ENTREPRENEURSHIP ASSIGNMENT

Aishwarya Sarda
2013001 - MBA-DEM

Go-To-Market strategy for murtle.in

"How do we get our products sold"

 
As murtle is in the business of modular footwear, the following strategies can be looked
upon to sell the products. The idea is to target a set of customers that lie in the
demographics of 18-45 with an interest in fashion and a social and a digital presence. As
such customers appreciate innovative ideas and are influenced when they find one, these
remain our target group. Early adopters with such limited resources need to be found using
such techniques as:

1. Partnering with local footwear markets:

Murtle can work with local businesses in order to promote the modular style
on a traditional buying method. A sizeable chunk of the general population still
prefers offline shopping and with their eye-catching designs, they stand out easily.
The shop owners can be structured on the incentive-based channel sales that does
not require any upfront fee. Additionally, tying up with brand aggregators such as
Centro and Reliance Footprint would help reach a nationwide audience. Of-course,
this would be on a minimum business guarantee or basket size commission model.

2. Brand Promotion via fashion exhibitions and flea markets:

Products can be displayed and sold at flea markets. These markets have a
very minimal stall set-up fee and attract customers who are artistic and fashion
oriented. This will help the brand grow both in terms of popularity and sales. Local
exhibitions are a great way to connect with a larger crowd and increase product
outreach.

3. Listings on e-commerce sites

Increased reachability via e-commerce would help drive sales. Listings on

Amazon, Flipkart, Myntra etc ensures the customers are being targeted and their
shopping behavior can be analyzed. The usage of customer analytics would help
study behavior patterns and drive sales further using clustering or classification
algorithms.

4. Government incentives:

Government platforms to promote Make in India and Vocal for Local schemes
can be incorporated in the current times. With a huge manufacturing potential
shifting towards India, public sentiments towards Indian products shall grow and this
shall act as an effective marketing tool.
5. Word of Mouth:

Word of mouth is the cheapest and the most effective way to promote a
product. A user’s experience can be circulated in their social circles which ensures
trust in the product and this way sales can be locally increased.

6. Search Engine Optimization and Ad-Sense

Using Targeted and Digital Marketing strategies, customers can be acquired

via platforms such as Google where a simple keyword search would match our listing
and bring the website on top results page. This can be an effective way considering
limited resources to reach a wider audience by implementing Cost per thousand
impression or cost per click models.

7. College student partnerships

A highly effective method is the usage of influencers and trendsetters. By

creating people-specific promo codes, advertising of the product via social citizens
ensures visibility. For example, if a person who has 20K followers on Instagram, they
can be given a promo-code such as “reh-20” which ensures the customers buying
from this page a 20% off. A relative commission can be given to these influencers to
promote the product and kick start a digital sale.

8. Creative Marketing:

In addition to the aforementioned digital and physical channels of sales,

creative marketing needs to be employed. A tagline such as “create your own shoe in
10 min” or “your design on your shoe” etc ensure an instant connect. These could be
further elaborated based on “express your mood via your strap” sort of campaigns.
Such campaigns trend and turn viral potentially incorporating hundreds of
customers.

In addition to the above, it is imperative that a brand value is created and

customer centricity is maintained. A relative service option in case of strap breakage,
sole tears etc should be proactively handled to maintain customer trust and loyalty.
The CEO needs to take pride in his efforts and join business clubs such as BNI or U4B
that help increase businesses.