Submission for

Marksense - An innovative and strategic real-time marketing case study competition

 Industry Analysis Our Big Ideas

PRESENT STRATEGIES AND THEIR DRAWBACKS TOTAL MARKET

1. Limiting the travel experience to a single place:
The total market can be divided into three segments:
• In India, Company's operations are currently limited to a single location
1. Potential Entrepreneur: These entrepreneurs are individuals who
in Goa, India, hindering the potential for reaching a wider audience.
have an idea but are still unsure whether to take the leap into
• Expanding operations to Delhi and Bangalore can help connect with
entrepreneurship. According to a survey conducted by us, about 3%
startups and entrepreneurs, reaching a wider audience.
of people are in this segment.
2. Heavy Reliance on one marketing channel:
2. People in Early Stages Of Entrepreneurial Activities: They may
• Majority of the company’s educational tour participants come from a
have identified a business idea, begun to develop a business plan, or
single source- Engineering and B School competitions.
take other preliminary steps towards starting a business. According
• To ensure growth and expansion, the company must invest in its digital
to the news mentioned in point 5 in reference, about 11% of people
media presence. Gaining more reviews from past participants is a viable
belong to this segment.
starting point for establishing a positive reputation.
3. Nascent Entrepreneurs: These entrepreneurs who are actively
engaged in setting up a business they will own or co-own.
STRATEGIES TO SPEED UP COLLEGE Total population of India (2023) 1,41,71,95,630
COLLABRATIONS` Population of India Within the age of 15-25 [4] 25,63,27,706
% of Youth In India 18%
1. Offer Extra Incentives To Colleges:
Number of People involved in Early-Stage Entrepreneurial Activities 11%
• The company offers scholarships to winners and runners-up of college Total People in their Early Stage of Entrepreneurial Activities 2,81,96,048
festival events for ISET and NSET programs. A further incentive of a 2- % of Nascent Entrepreneurs 4%
month summer internship could be extended to interested students. Number of Nascent Entrepreneurs 1,02,53,108
% of Potential Entrepreneurs ( According to survey floated by us [7]) 3%
• This effort can establish a positive relationship with partnering colleges, Number of aspiring Entrepreneurs 76,89,831
allowing students to experience these two programs closely. Total Audience 4,61,38,987
2. Becoming a one-stop solution for Educational Tours:
The estimated market size for LWT's two products is approximately 4,61,38,97 individuals.
• After receiving an inquiry, the team should act as a one-stop solution These figures are subject to change, as the Indian government's introduction of initiatives
provider, offering end-to-end trip planning services, including itinerary such as Startup India has significantly boosted the startup ecosystem, leading to potential
creation, travel bookings, and visa application assistance. growth in the market size. Please refer to reference point 6 for detailed calculations.
 Industry Analysis
TARGETING AUDIENCE DIFFERENTLY
• Partner with Incubation Centres Across B Schools and Engineering
colleges: This approach not only enables the company to tap into a pool
of serious and aspiring entrepreneurs but also allows us to do so in a cost-
effective manner. With nearly 60% of incubators being housed within
educational institutions in India [2], the association with these centers
would provide the company with a unique opportunity to engage with
students on a daily basis. This, in turn, would not only help the company
to establish a strong brand presence but also help them to identify the
Ambivalent Entrepreneurs at an early stage, help them in their endeavors
and gradually increase the market share.
• Start an annual 2-3 days summit in New Delhi, Maharashtra, Tamil
Nadu and West Bengal: As per a recent report, recognized startups in
India have grown from 471 in 2016 to 72,993 in June 2022 [3], with a
significant number of them being located in these three states[1]. By
organizing an event of this scale, the company can provide a platform for
participants to learn from keynote speakers
and network with other stakeholders in the
industry. Additionally, the LWT can showcase
the products and services, generating business
leads and contributing to a steady rise in
revenue and market share. The proposed
summit can also help us gain the attention of
the government, which can increase long-term credibility and growth.
Our Big Ideas
NEW FEATURES
• Addition of “Find My Co-Founder” Feature: This feature will
provide a distinct advantage to both LWT and entrepreneurs alike. It
will provide a unique value proposition and an additional revenue
stream for the company. For our target audience, it will be a time-
saving and energy-efficient way to connect with other entrepreneurs
and expand their businesses. LWT’s platform would match users
with compatible co-founders based on similar interests, skills, and
goals. Ultimately, the "Find My Co-Founder" feature can help LWT
grow and establish itself as a valuable resource for entrepreneurs
looking to start or expand their businesses.
• New program to engage the entrepreneurial spirits of the
students in School: With India's new National Education Policy
emphasizing the promotion of self-employment, there is an
opportunity for LWP to become a one-stop solution for schools in
promoting entrepreneurship among students. By collaborating with
schools, LWP can create customized educational plans that integrate
entrepreneurship education. Additionally, LWP can organize guest
lectures by successful entrepreneurs to inspire and motivate
interested students to pursue entrepreneurship as a career. This will
not only help students develop their entrepreneurial skills but also
strengthen LWP's partnership with schools, creating a new revenue
stream for the company.
 REFERENCES
Thank You
1. https://finshots.in/infographic/state-wise-startups-in-india/
2. chromeextension://efaidnbmnnnibpcajpcglclefindmkaj/https://eduvisors.com/
dwnld_assets/PDF/Ideas_Insights_-_Incubation_in_India_(Jun2021).pdf
3. https://timesofindia.indiatimes.com/india/number-of-startups-in-india-grows-to-7299
3-in-2022-from-471-in-2016/articleshow/93077040.cms
4. https://www.populationpyramid.net/india/2021/
5. https://www.cnbctv18.com/market/data/only-5-of-adult-indian-population-successful
ly-establish-own-business-says-gem-india-report-3985.htm
6. https://iimv1-my.sharepoint.com/:x:/g/personal/vikram_tomar22-01_iimv_ac_in/EZa
5fyU3L11IlL2exuA6i30BcPABARxXbZpMZ8GNgCrB7g?e=eAcc5d
7. https://forms.gle/WQnimYpPi8iRgSgy7 (Survey Questionnaire )