world’s languages makes the process easier to understand and study any language possible. Some other educational services also include: a) Making complex sentences into simpler ones. b) Providing language courses to increase language knowledge.
2. Listening Exercise: The more one listens, the more they understand the proficiency of the language. Listening to the language can help one understand the pronunciation and also get a better view of how to speak the language in sentences. In this Duolingo, app one gets all these facilities quickly and also free of cost. One can also choose the accent of how one must speak and of which accent one must practice speaking.
3. Performing Drills: Understanding and learning not only helps one to strikeout. Exercise is also a must to excel. Hence, Duolingo also gives one sufficient amount of space and necessary exercise to get the best learning. It also makes one curate its mistake and indicates the right thing to do.
As we are clear with the modes of service Duolingo provides, it is not that difficult to guess either, hoe it also generates revenue from all these services. Still, the model follows.
Target Audience
Since the day of its birth, Duolingo has always focused on teaching people about various languages. But recently, it also started an English literacy app for children belonging to the age group of 3 to 6. It’s a free app that came up with the motive to cut down literacy at global levels.
Business Model Of Duolingo
Just like a lot of social media apps and also a lot of other famous traffic sites are generating revenue from advertisements. Somehow, the same applies to Duolingo also. It’s an early business model focused more on crowdsourcing and testing. With the demand for money, it started breaking down and expanding its services with new monetary services.
The business model of Duolingo is similar to that of Re-CAPTCHA. In this, the system extracts information from the user for their verification. Similarly, in the initial days, Duolingo sought assistance from humans to convert and translate its documents. It makes crowdsourcing and gamification the critical parts of its business model. The business model of Duolingo by which it generates revenue is listed in the following way: 1. Advertisements from different sources 2. Paid Subscription 3. In-app purchases
We’ll discuss them while diving deep into how Duolingo makes money out of its business model.
Duolingo was established in the year 2011 in Pittsburgh, Pennsylvania. Duolingo grew to be known as one of the most famous language learning platforms in the world. Presently there are over 500 million users who are enjoying its service by getting registered.
1. Duolingo is a big platform that offers its users the capability to learn over 45 languages widely ranging from Russian to English. 2. Duolingo’s business model is based mainly on crowdsourcing information, making it one of the ingenious business models of the next generation. 3. Duolingo generates its finances with the help of premium subscriptions, language proficiency tests as well as display advertisements. 4. The company mainly works according to a freemium business model. Duolingo keeps working on a freemium business model. 5. Duolingo’s lessons are built with a range of diverse tasks. For example, Duolingo asks its students to write a sentence on their own. It also asks to translate a sentence or search for similar words equivalent to their foreign language. 6. Duolingo encourages its users to continue their learning process by teaching with a gamification system.
With its client base from renowned websites such as CNN, BuzzFeed, etc., Duolingo has served as a professional translator with a vast client base and reasonable prices. Decoding the sources of revenue of Duolingo, the chief streams of income are:
1. Advertisements from different sources: Ads have become a very great medium to generate revenue. These ads are virtual and are distributed on other major trafficking apps, which get paid for allowing these ads to get featured within them. Hence, Duolingo also works the same way, and many ads feature in the app while working. There are a lot of ads feature. Still, they also are similar to what the user is looking for. It makes it easier for both the user and the seller to get on the same page. However, there are also some benefits like: a) People may try to buy the premium to grab ad-free. b) The company earns revenue through the premium. With this advertisement process, the company generates almost half of the total revenue.
2. Paid Subscription: The subscription works like a gold membership nowadays. It unveils many new hidden features to which the ordinary and unpaid users did not have access. Hence, a lot of users who use the app for the professional purpose and use the app in a daily basis, they purchase the subscription. The subscription can also help them in many ways like: a) An ad-free interface, with an unmistakable look b) Unveiling of a lot of new facilities c) Regular progress quizzes With all these paid memberships, the company generates almost one-third of the total revenue together.
3. In-app purchases: The extra facilities that one can get from the app after installing them. These purchases can include some different subscriptions to any other service that Duolingo provides. Or can also be some additional service or content. However, the company Duolingo gets very little from the whole revenue from this strategy, which is only 8 to 10 %.
Although it is believed that it provides all of a free of cost, it still generates revenue from nowhere, from where the users can even imagine. The paid subscriptions are the officially best way of getting income, but due to the super fiscal advertising world, the ads create a solid revenue base from literally nowhere.
‘Duolingo Plus’ also comes out as the subscribed version of the app, to which one gets all the access and benefits of the app. Some crowdsourced revenue is also generated as the organizations like CNN and BuzzFeed pay Duolingo to get the translations done. And, all these sum up to generate some significant amount of revenue for Duolingo.
Conclusion
Unlike other networking platforms, Duolingo gets almost half of its income from the advertisements, where they just get paid if a user scrolls down through the app. It all makes it so easy for revenue generation and also creates a new hope to take better steps to get the best out of it.
Although except the United, States the app has not got enough amount of highlight or traffic, still its growth is looking stunning. With exceptional features, it is liked by every user, and the interface is making it look so easy to work on it. And, with the differentiated service of both paid and free preferences, it is creating a great trust and has gained a very permanent place within the people.
FAQs
How many languages courses are there in Duolingo for English speakers?
There are 37 distinct Free Language Courses for English Speakers.
How many Duolingo Language Courses are there?
There are 117 free Duolingo language courses.
Is Duolingo app free?
Duolingo app is free. You can learn languages on Duolingo completely free. There are premium subscription called Duolingo Plus for better user experience.
What does Duolingo cost?
Duolingo offers free learning, however, there is Duolingo Plus subscription which costs $12.99 per month.
Just like other industries, the Covid-19 recession has crushed the travel and tourism industry and thus affected the car rental market in India. But with the increase in the vaccination drive and return to normalcy, the industry witnessed a surge in its service.
The car rental market is projected to reach US$1,973m in 2021 and is expected to show an annual growth rate (CAGR 2021-2025) of 12.38%, resulting in a projected market volume of US$3,147m by 2025, as per the reports of Statista.
Here’s what you need to know about the car rental industry in India.
These days, it has become convenient for people to book or rent a car from anywhere via technology-enabled online car rental services that can be accessed with just a touch or tap of a button.
Today, everyone owns a smartphone and accessing such services seem as easy as pie. There are just three steps: Pick, check availability, book the car, and it’s done. Amidst the use of technology tools in one’s car rental business, the rental service option is holding rich potential for expanding services and improving access for many users all-round.
However, such online platforms have managed to speed up the growth of the Indian car rental industry and have also enabled several offline service providers to upgrade their business model and more importantly by following the digital route.
Advantages of Car Rental
1. Easy Access
With being the most eminent in the travel industry, Car Rentals offers the best automobile options based on customers’ requirements. From travelling to another city to being a part of a business meeting, car rental services surpass all expectations.
2. Liberty from repair and maintenance
The biggest advantage that rental cars have attained over personal cars is perhaps the relaxing guidelines for repair and maintenance. Most car rental companies have a basic protocol in case of any accidental damages caused to their vehicles by the customer, which involves the advance security deposit or minimal charges.
3. Cost-effective
Relatively speaking, the rental car industry is the economic hub, because of its dominance over personally owned cars, especially when it comes to being pocket-friendly. The travelling option is cost-effective allowing the customers to save more, at the same time offering a hassle-free experience.
4. Elasticity in vehicle hire option
A typical hatchback car can fit just 5 people. However, car rentals could be the best choice when it comes to travelling in a larger group. The majority of the car rental service providers allow the users to pick personalized cars as per their travelling needs. Although some have an in-house team of dedicated experts to assist customers to make a better selection of a vehicle based on their individual requirements.
Myles was founded in 2013 by Sakshi Vij. It is a leading self-drive car rental service provider in India. The cars offered by Myles range from economical hatchbacks to SUVs.
Myles Website
ZoomCar
ZoomCar is a car rental company that also started its journey in the year 2013. It allows the user to rent cars on an hour, day, week, and monthly basis. ZoomCar is headquartered in Bangalore and has spread its services in Pune, Delhi NCR, Mumbai, Chennai, and Hyderabad.
The car rental industry has started accelerating in India amid the Covid-19 pandemic itself. The continuous upscaling of India’s vaccination drive and return to normalcy has fueled the demand volume of rental vehicles. People are getting more confident to step out of their homes and travel. The industry is expected to reach the pre-Covid-19 situation soon.
FAQs
What type of business is a car rental company?
A car rental company is a type of business that leases cars for a shorter duration of time like a few hours or a few weeks.
How much does it cost to rent a car in India?
On average, a rental car in India costs ₹2000 per day.
Is the car rental business profitable in India?
The car rental business in India can be quite lucrative and profitable if you learn what steps should be taken in order to maximize your odds of success.
Can I give my private car for rent?
Yes, you can give your car on a rent basis to the companies.
How big is the car rental industry?
The car rental market is projected to reach US$1,973m in 2021 and is expected to show an annual growth rate (CAGR 2021-2025) of 12.38%, resulting in a projected market volume of US$3,147m by 2025, as per the reports of Statista.
Who are the major players in the car rental industry?
The major players in the car rental industry are as follows:
Many business owners around the world have discovered that the key to success is not just on the merits of the idea or quality of their product but also on their ability to attract customers. If you can’t attract your customers, there
With new startups being launched every day people are spinning around to try growth hacking strategies where the companies analyze and evaluate their customer base and then tirelessly pursue growth with that knowledge.
Growth Hacking is an innovative and unorthodox way of getting massive results by eliminating old conventional methods. The ultimate goal of growth hacking techniques is to promote your product without putting additional input of your time and money. But before we start exploring the best growth hacking techniques for your startups, we need to first understand what growth hacking is.
A great explanation of Growth Hacking for beginners
Growth hacking is simply a marketing strategy that is based on market research and experiment. It is used to find out the most cost-effective ways to grow your business.
In the process of growth hacking, you have to include different types of metrics such as data, design, development, engineering, analytics, and statistics. The reason why it is called Growth hacking is that this is the best marketing strategy a growth hacker can use to find the most groundbreaking, creative, and fast way to grow a startup.
There are best growth hacking strategies used by Startup growth hackers. Some of them include blogging, guest posts, reverse engineering, A/B Testing, SEO, email marketing, video marketing, viral marketing, and other kinds of content marketing techniques.
The term “Growth Hacking” was officially used by Sean Ellis, the founder of GrowthHackers, in 2010.
Growth Hackers, one of the best software for growth and marketing processes
He defined a growth hacker as
“A person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth”.
Most of the time, Growth hackers are a crossbreed of marketers or coders or a person who has a deep knowledge of technology. They are the people who look at the conventional query of “How do I get customers for my product?”. They answer with viral factors, landing pages, open graphs, and email deliverability. A growth hacker should have problem-solving skills.
Now you understood what growth hacking is. So let us see some of the ways how you can use it effectively to attract customers. Here we bring you a curated list of the 7 best growth hacking techniques for startups.
7 Best Growth Hacking Techniques to boost your Startup
Listed below are some Growth hacks which, if applied perfectly, can bring you a lot of customers.
Have A Clearly Defined Goal
As a Startup Growth hacker, you need to define your goal first. You have to identify the purpose of implementing business techniques for growth. You will also have to research your target market so that you will be able to know if you are doing everything right or not.
Have a clear unique goal so that it can be further broken down into small achievable micro-goals. For example, goals like, how many customers do you need per week? Or how many leads do you need in a week?
Defining your goal clearly will make it achievable as well as help you to get closer to success.
One of the essential business techniques for Growth Hacking is to develop your small startup by incorporating sharing into its functionality. Sharing, here means that your content can be directly linked to social media platforms, granting your users to do the work of marketing for you.
When people support something via social media, they are recommending it to their friends, increasing the chances that someone new will discover and check out your page or product.
One company that implements this growth hacking strategy very successfully is Pinterest. This is an era of online marketing and you can use this as an advantage for your business. If your content is too good and has the power to go viral then you can easily build trust with your audience. This will also increase your social media engagement in long term.
Affiliate Marketing Program
If you want to get traffic to your website with a low budget, you can develop an affiliate section and invite people to register there. Once they register, they will be able to promote their affiliate link with their audience and make some money.
This is one of the most cost-effective ways to grow a business. All you have to do is share a small part of your profit after you have a lead. Many big brands are using this strategy to grow their business like Amazon, Flipkart, Snapdeal, etc.
In this process, you don’t have to worry about the traffic or audience because the affiliate marketer will promote your site to their audience. There are so many tools available that will help you to track the sale of each affiliate marketer and automate the distribution of commission. Some of the best Affiliate Management tools you can use are:
Incorporating Features into the Product to Encourage Sharing
Incorporating CTAs into the product or content will serve as a physical reminder for existing customers to spread the word about your product, and this will naturally attract potential customers.
If your company makes a certain product, one great way to aid in spreading its popularity is to incorporate a mechanism into the product to encourage them to share it or to create a companion product that encourages distribution.
You can also offer rewards to your existing customers who share your content or refer your product with their friends. This way you can double the sale in lesser time. This method of marketing is called referral marketing and it is one of the most rapid methods of growth hacking that helps you to grow your business in a very short period of time.
The Freemium Model
One of the foremost ways to convert a potential customer into a paying customer is to offer free services or products and then market your main product through the free product.
The free and paid products you offer should go well together with each other so that when people sign up or receive your free product or service, they also want to pay for the priced product or service.
For example, Grammarly lets people use its app or extension for free but it keeps reminding the user that they can pay for their premium service to get an extra feature.
Grammarly
This business model is called a Freemium model in which a company has both, a free and a premium product for the user. You can also offer a product at a lower cost to your target audience and then market your main product with the help of the first product.
You now know that person is using your product, so he/she may get interested in your main product too. This is a method that is used by many Digital Marketers.
The best thing about it is that it helps to get a large amount of traffic to your product or service. Once the sale is done, you can up-sell a high-ticket product. It is the best practice to take feedback from your users and make it the best product available in the market. it will help you to build trust among your audience.
Piggybacking
One of the innovative ways to grow your customer base quickly and easily is to piggyback on a company that already has tons of users. Piggyback marketing is to deal with a non-competing brand and advertise both the brands with the same piece of content or using other brand’s audiences to generate leads.
Piggyback marketing
If you are a new startup and you don’t have any target audience or customer base, you can piggyback on a company that is related to your business but is not your competitor. Piggyback is a marketing strategy used by some of the popular brands to get the adherence of the audience.
One of the best examples of Piggybacking is PayPal. After piggybacking on eBay, PayPal got the attention of the users.
Partner with the existing company
If you are not in the favour of getting a piggyback ride with the other company then an easy way out is to make partners with an existing company advertise your brand.
Partnering with a company will give you free marketing to the group of customers that they attract. In exchange, you will have to market their product or service to your audience.
There can be some financial bonus involved in partnering with a company. These schemes will ensure that your company grows and reaches the perfect category of audience.
Conclusion
These were some of the Growth hacking techniques which companies use frequently to boost their sales. A startup can easily apply the same to market and grow their business.
Growth hacking is a long-term process. So, even if you don’t see any solid results in the first few days, be patient, because if you have done it right, they will surely show some results.
FAQs
What is a growth strategy?
A growth strategy is a plan of action that allows you to achieve a higher level of market share than you currently have and expanding your current user base.
What does a growth marketer do?
A growth marketer runs constant, iterative tests throughout the funnel, and uses the results to craft data-driven strategy updates that lift key performance metrics of the company.
What are the four major growth strategies?
There are four basic growth strategies you can employ to expand your business are:
Market penetration
Product development
Market expansion
Diversification
What are the best growth hacking techniques for startups in 2021?
The best growth hacking techniques for startups in 2021 are:
Have a clearly defined goal
Incorporating sharing into its functionality
Affiliate marketing program
Incorporating features into the product to encourage sharing
The height to which a business can be taken is sometimes hard for the eyes to meet. Some turn out to be pro at this, whereas sum ends up with nothing on this earth. Several factors together build up to make a successful business stand; it becomes tough and competitive to keep all the elements simultaneously. Some minds prefer sticking to one type of business. On the other hand, some reasons go a step ahead creating various branches on which their business runs.
Likewise, ITC limited is one that comes under the second category. With utter determination, it has become a well-renowned brand that pops up in nearly every advertisement that we come across. Not just stopping at one-way success, ITC made sure that it ends up ruling its domain. So here in the lines which follow, we will be sailing through the functioning and execution of the ITC limited.
1910 being the birth year of this highly established company, Kolkata in West Bengal houses its headquarters. Generally, ITC can be simply understood as a multi-industry company with its working hands in more than one business field. And that too is confined to single geographical coordinates, instead of growing with many locations in hand. However, the source of these hands is familiar with Sanjiv Puri as the chairman and managing director of this company breaths.
Areas of operation
The Indian subcontinents being the central arena to work on. Which further have countries like India, Nepal, Bhutan, Sri Lanka, Bangladesh. Besides that, the Gulf countries also get a taste of their business.
Essential products and services
ITC Products
As stated earlier, ITC is no one business company. Hence there’s a wide range of products this company houses. Because of this wide range of variety, it attracts the masses and meets the needs at large. If we go on having a quick look over the list would start from ;
1. FMCG products: The light hectic free products from packaged food, household items, cosmetics, items we need daily, etc. Its fast-moving products include brands related to personal care products such as Fiama, Vivel, and Superia, stationery products such as Classmate, packaged food products such as Aashirvaad, Lychee Flavour, Bingo!, Sunfeast Dream Cream biscuits. Matchsticks and incense sticks such as Mangaldeep are also included under ITC’s products.
2. Apparel: With fashion being a significant component in our lives, it was a good move on the part of ITC to have a competition in this too. John Players, ITC’s apparel brand, serves its customers with quality formals, casuals, denim, and accessories.
3. Cigarettes: Named the tobacco company in its early days, cigarettes and tobacco were ITC’s initial products. Wills, the globally renowned cigarette brand by ITC, also serves its broad audience with designer wear, formal wear, casual wear, evening wear apart from cigarettes. Other popular cigarette brands include Scissors, Classic, Gold Flake, Flake, Insignia, Navy Cut, Briston, etc.
4. Hotels and resorts: It’s one of the best investments, no doubt. ITC also holds its name under the list of premium hotels. Welcomhotel, ITC Hotels, Fortune Hotels, and Welcomheritage Hotels are the premium brands of hotels. These hotels have over 100 hotels spread across 70 destinations.
5. Agribusiness: ITC ranks second in providing agri-products which include feed ingredients such as soya meal, marine products such as prawns and shrimps, food grains such as wheat, barley, maize, processed foods, and coffee.
6. Paperboards & Packaging: ITC’s paperboard products include paperboard, specialty paper, graphic paper, and others. Apart from this, ITC provides printing services for both Indian and international clients.
7. ITC Info Tech: ITC also provides business-friendly technical solutions related to manufacturing, banking, finance, travel, and healthcare.
Fixing a confined group to such a massive range of products and services is somewhat nearly impossible. With its diverse ability to produce constantly keeping the variety in front, it draws every pair of eyes and ears irrespective of the age group. That too from every field possible.
Day by day, ITC is extending its services and targeting audiences from every age group. ITC has to go hand in hand with the people’s choice, which varies with every square kilometre. Thus, to suit every individual’s need, the company is always in a constant state of polishing itself. It makes sure that it takes people of all ages under its production umbrella in a way that makes room for everybody’s needs.
Hence, to build its revenue without any hindrance, the company has a beneficial business model on its table. ITC makes sure that it produces something new to attract the audience. This way, they would be drawn like magnets, end up investing in the latest products in the market.
To get people to know about the new launches, it also never lags in displaying those. Along with that, back in the company’s production house, there’s always constant research about the mass. It helps in designing their upcoming innovation according to the audience’s feedback.
To carry on the smooth functioning of the company, the resources have to be rigid. The infrastructures, physical inputs of the employees, transportation, and storage are valuable resources. These also include a set of experienced workers who know the mass from a closer perspective. And thus, insist on producing what should be the following product. These resources are like the pawns of the company. As a group, they contribute a significant amount to the revenue bar of the company.
The customer gets a symbol of the wise company not to remain put with the profit from a particular segment. Likewise, ITC, by being an all-friendly company thinks about, the needs of every age group. Also, people of every geographical region. Every human should feel the essence of its products. Be it an urban or rural, a small town or big city, ITC makes sure that the products reach every hand that searches for them. Hence, getting inputs from all directions helps the company with better motivation and finance as well.
ITC being such a vast organization has the best value services for its customers. As it is confined to a single sector of producing, the customers are provided with a variety of offers and reasons to visit the company’s doorstep. The central bullet point is that all these services root from a single branch.
To sell its products, ITC never falls short of platforms. It is evident that for such a vast project, several stations would be required to enter the market. Thus, the online distribution network is a convenient way. Apart from that, all sorts of apps designed by or for ITC do the job. It attracts, gives ideas, and makes aware people of the existence, efforts, and production of ITC. All these factors shape the business model of ITC.
What is unique in the business model of ITC
Starting from consumables to household items and paperboards, ITC does its best to satisfy its audience. A hard-to-count bunch of products brings ITC its title of being the most renowned producer. Apart from a small loophole of producing tobacco, the rest of its products are high on demand always.
There’s no doubt that ITC has a robust network when it comes to the delivery of products. Production, storage, and delivery of such large quantities would sit on a vast expanse of land. That, too, ITC has well-taken care of. It is making sure that its products reach the assigned location in the minimum time possible.
In the initial days, ITC diversified its resources and extended its business across many different sectors. It helped it create its brand presence which ITC utilized while entering into the FMCG sector. Moreover, ITC’s diversified business has led to reduced costs of outsourcing. The interrelation between its businesses has helped it grow and establish itself.
How does ITC make money?
Breaking down the streams of revenue, cigarettes contribute to about 77% of its revenue generation. On the other hand, paperboard & packaging contribute about 7.3% to the payment. Looking at other products, their agri-business contributes about 7.0%, hotels contribute about 4.3%, and FMCG products contribute about 4.0% to their total revenue.
Conclusion
Starting from scratch as a tobacco-producing company to being the ITC limited, this company has come a long way. Striding past innumerable competitors, it has gained what many dreams. Nevertheless, ups and downs are a combo pack that comes with every business. But with the amount of build-up ITC has already created, it would be a sweat-drenching process for any company to snatch the market from ITC. We, as consumers, with great delight, pick up the products of ITC without any second glance, which makes it even more invincible.
FAQs
What is main business of ITC?
ITC Limited is an Indian conglomerate with diversified businesses in Fast Moving Consumer Goods comprising Foods, Personal Care, Cigarettes, Apparel, Stationery Products, Incense Sticks, Safety Matches, Hotels, Packaging, and others.
What is the revenue of ITC?
According to the 2020 update, 52,001 crores is what the present revenue of ITC stands for.
Who is the CEO of ITC?
Sanjiv Puri was appointed as the CEO in February 2017 and continues with his post to date.
How much debt does ITC have?
329.35 crores are the debt amount ITC has, as recorded in March of 2021.
Abinaya Arangarajan
