Marketing Strategy of Myntra (Uday)
Marketing Strategy of Myntra (Uday)
Marketing Strategy of Myntra (Uday)
On
Submitted By:
Name: UDAYA KUMAR MANDAL
Roll No: 06
Registration no: P111906
PGDM [2019-2021]
Plot No- 346, 2725, Infocity Ave, Sishu Vihar, Patia, Bhubaneswar, Odisha 751024
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Declaration
I am Udaya Kumar Mandal a Bonafede student of Astral
Institute of Management Studies, pursuing PGDM, do hereby
declare that the study entitled “A study on Marketing Strategy
of Myantra.com” is my authentic work, I have completed my
study under the guidance of Nirajna Das, Astral Institute of
Management Studies, Bhubaneswar. All the data furnished in
this project report are authentic and genuine and this report
neither full nor in part has ever been submitted for award of
any other degree.
PGDM (2019-2021)
Collage Roll No. – 06
Registration No: p111906
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INTERNAL GUIDE CERTIFICATE
Signature
Nirajana Das
Dt:
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CONTENTS
CHAPTER-1
➢ INTRODUCTION
➢ OBJECTIVE OF THE STUDY
➢ SCOPE OF THE STUDY
➢ METHODOLOGY OF THE STUDY
➢ RATIONLE OF THE STUDY
CHAPTER-2
➢ COMPANY PROFIE
CHAPTER-3
➢ THE0RITICAL BACKGROUND
CHAPTER-4
➢ FINDINGS
➢ SUGGESTION
➢ CONCLUSION
➢ BIBLIOGRAPHY
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CHAPTER -1
INTRODUCTION
Myntra is a one stop shop for all your fashion and lifestyle
needs. Being India's largest e-commerce store for fashion and
lifestyle products, Myntra aims at providing a hassle free and
enjoyable shopping experience to shoppers across the country with
the widest range of brands and products on its portal. The brand is
making a conscious effort to bring the power of fashion to
shoppers with an array of the latest and trendiest products available
in the country.
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Myntra.com is ranked among the top 10 e-commerce companies in
India. In the last 3 years, Myntra has become the most popular
destination for personalized products in the country. Myntra.com is
into the e-commerce (online shopping) business. It is an online
retailer of fashion and lifestyle products in India. It began its
operations in the B2B (business to business) segment with the
personalization of gifts, which included: - clothing, footwear,
cosmetics in 2010, the company shifted its strategy to becoming a
B2C (business to customer) oriented firm, expanding its catalogue
to fashion and lifestyle products. Myntra.com is ranked among the
top 10 e-commerce companies in India. In the last 3 years, Myntra
has become the most popular destination for personalized products
in the country. • Myntra pioneered the personalization of sports
jerseys and offered sports jerseys of several cricket and football
teams such as Team India, IPL & FIFA. These jerseys could be
personalized with a name and number of the customer’s choice.
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displayed on the publisher's content. Other potential participants
include advertising agencies that help generate and place the ad
copy, an ad server which technologically delivers the ad and tracks
statistics, and advertising affiliates who do independent
promotional work for the advertiser.
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SCOPE OF THE STUDY
Finding out the strengths and weakness of the Myntra. COM
• Finding the number of future purchases
• Finding the customer satisfaction and their means of awareness
of Myntra.com
• Finding the position among the competitors
• Finding out the perception of the customers about Myntra.com
• The main target is stronger supply chain and aggressive
acquisitions.
The data used for the present research work is secondary data.
The data were collected from the official website of Myntra and
another website. The relevant literature was gleaned from
books, website and magazines.
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CHAPTER -2
COMPANY PROFILE
Company Name: Myntra
Founder – Mr. Mukesh Bansal
Myntra is an Indian fashion e-commerce marketplace company
headquartered in Bengaluru, Karnataka, India. The company was
founded in 2007 with a focus on personalization of gift items. By
2010, Myntra shifted its focus to the online retailing of branded
apparel. In May 2014, Myntra.com acquired by Flipkart to
compete against Amazon which entered the Indian market in June
2013 and other established offline retailers like Future Group,
Aditya Birla Group and Reliance Retail. Established by Mukesh
Bansal along with Ashutosh Lawania and Vineet Saxena, Myntra
was in the business of on-demand personalization of gift items. It
mainly operated on the B2B (business-to-business) model during
its initial years. Myntra tied up with various popular brands to
retail a wide range of latest merchandise from these brands
HISTORY OF MYNTRA
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gift items. It basically worked on the B2B model amid its
introductory years. By 2010, Myntra moved its center to the web
retailing of branded clothing. Somewhere around 2007 and 2010,
the online entrance permitted clients to customize items, for
example, T-shirts, mugs, mouse cushions, timetables, watches,
teddy bears, pendants and so forth. After just 3 years, Myntra
turned into India's biggest personalization stage with more than
half of the market share. In 2011, Myntra extended its index to
incorporate style and way of life items and moved far from
personalization. Myntra tied up with different well-known brands
to distribute an extensive variety of most recent stock from these
brands. Myntra offered items from 350 Indian and International
brands by 2012. Myntra likewise had easygoing wear for men and
ladies. The site saw the dispatch of Fastrack watches and of Being
Human, the brand. In May 2014, Myntra.com converged with
Flipkart to contend with Amazon which entered the Indian market
in June 2013 and other established offline retailers like Future
Group, Aditya Birla Group and Reliance Retail .In 2014, Myntra's
portfolio included around 1, 50,000 results of more than 1000
brands extending from worldwide brands to designer brands and
diffusion zone of around 9000 pin codes in India.
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however that didn’t essentially imply that desktop traffic had
declined. So, while mobile activity may have been developing
really fast, it was quite possible that desktop traffic had
additionally stayed stable if not expanding. The other real reason
that Myntra decided to clarify the move was the potential for the
cell phone to offer a more customized affair for the customer.
Value proposition
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Organizational structure
Product portfolio
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Leading fashion and lifestyle brands came together under one roof
to discuss the future of fashion commerce in India. The theme of
the Summit, ‘Leveraging Technology to Build the Future Platform
for Fashion’, brought together over 450 leading fashion and
lifestyle brands to discuss the future of fashion commerce in India:
Innovation, Trends and the Role of Technology in driving the
same.
Mukesh Bansal addressed key issues that will define fashion in
times to come. Besides the mobile device which will enable
fashion portals to address the unique needs of each customer, Big
Data will also play a big role in enhancing the fashion experience
through image sensing, demand predictions, and analytics-based
recommendations. Bansal also spoke about social commerce,
namely making online fashion a more social phenomenon and the
launch of the Myntra App Version 2.0.
USP of Myntra.com
- User Experience (UI & Customer Support)
Original Products (WS Retail)
Genuine Feedback & Rating
Exchange Policy....
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SWOC Analysis
Strength: -
• Serving markets through internet requires less infrastructure
setup.
• Fast delivery at low cost from dedicated warehouses.
• Having a sound infrastructure funded by venture capitalists
which is sufficient to
• reach out any part of the country.
• Dedicated client services through back end services by
deploying 24 hrs. call center.
Weakness: -
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Opportunities: -
Challenges: -
• Unable to handle the increase in the volume of call traffic
• Mass reach-out was becoming difficult due to technical
glitches
• Low business productivity
• Deteriorating levels of customer satisfaction
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Chapter-3
Theoretical Background
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over 20,000 Team India jerseys. Myntra delivers within 48 hours
on average, but it had reduced it to less than 24 hours with a strong
warehouse and a smoother supply chain.
Revenue
Myntra is an aggregator of many brands. Its business model is
based on procuring current season merchandise from various
brands and making them available on the portal at the same time as
the retail stores. All these products are offered to customers on
MRP. It is a Business to Customer (B2C) revenue model.
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• Rigorous hiring and evaluation criterion for employees and
delivery agents with high delivery experience.
Offering great deals, exclusive sale offers for the day, coupons
etc., which enables customer ends up buying the product at Myntra
when finds product at reasonable rates.
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Let us start the Myntra Marketing Mix & Strategy:
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“Convenient shopping experience at an affordable price”. Myntra
also collaborates with celebrities to come up with fashion labels
inspired by them, for e.g. Deepika Padukone’s All About You in
women ethnic and western wear and Hritik Roshan’s HRX in
sportswear.
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Myntra Place & Distribution Strategy:
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traditional channels in a creative and effective way. On digital
front, the company is leaving no stone unturned and uses latest
technologies like AdSense to give customized marketing to the
consumer. Social media platforms like Facebook, Instagram,
Pinterest and Twitter play a very vital role in Myntra’s promotion
strategies. The importance of social media in Myntra’s marketing
strategy is reflected by the fact that it joined Facebook in back in
2007 when it was founded and has more than millions of followers
now. Apart from this, the company also keeps launching various
promotional offers regularly on its website. Customers are sent
promotional emails and notified through customized in-app
notifications about the exclusive offers they can avail on Myntra.
Since this is a service marketing brand, here are the other three
Ps to make it the 7Ps marketing mix of Myntra.
People:
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promise of excellent and on-time service to its customers. Myntra
is a young company which is in growing phase, therefore talent
retention and acquisition is a major challenge for it. Myntra clearly
states its employment policies on website and looks for high
achieving individuals with passion, energy and drive to learn and
excel. It follows fun at work philosophy and tries to make the work
environment exciting for employees. Myntra has also won
Trendsetting Workplace Award for its high-end mall like
workplace having live video ramps, gaming zones, comic con and
much more. It also gives highly competitive pay package to its
employees in order to decrease attrition rate and retain talent.
Physical Evidence:
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Myntra is approximately 20%. This shows that the return
procedures are so easy and trustworthy that even after returning,
almost all the customers come back to shop on Myntra.
Process:
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Social Media Strategy
Platform-wise Strategy
And the lower the engagement, the lower the reach. So, in effect,
they will be lowering the reach of their self-promotional updates as
well.
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Pinterest
They are building a fairly good community here and it will hugely
popular as Pinterest keeps on gaining ground.
Google Plus
YouTube
The YouTube channel was created a year ago but there is not
enough content to be found here. There are some TVCs and some
other self-promotional (again!) videos.
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For a brand that deals with fashion, they could have added so
much fashion-based video content. Not only their target audience
would have loved that, it would have helped Myntra in
establishing its authority in a far more effective way.
Blog
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So, what if Jabong doesn’t even have half of Myntra’s fans? Its
effective content strategy has ensured a highly engaging
community.
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ADVERTISEMENTS –
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Myntra came up with Television commercial lately which is
Above-The-Line advertising. The first TVC ad was created by
Taproot India with the theme “Real life mein aisa hota hai kya?”
highlighting the various benefits of online shopping like free home
delivery, cash on delivery and 30-day return policy. Myntra also
unfurled OOH (out of home) campaign to build awareness.
.1 Cost
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2 Measurability
3 Formatting
4 Targeting
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preferences. Advertisers can also track whether a visitor has
already seen a particular ad in order to reduce unwanted repetitious
exposures and provide adequate time gaps between exposures.
5 Speed
6 Coverage
.8 Tracking
Marketers can track how users interact with their brand and earn
what is of interest to their current customs and prospective.
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PROMOTIONS
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• The promotion codes have been made to lure customers
through discounts and coupons.
• From online to Tele: With increasing cash flows and IPO
funds, Myntra came up with Tele Vision Commercials and
also, they are doing viral advertising by outdoor
campaigning, e-mails, hoarding placement and cross
campaigning.
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• In 2012, it recorded to offer fashion elements from 350 brands,
from India and was the first to get International brands on a
large scale.
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Marketing Strategy of Myntra that brought them Immense
Success
• Logistics had remained the key success area for Myntra too.
They expanded fast to cover around 9000 Pin codes in India
and thus created a sensation to its competitors. The distance
between physical buying and buying from an e-commerce
platform can be shortened with a highly nurtured logistics.
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• Myntra ensured the same to retain its supremacy in the Fashion
world of India.
PRODUCTS
Myntra has tied up with top fashion and lifestyle brands in India,
such as Nike, Reebok, Puma, Adidas, Lee, Converse, Lotto, FIFA,
John Miller, Indigo Nation etc.
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There are also casual and dressy footwear for women from
Catwalk, Carlton London and Red Tape to name a few.
WHAT IS E-BUSINESS
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The transaction crosses enterprise boundaries either between two
businesses(B2B) or between a business and a consumer (B2C).
Producer/Consumer Transaction
ERP SYSTEM
ERP- ENTERPRISE
RESOURSE
PLANNING SYSTEM
FRM- FINANACE
RESOURCE
MANAGEMENT
SCM- SUPPLY CHAIN
MANGEMENT HRM-
HUMAN RESOURCE
MANAGEMENT
CRM-CUSTOMER RELATIONSHIP MANAGEMENT
MRP-MANUFACTURING RESOURCE PLANNING
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which is shown in the figure traditionally a system, must integrate
three of the following core modules to belong to the ERP group;
manufacturing, distribution ,finance, and human resources. At the
heart of the ERP systems in the central database that draws from
and feeds it into a series of application supporting diverse
company function. Using a single database streamlines the flow of
information throughout the business.
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OLC:
Right now, Myntra is in the 2nd-3rd stage. Reason being the
processes are still in progress. The Process Improvement Process is
being implemented. For e.g. Myntra recently bought Fitiquette, a
developer of virtual fitting room technology and a TC Disrupt
finalist from Sep 2012. It intends to use Fitiquette’s core product
on its retail site to drive more fashion purchases online. Moreover,
acquisition is in full swing. There have been 2 recent acquisitions
by Myntra- The first one in November 2012 when it acquired New
York based Exclusively.in which has the private label vertical,
Sher Singh. The most recent being Fitiquette- a virtual fitting
room.
Figure -OLC
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SWOT ANALYSIS
Strengths:
Weakness:
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Opportunities:
Threats
• Increased Competition
• Government Regulations.
• Technology Breakdown, Hacking.
• Relationship with 3rd party logistics company
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CHAPTER -4
below 18 15 30
18-30 years 13 26
30-49 years 12 24
above 50 years 10 20
Total 50 100
120
100
80
60 no of respondents
40 percentage
20
0
below 18 18-30 years 30-49 years above 50 total
years
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Interpretation: From the above graph it is shown those
30% respondents are below 18, 26% are 18 and 30, 24%
are 30-49, 20% above 50 years. It means the majority of
people is below 18 years.
Table No. 2:
Educational no of
background respondent percentage
non-
matriculate 4 8
matriculate 11 22
graduation 24 48
post
graduated 11 22
total 50 100
45
100
80
60
40
no of respondent
20
percentage
0 percentage
no of respondent
46
Table No. 3:
Business 9 18
Service 11 22
Student 23 46
Others 7 14
Total 50 100
100
80
60
40
no of respondents
20
percentage
0 percentage
no of respondents
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Interpretation: From the above graph it is clear that 18%
respondents are businessman, 22% are service, 46% are
student, and 14% are others than them. It means majority of
respondents are students
Table No. 4:
no of
Gender respondents percentage
Male 14 28
Female 36 72
Total 50 100
48
100
90
80
70
60
no of respondents
50
percentage
40
30
20
10
0
male female total
Table- 5.
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Interpretation:
Table -6
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Interpretation:
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CHAPTER -5
FINDINGS
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• It is understood from the table, that majority of the
respondents (48%) are spending less than two hours per
day to access Internet.
SUGGESTION
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• Internet environment has to be improved in the areas of art,
dynamic and interactive techniques. This improvement will
give more visual appeal.
• The vendors and service providers should avoid hidden
charges. This will help to avoid increase in price of product.
CONCLUSION
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make them realize that well-knitted strategy and flexibility in
approach can easily transform a company to Monopoly
corporations may upsurge their profits further and users may find
the desired product or service easily without stress of shopping
around. Customers keep coming back only if earlier shopping
experiences have been pleasant and successful. In this intricate
business world, the e-retailing will become tremendous business
strategic concept. Most profitable method of business process in
coming decade to the textile and garment industries
BIBLIOGRAPHY
Book & Author
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• Kotler Philip, Keller and Kevin Lane, Marketing
Management (14th edition), (2000) Pearson Education, Inc.
• Seth Jagadeesh N and Atul Parvatiyar, Customer
relationship Management, (2004), Saga publication Inc.
Newspaper
• Times of India
• India Today
• Business India
Website
• http://www.myntra.com/
• http://retail.economictimes.indiatimes.com/news/e-
tailing/myntra-explains-itsone-hour-delivery-management-for-
some-e-commerce-purchases/21950837
• http://www.mxmindia.com/2012/07/well-continue-focus-on-
customer-delightsays-myntras-bansal/
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