Find products/services recommended by friends – Revaalo

There is a strong competition in every segment of market. The scenario is good for the consumers since because of heavy competition there is always a check on the price, however, every story has a second side to it. With so many options comes confusion for consumers. Last month a friend of mine wanted to buy a mobile phone for his brother. He had a budget set in between 12000 to 15000 and he thought it will be easy choice for him.

How wrong he was! There are so many companies which offer a product in that price range and with similar specifications, whom to trust? When you go to the reviews section you will see a complete range of reviews – 1 Star to 10 Stars. That makes situation even more complex for you.

To answer my question of trust – we have a solution now – Revaalo.com

Start-up which aims at helping consumers make informed decisions by providing them unbiased trusted consumer reviews. Now just imagine when next time you go to buy a product and you see a review of your friend – how is that going to help your decision making?

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The Concept

Studies have shown that if a user wants to buy/use product/service, 9 out of 10 users will search for reviews online.

Generally rating in review site is puzzling, 1st reviewer may say 10 rating & with the review “Best review on the Earth”. Next reviewer will give 1 rating with a review “Worst service on the Earth”.

As an end user who is planning to use the service, it’s completely puzzling which review to believe since he does not know the reviewer in person. Revaalo gives the reviews from known users/trusted users/experts (Users whom they know in real world). So, deciding on any local business and products will be easy with Revaalo.

Why this idea?

According to statistics 92% of the people look for reviews online before buying or using a product or a service. The idea is to help people make better decisions. The reviews present online are not trust worthy, where as reviews on Revaalo are categorized on reviews by verified users and reviews by verified friends. That would help an end user make better decisions.

The minds behind the idea

Rajashekhar H

Co-founder, has 14 years experience in software industry, Engineer and PG from IIM Calcutta

Rajath Bhat

Co-founder, 3 years experience in s/w industry, MTech from IIT

Before Revaalo, both the co-founders were working in the same company. Thanks to Bangalore traffic -they used to get enough time during office commutation to discuss about the entrepreneurship and Startup discussion.  Co-Founders have discussed multiple problems right from Grofers, Healthkart, medical checkup, farmer’s crop insurance etc. For some there was already a startup working and for others they were not able to come up with a working business model. When Co-Founders discussed about trusted review/recommendation/rating problem, there was no ready solution & that was trigger that started www.revaalo.com .

Team

Story so far

As they say, when you start a business to solve a common problem which everyone around is going through the chances of success are much higher. Since the team at Revaalo is doing exactly the same they have got a great response since inception.

Within 6 months of operations they have got page visits of greater than 6 lakhs and they are able to get around 2000 page hits daily.They are getting more than 200 requests for adding new business every week.

The Future

 With a great idea and an experienced team, Revaalo is looking to get investors on board to expand their operations in other cities as well. Currently operating in Bangalore with the listing of 17 more cities, we are sure to see them in other cities soon. They want to make this one stop place for checking any product or a service before anyone goes ahead in buying or using them.

We wish Team Revaalo all the best and hope to bring you the news of their expansion soon.

To get the team going – ‘Growth is never by mere chance; it is the result of forces working together’.

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Forest Holiday Homes – Ekaant

Lot has changed over last 20 years in terms of crowd in the cities and in surrounding areas. People used to go to the nearby hill stations to spend their weekend peacefully. That is no longer possible; those places which we used to visit on weekends have become more crowded than the cities. There are still people out there who want to spend a peaceful weekend after 5 days of tiring work. Does the place of their dream really exist?

The answer is Forest Holiday Homes.

One of the most wonderful things about forest holidays is that they are wrapped in tradition. In lands full of simple cabins, ancient walking trails, foraging, remote villages and hidden lakes, there are lots of reasons to hug trees.

Imagine yourself in a Forest Holidays cabin; your sanctuary in the forest. The first rays of the sun falling on you through a small space of your window, birdsong carried on the breeze, absolute peace in the cool morning. You have a luxury of time, space and tranquillity, to relax, recharge and rediscover, to reconnect with an age when life was simpler and fun.

From the above description if you have made up your mind that this is where you would like to spend most of your holidays then you have made a right decision. You must now be wondering – Does such a place exist? If so, where?

The answer to your dreamland is Ekaant – an Eternal Solitude.

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The place is spread over landscape of 21 acres in true paradise land of Guhagar in Konkan, right into the arms of Mother Nature. At Ekaant, you will be living in a habitat which is blessed with inherent unique bio diversity. Ekaant is surrounded by green forests, lovely river-sides, lakes, farm lands giving you the rich feel of living close to countryside.

Homes at Ekaant are designed and developed in a way assuring the Eco-Friendly construction. At Ekaant you never lose your connect with Mother Nature.

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A top view of your dream Holiday Home

The place gives you more than you can think of. As mentioned above the place gives you best scenic beauty and along with that you will also be part of huge Spiritual Centre which is planned there and starting very soon.

The place will not only be refreshing your mind but also your soul where you explore and develop your spirituality. It will provide a variety of experiences for individuals and groups, including directed, guided retreats and preached retreats, days of reflections, programs and workshops and other creative opportunities with gifted national and local presenters.

If this is a place where you want to spend your holidays with your family and you want to know more about the project then you can visit – http://ekaant.in/

You can like our FB page for latest updates – https://www.facebook.com/ekaantwidewingscorp/

Freedom from Laundry – Western Dhobi Ghat

Studies have shown that laundry takes up to 15-20 hours of a working professional every month. For the busy urban working professionals, time is of the utmost need and finding time between job life and play life, laundry is that one task that most people end up procrastinating over. They very often have to worry about what to wear for Monday and the rest of the week. If we decide to go out on a weekend, the fact that your clothes are unwashed becomes a cause of worry.

Even if we have a maid for it, there are a different set of problems getting them to do the work. In short, in today’s world it is a big problem getting your clothes cleaned in a hassle free manner.

According to a KPMG report released recently, the organized laundry market in India is currently around Rs 5,000 crore while the unorganized one is estimated to be around Rs 2,00,000 crores. There is no doubt, the market is huge.

This problem has been tapped by many entrepreneurs and there are many Startups working on the same concept.  There is no doubt that this industry is huge – talking just for Pune, there are about 65 lakhs working population with an average expenditure of Rs 400 per month on just laundry.

In Pune, we have Western Dhobi Ghat, which is a Startup but doing great in terms of business. They not only decided to solve all the problems that were mentioned in the beginning related to your laundry, but have hit a bull’s eye in executing the idea.

The Start

In 2010, Anooj Chauhan(PGDM from SIBM), who was already assisting his father in their family business, was all ready to start on his own. While looking out for different business avenues, he found out that Laundromat stores were almost nonexistent in India. During those days it was a big gamble as laundry business has been an unorganized market . He endeavoured  to organized the sector.  After going through various hassles related to finding vendors and getting the permissions from the local authorities he started his first outlet in Oct 2012 at Vimannagar, Pune.

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The Present

It was early 2015, when Anooj was joined by Shantanu Pabalkar and his team. By this time, Shantanu was already part of various other successful businesses. The on boarding of Shantanu made a stronger team and now the complete team is focused to take westerndhobighat.com to the next level.

Currently they are operating in 5 locations in Pune. The rates are very competitive. They have some nice offers for their regular customers. All in all, great service at best rates.

As we mentioned earlier there are many players in this industry in different cities. What we found differentiated WDG from others is –

-Timely delivery within 24 hrs.

-Machine washed, no mixing of clothes Best in class machines and best products: fabric softeners as well as high efficiency detergents.

-Customer centric approach.

The Future

Though WDG is doing great in terms of business and serving over 20000 customers yearly,  they now need to have a VC on board so that they expand to newer markets. The good thing is that they have a successful business with happy customers. Customers mostly make repeated visits and are quite satisfied with the services they offer.

About expansion Shantanu says, ‘The plan of action is to first create a working profitable model in Pune and then replicate it in the metros.’

They plan to launch a mobile app very soon to make it even more convenient for their customers.

The feedback from their regular customers are great and a great morale booster which will make team to go ahead with plans of expansion.

Challenges

The biggest challenge for them is to attract people to start using their service – as there are many people who are not aware of the easy solution available in the market. They are happy with what they have.

There are various Startups in same field who have raised funding from the VCs and WDG has already been doing good so we are sure they are going to be in news soon. We hope to cover them again with an expansion plan and funding details.

Business/Sales ethics

Ethics comes into play in your everyday life even when you don’t realize it. You would have definitely received some extra bucks from a shopkeeper at any store, what you did in that case? The situation is an example of ethical dilemma. But this points to personal ethics – how you handle such situation. Business ethics comes from the individuals who are part of an organisation. For any organisation it is very important to make sure all the employees are given clear instruction about the ethics they need to follow. For personal ethics all you need to keep in mind is ‘Do unto others as you would have them do unto you’.

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Business ethics, also called corporate ethics, is a form of applied ethics or professional ethics that examines the ethical and moral principles and problems that arise in a business environment. It can also be defined as the written and unwritten codes of principles and values, determined by an organization’s culture, that govern decisions and actions within that organization. It applies to all aspects of business conduct on behalf of both individuals and the entire company.

Not all behaviour that is unethical is illegal. Let’s take an example. Real estate builder advertise that he is giving 10 percent off for the first 100 customer and customers decide to buy that. But once they see the price break up they see some extra charge of 10% which are not usually present or charges are marked up than the market.

Ethical Behaviour in Sales –

Ethical behaviour is more important for Sales team than any other team because sales people are the people who interact with customer directly. What the sales people say to the customer and how they behave in front of the customer is direct reflection of the organization and its ethics.

Let’s take this situation for a real estate agent. He has got a great house in his listing and if he is able to sell it he could make handsome commission on the sale. He had a look at the property and found out that there is internal leakage in the wall. He asked the owner about it. Owner told him that he will take care of it for short term as getting rid of the issue will cost big bucks. Owner also warns him that if he go ahead and disclose this information to the buyer he will take authority from him to sell the property.

In a situation like this, it’s best to remember that doing the right thing can be a hard choice and might not be advantageous to you. Although you really don’t want to lose this listing, the right thing to do is to disclose anything that affects the value or desirability of the home. Even if you think it might not be a major issue, it’s always best to err on the side of honesty and disclose the information. Either withholding or falsifying information is lying and therefore unethical.

You have to start from the personal ethics and make it a habit to follow it in your organisation also. I love this quote from Peter Drucker, famous management consultant and author, “Start with what is right, rather than what is acceptable.”

As a company it is very important for you to make sure ethical behaviour is followed. These are some of the points you can take a note of describe desirable and undesirable selling behaviour promote high standards of practice reduce the risk of fair trading breaches help staff make ethical decisions.

It is even more important for the startups not to forget basic business ethics. They have limited resources and finances which can force them to go the other way. Any brand or big company is made on very strong business ethics. If you are trying to be one practise business ethics.

Mention in comment any situation in which you were in business/personal ethical dilemma.

Now organising a puja is one click away – myhawanpuja.com

India is a land of tradition and culture. We still believe we have to do pujas before moving to the new house. In fact, we have pujas for any occasion you can think of. We spend a huge amount of our time and energy in planning and then organizing the event. In this digital world, we don’t find time for ourselves; we have too much on our plate, but we have a strong sense of belief in our traditions that when it comes to any auspicious occasion, we want to organize a prayer.

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Everything is going online from booking a cab, finding a restaurant to paying your bills, then why not organising pujas. MyHawanPuja.com is one such effort which aims to minimize time and efforts one needs to organize a puja and buy products online. Reports suggest that this industry in India is worth 30 Billion USD. You can make out how much money every family spends on an average to religious prayers and rituals for the prosperity of life.

When I first looked at the concept, I doubted its appeal. But then I remembered my childhood, how much effort was made by everyone in the family when any such event was organized. It brings so much peace to you when you think everything now is just a click away.

The idea!

As they say, great Start-up ideas originate when you try to solve a problem. More often than not these are the problems that founders have faced themselves. This amazing story is no different. When Pankaj moved to Delhi/NCR in his new house and wanted to organize GrahPravesh, it proved to be a next to impossible task as he had no relatives or friends there.

He says, ‘Then I realized that others like me might be facing the same problem and I should do something about it. So I started working on the idea and launched myhawanpuja.com in 2016.’

The company revenue model is based on a set percentage that they would be receiving from every ceremony booked.

For now the company is bootstrapped but the response has been great which will encourage the team in making this big. They are working on a business plan and approaching investors which will give them opportunity to grow faster.

What is on offer?

Since people are busy and life is too fast paced, people don’t have time to arrange and conduct a puja on their own. From getting different products to arranging for a pandit, getting everything in place is a herculean task. Just as one buys different products like clothes, groceries, etc. on an e-commerce portal, one can buy various puja packages in one click through the portal. They provide Puja services by well qualified and experienced people. They provide Puja services by well qualified and experienced pandits and provide puja products in Delhi/NCR and Lucknow as of now but very soon you will find them in other major cities.

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They have more than 40 different pujas with them with a price ranging from 1500 to 25000. They also provide customized pujas depending on the requirement.The prices are very competitive if you take into account the effort required to put together everything on your own.

The process is as simple as it could get. Choose a puja you want to conduct, add it to cart, fill out the basic information and you are all set.

They also conduct e-puja (puja conducted through video chat) for all other locations.

People behind the idea

Pankaj Misra originally came up with this idea and was joined by Kushagra Pandey to take the idea to the next level.

PankajMisra is an IT professional with over 9 years of experience in top Indian & Multi National IT companies. Using his technical skills and ingrained management expertise, he commenced his own business venture to provide people living in various cities an easy solution to find “Pandits” who can perform religious rituals at festivals & occasions.

Kushagra Pandey being a management professional with more than 5 years of experience has an established career in driving business revenues. With his understanding of marketing, he drives the business through launch and promotions, extending its reach to the users in order to meet the ultimate purpose and achieve the company’s mission.

Both of them make a great team and their efforts can be seen in the way they are approaching the business and meeting goals.

Give away

They want to give something back to the society. The aim of their company is to provide a hassle free experience to customers who plan a puja. They want to deliver everything required related to a puja in one click.

The Future

Currently operating in 2 cities, Lucknow and Delhi/NCR, the team wants to expand to other cities in due course of time.  Also, they are planning to add and increase product range so that customers can have all puja related services and products at one place.

Our take

The execution will be important. I think this is a good idea to work on as the industry is big and in demand. If Pankaj and team are able to deliver what they are promising, they are sure to succeed. It would be interesting to see how they scale up this idea. We wish them luck from our side.

I would like to end with a quote, ‘ The product that wins is the one that bridges customers to the future, not the one that requires a giant leap’.

Virtual Reality –Next big thing in Real Estate Sales

The digital evolution of the past two decades dramatically changed the way we do business. Speaking of reality business, digital pictures and sharing of the same over internet changed the way we used to showcase our properties in the 90s. It became better and better with higher resolutions, better ways of sharing them quickly, putting them across the clients using internet and social media.

Then came the virtual tours which could not only showcase the properties in a complete 360 degree but the potential customers could interact with it.

The open house or visiting the property was not the only way to show your property. With virtual tours the potential buyers can view multiple homes without leaving his house. The salesman of a builder can take the buyer on a virtual tour without leaving his desk.

Virtual tours have been around for some time now. Builders and property marketers have used them for some of the properties if not all. Below are some of the findings from various studies on the benefits of using a virtual tour in real estate,

 40% of prospective buyers find virtual video tours to be very useful to make an informed

decision

 Real estate listings with virtual tours receive 403% more inquiries than those which do not include video

 73% of homeowners would be more likely to list with a realtor who uses virtual tours to market their home

 Real estate virtual tours can reach prospective buyers and customers 24 hours a day, seven days a week from any computer.

What has really stopped many of the builders and brokers from using these tours for all their projects are the high costs associated with creating these tours as well as lack of technical skills required for hosting such tours on their own websites.

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The next big thing that we think is going to revolutionize how builders and property owners will sale and market their properties is Virtual Reality. Imagine the following scenario,

Ajit one of the leading salesmen of a builder is visiting a high profile customer. The customer is an HNI and is an extremely busy person. Ajit does not have enough time to drive along with him to 10 different properties. He is carrying all the brochures and digital images on his computer. After showcasing all the properties, the customer could still not make up his mind. Worse could be that there is mis-selling that could have happened when the customer short-listed 5 properties for site visits.

Another customer of Ajit is from Mumbai and is interested to buy a property for investment in Pune. Ajit has a limited time to convince the client of some of the best projects without actually visiting the site.

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How can technology help Ajit showcase all his properties in the best possible manner, impress the client and win his trust?

That is where the mix of Virtual Tours and Virtual Reality can significantly help Ajit make the sale happen. Ajit opens his laptop and first he showcases the Virtual Tour of all the properties. At the same time, he inserts his phone in a Virtual Reality Headset and asks the customer to wear the headset.

Customer has now been teleported to the property which is hundreds of miles away from him. He can visit the hallway, bedrooms, kitchen, look at surrounding areas and more while still sitting on his sofa. He can get the views from the balcony of the proposed flat as if he is standing in the balcony and not merely on a computer screen.

Virtual Reality is the next best thing that can happen in the real estate sector for better sales and marketing of the properties to potential buyers.

With the advent of technology and mainstream acceptance, many realtors and technology firms see VR tools becoming key sales tools.

Virtual Reality cannot replace a salesman. But it can surely help the salesman, brokers and builders in selling it quickly.

Success comes when you are ahead of others and time. We are creating virtual tours for builders. So if anyone looking to create a virtual tour for their properties, we are just a comment away.

 

Forest Holiday Homes – How to attract people

The city is crowded, even the hill stations are not the place for peace on weekends. After 5 days of tiring work you need some peace for sure. Does the place of your dream really exist?

Hill stations are no longer places to relax for weekend; they are more crowded than the city. But there are people out there who want to spend a peaceful day. The one place to be is Forest Holiday Homes.

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One of the most wonderful things about forest holidays is that they are wrapped in tradition. In lands full of simple cabins, ancient walking trails, foraging, remote villages and hidden lakes, there are lots of reasons to hug trees.

So the people who are selling such places have hit a bull’s eye. They are selling the right thing. Now they have to sell it in right way.

In this article I am not covering Forest holiday Homes, this is more about attracting people to the place as a sales and marketing team.

The most important thing for this campaign as in any other campaign is to reach the right set of people. Once you reach them it is very important to capture or grab their attention immediately. You must be reaching them your through your website or brochure and how you present you ideas is what the game is all about.

The most important thing is your headlines; second the picture and third photo caption and then the sub heads and finally the rest of the text. So if you have not designed the campaign keeping the above sequence in mind then revisit. The headlines and image does half of your sales job.

The headline should showcase a benefit or promise. I was to this beautiful place, Coorg, with my friends and this is how one of them described a house on hill – “You can’t help but fall in love with the house at the hilltop.” Headlines like these give a direct message – this is the place you want to be. So if you selling a forest holiday home, you have to come up with a line that makes the reader to be at that place. The images and quotes should be such that reader should be able to image themselves in the place in real.

You need to help them picture their holiday. The debate has always been there if words or picture has more effect on the buyer. The jury is divided but I think for the Holiday Homes images win the battle. Always add captions to your photos. They will, as hinted earlier, have much higher levels of readership than your main body of text.

The other important point to attract people is to present things to them how they would like to see it rather than how you would like to have them. If you are writing out a mailing campaign them you have to understand there are 3 types of readers in the market. The “Yes” reader – is interested in everything that is good and of their interest. The “No” reader – you will never be able to convince them that what you are selling to them is good for them. They will have preconceived notion, you are overpriced. Then there are “Maybe” reader – they are not sure about the thing. They don’t know if they want a Forest Holiday home or not. Your campaign/mail should be designed to give them enough reasons to go with you.

The things that have I have mentioned are very basics. The point is we usually don’t design a campaign for marketing Holiday homes keeping these points in minds.

All you need to know about GST

Lot has been mentioned about Goods and Services Tax (GST) over last few days. I am trying to write something which will make you understand GST than just to provide you information about it.

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What is GST?

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.

Origin of GST

GST is being introduced in the country after a 13 year long journey since it was first discussed in the report of the Kelkar Task Force on indirect taxes. In 2003, the Kelkar Task Force on indirect tax had suggested a comprehensive Goods and Services Tax (GST) based on VAT principle. A proposal to introduce a National level Goods and Services Tax (GST) by April 1, 2010 was first mooted in the Budget Speech for the financial year 2006-07. From 06-07 the bill has been finally passed in 2016 Monsoon session.

How is it going to work?

Keeping in mind the federal structure of India, there will be two components of GST – Central GST (CGST) and State GST (SGST). Both Centre and States will simultaneously levy GST across the value chain. Tax will be levied on every supply of goods and services. Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy and collect the State Goods and Services Tax (SGST) on all transactions within a State. The input tax credit of CGST would be available for discharging the CGST liability on the output at each stage. Similarly, the credit of SGST paid on inputs would be allowed for paying the SGST on output. No cross utilization of credit would be permitted. Integrated Goods and Service Tax (IGST) shall be levied on Inter State transactions of goods and services which are based on destination principle.

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So in this example you can see that once the goods are moved from one state to the other state and a tax is imposed, the tax which was already added in the initial stage(CGST & SCST) are deducted from final invoice for the consumer.

Why is it needed?

  1. It is estimated that GST can boost India’s GDP by 1-2 per cent.
  2. GST will convert the country into unified market, replacing most indirect taxes with one tax.
  3. GST is expected to provide the benefits of simplification of tax regime, broadening of tax base, elimination of tax cascades, enhancing export competitiveness, ensuring greater regional equity and improvement in transparency.
  4. GST is a Value added tax, i.e., the final consumer will bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.
  5. GST has become a preferred global standard. All OECD countries, except the US, follow this taxation structure.
  6.  GST will not distinguish between sales and services, and thus the tax calculation will be done on total.

How is it going to help business?

Starting a business will be a lot easier. Currently any new business needs to have a VAT registration from sales tax department. There are lots of issues faced by a business which is based in one state and planning to do business in other states also. GST will solve this problem as it will bring uniformity in process and will make inter-state business easier and simple. The introduction of GST will help save time and energy of a business in calculating taxes at various stages. In addition to this, the cost for the logistics and supply chain inventory will be curtailed by almost 30-40 per cent. After the implementation of GST, paints and other construction chemicals companies will benefit from lower tax rate.

Is everyone going to be benefited?

NO, initial there are losses which need to be incurred by the state government since currently they have full control on the percentage of tax on various product and service. The States will be presenting their policies in the upcoming monsoon session, thus it remains to be seen how uniform these policies will turn out to be. For few years Central has told the state government that they are going to provide a compensation for the loss incurred.

Final Take

GST is clearly a long term strategy; it would lead to a higher output, more employment opportunities, and economic inclusion. Initially however, it is likely cause high inflation rates, administrative costs, and face stiff oppositions from states due to loss of autonomy.

Marketing Mix

Marketing Mix,  a term coined by Neil Borden, are the ingredients that combine to capture and promote a brand or product’s unique selling points, those that differentiate it from its competitors.

To better understand this term let us first get to most basic definition of marketing – Putting the right product in the right place, at the right price, at the right time. This is what marketing mix is, its forms the 4 P’s of marketing.

If you are into marketing you just need to create a product that a particular group of people want, put it on sale some place that those same people visit regularly, and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy.

Easier said than done! It requires lot of effort to find out what people exactly want as everyone has a different taste so you need to come up with something which masses will go after. Then where those set of people will be going is another hurdle in the path. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critical time.

As a marketer if you plan to launch premium high budget apartments in a TIER 2 city, you are sure to fail in the campaign since you are not satisfying all the P’s. So next time when you start any campaign make sure all your P’s are ticked.

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Now what are 4 P’s?

Product – The first of the Four P’s of marketing is product. A product can be either a good or a service that fulfils a need or want of consumers. Whether you sell clothes and accessories or provide luxury apartments, it’s imperative that you have a clear idea of exactly what your product is and what differentiates it from similar product in the market before you can successfully market it.

Price – Once you are fully aware about your product you can start making pricing decisions. Pricing decision should take into account profit margins and the probable pricing of the competitors. Pricing includes not only the list price, but also the discounts, financing and all other options.

Place – It’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients. . If a product is a consumer product, it needs to be available as far and wide as possible. On the other hand, if the product is a Premium consumer product, it will be available only in select stores. Similarly, if the product is a business product, you need a team which interacts with businesses and makes the product available to them.

Promotion – Promotion decisions are those related to communicating and selling to potential consumers. Since these costs can be large in proportion to the product price, a break-even analysis should be performed when making promotion decisions. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on investment.

I hope you liked the article and going forward you will take above point into consideration before launching any product in the market. Whether you are a Startup or an established business, balancing these four elements is critical for any marketing department and organization as a whole.

Looking forward to hear from you about the best marketing campaign you have read about or executed.