SEMINAR PROJECT REPORT SUBMITTEDTOWARDS THE PARTIAL FULFILLMENT OF UNDER GRADUATE DEGREE IN BUSINESS ADMINISTRATION
ONLINE MARKETING OF MYNTRA.com
SUBMITTED BY: NAME: MANAS JHAWAR BBA General (2012-2015) Roll No.:- G-4
FACULTY GUIDE: Ms. Ashima Ahuja
SUBMITTED BY: Manas Jhawar Enroll No.:A3906412122
AMITY SCHOOL OF BUSINESS, NOIDA AMITY UNIVERSITY – UTTAR UTTAR PRADESH
CERTIFICATE OF ORIGIN
This is to certify that I , Mr. Manas Jhawar, a student of Under Graduate Degree BBA General (2012-2015), Amity School Of Business, Noida has worked under the able guidance and supervision of Ms.Ashima Ahuja. This seminar project report has the requisite standard for the partial fulfillment of the Under Graduate Degree in Business Administration. To the best of our knowledge no part of this report has been reproduced from any other report and the contents are based on original research. I am aware that in case of non-compliance, Amity School of Business is entitled to cancel the report.
(Manas Jhawar) (A3906412122)
(Ms. Ashima Ahuja) (Faculty Guide)
ACKNOWLEDGEMENT
I express my sincere gratitude to my faculty guide Ms. Ashima Ahuja for her able guidance, continuous support and cooperation throughout, without which the present work, would not have been possible.
Signature (Manas Jhawar)
EXECUTIVE SUMMARY
Myntra.com is into the online shopping business. It is an online retailer of fashion and lifestyle products in India. It began its operations in the B2B (business to business) segment with the personalization of gifts, which included: clothing, footwear, cosmetics. In this project I have done a study on the concept of online marketing and the strategies which myntra.com have used, for this purpose secondary data collection method is used.
INTRODUCTION Myntra.com is an Indian e-commerce company of fashion and casual lifestyle products, headquartered in Bangalore, Karnataka The company was founded in 2007 by IITians Mukesh Bansal, Ashutosh Sac and Rishi Ranjan with a focus on personalization of gift items. By 2010, Myntra shifted its focus to the online retailing of branded apparel
In May 2014, Myntra.com merged with another Indian e-commerce giant Flipkart to become a formidable force against the competition from Amazon, an international online business that entered the Indian market in June 2013.E-commerce in India Myntra currently has more than 500 brands with over 60,000 products that are delivered almost everywhere in India using its delivery networks HISTORY
Established in 2007 by Mukesh Bansal along with Ashutosh Sak and Rishi Ranjan, Myntra was in the business of on-demand personalization of gift items. It mainly operated on the B2B (business to business) model during its initial years. Between 2007 and 2010, the online portal allowed customers to personalize 15 products such as t-shirts, mugs, mouse pads, calendars, watches, teddy bears, pendants, wine glasses and jigsaw puzzles. Customers could order for these online and these would be home delivered in 3 days’ time. Within the initial 3 years, Myntra became India’s largest personalization platform with more than 50% of the market share. It also offered the personalization of jerseys of various cricket and football teams including the Indian cricket team, the IPL teams and the Premier League football teams. In 2010, it expanded its catalogue to include fashion and lifestyle products. Myntra tied up with various popular brands to retail a wide range of latest merchandise from these
brands. Myntra offered products from 350 Indian and International brands by 2011. Brands like Nike, Puma, Converse, Adidas, Decathlon, Reebok, Lee Cooper, Numero Uno, Sketchers, Crocs, Fila, Lotto, ID, Catwalk, Carlton London and Red Tape found the perfect online retail platform. Myntra also had casual wear for men and women from brands like Jealous 21, Forever New, Classic Polo, Inkfruit, Lee, Nike, Inc., Probase, Puma, Adidas, Reebok, Ed Hardy, Decathlon, Lotto, Mr. Men, Tantra and Guerilla. The website saw the launch of Fastrack watches and of Being Human, the brand.
ONLINE MARKETING Online marketing refers to a set of powerful tools and methodologies used for promoting products and services through the Internet. Online marketing includes a wider range of marketing elements than traditional business marketing due to the extra channels and marketing mechanisms available on the Internet. Online marketing can deliver several benefits such as:
Growth in potential Reduced expenses Elegant communications Better control Improved customer service Competitive advantage
Online marketing is also known as Internet marketing, Web marketing, digital marketing and search engine marketing (SEM). The broad online marketing spectrum varies according to business requirements. Effective online marketing programs leverage consumer data and customer relationship management systems.
Online marketing connects organizations with qualified potential customers and takes business development to a much higher level than traditional marketing/advertising.
Online marketing synergistically combines the Internet's creative and technical tools, including design, development, sales and advertising, while focusing on the following primary business models:
E-commerce Lead-based websites Affiliate marketing
Local search
Online marketing has several advantages, including:
Low costs: Large audiences are reachable at a fraction of traditional advertising budgets, allowing businesses to create appealing consumer ads. Flexibility and convenience: Consumers may research and purchase products and services at their leisure. Analytics: Efficient statistical results are facilitated without extra costs. Multiple options: Advertising tools include pay-per-click advertising, email marketing and local search integration (like Google Maps). Demographic targeting: Consumers can be demographically targeted much more effectively in an online rather than an offline process.
The main limitation of online marketing is where goods are being sold, the lack of tangibility means that consumers are unable to try out, or try on items they might wish to purchase. Generous return policies are the main way to circumvent such buyer apprehension.
MARKETING OF MYNTRA.com
Myntra has successfully used social networking websites Facebook and Twitter to expand its customer base. Myntra positions itself as a fashionable new age brand. It launches major marketing campaigns every year. In February 2012, Myntra rolled out an OOH (out of home) campaign across 2 cities to build brand awareness and promote online shopping. Myntra has used mostly viral marketing and internet for its popularity coupled with occasional discounts and referral discounts. It can be given a rating of 3/5. Myntra.com is an aggregator of many brands. Its business model is based on procuring current season merchandise from various brands and making them available on the portal at the same time as in respective retail brand outlets. It is a Business to Customer (B to C) revenue model.
RESEARCH METHODOLOGY
Objectives of the Study: 1. To study the concept of online marketing 2. To study the marketing strategies of mynta.com
Data Collection Method: Secondary Data:
The secondary data refers those, which are already stored somewhere for someone’s requirement or reference. It can be collected from sources like books, internet etc. For my study purpose I have also used various sources of secondary data. I have used sources such as Internet, books, discussing with friends, etc. Secondary data is collected through company periodical, broachers etc. of the company.
CONCLUSION Marketing and Sales is a core activity of Myntra. By looking at the popularity of Myntra we can conclude that Myntra is doing a much better job in Marketing & providing its services to customer.
BIBLOGRAPHY
http://en.wikipedia.org/wiki/Myntra
http://www.myntra.com/
