A Project on: ADVERTISING STRATEGIES OF FLIPKART AND THEIR EFFECT ON STUDENTS OF BHU Under the Guidance of: Submitted By: Acknowledgement

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A Project on: ADVERTISING STRATEGIES OF FLIPKART AND THEIR EFFECT ON STUDENTS OF BHU Under the Guidance of: Submitted By: Acknowledgement
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    A Project on: ADVERTISING STRATEGIES OF FLIPKART AND THEIR EFFECT ON STUDENTS OF BHU   Under the Guidance of: Submitted By: Prof. Usha Kiran Rai Rakesh Singh Sr. Faculty, FMS, BHU Milind Kasi   Acknowledgement The satisfaction, which accompanies the successful completion of the project, is incomplete without the mention of a few names. We take this opportunity to acknowledge the efforts of the many individuals who helped us make this project possible. We would like to express our sincere gratitude to our Project Mentor Prof. Usha Kiran Rai, Sr. Faculty, FMS, BHU for giving us an opportunity to work under her esteemed guidance which helped us to improve upon our lacunae during the project research. We are very grateful to her for providing us with every possible opportunity & freedom to learn and explore. We are deeply indebted to her for her suggestions, constant inspiration and encouragement. We would also like to thank all our batch mates and students of 1 st  semester for their support during data collection. Rakesh Singh Milind Kasi  Contents: S.No. Particulars 1 Introduction 2 Funding 3 Acquisition 4 Flipkart’s Success Mantra  5 Future Road Map 6 Threats in future 7 Research Methodology 8 Research Design 9 Secondary Data analysis    Advertisements used in newspapers and magazines      Online Advertising      Flipkart on Twitter and Facebook   10 Primary data analysis 11 Findings 12 Suggestions 13 References  INTRODUCTION Things are easier said than done! To realize our dreams and that also in such a grand manner is really a tough task. The founders of Flipkart have probably conquered their dreams with the amazing success of Flipkart. Flipkart is something which has really opened up the Indian e-commerce market and that also in a big way. Flipkart was co-founded by Sachin Bansal and Binny Bansal in Oct 2007. Both are graduates from IIT-Delhi and have prior work experience in Amazon.com They both were solid coders and wanted to open a portal that compared different e-commerce websites, but there were hardly any such sites in India and they decided to give birth to their own e-commerce venture - Flipkart.com Thus was born Flipkart in Oct 2007 with an initial investment of 4 lac (co-founders savings). It was never going to be easy since India has had bad past experiences with e-commerce trading. It was not an easy segment to break into, people were very particular in paying money for something which they had not seen and received. The trust was missing in the Indian customers. So what Flipkart had to do was to instill trust and faith in their customers. And they did exactly the same, will discuss more on how they did so later in the post. Flipkart began with selling books, since books are easy to procure, target market which reads  books is in abundance, books provide more margin, are easy to pack and deliver, do not get damaged in transit and most importantly books are not very expensive, so the amount of money a customer has to spend to try out one's service for one time is very minimal. Flipkart sold only books for the first two years. Flipkart started with the consignment model (procurement based on demand) i.e. they had ties with 2 distributors in Bangalore, whenever a customer ordered a book, they used to  personally procure the book from the dealer, pack the book in their office and then courier the same. In the initial months the founder's personal cell numbers used to be the customer support numbers. So, in the start they tried their best to provide good service, focus on the website - easy to browse and order and hassle-free, and strove hard to resolve any customer issues. Since there were not any established players in the market, this allowed them a lot of space to grow, and they did in fact grew very rapidly. Flipkart had a revenue of 4 crore in FY 2008 - 2009, 20 crore in FY 2009 - 2010, 75 crore in FY 2010 - 2011, and the revenue for FY 2011 - 2012 which ends on 31 Mar 2012 is expected to be 500 crore. This is indeed a massive growth. The company targets revenues of 5000 crore by 2015.  The company started from 2 employees and now has around 4500 employees. Flipkart started with consignment model as discussed above, since most of the customer issues like delivery delays etc. result from procurement model, the company started opening its own warehouses as it started getting more investments. The company opened its first warehouse in Bangalore and later on opened warehouses in Delhi, Kolkatta and Mumbai. Today the company works with more than 500 suppliers. As on date more than 80% orders of Flipkart are handled via warehouses which help in quick and efficient service. A humble beginning from books, Flipkart now has a gamut of products ranging from: Cell  phones, laptops, computers, cameras, games, music, audio players, TV's, healthcare products, washing machines etc. etc. Still, Flipkart derives around 50% of its revenue from selling  books online. Flipkart is the Indian market leader in selling books both offline and online, it enjoys an online share of around 80%. The electronic items have a large number of players like Naaptol, Letsbuy, Indiaplaza, Tradus, Infibeam, Yebhi etc. The electronic market share is distributed among them in different unknown proportions. India has around 13.5 crore internet users today where as the number of homes with Cable and Satellite (C&S) television is 10.5 crore. The expected internet users will reach a figure of 30 crore by 2014 and C&S homes are expected to be 14 crore by 2014. Thus India has a tremendous internet growth and with the customers getting accustomed to e-commerce, the future of e-commerce sector is definitely rosy. An approximated 25 lac people have transacted online this year, the number is all set to increase with time. Also to mention most of the Flipkart customers use internet from PC's/Laptops to order goods. The use of mobile internet is very less at the moment, but with the advent of smart  phones the use of mobile internet for e-commerce transactions will soar with time. India has 8 crore mobile net users at the moment, the number is expected to swell to 22.5 crore by 2014. Funding:    Initially funded by the Bansals themselves with 4 Lakhs(INR).    Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010).    Private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in Flipkart, according to sources.
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