StartupTalky

Tag: 🔍Insights

  • How PepsiCo Uses AI in Production, Advertising, and Customer Research?

    Food companies are adjusting their ways of creating and advertising their products to keep up with the trends. Food industries are influenced by technological improvements either directly or indirectly. Artificial Intelligence (AI) is having an impact on food production and processing, making it easier and faster for businesses to create products.

    PepsiCo is a wonderful example. PepsiCo is a clever AI user who understands the value of machine learning and the application of new technology. It is a well-known food and beverage company that is responsible for a number of well-known brands, including Pepsi, Miranda, Tropicana, Lays, Kurkure, and Mountain Dew. PepsiCo’s global net revenue was over 70.37 billion dollars in 2020. PepsiCo has attempted everything from utilising Snack Delivery Robots to recruiting robots.

    PepsiCo – Artificial Intelligence in Production
    PepsiCo – Consumer Research with AI
    PepsiCo – Pep Worx Data Analyst
    PepsiCo – AI for Advertisement
    PepsiCo – Robot Vera To Interview Candidates
    Conclusion
    FAQs

    Pepsico Uses AI in marketing

    PepsiCo – Artificial Intelligence in Production

    Pepsi, as one of the world’s largest food and beverage companies, is constantly at the cutting edge of technology, investing substantially in artificial intelligence technologies to increase practically every aspect of its operations. Fortunately, it has the sufficient capital and expertise to put in place the tech required to make things go effortlessly.

    Shameer Mirza, senior research and development engineer at PepsiCo, understood that artificial intelligence might be used in a variety of ways to improve manufacturing process management. Mirza then created a machine learning technique that could be combined with a visual system to estimate the mass of treated potatoes. The corporation was able to save a significant amount of money because it no longer had to pay $300,000 per line (they had 35 in the United States alone) for measuring equipment. Mirza’s solutions rely solely on a camera and a computer vision model, and are basically nothing more than extra sample points obtained at no cost.

    Machine learning is helping the manufacturing unit of Frito-Lay, a PepsiCo subsidiary. One prototype uses lasers to impact chips, then listens to the sounds they make to detect texturing. To digitize the performance analysis for Frito-chip Lay’s production plants, software evaluates audio and estimates chip texture.

    PepsiCo has initiated a global training program on innovative machine learning and artificial intelligence for its internal marketing associates, in order to expand their team’s ability to use such innovations to start bringing perspectives that will improve their production plants.

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    PepsiCo – Consumer Research with AI

    AI is rapidly being used by businesses for manufacturing processes and data collection. Consumer research is one of the most important avenues here. In the past, such studies relied on data from survey data, which isn’t necessarily credible.

    Thankfully, artificial intelligence (AI) is assisting academics in carefully sorting through information, identifying trends, and noting relevant insights. We can evaluate consumer insights deeply and quickly using a mixture of qualitative and quantitative analytics, artificial intelligence, and social networks. As a result, patterns and trends emerge, allowing for thorough market research into critical consumer insights.

    Tastewise, an AI tool, is used by PepsiCo to identify and anticipate food trends. Tastewise, which was founded by former Google Chief Marketing Officer Alon Chen, employs artificial intelligence to analyse massive volumes of culinary data available online. Tastewise promises that its platform has analysed more than 95 million menu items, 226 billion recipe interactions, and 22.5 billion social media posts, among so many other things, for companies such as Nestle and General Mills. PepsiCo gains a better sense of what customers are interested in as a result of these insights. PepsiCo adopted seaweed as a flavoring for savoury snacks as a result of the findings given by this algorithm—input that might not have come up in survey data.

    Pepsico uses AI for flavors

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    PepsiCo – Pep Worx Data Analyst

    Pep Worx, PepsiCo’s in-house big data and analytics platform, assists the firm and its partner companies in identifying valuable consumers by area, allowing for better product array and merchandising decisions. Stock choices, product positioning, and advertising techniques can all be aided by the system.

    According to Supermarket News, PepsiCo used Pep Worx to identify 24 million households from a dataset of 110 million US households to plug into unexpressed demand for its Quaker Overnight Oats, single-serve cups of dry oats soaked overnight in milk or yoghurt in the fridge to get a nutritious, cold breakfast cereal by the early hours.

    These victories mark the end of PepsiCo’s long journey to big data, which included decades of analysis and experiments before arriving at Pep Worx. Its first application of big data was to gain a better understanding of its one billion customers and to simplify its supply chain across its 200+ countries of operation. This information was largely in the form of compact documents before being released via Pep Worx.

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    PepsiCo – AI for Advertisement

    Many experts believe that AI is the future of advertising and PepsiCo understands it fully. From ad design to targeting specific to ad buying, AI is revolutionising what is possible in terms of advertising. One of the most difficult tasks for advertisers is to ensure that the correct audience is targeted. AI may scan a variety of data sources to assess the likelihood of a user completing a given action, resulting in more successful and proactive marketing. To reach potential customers and expand the sales process, AI can develop look-alike communities based on previous efforts.

    Machine intelligence in branding aids advertising agencies in making better use of buzzwords to quickly target buyers. The AI marketing approach and solutions enable digital marketers to reach consumers more effectively and increase income.

    PepsiCo – Robot Vera To Interview Candidates

    The organisation conducts phone interviews with job applicants and answers their questions about offered positions using the Robot Vera technique developed by a Russian corporation. The robot interviewer can examine 1,500 job applications in nine hours, compared to nine weeks for human recruiters. PepsiCo has designed Robot Vera to make calls to job seekers using powerful speech recognition technology, diverting its hiring crew to other tasks.

    It uses Vera to assess candidates for occupations like forklift delivery drivers and industry employees, as well as to hire salespeople. The system can examine CVs on job sites continuously and call candidates who meet the criteria, conducting up to 10,000 calls at once.

    Conclusion

    Artificial Intelligence, according to PepsiCo and many other corporations, is the key to surviving in an oversaturated market. PepsiCo employs machine learning for a variety of purposes, including production and the recruiting of new employees. The number of food and beverage companies utilising artificial intelligence for everything from supply chain planning to customer transparency is growing, as is the number of supply chain management applications. And PepsiCo is well aware that Artificial Intelligence is the way of the future.

    FAQs

    What technology does PepsiCo use?

    PepsiCo employs AI and machine learning in a variety of ways across the company.

    Who are PepsiCo competitors?

    Some among the PepsiCo’s top competitors are:

    • Keurig Dr. Pepper
    • Danone
    • Nestle
    • Britvic
    • Red Bull
    • Mondelez International
    • Monster Beverage

    Why is PepsiCo so successful?

    The company’s success stems from its ability to keep on top of new trends and lifestyles, providing customers with the flavours and comforts they demand.

  • How does Bewakoof makes money | Business model of Bewakoof

    During our college days, we always came up with some great business ideas. But, who chases the dreams of engineering life? Well, it might sound surprising but two people made their college dream startup true! It’s Siddharth Munot and Prabhkiran Singh, two IITians. These two knew what they wanted and worked on it with all they had.

    Siddharth Munot and Prabhkiran Singh founded an incredible E-Commerce startup, named Bewakoof in 2012. They both were from the Civil sector in IIT Bombay. They always wanted to pursue a distinct career. They worked on this plan after graduating from college and put all their efforts in one direction. And that’s where Bewakoof was started!

    Bewakoof started with an investment of just Rs. 30,000. But the company came out to be splendid and soon, it gained huge success accordingly. As of 2019-20, Bewakoof made an annual turnover worth Rs. 210 crore.

    Earlier in 2019, the company raised funding of Rs. 70 crore from the global alternative asset manager Investcorp. The company was launched in April 2012. Bewakoof established a strong and enormous connection with its customers which brought great outcomes for the company.

    In this article, we will be discussing the incredibly formed business model of Bewakoof along with its business strategies. Let’s get started!

    About Bewakoof
    Where does Bewakoof operate?
    Key Products and Services of Bewakoof
    Target Audience of Bewakoof
    Business Model of Bewakoof
    How does Bewakoof make money?
    FAQ

    About Bewakoof

    Bewakoof, founded in 2012 by Prabhkiran Singh and Siddharth Munot, is a lifestyle fashion brand that manufacturers very creative and distinct fashion accessories and clothes, following the trends.

    The company is based on the principle of producing an impact on people through honesty, innovation, and compassion. Bewakoof is an immense team of 400 people who collectively sold around 5.1 million products from the website.

    Bewakoof keeps its product range up-to-date, as around 1 lakh products are sold every month. The company eliminates the middleman and manufactures its products itself.

    Bewakoof is the only Indian brand that customized western clothes with India-inspired slags and printed the regional languages such as Marathi, Hindi, Bengali, and others. With digitalization, has grown enormously and brought great deals for the company.

    Where does Bewakoof operate?

    The very prominent fashion E-commerce brand, Bewakoof is headquartered in Mumbai, Maharashtra, India. As being an E-commerce platform, the company delivers its products in every corner of India through logistics services.

    Key Products and Services of Bewakoof

    Bewakoof offers tons of customer-based services through its E-commerce platform. The customers get complete access to all the products available on the Bewakoof.com website.

    The company manufactures various Men’s and Women’s clothing including T-shirts, Accessories, Mobile Covers, and many more, at very affordable prices.

    Target Audience of Bewakoof

    Bewakoof is majorly focused on the person who belongs to the age group of 16-24 years old. The company targets students, professionals, entrepreneurs, and others who are counted in financially stable environments.

    Business Model of Bewakoof

    The business model of Bewakoof is utterly evolved. The company keeps up the tune with all the important aspects of business, from designing to warehousing. Brand marketing exists entirely through digital platforms whereas the end-to-end productions are held in-house.

    Bewakoof promotes its products from two major platforms: Justdial and Facebook. The company also organizes extensive college campaigns which allow students to do Bewakoofy (stupidity) around the campus and they get free t-shirts as rewards from the company.

    Bewakoof keeps up with the trends and follows them through their products. They print famous slags and punchlines on their t-shirts to follow social media trends.

    Bewakoof is widely famous among the youth. As social media brings out enormous customer engagement to their website. In fact, Bewakoof has over a 1.5 million customers base, and the company keeps up with them to gather more ideas and concepts for their products.

    How does Bewakoof make money?

    Bewakoof has an estimated annual turnover of $71.8 million every year. The company ties-up with top E-commerce companies to its products by selling them on the company’s website. It has tied up with Snapdeal, Seventymm, and Indiatimes Shopping.

    The company gets a 27% revenue growth from various operations that are enhanced from Rs. 164.22 crore (FY19) to Rs. 208.33 crore by FY2020.

    Bewakoof generates its revenue from various customer deals and operations. The company’s estimated revenue value per employee is worth $228.000. It collaborates with various brands and gets the profit percentage in hand.

    As of FY19, Bewakoof’s operating revenue varied from Rs. 100 crores to Rs. 500 crores. Alongside, the company’s EBITDA increases with a percent rate of 65.75. Bewakoof has grown immensely over the past few years. And with its business model, there’s a lot on-road as well.

    Conclusion

    ‌‌Bewakoof is a very strategic and promising lifestyle fashion brand that ought to be one of the finest. The company has a huge fan base which brings out absolutely tremendous revenue results. The company works on the principle of honesty and thoughtfulness. It works towards minimizing the environmental imprints and enhancing the social impact. Bewakoof has had a long journey since its launch and with such speed, the company is estimated to grow even wider.

    FAQ

    Who is the CEO of Bewakoof?

    Prabhkiran Singh is the co-founder and CEO of Bewakoof.

    When was Bewakoof founded?

    Bewakoof was founded by Prabhkiran Singh and Siddharth Muno in 2012.

    What is the revenue of Bewakoof?

    The revenue of Bewakoof is INR 208.33 crore as of 2020.

  • Shuttl Business Model | How does Shuttl makes money

    Waking up late in the morning and rushing to your office by holding a sandwich in one hand and bag vase in the other- just to catch the cab or drive yourself. Nevertheless, you will be in a fix and end up with a chastise from your boss!.

    Just imagine, Pulling yourself up at 9 in the morning and being late for work. What will you do at that time?. That’s why Shuttl has been launched for those professional workers to travel conveniently to the office and start a tranquil day.

    The Shuttl is an office commute travel bus aggregator mobile app, which runs in six major cities in India. In 2015, two IITans Amit Singh and Deepanshu Malviya joined together and founded Shuttl, an intra-city bus fleet.

    The company opened their Series C funding, where Amazon, Dentsu, Trifecta, SIG, Lightspeed or Times Internet etc have invested a hefty amount in dilating the company.

    Moreover, Shuttl facilitates real-time supervision by tracking down the progress of the destination, managing intelligent routing and automated data management. To sum up, Shuttl is a stress-free commute to work, where you have to mention the place you work and set the time to pick you up from your home. Later track your ride on the automated data management to eschew any risk.

    Where does Shuttl operate?
    Main products and services of Shuttl
    Target audience of Shuttl
    Business model of Shuttl
    What’s unique about Shuttl’s business model
    How does Shuttl make money
    FAQ

    Where does Shuttl operate?

    Shuttl commenced its first commuter service in Delhi NCR and later expanded in Kolkata, Pune, Mumbai, Hyderabad and Chennai. The company is operating over 350 routes and 2000 buses in six cities. Notable; Shuttl became favourable at the start of its technology centre in Chennai as the city is still dealing with poor road infrastructure which engendered high traffic alert.

    So, Shuttl optimised the challenge and ran successfully in Chennai. Furthermore, Shuttl is planning for another launch of its service in Bangalore.

    However, Shuttl became undermined in recent times due to the ongoing pandemic and paused function in some cities.

    Main products and services of Shuttl

    Shuttl functions as an intra-city bus commuter for professional works, to secure convenient and reliable journeys every day. The company began this transportation service in order to shun air pollution and traffic, as people who are going to their workplace, largely opt for individual cars or drive themselves.

    Shuttl helps you to access the app at your fingertips that benefit you with guaranteed seat optimization, Contactless booking and payments at a reasonable cost.

    Besides, Shuttl works as an urban transportation service by commuting the customers at the time, they have mentioned to pick on the required destination and later drop at their home safe and sound.

    Target audience of Shuttl

    Shuttl developed as a mass transportation service for a tranquil journey for those professional workers, who are running late for work.

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    Business model of Shuttl

    Shuttl is designed as a tech-enabled mobility service that commutes customers from the pick-up point to the place they are working. For instance, You are super late for a meeting which is scheduled at 9 in the morning, but it’s already thirty past eight and there is no hope for any rental cab.

    Subsequently,  Amit Singh and Deepanshu Malviya launched an easy-mobility urban commuter bus service, which rides you from home to the workplace, right on time.

    Additionally, the Shuttl app provides stupendous features to the clients, by tracking down the ride on the dashboard, seat optimisation, contactless payment and booking. The company solicits an affordable price for the service and operates only in eight cities- Kolkata, Pune, Mumbai, Hyderabad and Chennai.

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    What’s unique about Shuttl’s Business Model

    Shuttl’s business model makes the company a huge success. The unique features of the business model followed by the company are:

    GPS tracking

    The Shuttl app has a GPS tracking feature to allow the commuters to know exactly where the bus is and where and when the commuters have to board it to reach their destination.

    Face-recognition Check-in

    The bus is equipped with a Face-recognition screen that identifies the bus operator and shows the driver ID as only authorised drivers are allowed and also identifies commuters to have a check if they are validated and genuine to board the bus.

    CCTV

    Shuttl SAFE buses are furnished with Live CCTV coverage to protect the commuters and check if they are in any form of danger. Both the app and the bus have panic and SOS buttons for emergency rescue if the commuter is in danger.

    Alcohol Detection

    The bus has an alcohol detection setup that is linked with the ignition button to check if the driver is drunk or not and to protect the commuters from incidences of drunk driving. In this setup, the driver isn’t required to breathe into the device.

    Call Back

    The company provides another feature called Homecheck which is a callback option to check if the commuter has reached his/her home or destination safely.  

    How does Shuttl make money

    How does a commuter bus operator earn their income? Yes, the fare paid by the commuters using the bus to commute from one place to another. But how does Shuttl earn maximum revenue from just the fare? Shuttl doesn’t own buses but rather enters into contract agreements with bus operators to use their buses and their crew including drivers and conductors for a fixed monthly payment.

    Then, these buses are used under the company name and the fare for the ride is collected from their customers and are used to pay for extra expenses like fuel, salary, agreed on an amount to the bus operators, etc. Thus the company makes its profit effectively and efficiently.

    Conclusion

    It is proven in the past by many successful companies and their founders how the identification of a problem faced by the general public and creating a solution to it can make a business highly profitable and successful but if that solution is eco-friendly and protects the environment what’s not there to love about it.

    Shuttl not only helps people have an economically viable means of transportation that is relaxed without the tension of travelling in an unhygienic over-crowded bus but in the process reduces people’s need to use their vehicle and thus reducing traffic, pollution and reducing the usage of fuel by the general public.

    Shuttl is a much-needed alternative to commute for office-goers that is beneficial for both the environment and the people.

    FAQ

    What is Shuttl?

    Shuttl is a Gurgaon based company founded in April 2015 that provides office commute service and is India’s largest mobile app that offers this service.

    What is the source of revenue for Shuttl?

    Shuttl earns its revenue by way of fare collected from their commuters. Shuttl earned a revenue of INR 142 Crore in the financial year 2020 and the company was fulfilling 60000 rides by employing 1200 buses.

    Who is the founder of Shuttl?

    Shuttl was founded in April 2015 by IIT alumni Amit Singh and Deepanshu Malviya.

  • What is Vehicle Scrappage Policy | How Startups will Benefit from Vehicle scrappage policy

    We all have had our own share of episodes of looking at rusty, old, vehicles covered in black, dense smoke bumbling past us, and we remarking, “how did it get past the usual security checks and roam about freely?”

    Well, this is how things used to be on the Indian roads where we could name a brand new Mercedes or a BMW and a polluting, dilapidated truck or van in the same breath.

    Out of the total air pollution that the Indians suffer from, a massive 27% of it is caused by vehicular emissions. Though a number of companies including Ola, Reliance, Tata, and others have started stressing about eco-friendly ways and have embraced Green Marketing to change the way how the industries and the vehicles run, we are yet to triumph over our greatest enemy, pollution.

    However, with the new vehicle scrappage policy that PM Narendra Modi announced on Friday, August 13, 2021, the Indian government aims to get rid of all the unfit and polluting vehicles as a stern measure to suppress vehicular air pollution.

    What is the Vehicle Scrappage Policy?
    Automobile Scrappage Policy Guidelines
    When will the scrappage policy start to come into effect?
    Main Objectives of the Vehicle Scrappage Policy
    What will the new Vehicle Scrappage Policy bring in?
    How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?
    How will the National Automobile Scrappage Policy Benefit the Common Man?
    FAQ

    What is the Vehicle Scrappage Policy?

    Scrapping means “to throw away or get rid off” and the new scrappage policy is formed around the same idea.

    The vehicle scrappage policy, as announced by the Prime Minister of India at the Investor Summit in Gujarat, revolves around the idea of phasing out all the vehicles from the Indian roads, which are polluting and deemed as unfit.

    Here’s what Narendra Modi has remarked via his Twitter handle:


    Automobile Scrappage Policy Guidelines

    The scrappage policy for the automobiles of the country lists some guidelines following which the vehicles will be scrapped.

    On this, Union Minister Nitin Gadkari mentioned that according to the newly launched vehicle scrappage policy, the commercial and personal vehicles will be scrutinized, which are over 15 years and 20 years old, and will be scrapped if they fail to pass a government-imposed test. “They will be seized and destroyed,” added Gadkari.

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    When will the scrappage policy start to come into effect?

    The automobile scrappage policy will be coming into effect from April 2022, starting with the vehicles owned by the Indian government and its allied entities like the PSUs.

    Next, the government will consider mandatory testing for heavy commercial vehicles, which will start in April 2023. Finally, the testing will also include vehicles belonging to all other categories, which will come into effect from June 2024.

    Main Objectives of the Vehicle Scrappage Policy

    Among the main objectives of the vehicle scrappage policy, the reduction of air pollution is the primary goal that the government is looking forward to attaining.

    Reducing the Pollution caused by the Vehicles

    The main objective of the vehicle scrappage policy is to oust the polluting vehicles and lessen the overall vehicular pollution to the minimum. This will be a great help towards promoting a circular economy for the country.

    Creating Employment for the Indians

    The scrappage policy of vehicles would be a major project to undertake for the government of India in the upcoming years, the new scrappage policy would attract investments worth Rs 10000 crore.

    This will not only be a project for the government workers but will be a massive employment opportunity for the youngsters, poorly employed, and the unemployed section of the country.

    Encouraging Circular Economy in India

    A circular economy can be defined as a systemic approach to economic development, which will further benefit businesses, society, and the environment at large.

    The circular economy, as hinted by Modi, is regenerative and sharply contrasts the “take-make-waste” linear model, which further strives to rely less on the consumption of non-renewable resources.

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    What will the new Vehicle Scrappage Policy bring in?

    The vehicle scrappage policy strives to phase out the above-mentioned vehicles in an environment-friendly manner. Therefore, the whole initiative ensues the establishment of scrapping infrastructures like Automated Testing Stations and the setting up of Registered Vehicle Scrapping Facilities.

    How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?

    According to Narendra Modi’s nationwide video conference, which also had Nitin Gadkari, Minister for Road Transport and Highways, the Prime Minister has also announced that the Indian government is also willing to collaborate with the budding companies or the startups, which is expected to be a significant boost to the pandemic-struck startup ecosystem.

    How will the National Automobile Scrappage Policy Benefit the Common Man?

    Along with benefitting the startups and the unemployed, the scrappage policy will also greatly benefit the common man. Here’s how it is a win-win situation for them:

    • For all the scrapped vehicles the vehicle owners will receive a certificate to testify their scrapped car. Furthermore, the government will ensure that they will not have to pay registration fees when they buy a new car.
    • They will also receive tax benefits, which would include a discount on road tax. This way it would act as an incentive for scrapping an old vehicle.
    • The old vehicles would be seized for the person, which might seem to be a loss but actually would be profitable for the particular person. If one possesses an old vehicle, he would have to spend money on the maintenance costs, repair cost, and fuel efficiency of the old car, which he/she would be spared from.
    • The owners of the old vehicles would be eligible for the best price for car scrappage for all the workable parts like the tires.
    • Lastly, they will be eligible to buy new and advanced vehicles, which will be safer for their upcoming journey.

    FAQ

    What will happen to the vintage vehicles?

    According to the scrappage policy of the Indian government, it will scrape all the old cars except the vintage automobiles. Gadkari mentioned that no such guidelines have been formed for vintage vehicles as of now, adding they will also regulate the vintage vehicles with the upcoming list of guidelines.

    What will the incentives that the scrappage policy will entail?

    The vehicle scrappage policy will offer incentives for the owners of the scrapped vehicles. Once their vehicles are scrapped, they will be issued relevant certificates for the same. The old vehicle owners can show these certificates whenever they decide to purchase a new vehicle and can get up to a 25% rebate on road tax.

    Will there be a GST Rebate for the scrapped vehicle owners?

    According to the policy, it has been decided by the government that whenever a scrapped vehicle owner will go for a new purchase, he/she will be allowed a 5% discount on the basis of the certificate issued for their scrapped vehicle. Gadkari has further mentioned that he has also requested the Finance Minister to grant a GST rebate for them, which is pending approval.

  • How Lifelong built its Value Chain via tech-enabled D2C Model

    This article is part of the Behind the Scene series by StartupTalky where we bring you insights into how a company operates at ground level. Source ~ from the horse’s mouth that is as told by the founders, core management.

    Lifelong Online is a digital-first consumer durable brand. Started in 2015, it has an exclusive range of products across a wide spectrum of categories like Home, Kitchen, Grooming, and Lifestyle. Lifelong, one of the fastest-growing Indian consumer durables startups has been able to disrupt the category, largely occupied by big brands, a traditional distribution model, and barely any innovation.

    It was the inertia of the eco-system that Bharat Kalia, Co-Founder of Lifelong, saw as a massive opportunity – with increasing internet penetration, pan-India distribution led largely by e-commerce giants, a younger, discerning customer that participated much more in purchase decisions via content, product ratings, and reviews, Bharat knew the customer was ready for a new age durables brand.

    It serves over 500 cities in India through both online (Amazon, Flipkart, Tata Cliq, Nykaa, PayTM, Snapdeal, 1Mg) and offline presence. In 2019, Lifelong raised funds (40 crores INR) from Tanglin Venture partners, which was the series A round of funding for the company.  

    At present home and kitchen appliances contribute approximately 33% to the overall sales, 33% by lifestyle and health category followed by 33% contribution from grooming and sports together.

    StartupTalky interviewed Bharat Kalia (Co-founder & CEO, Lifelong India) to know How Exactly Lifelong leverages Data & technology to become the digital-first consumer durable brand. Get insights on the Behind the scene operations of Lifelong, Its marketing strategy, pricing strategy, business model, plans & more.

    Lifelong India – Company Highlights

    Company Name Lifelong India Online
    Founders Bharat Kalia (CEO), Varun Grover (COO)
    Headquarters Gurugram, Haryana
    Industry Consumer Durables
    Website lifelongindiaonline.com

    And here’s what Mr. Bharat Kalia has got to say –

    1. How does Lifelong India operate via both online and offline channels across 500 cities? From partnering & onboarding to final customer service, what does the value chain process look like?
    2. What strategies does Lifelong India adopt while catering to Tier 2 & Tier 3 cities? According to you, what are Tier 2 & Tier 3 cities? Are there any challenges you face while catering to these cities?
    3. As a Made in India brand started in 2015, what did Lifelong India’s business model look like in the initial days? Would love to know the gradual growth of the company since then.
    4. How did it feel like to get the first institutional funding in 2019 from Tanglin Venture Partners? What are your plans post getting the funds? A hint on the strategies used by the company to attract investors is much appreciated.
    5. We were wondering how you provide functionally crafted products priced at least 30% lower than traditional brands? What are the strategies you employ?
    6. In the era of dynamic technology, what role does data/AI/ML/Insights play in the company? How do you keep up with the rapid technology advancements around the globe and pace the race with your competitors?
    7. How do you plan to strengthen mean distribution channels in India with a major focus on product design & innovation? How are you planning to manage the first multi-line facility that is set to go live in the next 3 months? What effect will it have on the company & economy?
    8. What does the future look like for a Tech-enabled D2C Model? Are you planning for any strategic/business expansion plans?
    9. As a passionate entrepreneur yourself, how can one connect to you for fruitful advice and guidance?

    1. How does Lifelong India operate via both online and offline channels across 500 cities? From partnering & onboarding to final customer service, what does the value chain process look like?

    Lifelong India Home-Page
    Lifelong India Home-Page

    Established in 2018, Lifelong has been built through data-driven insights with a strong focus on its online presence. To extend our offline outreach, we have partnered with several modern trade retail stores and institutional buyers.  

    Our value chain is based on a meticulously developed data bank, which was gathered through our mass markets in Tier 2, Tier 3 cities, and beyond. We focus on the current search and conversion trends to identify buyer needs, the available products in the market, and the gap between the two.

    Once we pinpointed the lacunae, we move towards our R&D, working towards improvements, adjustments, fixes, or modifications to improve value. The resultant product is subjected to a beta test where it goes through market analysis to further verify its value and functionality.

    If everything goes well and there is positive feedback, the product is launched. We follow the market protocols in generating awareness, targeting consumers, and establishing the product in the market. Today, we have over 15-20% repeat buyers, and we pride ourselves on providing effective nationwide customer service within 24-72 hours.

    2. What strategies does Lifelong India adopt while catering to Tier 2 & Tier 3 cities? According to you, what are Tier 2 & Tier 3 cities? Are there any challenges you face while catering to these cities?

    Lifelong Logo
    Lifelong Logo

    When addressing Tier 2 or Tier 3 cities, it is crucial to understand that the demand in these markets can vary significantly from what we see in bigger cities. The consumers here are price sensitive and may lack access to mega brands. From a marketing perspective, they refer to certain specific media for information, which may be different from the Tier 1 audience.

    Even when it comes to the product, they look for a separate set of features. For any brand to succeed, it must grasp these differences when devising strategies. For instance, we are working on a washing machine that is unaffected by any fluctuations in the water pressure. This is a critical feature in cities prone to power plant malfunctions or pressure inconsistencies.

    Consumers often belong to close-knit communities and are often well-acquainted with their sellers. In such a scenario, it is a challenge to establish a personal connection for a brand that doesn’t have a physical presence in the market. At Lifelong, we have focused on building these bonds through efficient service and creating value for our customers.

    Offering a swift turnaround time of 48 hours or less, we have ensured efficient and timely delivery. As a result, we have been able to garner customer loyalty as more and more customers show strong association and appreciation with the brand.

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    3. As a Made in India brand started in 2015, what did Lifelong India’s business model look like in the initial days? Would love to know the gradual growth of the company since then.

    We are a direct customer brand that operates in two large sub-segments – 1. Health and fitness 2. Home and kitchen.

    From our beginning with a mixer-grinder in the kitchen appliances segment, today we have established a strong foothold in the categories of Home, Health, and Fitness appliances. We embarked on this journey with the sole purpose of creating a better product for the mass market based on the available insights.

    In this endeavor, we learned that India loves the idea of a great product sold at an honest price. Since then, we have been using data to drive product development across sub-categories. Unlike mammoth brands representing vertical categories, we are independent of distributors and retail counters.

    Our direct dealings with the consumer have worked wonderfully in establishing us as an organization that feels homely and is indigenous.

    4. How did it feel like to get the first institutional funding in 2019 from Tanglin Venture Partners? What are your plans post getting the funds? A hint on the strategies used by the company to attract investors is much appreciated.

    For me, funding provides capital that is essential if you want your company to continue on its growth trajectory. It can be expensive, as it means one has to sell a part of their enterprise. However, the right funding at an apt hour is critical in positioning the brand to scale great heights.

    For us, Tanglin Venture Partners were extremely supportive investors, and they believed in the depth of our operations as well as ideologies. With this success, we are gearing up for our next round of funding. We aim to maintain our profitability while directing additional funds towards product development and expanding our service networks.

    Tanglin Venture Partners Logo
    Tanglin Venture Partners Logo

    We don’t have a specific strategy to attract investments. The investors of today are savvy and highly discerning. Only ventures that have the potential to succeed can hope to garner interest and funding. Hence, as long as one has a fundamentally strong business that creates value, attracting suitable investments will never be worrisome.

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    5. We were wondering how you provide functionally crafted products priced at least 30% lower than traditional brands? What are the strategies you employ?

    As a company, data is part of our DNA. Any development from our end begins with an extensive analysis of factors like clickstreams, consumer preferences, product availability in the market, and desirable and undesirable features. Once we identify what the consumer wants, we focus on giving them products that not only meet their expectations but also surpass them.

    By directly dealing with consumers, we have been successful in gaining at least a 30% price edge over conventional brands. Instead of relying on retailers to sell our products, we engage directly with the buyers.

    In the process, we save on overheads such as sales staff’s salary, distribution margins, and other related expenses. These cost benefits are enjoyed by our customers who receive quality products at pocket-friendly rates.

    6. In the era of dynamic technology, what role does data/AI/ML/Insights play in the company? How do you keep up with the rapid technology advancements around the globe and pace the race with your competitors?

    Technological advancements are the core of all our business activities. We use Big Data, analytics, and Artificial Intelligence (AI) to drive product development. Further, Machine Learning and AI are also used to improve our customer service.

    These disruptive solutions resolve up to 30% of the queries based on what we have collected over time. They even help us conduct multi-lingual buyer surveys, simultaneously helping us gather authentic information.

    Technology is dynamic, and keeping pace with it is the only way to succeed. We regularly track all the domestic and international trends. However, when it comes to successfully handling all these frequent changes, the credit goes to our dedicated team. Handling challenges becomes easy once you have the right people for the right job.

    7. How do you plan to strengthen mean distribution channels in India with a major focus on product design & innovation? How are you planning to manage the first multi-line facility that is set to go live in the next 3 months? What effect will it have on the company & economy?

    We have no intention to create multi-distribution channels in India. We wish to continue operating in a direct-to-consumer format. Online merchants such as Flipkart, Amazon, Tata Cliq, Bulbul, and Meesho platforms that allow us the opportunity to directly sell to our customers are our preferred options.

    When it comes to a multi-line facility, we are in the process of testing different strategies by distributing our manufacturing across the subcontinent. This will even help us combat the difficulties posed by the state-wise lockdown and serve our consumers better. We aim to establish robust data supply channels for the next couple of years so that we can overcome any uncertainties that the future holds.

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    8. What does the future look like for a Tech-enabled D2C Model? Are you planning for any strategic/business expansion plans?

    The silver lining for tech-enabled D2C models was the growing acceptance of online platforms, enabling organizations like ours to create a deeper penetration in the market. As a consumer-oriented brand, we aim to continue growing at a rapid pace. We are set to launch multiple yoga activities by year-end or the by early next year

    9. As a passionate entrepreneur yourself, how can one connect to you for fruitful advice and guidance?

    I am a very approachable person. If anyone, be it a customer or otherwise, is looking for advice, guidance, or support, my email is the best way to connect with me. My contact details are present on our website, and I am eager to help in whatever capacity I can.

  • Marketing Strategy of Indian Oil Corporation Limited (IOCL)

    Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies. The company was founded in 1959 and is currently the largest commercial oil and petroleum enterprise in India. IOCL ranks 151st position in Fortune Global 500 list and 2nd in Fortune India 500 list for the year 2020.

    IOCL has so far been successful in meeting the fuel demands put up by the world’s second most populated country. Let’s see what they’re doing differently from their competitors to improve their brand image. In this article, we will try to shift the focus towards the marketing strategy of Indian Oil Corporation Limited.

    IOCL – Company Highlights

    Company Name Indian Oil Corporation Limited
    Headquarters New Delhi (headquarters), Mumbai (registered office)
    Industry Energy: Oil and gas
    Chairman Shrikant Madhav Vaidya
    Founded 1959
    Website iocl.com

    Overview of Indian Oil Corporation Limited (IOCL)
    IOCL Marketing Mix
    IOCL – Product Strategy
    IOCL – Pricing Strategy
    IOCL – Place & Distribution Strategy
    IOCL – Promotion Strategy
    IOCL – Conclusion
    IOCL – FAQs

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    Overview of Indian Oil Corporation Limited (IOCL)

    Indian Oil Corporation Limited was founded in 1959 and since then handled the responsibility of meeting the fuel demands of India. The company is under the control of the Government of India & the Ministry of Petroleum and Natural Gas. As of 2020, the oil and gas company earned a net profit of ₹43,242 crores (US$6.1 billion) in sales turnover among India’s most profitable state-owned companies.

    The company is an expert in the production of crude oil, natural gas, petrochemicals, refining, pipeline transportation and marketing of these products. The IOCL holds nearly 35% of national refining capacity together with its subsidiary Chennai Petroleum Corporation Limited (CPCL) and 65% downstream sector pipelines through capacity.

    All About Indian Oil Corporation Limited

    The Indian Oil Corporation is known to have over 33,500 employees along with its subsidiaries in countries like Sri Lanka, Mauritius, the UAE, Singapore, Sweden, the USA and the Netherlands. The company is currently setting up over 20 joint ventures with reputed business partners from India and abroad to explore global opportunities. Some of the International Indian oil corporation subsidiaries are Lanka IOC in Sri Lanka, IndianOil Mauritius, and the IOC Middle East FZE.

    In January 2021, IOCL overall sales were at an all-time high of 4,10,000 barrels of oil. Some of the main competitors of Indian Oil Corporation Limited are:

    • Hindustan Petroleum
    • Bharat Petroleum
    • Essar Oil & Shell
    • Reliance Industries
    • Mangalore Refinery and Petrochemicals Limited

    So how does a company like Indian Oil Corporation Limited markets its product effectively and efficiently that it beats all its competitors to scale up in the oil and gas sector? Let’s see their unique marketing strategies.

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    IOCL Marketing Mix

    The marketing mix usually refers to the set of actions, or tactics, that a company uses to promote its brand or product in a particular market. The marketing mix is the best business strategy of Indian Oil Corporation as it is centered around the product, price, place, promotion and nowadays also includes Packaging, Positioning, People and even Politics.

    The IOCL’s business model is based on the Indian Oil Corporation (IOCL) marketing mix that helps the brand to succeed. The marketing mix of Indian Oil Corporation also analyses and explains the marketing strategy for petroleum products. There are different types of marketing strategies such as product innovation, pricing approach, promotion planning, etc.

    The company’s marketing mix explains the importance of the product, pricing, advertising and distribution strategies used by the Indian Oil Corporation (IOCL). Indian Oil Corporation’s marketing strategy has so far successfully helped the company to position itself competitively in the market, and achieve its business goals and objectives effectively and efficiently. Let us start the Indian Oil Corporation’s (IOCL) Marketing Strategy & Mix to understand its product, pricing, advertising and distribution strategies.

    IOCL Product Strategy

    Indian Oil Corporation is one of the leading oil and gas companies not only in India but worldwide. Indian Oil Corporation is present across the hydrocarbon value chain and accounts for over half of the country’s petroleum products market. IOCL also has over 35% share in refining and 65% share in the downstream sector pipelines. Out of the total 23 Indian refineries, the company owns and operates 11 of them.

    Indian Oil Corporation’s product portfolio in its marketing mix includes Indane gas, Autogas, Natural gas, petrol, diesel, jet fuel, lubricants & greases, kerosene, industrial fuels, Bitumen, petrochemicals, crude oil and some other special products. While its other businesses include refineries, pipeline transportation, distribution & marketing and Research & Development.

    The company is also known for the popular brands under it, which are Indane LPG, SERVO Lubricants, Autogas LPG, XtraPremium Petrol, XtraMile Diesel and PROPEL petrochemicals. These brands have the added advantage of established customer awareness. The marketing strategy for petroleum products has made it possible for the company to become a leader in various sectors.

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    IOCL Pricing Strategy

    The IOCL pricing strategy runs on the idea of profit-making. In 2020, the profit of IOCL was estimated to be $6.1 billion. Since the Indian Oil Corporation is a government-owned company, some of the pricing decisions are made by the Central Government of India after considering the taxes and subsidies. The IOCL prices are different in different states and cities as geographical pricing mechanism is followed in its marketing mix.

    The prices are commonly divided on the basis of metro cities, state capitals and National Capital Region (NCR). The prices in each product category (2021) are:

    • Petrol prices vary between Rs.101.84 to Rs.130.23 per liter depending on location.
    • Diesel prices have crossed Rs.90 per liter in most major cities.
    • Autogas price ranges from Rs.55 to Rs.57.
    • ATF price ranges from Rs.59400 to Rs.74000 per KL for domestic airlines and $602-800 per KL for international airlines.
    • Indane Gas’s price range is between Rs.834-944 per 14.2 Kg Cylinder.

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    IOCL Place & Distribution Strategy

    Indian Oil Corporation Stock history
    Indian Oil Corporation Stock history 

    The IOCL’s marketing mix is based on its wide geographic presence, as it holds and controls 10 refineries (Paradip, Panipat, Mathura, Haldia, Gujarat, Barauni, Bongaigaon, Guwahati, etc) across the country. Besides that, the company also controls over 10,900 km of pipeline connecting to high-demand places, 132 Km of gas pipeline and 37,000+ customer touchpoints. The company also has its subsidiaries in countries like Sri Lanka, Mauritius and UAE.

    It also has 20 joint ventures with reputed firms in India and abroad; 25,000 diesel and petrol stations and also one outlet in the world highest point. IOCL also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and 100 aviation fuel stations. Another interesting fact about IOCL is that it has more than 9,400 fully automated fuel stations situated in nearly 55 cities providing products and services to its customers.

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    IOCL Promotion Strategy

    Promotion is the most important part of Indian oil corporation limited as it led the company to become one of the most valued and trusted brands in India. IOCL realizes the impact of a good promotional plan, offers and periodic incentives to maintain its customer base. The promotion in IOCL includes advertising tools like hoardings, print advertisements and commercials on television in order to increase its brand visibility.

    Indian Oil Corporation limited marketing also includes loyalty programs like fleet cards where customers can earn points and during festive seasons some gifts would be given to consumers through a lucky draw.

    Since we have covered the 4Ps of the marketing mix, here are the other 3Ps to make it the 7Ps of the marketing mix of Indian Oil Corporation.

    People

    People play a vital role in the marketing mix of Indian oil marketing, as the company has around 33,000 employees that work in various business processes. The company recruits mainly through advertisements in newspapers and the company’s website. IOCL also spends a lot in training and development of its employees to develop their capabilities. The employees also hold equity of nearly 65 lakh shares in the company.

    Indian Oil Workplace Experiences

    Process

    The company deals in many business, distribution and people processes to serve customers and corporate clients. To remain profitable in a business, the processes used to run should be working at an optimal rate. IOCL has taken every measure to improve operational efficiency, as it maximizes the LPG extracts for a refinery that uses the INDMAX technology.

    Physical Evidence

    Indian Oil Corporation has its physical presence because of petrol pumps and gas stations not only in India but worldwide. The Indian oil logo is a saffron circle with the blue color outer ring and a blue color band in the middle of the circle with ‘Indian Oil’ written in the Devanagari script. It also has an iconic tagline known as ‘The Energy of India’ which is a rightful representation of the Company.

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    IOCL – Conclusion

    With over 10 refineries and pipelines network span of over 9,300 km, IOCL is the leader in the Indian market. IOCL is the 20th largest petroleum company in the world and also has a foothold in the international markets. With an excellent marketing mix, the company’s future looks bright.

    IOCL – FAQs

    What is Indian Oil Corporation Limited?

    Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies that cater to the fuel need of people across the world.

    Where is the headquarters of Indian Oil Corporation Limited?

    The headquarters of Indian Oil Corporation Ltd is New Delhi whereas its registered office is located in Mumbai, Maharashtra.

    What is the distribution channel of the Indian Oil Corporation?

    There are 20,575 retail outlets. IOCL has an outlet in the world’s highest point. The company also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and nearly 100 aviation fuel stations.

    Who is the owner of the Indian Oil Corporation?

    Indian Oil Corporation is a government-owned company having its ownership under the Ministry of Petroleum and Natural Gas.

    Where is Indian Oil Corporation’s biggest refinery located?

    The Indian Oil Corporation’s biggest refinery is located in Jamnagar, Gujarat.

    What is the salary of Indian Oil Corporation employees?

    The gross salary of IOCL employees is between Rs.60,000 to Rs.1,80,000 depending on the post of the employee.

  • Brainly- Business Model and Story

    With so many educational startups like BYJU’S, Toppr, Vedantu, Unacademy, UpGrad, etc. emerging around the corner, raising millions from the students of India, few international platforms like Brainly are also paving their way to take their bite from one of the biggest youth-oriented countries.

    Let’s see how this 11-year old edtech company set to surmount the world’s e-learning market.

    Brainly – About
    Brainly – Foundation
    Brainly – Story of Startup Launch
    Brainly – History
    Brainly – Business Model
    Brainly – Challenges Faced
    Conclusion
    FAQs

    Brainly – About

    Brainly is an education technology company based in Krakow, Poland. Brainly provides a knowledge-sharing community where millions of students, teachers as well as parents share knowledge and solve each other’s problems. It has become the world’s largest social learning network, having reported 250 million monthly users per month across the 35 countries it serves, among which 15 million users are from India itself.

    Brainly, as it describes itself, is a place for students, by students. The motto of Brainly is Smarter Together. Mainly built for high school and middle school students, all types of solutions and help can be found in this application, be it about Mathematics, History, Calculus, English, Biology, Chemistry, Physics, Social Studies, Health, Business, Arts, World Languages, Law, Computers and Technology, Engineering, Medical Sciences, French, German, etc. and many more.

    Moreover, Brainly makes its usage more interesting by granting points to its users when they answer questions posted by others. And it awards ranks to users based on their frequency and accuracy of solving problems. The website also provides teacher ranks to professional teachers. So peers can have a healthy competitive environment among themselves while also enjoying the website and learning together.

    Brainly Introduction

    Brainly – Foundation

    Brainly was founded in 2009 by three friends Michal Borkowski, Lukasz Haluch, and Tomasz Kraus. Since then, it has set up its headquarters in New York City, United States, and Krakow, Poland; and expanded its venture over 35 countries, raising 38.5 million dollars from its seven investors, including Naspers which also funded BYJU’s.

    Brainly – Story of Startup Launch

    Michal Borkowski | Co-founder and CEO of Brainly
    Michal Borkowski | Co-founder and CEO of Brainly

    The inspiration to start this multi-million dollar company came from Michal Borkowski, co-founder and CEO of Brainly. Before Brainly, Michal worked for Q&A networks and got to understand from it that subject-specific Q&As perform better than general Q&As. This later became the original inspiration behind Brainly.

    Brainly was launched at the time when edtech companies were not much encouraged and it was difficult to find investors. So the three founders funded their company themselves and took the risk, and within a year, their decision got paid off as millions of students were starting to use Brainly to know more, and to know faster, in a click. And today Brainly claims to have built the world’s largest social learning network.

    The Brains behind Brainly.Michal Borkowski, Lukasz Haluch and Tomasz Kraus.

    Brainly – History

    The company was initially named Zadane.pl. In 2011, just 2 years after the company’s birth, it created Znanija.com, the first international project dedicated to Russian language speakers. After that, the growth of this company had no turning back and raised several funds from large capital firms. The total funds raised by the company since its establishment is reported to be $68.5 million.

    In 2017, Zadane.pl changed to Brainly. In January 2018, Brainly announced the ownership of the video education startup, Bask, to bring video technology to the Brainly platform.

    Brainly – Business Model

    After conquering the world, Brainly is now all set to expand in India by focusing on vernacular content. It has already created a 15 million userbase in India within 2 years, the same as India’s first and only edtech unicorn BYJU’s. Brainly conducted a survey for Indian students and found that its users comprise of 42% secondary and 39% higher secondary grade students.

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    However, Brainly has not yet monetized its services in India. According to Michal Borkowski, the CEO and co-founder, Brainly is giving priority to the growth of its reach to every potential user over profits. It has planned an efficient business model for rooting in India.

    India offers a huge market to Bainly. People here are more willing to spend their salaries on their kid’s education than any other sectors. The building competition among students and the pressure to succeed put up by parents acts as a boon to Brainly’s market opportunities.

    Moreover, students are dissatisfied with their schools, complaining that the schools are unable to prepare them for their careers. So here comes the need of an easy-to-go help source.

    Unlike most other edtech companies established in India that provide competitive exam preparations and tedious learning programs, Brainly focuses on specific, curriculum-related problems and skill strengthening through connecting students together.

    India’s Education Market

    Brainly – Challenges Faced

    Brainly’s current strategy is to build the student community and work on the content to ensure the best quality possible. But India also poses some challenges.

    Lack of internet availability, which is a great problem in rural areas and semi-urban areas of the country, can cost a lot of users to Brainly. For this, the Brainly team is working to have a low and flexible data requirement for their app.

    Lack of a unified syllabus in India also puts the company in trouble. So it does not follow a specific curriculum so that it can have a wider userbase of all school subjects.

    Seeking the vernacular language is also a tough and elaborate job. India, having 22 official languages and thousands of regional ones, Brainly has to launch in languages other than English and Hindi in order to attract all types of students.

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    Conclusion

    Brainly’s multifaceted community of experts encloses students who help answer other students’ questions, be it a complex calculus question, or a conceptual question about a reading based assignment, or any inquiry regarding studying strategy for any career-related goals. So it assures verified and reliable solutions and to its users and builds a sense of trust for itself.

    As Brainly puts its concept in a line, “No one knows everything, but everyone knows something. With Brainly, students combine their strengths and talents to tackle problems together.”

    With such great perspective and an efficient and dedicated team constantly working to refine its business model and open to new ideas; the day does not seem to be far away when Brainly will become every Indian student’s goto app.

    FAQs

    Is Brainly a free app?

    You can always access most of the content and features available on Brainly for free. But if you wish to access all of the answers on Brainly, including Verified Answers with 100% uninterrupted access, you can purchase a Brainly Plus subscription!

    When was Brainly founded?

    Brainly was founded in September 2009 in Poland by founders – Michal Borkowski, Lukasz Haluch and Tomasz Kraus.

    Do you get paid on Brainly?

    Brainly doesn’t give you money. It works like Quora, where you answer questions to get points, and then use those points to ask questions and clear your doubts.

    Is Brainly Indian?

    No. Brainly is a Polish EdTech, headquartered at New York. It is available to use in India though.

  • Remembering the Marketing Mistake of McDonald’s During 1984 Olympics

    The 2021 Tokyo Olympics is on the go right now enthralling the viewers with the mind-boggling talents of the participants. Unlike the earlier times, host cities have started to make profits during the event. The onset of this trend can be traced back to the 1984 Olympics held in Los Angeles. Until then the host cities had to incur large losses.

    With the help of various corporate’s, they introduced new changes wherein they sold television rights and advertised the products of various corporate’s throughout the games. Hence, the 1984 Olympics was a huge financial success where they shared their costs between the sponsors which not only mitigated loss but also generated profits of more than $200 million. However one cannot forget the marketing strategy of McDonald’s which backfired in an unprecedented manner.

    The time when Olympics was hosted by Los Angeles was when there was severe hostility between the US and the Soviet Union regarding Afghanistan. The US had boycotted the 1980 Olympics that was held in Moscow due to Soviet Union’s incessant warfare in Afghanistan.

    In the Olympics, before that, the US had won the third position while the first and second position was backed by the Soviet Union and East Germany respectively.

    The problem with McDonald’s marketing Campaign
    The outcome of the McDonald’s Campaign
    FAQ

    The problem with McDonald’s marketing Campaign

    Since the US boycotted the 1980 Olympics and things weren’t still great between the USA and the Soviet Union, the latter decided to boycott the 1984 Olympics. So did East Germany.

    McDonald’s marketers did not factor in this new change before they announced their campaign where they gave Free Meal for every medal that the US wins. Every time one purchase something from McDonald’s, they will get a scratch card on which the name of an Olympic event will be written.

    If the US representative wins a medal in that event the customer is entitled to a free meal. If the US wins gold, they will get a free big Mac, if silver then French fries and a bronze mean they get a soft drink.

    The campaign was popularised with the tagline “When US Wins, You Win”. The campaign not only became a hit but also invited large investments into the event. However, their practical materialisation of the campaign was not so favourable as far as McDonald’s were concerned.

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    The outcome of the McDonald’s Marketing Campaign

    Many outlets (more than 6000) across the US went out of big Macs. People crowded the stores to avail themselves of their coupons only to get more coupons every time they buy something.

    As far as the US medal tally is concerned there was a whopping increase in the number of medals from 94 to 174. In 1976 US had won 34 gold medals and in 1984, it reached 83 in 1984.

    McDonald’s have not yet issued a report regarding the extent of loss it had incurred with its floor plan. However various reports suggest that the amount has run into millions.

    Interestingly, there have been instances where citizens later revealed that they survived on McDonald’s meals during those times when they were left destitute due to poverty.

    It was a blessing for people like this where every purchase led to another scratch card wherein a medal for the US was almost assured. Sometimes customers used to get scratch cards of events that were already over and won by the country which led to the immediate availing of the respective coupon.

    Although such an initiative has been a big blessing for many poor families, it was a huge miss-step from the side of McDonald’s.

    Conclusion

    As Olympic fever is getting high across the world, many eyes are on this fast-food chain that is known for its sports sponsorships and advertisements. While the campaigns of McDonald’s have been successful in reeling in profits for the hosts during the 1984 Olympics, the loss that it had to incur was distressing.

    It is a clear example of a monetary loss that resulted due to insufficient analysis of the market conditions and social realities.

    FAQ

    Which country boycotted the 1984 Olympics?

    The Soviet Union and East Germany boycotted the 1984 Olympics.

    How many medals did the United States win in the 1984 Olympics?

    United States won 83 Gold, 61 Silver and 30 Bronze medals.

  • 8 Reasons Why You Need a Business Coach

    Businesses are guided by business coaches, who help owners clarify their vision and determine how it aligns with personal goals. As a result of business coaching, the business owner can take their business from where it is now to where they want it to be in the future.

    Coaching and mentoring are often confused because both roles rely on the years of experience of their respective practitioners. Most importantly, a mentor focuses on advice, while a coach assists the business owner in setting goals and holding them accountable so that they achieve their objectives.

    After introducing business coaching, 96 percent of organizations reported individual performance improvements, according to a study by management consultants Korn Ferry International More than 92 percent of respondents said their leadership and management abilities had improved.

    Owner Accountability is created by Business coaches
    Business Coaches help you identify your blind spots
    Plans that can be put into action are created by Business coaches
    Business coaches guide you to the Right path
    Business Coaches help you obtain venture capital funding for your business
    Business Cocahes help you scale your business
    Business Coaches help you fill in the knowledge gaps
    Business Coaches assist you in overcoming obstacles and achieving your goals
    FAQ

    Owner Accountability is created by Business Coaches

    Holding yourself accountable is a key component of business coaching. However, a consultant and a business coach are not the same things. A business coach is different from a consultant in that they are not paid for their services. However, they won’t do any of the work for you in your company.

    They are there to keep you focused on the end goal and to remind you of why it is important to achieve it. To keep your commitments, they will encourage you. If needed, they’ll act as a sounding board for ideas and point out your business and personal blind spots.

    Business Coaches help you identify your blind spots

    Good business coaches can help you identify your blind spots and help you overcome them. It’s easy for entrepreneurs to get bogged down in the minutiae of their business and lose sight of the big picture.

    A business coach makes several insightful observations about the brand and operations that you might have never considered before. For finding a business coach, it is recommended to use your network.

    Plans that can be put into action are created by Business Coaches

    Active business owners want to know what their motivations are for setting and achieving business growth goals. A company’s owners are ultimately responsible for the speed and passion with which a goal is achieved (if ever).

    No burning reason exists for achieving a business goal if it is not tied to the business owner’s dreams, goals, and plans for himself or herself.

    An owner’s vision of where they want to take their business is clarified, and coaching helps them plan and prioritize goals and strategies that will help them get closer to their desired outcome.

    Coaches assist owners in determining their goals and creating a road map to reach them, according to the company. Owners can benefit from their perspective on the business by identifying which items are merely tasks and which are long-term objectives.

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    Business coaches guide you to the Right path

    If you’re not sure where you’re going in business, a business coach can be your compass. The results you get from even small changes in your direction over time can be dramatic. When running a business, it’s easy to get caught up in the day-to-day.

    To ensure that you are on the right track, a business coach acts as an objective third party who regularly checks in.

    Business Coaches help you obtain Venture Capital funding for your Business

    To convince investors of the value of your business, a business coach can help you develop communication and negotiation strategies.

    When it comes to this type of financing, a business coach can help you identify your company’s growth potential and develop your skills. You can also talk to a business coach about alternative sources of funding, such as grants or crowdfunds.

    Business Coaches help you scale your Business

    As an example, a business coach could help you choose the right business structure, write a business plan, or start a home-based enterprise.

    You may become overwhelmed as your business grows. While you may be aware that there are many systems that you’d like to streamline or improve, you’re not sure where to begin the process.

    As a result of their unbiased viewpoint, a business coach can help you devise procedures to increase productivity and reduce stress.

    Business Coaches help you fill in the knowledge gaps

    The fact that you don’t know what you don’t know is often the biggest roadblock to success. No amount of Googling will help solve a problem that you aren’t sure how to express or anticipate. Many of my successes can be directly attributed to what you’ve learned from business coaches over the years.

    Investing in oneself should be always your priority. Business coaches are excellent accountability partners who can help you learn, grow, and evolve as a person.

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    Business Coaches assist you in overcoming obstacles and achieving your goals

    Self-investment is one of the best investments that you can ever make. Having a business coach is an invaluable asset if you are struggling in your career, want to increase sales, or want to improve your business relationships.

    When you have a coach or mentor, they can help you navigate through challenges and achieve your personal goals. Through a mentor who has achieved what I hope to in the future, and by avoiding his mistakes in his professional life, you can accelerate your growth.

    Conclusion

    Finding a business coach who is a good fit for you is the next step if you’ve decided to work with a business coach. Consider asking your network for referrals as a first step in the hiring process.

    Always keep in mind that every business is unique and that a business coach who worked wonders for one entrepreneur may not be the best fit for yours! If your network is unable to provide you with any referrals, begin your search online.

    Verify the business coach’s experience before hiring. Working with a business coach is ultimately up to you. In either case, you should rely on your judgment. After all, you are the one who best understands your business and its needs!

    FAQ

    What do you use a business coach for?

    Business Coach can help you make better decision and set better goals for your business.

    Is having a business coach worth it?

    Yes, if you find a good business coach they can help you drive your business to success.

    Who are the best business coaches?

    Barry Moltz, Tammy Adams, John Mattone, Steve Mitten and Marshall Goldsmith are some of the best business coaches.

  • What is the Megacity? – Mukesh Ambani’s $75 Billion Project

    The popularity of Jio isn’t something hidden! We are well-familiar with the immense success of Mukesh Ambani’s Reliance Jio. After establishing its strong position in networking, Mukesh Ambani now aims for building an extremely advanced city near Mumbai, the Megacity. The city is expected to have great features and be entirely modern.

    Currently, Mukesh Ambani, and the team are working on the blueprint of the company. This megacity is set with an approx. investment of $75 billion in the upcoming decade.

    This project has been approved by Reliance Industries (RIL) which is acting as the special planning authority. Reliance Industries will be managing this project and also, supervise the administration of the city. This project will be cutting out the red tape, transaction time, and cost of the project.

    This megacity includes the territory owned by Navi Mumbai Special Economic Zone (NMSEZ), which is around 4,300 acres. This specific land connects with the Jawaharlal Nehru Port Trust and to the construction of the new airport project.

    By March 2021, Reliance Industries signed a mutual memorandum understanding with the NMSEZ on the land lease contract and also, the development rights with the preliminary payment of Rs. 2,180 crores.

    The project, Megacity, is set up to achieve the immense goals of uplifting the urban infrastructure as being established by a private sector player for the first time in modern India.

    Reliance Industries signed the official memorandum of understanding with the Maharashtra Government in order to formulate an economic center at a global level. This would further include the world’s top-notch integrated digital along with the services industrial areas in the form of a global alliance.

    Dhirubhai Ambani’s Dream City
    Modifying urban infrastructure
    FAQ

    Dhirubhai Ambani’s Dream City

    The concept of establishing a megacity near Mumbai isn’t a new idea by the Reliance Group of Industries. In fact, when we dug up some history behind this project, it was discovered that it was the dream of Dhirubhai Ambani, the legendary founder of the Reliance Group of Industries.

    Dhirubhai Ambani wanted to establish a city with the advancement of the World level, near Navi Mumbai. He first came up with this idea in the early 1980s, when he brought up a project for connecting South Mumbai with Navi Mumbai by road. This project was very well received and would have decongested Mumbai long ago.

    Ambani began executing this project in 2005 when he allied with Nikhil Gandhi, founder of SKIL Infrastructure. Together they planned for the formulating an SEZ on mega Chinese SEZs lines. Nikhil Gandhi had been acquiring lands since early 2000. Many sources also mentioned the connection of Tata Group with the SEZ project, but this was eventually outwitted by Ambani who always wanted to work with SEZs.

    Ultimately in 2018, the government of Maharashtra permitted the SEZs under Maharashtra Industrial Policy to migrate to various melded industrial areas for marking the available lands for industrial units. Later on, the Navi Mumbai SEZ (NMSEZ) applied for consent to modify the SEZ into the Integrated Industrial Area and received it as well, based on its policy.

    This mega project, initiated by Ambani is expected to grow into an extremely successful project just like the remarkable success received by Reliance Industries with its several projects including the Jio and Jamnagar refinery. It would be Supreme, especially in terms of excellence and affordability.

    As the government of Maharashtra has already approved the establishment of the Navi Mumbai sea link project that would connect South Mumbai directly to Larsen & Toubro and Tata Projects.

    Alongside, the project of establishing a new airport by the GVK-led consortium. Both these projects will be running simultaneously and would offer the connection of industrial township, owning 15% of total land area for the residence and the rest for industrial purposes.

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    Modifying urban Infrastructure

    Ambani’s plan for the megacity project is very exclusive and advanced. He ought to build up a never-seen-before infrastructure, similar to its former Jio redux- which kept the whole of India wondering!

    According to experts, this megacity project holds the potential to succeed like Reliance Jio, in an extraordinary phenomenon. This exclusive project by Reliance Industries will be opening new levels of transformation in the urban culture and its infrastructure, in India.

    Moreover, this is expected to enrich the top real estate analyst, stating this project will lead to overturning migration. This is because the property prices in the megacity will be lesser than in Mumbai. That’s why people would seek more such openings!

    Besides, the most intriguing part of this megacity project is that Reliance Industries will not only establish this city but also, work on its administration and also, govern it.

    Reliance has been given the special planning authority license for embarking on this. Ambani would be cutting down the costs by eliminating the transaction time and red tape. More simply, this project aims to achieve drastic changes and modifications in the urban infrastructure.

    Conclusion

    Mukesh Ambani took towards Dhirubhai Ambani’s dream city, by working on a special project of establishing a megacity near Navi Mumbai. Ambani has fetched an investment worth $75 billion for this project.

    As approved by all the authorities, Reliance Industries is working on the Blueprint, and soon, they will get on with the construction. This megacity project is functioning exclusively with massive advancement in the urban infrastructure in India.

    This would be totally cost-effective and would present properties with affordable rates. Megacity is the initiative to build India with an abundance of technology and modern infrastructure. Stay tuned for more updates!

    FAQ

    What is the total investment of Mukesh Ambani’s megacity?

    The project is expected to draw in as much as $75 billion in investments over the next ten years.

    What is the location of Mukesh Ambani’s Megacity?

    The megacity will be located in the in the vicinity of Mumbai.