ITM BUSINESS SCHOOL

,
NAVI MUMBAI

“To Explore Business opportunities for Volume Based Model of MyDeals247,
especially Schools / Colleges category in Bangalore and its nearby area.”

Faculty Guide: Dr. Ganesh Raja Company Guide: Mr. Shashikant Kabra

Prepared by: Kapil Garg (App id: 2329) ITM Business School

INDEX
SL NO. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Section: Title Page Certification Acknowledgement Executive Summary Overview E-Commerce Sites – Comparison Sheet Organizational Chart Service portfolio Micro and macro Environment Project Proposals Research Design & Methodology Responsibilities Undertaken Swot anlysis Objectives Tasks, strategies & Process Conclusion Recommendations Page No. 1 3 4 5 6 8 9 10 13 16 18 20 23 26 27 30 31

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CERTIFICATION
This is to certify that the Industry Internship project report titled To Explore Business opportunities for Volume Based Model of MyDeals247, especially Schools / Colleges category in Bangalore and its nearby area is a bona fide work carried out by Kapil Garg, a student of PGDM program 2012-14 batch of the Institute for Technology & Management, Kharghar, Navi Mumbai under my guidance and direction.

Signature of Guide:

Mr. Shashikant Kabra VP Business Development +91 80500 84444 MyDeals247 eCommerce Pvt. Ltd.

Date: Place: Bangalore

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Ltd. Bangalore. Shashikant Kabra. Dr. Navi Mumbai for having given me the opportunity to undergo a longer duration of Summer Internship than the regular. MyDeals247 eCommerce Pvt. His assignments and tasks were of utmost importance to me in gathering quality knowledge and experience. being my chief mentor taught me a whole lot of things that I had never even thought about before entering the Corporate. Ganesh Raja played an extremely important role in making my project easier by guiding me whenever required and following me up with necessary inputs every now and then. Mr.ACKNOWLEDGEMENT I am extremely grateful to Institute for Technology & Management. VP. 4|Page .

I was given a complete details of some of our products. Now when I joined the company as intern their was an untouched category as Schools and Colleges where they need to focused but due to some uncontrollable circumstances unable to do in the recent past. I visited many Schools across the Bangalore to interact with the concern persons. But due to hackers. So I took the responsibility for the same. So it was a big challenge for new entrants to win the confidence of customer in their business model and their working. MyDeals247 recognized this gap and to promote and at the same time gain profit started the offline business for volume based deals. 5|Page .EXECUTIVE SUMMARY As E-Commerce has become an important tool for Day to Day trading. cyber crime and others had put an question mark on its reliability. their pricing which they had traded for in past and thought that their might some requirement occcur for the same in schools and colleges too. I was required to decide the target market in Bangalore and nearby areas for our products. set the meetings with the Purchase managers and owners of schools or colleges and meet them regardingg our company and our products.My project consists of an initial analysis by making some calls and see the response as it was an hit n trail method of getting the leads. Many organizations are now shifting to this trend so as to attract more customers. cold calling.

volume based discounts. when they want.AN OVERVIEW OF THE COMPANY Brief About Company: MyDeals247. they confine to a couple of choices.also. MyDeals247.average time to make a decision to buy any product online is between 2 hours to a week .com is the world’s first PERSONALIZED ecommerce platform  Totally personalized to the customer needs in the local cities and across the nationwide  One stop solution for the customer needs – buy / sell products/services.the primary reason for the failure is most of the sites are too generic . interests and then 6|Page . Most shoppers spend a significant amount of time by going through multiple websites and related comparison websites and still they cannot make a quick decision .com offers a revolutionary idea in the ecommerce industry which identifies individual's preferences. where they want) pretty much real-time.no personalization whatsoever. Internet users want some of these aspects today: personalized dashboards based on their current needs (what they want. and creates word-of-mouth marketing through personalized Ads  Promotes the products or services very effectively  Attracts new customers in no time About Mydeals247 Today's most E-commerce sites routinely experience transaction closure rates in the range of 3 to 5 percent of the total visitors .

delivers on-the-fly adjustments that make each customer feel the site was built just for him or her. 7|Page . Also. MyDeals247. MyDeals247 brings the lowest offers from the sellers based on buyer’s request in the local markets .com provides the current need analytics (on daily basis) to the sellers in the local markets.all the bids from sellers takes place on real time basis and are very much alive. It's pretty much like having your own e-commerce or online store to fulfill your own needs on daily basis.

Amazon Fixed Price C2C. B2B. A huge opportunity for the consumer to get the best offers when compared to the traditional fixed price model.E .only top5 best offers shown to the consumer.true alternative for gift card sharing. B2C. B2B Promote (through personalized Ads) and sell 8|Page .  Totally personalized experience to the consumer MyDeals247  No Listing Fee or hidden charges (Charges only the success fee from seller)    Online and Off-line (rural markets first time ever) C2C. B2B(small %) Voucher Model Fixed Price GroupON Daily Deals (City Based) Selling Products (recently) B2C Daily Deals (Very few cities) Fixed Price B2C B2B Real-Time Offers? NO NO NO Google Offers NO Alibaba  NO Real-Time eCommerce Platform offers dynamic prices by YES creating competition among the sellers . B2C.  Volume-Based Deals (Buy more. save BIG) . Totally dynamic price offers based on the consumer request at that particular point of time.Commerce Sites . B2C.Comparison Sheet Business Model Auction-Based Deals eBay Fixed Price C2C.

BDM) Paid Ads Gautam Nath (Ex. Valentine (Accounts Dept.Organizational Chart Venu G. (Sr. Somineni (CEO) Marketing & Sales Technical Department Finance Ravi Kuman s. Manager) (Rural & online marketing) Aneesh Sharma (Sr. (Director) Shashikant Kabra (Vice President) Sujana B. Manager) (Digital Marketing) Ram (IT Head) (PHP Developer & IT) G. Head) Interns Interns Interns Interns 9|Page . BDM) (Volume Sales) Sandeep Raju (Sr.

Mydeals247 have different kind of revenue models.  Simply customer posts their requirements and their after a waiting time allotted to customer and meanwhile the requirement is being processed at back end office and the best 5 choices are provided to customer with deadline time and if demand is fulfilled by website the goods are delivered to consumer destination by the seller directly.SERVICE PORTFOLIO Like e-commerce companies.  Cost Structure: – Here company work on approximately 10-20% margin depending upon who will get the shipping cost.  Company work on the policy of “Zero inventories and zero operating cost”. 10 | P a g e . So basically it has 3 Business model:- a) A Real-Time Marketplace (Buy / Sell Model)  It is an online buying and selling model and that why it is called as eCommerce Company which is completely real time market place as it is totally dependent on providing value to customer in terms of price range with their specific product.

 Here company have different category like Real Estate. professional training. amusement parks. save more”.  Deals with only 5 star rated retailers.general house-hold items. So company garbs the requirements from here having bulk quantity and then delivers the same with competitive prices in the market.  Categories involve .b) Volume Based Discounts  This model is an offline business model which is also a profitable one.  Cost Structure: . Boutiques/Spa/Hair Saloon. local events. education. entertainment. Hotels etc. Schools/Colleges. and services companies. 11 | P a g e .  Strategy adopted by company – “Buy more.For this category company work on the margin of approximately 10-15% but the order should be in bulk.

who signs for advertisement.Depending upon the no of questions to be asked by the merchant the amount is quoted to them. will provide a video which is posted on Mydeals247 website and some questions are asked from the customers about the same video. That’s why MyDeals247 came out with personalized Ad format where they showcase the power of particular organization with their USP directly on their website.  Cost Structure: .c) personalized Ad display and ‘Pay Per Lead’ model  Mydeals247 came out with different strategy and innovation in the field of advertisement as they know that in present scenario Merchants are worried about their marketing part and want to promote in best way to attract customers.  Process – The merchant.  There is a large gap between the paid ads/ non-organic results and organic results.  MyDeals247 ensures that merchant gets the complete database of the leads that had showed interest in their advertisement and also making consumers happy by paying them which is entirely different model then Google adwords. Today also people are following the organic results. Though Google adwords have provided them the opportunities but there are some question marks on their reliability. 12 | P a g e .  MyDeals247 worked on improving ROI for the merchants while displaying the relevant Ads to the consumers based on their interest at any given point in time.

The marketing environment consists of all the actors and forces outside marketing that affect the marketing management’s ability to develop and maintain successful relationships with its target customers. having very small organization structure. Ltd. Venu G. 13 | P a g e . Though these factors and forces may vary depending on the specific company and industrial group. All the employees working in this organization only think “consumer” to become it successful. marketing and sales executive work closely with the MD of the company. some of micro environmental factors which affects MyDeals247 are1. so the decision time is very short and didn’t follow any hierarchy.Micro and Macro Environment In order to correctly identify opportunities and monitor threats. they can generally be divided into broad micro environmental and macro environmental components. Organization’s Internal Environment:Having a small firm top decision is taken by CEO itself whether it is financial decision. the company must begin with a thorough understanding of the marketing environment in which the firm operates. the goal is to provide superior customer value and satisfaction. is a small private firm solely owned by Mr. Micro Environmental Factors:MyDeals247 eCommerce Pvt. Somneni who function as a CEO of the company. HR decision or marketing decision.

14 | P a g e .  Reseller markets (One who requires service and maintenance). suppliers of steel from Jindal steels etc. 4. Suppliers:One of the key successes for this company is its suppliers all around India which provides resource needed by the company to produce goods and services.2. 3.  Business markets (Various Industries and firm) through Volume based deals. E. they are the important link in the company’s overall customer “value delivery” system.g. Shashikant Kabra who promotes and sell the products depending upon the requirements received. Marketing Channels:Company has a good team for Marketing & Sales Representative headed by VP of the company Mr. Customer Markets:Company has a large customer market which will help them to grow rapidly like they have Consumer markets (individuals and households that buy goods and services for personal consumption) through website.

Macro Environmental Factors:E-Commerce Company affects by various macro environmental factors some are as follow1. 15 | P a g e . 2. they have presence in almost every state through online business. Also they are targeting international market. Cultural Environment:Today society is more knowledgeable and aware about eCommerce Company and their benefits. Demographic:Company have a good presence in different state in India which help them to cover a large consumer market.

And in current scenario many terminologies had been added to this service like of extended hours. Ltd. 16 | P a g e . But many companies adding and shutting down to this era frequently has put some question mark on its reliability.PROJECT PROPOSAL Project Title:“To Explore Business opportunities for Volume Based Model of MyDeals247. And it is a great challenge for the new entrants to prove their reliability and at the same time also attract more customers to their website.” Statement of the Problem:Today e-Commerce is the need for every consumer. digital marketing etc. especially Schools / Colleges category in Bangalore and its nearby area. But the main problem is that knowledge about these companies and their working in India is not up to mark. For the same reason MyDeals247 e-Commerce Pvt. started a new model for volume sales or offline business to increase the awareness among the people. and even there are many prospect buyers available in India who want to purchase but due to the lack of awareness among people the company is unable to approach them.

Objective of the Project:As the project was to explore business opportunities for volume based model especially schools/colleges category in Bangalore and nearby area. So it is the best selling period for any company that provides the above mentioned items. Along with it I was also having the responsibility to see how market react for this business model and where the acceptance of model is more. So this will help me in enhancing my skills on every aspect of sales . This will give me ample opportunity to understand how to find new and target market for certain type of products. 17 | P a g e . Laptops. Vendor Management etc.Lead Generation. Projectors etc. buying pattern / behavior of the customers. Quotation Making. Why this Project? There exists a high demand from Schools & Colleges for shoes. uniforms. which area of market will help them to improve target sales. stationery.

At the bottom of the funnel. Secondary research Secondary research such as data available on website about schools and colleges.Research Design & Methodology Research Design Used to Study Market potential:1. I use the metaphor of a funnel (wide at the top. narrow at the bottom) to monitor the sales process. At the top of the funnel I have "unqualified prospects" – the prospects who I think might need my product or service. Primary Research We used primary research such as finding requirements for schools and colleges by making appointments and making meetings with the Purchase Manager or Owner or Principal in Bangalore. We also use secondary data to make new clients. but to whom I never spoken. the strength of the students helped me to target new customer. Sales Funnel With the idea of the Sales Funnel. 2. I have people who had provided me the requirements and quotations for the same had been provided to them and now waiting for their approval so as to deliver the products. Methodology used to get prospect Buyers:1. We also used Snow Ball Sampling. 18 | P a g e .

Montessori 3. Trusts 5. School Chains such as Vibgyor High School And for colleges as:1. Kinder garden 2. Target Market:From the information analyses we got to know to whom we have to target and so we made different category or segments of schools as – 1. Universities 19 | P a g e . MBA colleges 2. There are a lot of negotiations going between the seller and the consumers. Acceptance of your proposal will only occur if we quote them the best competitive prices in the market. International Schools 4. Engineering colleges 3.Analysis of the information:From the data collected till now I understand that it is little bit difficult to penetrate in existing market. because consumer is very price sensitive.

Responsibilties Undertaken a) Creating awareness among the people about mydeals247 and its offerings To increase the traffic on our website. as most of the people who surf internet have their account in Facebook. understanding their requirements Here we also have to meet the client to understand their requirement. For Volume based model we will be targeting all schools including Montessori. Facebook has been our major tool. c) Meeting clients. deadline to deliver the order and also look after the most important part i. Because in Schools/ Colleges category maximum transactions are made on credit basis so likewise we have to process further. BBA and Engineering etc. and colleges include MBA. sharing eye catchy posts etc on Facebook to create awareness about Mydeals247.e. Day care. b) Looking for potential clients or generating leads for mydeals247 Mydeals247 maintains a database of its customers who can become its consumers. mode of payment. we will be creating awareness among the users through social media marketing. 20 | P a g e . We will be conducting online contest. kinder garden etc.

Zero Operating Cost” So. difficult task will be to include companies margin and that too such as after including companies profit it should not exceed market price. The prepared quotations are sent to clients. 21 | P a g e . “Zero Inventory. e) Preparing quotations for clients and at same time also preparing Purchase Order After getting the price from vendor. for single requirements we have to search many vendors and then finding the least price also keeping in mind what mode of payment is there with the client. negotiating and finding best price in market After getting the requirements. next task will be to find vendor that too the person giving lowest price.d) Searching vendors for the requirements. because company work on motto of “Providing Best Price in Market”.

Findings: More schools/colleges are bent towards our model due to competitive prices and more over we were one point solution provider.  Findings vendors was a difficult task and then negotiations were bit hectic. Difficulties Faced: Though the response was good from the clients but if the Schools/Colleges category was started form Jan then we would have got many more clients.  Language issue was also there during traveling to the client’s destination and many schools which we approached out of Bangalore.  Many a time credit issue was there with the clients as in schools and colleges many a times business is done on credit basis.  In colleges category MBA colleges were more inclined as they have more needs of Laptops/ Tabs. 22 | P a g e .  Kinder garden and Montessori were more inclined towards these models as they wanted to reduce costs.

 One time solution providers for every category in Offline business.SWOT Analysis Strength: Strong Business Model with ample experience of CEO in international market.  No inventory so no operating cost.  Faster buying procedure with direct negotiations with the suppliers.  24 x 7 Hours service with maximum purchase in extended hours.  Direct communication with the consumers and sellers.  Lower transaction costs.  Global location with their server in Singapore and USA.  Easily availability of products from the market with transport facility. 23 | P a g e .  Excellent database of users with thousands of them making login every day.  Cost effective with hundreds of vendors of any category in the market.

 Limited exposure.  Lesser reliability in market as new entrants.  No credit term trading due to which lost many consumers.  Some categories are still missing for online purchase. 24 | P a g e .  Limited man power.  Many broken link.  Lack of Organizational Structure.  Lower influence in outer regions of Karnataka.Weakness: Long Delivery Time to far away distances.  Hit and trail method are adopted for finding the leads.  Low Alaska and Google Page Ranking.

Opportunities: Global Expansion with new server recently launched in Singapore. law and regulations  Privacy concerns. Kolkata. 25 | P a g e .  High Availability ( 24 x 7 hours a week )  Cut down on local competition  Advertising model which is day today need for every merchant.  Heavy traffic can shut down the website.  Fraud  Changes in environment.  Can open chains/franchise in other metropolitan including Mumbai. Threats: Models can be easily copied by competitors.  Can start credit terms for volume based deals which attract many consumers.

targeting and positioning in marketing. 26 | P a g e .  Looking for potential clients or generating leads for mydeals247. negotiating and finding best price in market. Is based on following principles: Creating awareness among the people about mydeals247 and its offerings.OBJECTIVES Executive training at MyDeals247 e-Commerce Pvt.  Meeting clients and understanding their requirements.  Searching vendors for the requirements.  To work on the principles of segmentation .  Preparing quotations for clients and at the same time preparing Purchase Order as well. Ltd.

follow-ups. keeping morals high for yourself and others in a group.TASKS Following tasks were assigned by the company guide: Basically field work and direct marketing was to be done.  After that. so that we get a glimpse of a real life practical knowledge. fixing appointments with them.  A step wise approach is to be made on daily basis to approach the customer and makinng him a prospect out of the suspect. give presentations. working on their quotations from the vendors and most importantly a constant follow up with every one of them makes our task a solid one. 27 | P a g e . cold calling.conforming their requirements. handling their objective and queries forms part of this task process.  Cold canvassing.  Moreover the lead generation process along with their references is being crucially taken into consideration while forming our tasks lists for the week.  As working in a team and being a team leader.

5 months and 10 lacs for the team.  After that we made small weekly targets of at least 2 meeting for each person. 28 | P a g e . STRATEGIES For achieving this target of 2.TARGETS I was provided with the target of 3 lacs for 2. that person is eliminated from the queue of arranging the meetings and then he only focuses on closure of the deals.  As a team lead I distributed different category to different person with different area so that no overlapping occurs.5 lacs various strategies were made by me for eg: Actually our Company is a facility providers. So I differentiated the schools and colleges as mentioned above.  After getting the requirement. whatever is the bulk requirement is they provide that at best price in the market.

 On reaching customer .  After that to keep him /her engage in discussion I usaully give some live example to explain our business model.PROCESS For achieving the above said tasks I was constanly working on building new strategies: I started with making cold calls and arranging meetings with the customer and also tries to know that what they are looking for exactly.  After getting the vendors and understand their payment terms I usually transfer the same to clients adding some profit of the company.  When they are in situation to understand our model.  After getting approval about the quotations goods are delivered.  Then I proceed with giving brief overview of my company and our business model. Andra Pradesh. gathering information about the school and keep an foresight what requirements we can get from them.  After getting insight I agin do a pre sale preparation prior to meeting the client i. 29 | P a g e . I ask them for their requirements. I usually greet them very politely with a smile for giving their valuable time.e.  Then I get the deadline time also within which I have to send them the quotations and also discuss about the payment terms such as RTGS.  Then after coming back to office I search for the local vendors and also inform our another office situated in Nellore.

30 | P a g e . which recognize the big improvement within few years and expecting further developments with upcoming International schools. the future looks very “Promising” or very “Bright” for the company.Conclusion As the above discussion shows there is a potential market for schools and colleges category in Bangalore.

 Need to increase Alaska and Google page ranking to increase reliability among the customers.  Increase the reliability among the vendors so can get the credit and that credit terms can be passed to clients.Feb.Recomendations  Approach the clients for schools and colleges in starting months of the year like Jan.  Vendor’s database should be managed properly. 31 | P a g e .  Snowball sampling can help a lot in contacting the clients and making relationship.