Professional Documents
Culture Documents
TARGET MARKET:
Potential customers would be SEC As and Bs in
Karachi.
This includes people with high disposable incomes
who dine out two to three times a week
Travel frequently and regularly visit spas, salons
and gyms.
Pricing:
The price was set at Rs 1,999.
The only way the brand can succeed is if each of
the three stakeholders, i.e. the Bogo team, the
brand partners and the customers all benefit.
Every single voucher in the book will be save
approximately Rs 400,000 in a year.
For Bogo’s brand partners, the incentive was
increased product and service trial, greater market
penetration and customer acquisition.
Additionally, a special tracking mechanism allows
the brand partners to determine what percentage
of their increase in business comes via Bogo.
For Bogo itself, the revenue generation is primarily
through the sale of each book.
According to Khoja, “to ensure Bogo’s integrity,
we do not charge our business partners a fee to be
a part of our book, their only commitment is to
honour the vouchers when they are presented.”
Promotion:
Bogo started with a digital teaser campaign in
December, followed by a product launch activity
conceived, whereby the book was sent as a
complimentary gift to the corporate
communications and marketing departments of
selected organisations, celebrities, bloggers and
social personalities who have the ability to shape
trends.
In addition to the BTL initiatives,social media
contest in partnership with Radio1 FM91, whereby
the person who redeemed the highest number of
vouchers won two premium passes to the Pakistan
Super League Final inclusive of two return tickets.
There are also ongoing promotional offers giving
people the chance to win free gifts when they
place an order with Bogo.
The only mass advertising strategy they deployed
was an outdoor campaign with 10 billboards across
Karachi.
The reason why the brand stayed away from
conventional print and TV advertising was the fact
that in addition to the cost, there would have been
a lot of wastage.
Tellis says that “on-ground and digital activities
allow us to reach our target audience in an
extremely cost-effective manner.”
Another reason for staying away from the print and
TV was the fact that both mediums carry a lot of
advertising from the competitors.
In other words, banks offer credit cards to their
high net-worth customers (the same people Bogo
is targeting) and charge a nominal fee for the card
or none at all and customers receive substantial
discounts at almost no additional cost.
Distribution:
To enable customers access to the book in less
than 48 hours (lag time between order and
delivery)
The latter has been addressed to a certain extent
by making Bogo books available at Agha’s
Supermarket and Springs Mart.
Profits:
Number of books we print for a given edition has to
be enough to allow us to generate a profit, satisfy
customers and ensure our brand partners have the
capacity to cater to the number of vouchers that
are printed.