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ECONOMICS PROJECT : Case Study On Self Employment

Presented By-

CREATIVE CREATURES

Sainandan Padwal Rhennon D·mello Chinmay Dantal Abhijeet Zaware Chandramohan Pasi

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INTRODUCTION
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Self-employment is working for one's self rather than for another person or company. It is earning one's livelihood directly from one's own trade or business rather than as an employee of another. To be self-employed, an individual is normally highly skilled in a trade or has a niche product or service for his or her local community. With the creation of the Internet, the ability for an individual to become self-employed has increased dramatically.

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Self-employed people can also be referred to as a person who works for himself/herself instead of an employer, but drawing income from a trade or business that they operate personally. To be self-employed is not the same as being a business owner: A business owner is not required to be hands-on with the day-to-day operations of his or her company, while a self-employed person has to utilize a very hands-on approach in order to survive. According the INDIAN Bureau of Labor Statistics, only 44% of businesses survive the first 4 years in business.

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TYPES OF SELF EMPLOYMENT
Entrepreneurs / Small business owners. y Home Business Owners. y Freelancers. y Independent Consultants. y Investors. y Partnerships. y Owner / President / CEO / Stockholders.
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Why People Choose Self Employment?
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We need not work for a boss or a company. So we have all the freedom to work on our own without anyone breathing over our necks. As a self employed person, one can choose the working hours according to his convenience. So there will be no monotony of 9 to 5 business. We can be very well contented that we work for ourselves and our benefits but not for some one else. This attitude boosts up our energy and we can work efficiently.

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We can feel more responsible as what ever consequences we face, are due to our merits and demerits.

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We need not face any office politics which generally frustrates an employee. We can work with our full potential as there will be no one commenting that we are working for an increment or the favor of the boss. We need not give any explanation to any one when we are not able to work due to illness or any other reason.

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There are more home based projects which can be opted as self employment. Hence we will be free of the tension of routine commuting. We need not be scared of the environmental pollution as our need to travel decreases a lot. We can spend more time with our family members as we can plan the work schedule according to our preference. There will not be any performance reviews, dead lines, conferences and no more stressful conditions.

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WADA PAV : THE LEADING SELF EMPLOYED BUSINESS

ON THE KARJAT RAILWAY STATION

AGENDA
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INTRODUCTION BUSINESS OPPURTUNITY INVESTMENT STRENGTH WEAKNESS OPPORTUNITY THREAT COMPETITION INDIRECT COMPETITION MARKETING MIX SEGMENTATION TARGET POSITIONING DIFFERENTIATION

INTRODUCTION

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Vada pav (Marathi: ), sometimes spelled wada pav, is a popular vegetarian fast food dish native to the Indian state of MAHARASHTRA. It consists of a batata vada sandwiched between two slices of a pav. The compound word batata vada refers In Marathi to a vada made out of batata, the latter referring to a potato. Both words batata and potato have their origin in Spanish patata. Pav refers to bread (or bun), the Marathi word having its origin in Portuguese pão

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VadaPav is the quintessential snack of a local Mumbai person (Mumbaikar). The cheapest and most easily available snack ² all railway stations and every ¶galli¶ or street would have at least a couple of vadapav stalls ² it·s imbibed in the food culture of the city

So, what exactly vada pav is«««.
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The vada is made from mashed potatoes seasoned by a tempering of mustard seeds, ginger, green chillies, curry leaves and turmeric. This potato mixture is then made into tiny balls, coated in a batter of gram flour and deep-fried until crisp, golden-yellow vadas are obtained.The aroma of the vadas being fried can never go unnoticed by anybody

Why only vada pav
Finger food - no plates, no spoons, no tables, no chairs. Mobile food ² walking, talking, standing, travelling, shopping. Universal appeal ² potato, wheat & spices. Food for the masses ² economic pricing, convenient fast food.

BUSINESS OPPORTUNITY
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In today's fast moving world importance of food like vada pav has increased. Everyone wants the fast food as they don·t have time and vada pav is the better option. And due to its taste it becomes favorite food of every one.

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´bhai ek wadpav dena" "Mitha chatani thoda jada dalna" " bhai.. fry kiyahua mirchi hai kyaµ
Are the common words among us. The vada pav is also known as ¶Garibon Ki Pav Bhaji·. Priced at Rs.3.00Rs.8.00. and every one can afford it.

Battered and fried spicy mashed potato balls. Taken at: Share bazaar, Mumbai, India Vadapav

Bindaas ² Jhakaas ² Timepass

Vada pav form a breakfast for many of the local people of Maharashtra. It is a snack sold nearly everywhere in Maharashtra.The snack is often served at breakfast and at tea time in many of the region's small eateries. On long distance trains, it is sometimes served as well. Many railway station is famed across India for the vada pavs available from vendors on the platforms y This is the business which require less investment and gives higher returns in small time. y This returns could be further invest for growth of business.
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INVESTMENT
Initial investment is less  Place  Machinery  Manpower  Raw material
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STRENGTH

WEAKNESS

OPPORTUNITY
EXPANSION OF BUSINESS VARIETY IN VADAPAV DEVELOPMENT OF NEW CUSTOMER DEVELOPMENT OF NEW PRODUCT START SELLING DRINKS (like cold drinks tea, coffee etc.)

THREAT

Competition

NEW PLAYER

INDIRECT COMPTITION

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MARKETING MIX ‡ PRODUCT
‡ PRICE ‡ PRMOTION ‡ PLACE ‡ PAKAGING

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PRODUCT
Core product- VADAPAV Product Variation:Variety in products y Chole vada pav y Vada usal y Cheese vada pav continuously innovation of products

PRIZE
The most important part of marketing mix y Price determines profit of the product
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Pricing decisions should take into account profit margins and the probable pricing response of competitors. Pricing includes not only the list price, but also discounts, financing, and other options such as leasing

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Special offer such as happy meal ,Value meal Combo meal

Prize for simple vadapav is 6 rupees. y For various types prizes varies accordingly e.g. for cheese vada pav prize is 10.00 rupees Or for shezwan vada pav its 20.00rupees
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PROMOTION
TRADITION ADVERTISING NON TRADITIONAL ADVERTISING MEDIA PLANNING PRINT MEDIA TELIVISION MEDIA RADIO MEDIA

INTERNET MEDIA

WORD OF MOUTH

HOADRING

PLACE
PRIME LOCATION EASILY ACCESSABLE HOME DELIVERY

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Fully owned outlets :- Directly selling from main shop Franchise owned outlets that does selling from different places Product should be available to the customer at the right place, at the right time and in the right quantity Offers hygienic environment good ambience and great service

PACKAGING
Packaging should be attractive y Should be hygienic y Should be simple to open y Durable
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Summary of marketing mix
Product
Functionality Appearance Quality Brand Service/ Support

Prize
List price Discounts Allowances

Promotion Place
Channel members Channel motivation Market coverage Locations Service levels Easily accessible Hygienic Home delivery

Packaging
Attractive Hygiene Simple Durable Clean

SEGMENTATION 

Demographically :1]Cater to kids 2] youth 3]Urban upper & Middle class families. 

Geographically :1]Mostly in urban towns and cities 2]Later to be open in 2 and 3 tiers cities 3]Mostly situated near station, malls, school, college, dependent franchises, commercial places like office areas etc. 

Psychographic:1]Place to sit comfortably and having some conversation 2]Place for Business

TARGETING POSITIONIG DIFFERENTATION
TARGET MATKETS
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Initial focus on Metros, Malls, Multiplex, stations & colleges, business town (like nariman point, BKC) Exposure to verity in vada pav. Target people is younger people. (office, college, school, worker.) All Income Groups.

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POSITIONING
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´Bindaas ² Jhakaas ² Timepassµ ´Quality hai to sirf « vada pav hai.µ ´You test it«. you love itµ

DIFFERENTATION
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Highlighting Brand, Food & Variety Quality Test

CONCLUSION
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In today's world everyone is in hurry and busy. No one is having time to even have food. Everyone is looking out for fast food. And vada pav is the best option for them as every one loves vada pav. If given good quality and hygiene vada pav can make good business

Bibliography
www.google.com y www.jumboking.com y Marketing management book by Philip Kotlar y www.scribe.com y www.goli.com
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Thank you