marketing strategy of bikroy.com for creating competitive advantage
TRANSCRIPT
A Thesis Report
On
“An Analysis of Marketing strategy for creating competitive advantage- A
case study on Bikroy.com”
Submitted to:
Md. Nazmul Hossain
Assistant Professor
Department of Marketing
University of Dhaka
Submitted by:
Mobarak Hossain
B.B.A (17th Batch)
Roll No: 117, Sec: A
Department of Marketing
University of Dhaka
Bikroy.com
Date of Submission: 27 February, 2014
23th March, 2015
Md. Nazmul Hossain
Assistant Professor,
Department of Marketing
University of Dhaka
Subject: Prayer for submission of the thesis report
Dear Sir,
With due respect & honor, I want submit to accomplish A Thesis Report on “Marketing
strategies of Bikroy.com for creating competitive advantage in the market”. I tried to
implement the relevant knowledge that I have learnt from different courses. I wanted to find
out the impact of marketing strategies of online marketing specially Bikroy.com & the
strategy help them to create competitive benefit in the market. The success rate of online
campaign provided by the Bikroy.com and how’s it motivate the consumers to make
purchase. There are some competitors who are doing business in Bangladesh but i am going
to focus on marketing strategy and its impact on creating competitive advantage in the
market.
I give my sincere effort to accomplish the report. I also tried my level best to provide more
information to clarify any query, if needed. I hope you will accept the thesis proposal and will
give me a chance to work in this field.
Sincerely
………………….
Mobarak Hossain
B.B.A (17th Batch)
Roll No: 117, Sec: A
Department of Marketing
University of Dhaka.
Letter of Transmittal
This is to certify that Mobarak Hossain, Roll No: 117 of BBA-17th batch is a regular student of
the Department of Marketing, Faculty of business studies, University of Dhaka.
He has successfully completed his research project and prepared this project paper on “Analysis
of Marketing strategies of Bikroy.com for creating competitive advantage in the
market”. This research was conducted to fulfill the requirements of BBA Program associated
with Department of Marketing, University of Dhaka.
The Report has been prepared under my guidance and is a record of bona-fide work carried out
successfully.
I wish his every success in life
Md.Nazmul Hossain
………………………
Assistant Professor
Department of Marketing
University of Dhaka.
Letter of Acceptance
I hereby declare that this Thesis is my own original work and is the result of my own
investigations and experiments. To the best of my knowledge, no part of this dissertation has
been published previously or written by another person nor it has not been submitted
anywhere for the award of any degree.
No part of this Report has been previously submitted to any other University/College/
Institutions/ Organization for any academic certificate/degree/diploma/qualification. The
work I have presented does not breach any existing copyright and no portion of this report is
copied from any work done earlier for a degree or otherwise.
This research was conducted to fulfill the requirements of BBA Program associated with
Department of Marketing, University of Dhaka.
Mobarak Hossain
………………………..
Roll -117, Section- A
Batch- BBA 17th (2010-2011)
Department of Marketing
University of Dhaka
Declaration
At the very beginning I would like to express my deepest gratitude to the almighty Allah for
giving me the strength and the composure to finish the task within the scheduled time. Thesis
report is an essential part of BBA program as one can gather practical knowledge within the
period of three months by observing the activities of the organization. I have done thesis
report on ‘Marketing strategy of Bikroy.com for creating competitive advantage in the
market’. At first I express my gratitude and indebtedness to my respected teacher and Thesis
supervisor Md. Nazmul Hossain for his constant guidance, valuable advice, encouragement
and suggestions during the thesis period.
I would like to thank a bunch of people who helped me a lot in completion of my dissertation
like:
All respondents for filling in the questionnaires and co-operative
My family for constant support and motivation for doing this tasks
My friends who helped me to accomplish this task
I would also like to take this opportunity to give thanks to my family without, whose
continuous support from the background it would not have been possible to come so far in the
university life and complete my thesis paper.
Acknowledgement
Bikroy.com is a website where you can buy and sell almost everything. The best deals are
often done with people who live in your own city or on your own street, so on Bikroy.com it's
easy to buy and sell locally. Bikroy.com has the widest selection of popular second hand
items all over Bangladesh, which makes it easy to find exactly what you are looking for. So if
you're looking for a car, mobile phone, house, computer or maybe a pet, you will find the best
deal on Bikroy.com. Bikroy.com does not specialize in any specific category - here you can
buy and sell items in more than 30 different categories. We also carefully review all ads that
are being published, to make sure the quality is up to our standard.
The main objective of this study is to analyze the effectiveness of the marketing strategy of
Bikroy.com to create competitive advantage in the market. The study will help us to know the
benefits of marketing strategy and how the organization creates competitive advantage. The
effective marketing strategy helps organization to create more emphasis on products or
services. The detail study helped us to know the impact of marketing strategy for any product
or service and how it can differentiate itself from other competitors. The analysis of
marketing strategy helped us to know the Bikroy.com recent marketing campaign and how
it’s accepted to the mass consumers. We can know details on how to segment the market and
position in the target market. Whereas, by using 4 Ps of marketing mix, we can find out about
the product, its price, promotions and placement procedures.
We examined some terms like customer relationship management, pricing strategy,
promotional tools and its effectiveness, branding, marketing communication etc. Which help
us to analyze the overall marketing strategies of Bikroy.com. As it’s the online buying and
selling place for the marketers, we conducted a survey to know the present condition of it’s in
the market. The main task which made itself market conglomerate in online selling industry
is its unique name, promotional tools used by the organization, specially online promotion,
TV advertising, Newspaper advertising etc. The promotional tools and the brand name of
Bikroy.com which has similarity like selling product that’s why the name is recalled by the
consumers. Here the word of mouth also works better and online promotional tools like
Executive summary
Facebook, Twitter, LinkedIn, Yahoo, Gmail etc. played crucial role in promoting the product
in the market. It has multiple products offerings to the consumers like Mobile Phones,
Cameras & Camcorders ,Mobile Phone Accessories ,Other Electronics etc.
Bikroy.com has been doing well in their marketing strategies by which they are targeting the
final consumers and reach them as soon as possible. The integrated marketing planning is one
of the most vital tools for Bikroy.com. Here the marketers use different promotional tools like
TV ads, Radio Ads, Mobile marketing, Search engine optimization, digital and analog
billboard, Newspaper ads, content developing, email marketing, viral marketing etc. strategy
to capture the market. Basically the brand building process is too critical for the organization
and that’s why organization needed to invest lots of time and money in the market.
Bikroy.com has started its journey in 2012 and very shortest possible time it has become the
largest online seller in our country. Though it has some competitors in the market but
Bikroy.com is doing well for its competitive benefit like promotion, ease of access, price and
strong innovation in service delivery. For this reason it has made its distinctive benefit in the
competitive market.
Rapidly the online users are increasing and the promotional online campaign has to be
developed and bring innovation in every sector. Then it will be able to fulfill the demand of
the consumers and the competitive advantage will be sustainable in the market. After all it’s
become a brand which requires continuous innovation and strong CRM policy to know their
needs and demands.
Finally, Bikroy.com created competitive benefit in the market which was for having strong
marketing promotion and other external strategy which co-operate the marketing too.
Table of ContentsCHAPTER-1: INTRODUCTION..............................................................................................7
1.1 Title...................................................................................................................................7
1.2 Background.......................................................................................................................8
1.3 Research rational..............................................................................................................9
Scope.................................................................................................................................10
Source and method of data collection...............................................................................10
1.4 Research aims.................................................................................................................11
Research objectives:.........................................................................................................11
Research questions............................................................................................................11
Research Hypotheses........................................................................................................11
1.5 Research limitations.......................................................................................................12
CHAPTER 2: LITERATURE REVIEW.................................................................................13
2.1 Preface............................................................................................................................13
2.2 SWOT analysis of Bikroy.com.......................................................................................14
1. Strength......................................................................................................................15
2. Weakness...................................................................................................................15
3. Opportunities.............................................................................................................15
4. Threats.......................................................................................................................16
2.3 Present Status and Critical Success factor of online business in Bangladesh................16
2.4 Marketing strategies.......................................................................................................17
Topic 1: Marketing mix....................................................................................................18
Topic 2: Branding.............................................................................................................20
Topic 3: Consumer behavior.............................................................................................20
Topic 4: Customer relationship management...................................................................21
Topic 5: Marketing communication.................................................................................22
Topic 6: Supply chain management..................................................................................23
Topic 7: Marketing and experiential marketing...............................................................23
2.3 STP process of Bikroy.com............................................................................................24
2.4 Marketing strategy and competitive benefit...................................................................27
2.5 Consumer experience and competitive benefit...............................................................28
CHAPTER 3: METHODOLOGY...........................................................................................30
3.1 Research paradigm.........................................................................................................30
3.2 Data collection method...................................................................................................30
1. Primary data...............................................................................................................30
2. Secondary data...........................................................................................................31
3.3 Data analysis method......................................................................................................31
3.4 Population and sampling................................................................................................32
3.5 Questionnaire design......................................................................................................33
3.6 Research method limitations..........................................................................................34
3.7 Ethical considerations.....................................................................................................34
CHAPTER 4: COMPANY OVIERVIEW AND ITS MARKETING STRATEGY...............35
4.1 Bikroy.com.....................................................................................................................35
4.2 Products of Bikroy.com..................................................................................................36
Electronics........................................................................................................................36
Personal Items...................................................................................................................36
Education..........................................................................................................................36
Home appliances...............................................................................................................37
Pets and animals................................................................................................................37
Property.............................................................................................................................37
Jobs and services...............................................................................................................37
Food and agriculture.........................................................................................................38
Leisure, Sport & Hobby....................................................................................................38
New and used care and vehicles.......................................................................................38
4.3 Terms & Conditions.......................................................................................................39
4.4 Privacy Policy.................................................................................................................42
4.5 Marketing strategy of Bikroy.com.................................................................................44
1. TV advertising...........................................................................................................44
2. Billboard....................................................................................................................45
3. Blog...........................................................................................................................46
4. Facebook....................................................................................................................48
5. Radio ads...................................................................................................................49
6. Twitter.......................................................................................................................49
7. YouTube....................................................................................................................50
8. LinkedIn ads..............................................................................................................51
9. Search Engine Marketing..........................................................................................52
10. Mobile Marketing/ Advertising.............................................................................53
11. Email marketing.....................................................................................................53
12. Affiliate Marketing................................................................................................54
13. Content marketing..................................................................................................55
14. Public relations......................................................................................................55
15. Networking............................................................................................................56
16. Viral strategies.......................................................................................................56
CHAPTER 5: DATA PRESENTATION, FINDINGS AND ANALYSIS.............................57
4.1 Introduction....................................................................................................................57
4.2 Data presentation and findings.......................................................................................58
4.3 Hypothesis......................................................................................................................67
Table: consumers feedback on purchasing decision............................................................67
4.4 Summary of the survey finding......................................................................................68
CHAPTER 6: CONCLUSION AND RECOMMENDATION...............................................71
5.1 Conclusion......................................................................................................................71
5.2 Recommendation............................................................................................................72
CHAPTER 7: REFERENCES.................................................................................................74
CHAPTER-1: INTRODUCTION
1.1 Title
Bikroy.com is a website where you can buy and sell almost everything. The best deals are
often done with people who live in your own city or on your own street. So on Bikroy.com
it's easy to buy and sell locally. It has been doing business in Bangladesh with successfully.
Gradually it has introduced new ways to buy and sell products through online as has become
popular for its ease use and access. It has implemented concentrated, differentiated as well as
mass marketing strategy to reach the target market. Here we will analyze the marketing
strategy Bikroy.com & how it created competitive advantage in the market. We will basically
cover the major reason and strategies by which it has become the largest online conglomerate
in online selling.
“160 million connected through internet and phone makes one powerful network. We
see a rising trend on people getting connected as internet and smart phone usage
spreads. Digital marketing will be an important vehicle for brands to reach that
network” ( Taher.F, Investor, Magnito digital).
Marketing strategy is such king of weapons which can bring a radical change in the market as
well organization if anyone can apply the effective marketing tools which is relevant,
accurate & adjustable to the potential consumers. Bikroy.com is one of the organizations
which have already been trying to capture the existing and potential market for gaining
competitive advantage in the online sells market in Bangladesh. Here we are going to analyze
the marketing strategy of Bikroy.com and how this strategy helps to create competitive
advantage in the market comparing with others online businesses.
1.2 BackgroundFrom the very beginning of its journey it was providing superior customer service with
multiple product accessibility. In order to compete with the competitor and survive in the
market organization needs to apply some strong and effective marketing strategy (Jain, 1996).
So the strong and effective marketing strategy will help Bikroy.com to gain competitive
advantage from the competitive market. In order to keep face with the competitive market
Bikroy.com should apply some competitive marketing strategy. It’s not the fact of business
arena but in today’s world the marketing strategy helps to keep them competitive and
differentiated in the market. The customers, the competitors and the corporation are the three
important factors for the organization as they have to deal with them.
“With 36 million internet users, 6.4 million Facebook account holders, and 3G taking
off fast in Bangladesh, I expect an unprecedented opportunity for brands to engage with
consumers' hearts and minds through real-time interactions across multiple digital
channels” (Ahmed.Q.M, Lead Consultant/CEO, FutureLeaders).
By focusing the best marketing strategy in the organization Bikroy.com can defeat its
competitors and easily capture the customer attention by its differentiated & innovative value
and value delivery network. The perfect definition of market is very much important to the
organization as its helps to create competitive marketing plan (Kotler, P. et al. 1999). A good
marketing plan is very much important to the Bikroy.com because it helps to know the
market demand & the expectation of the consumers so that organization can take better and
effective initiatives to meet the needs of the customers. That’s why Bikroy.com should keep
the update customers database and good relationship so that it can help to increase the sell.
Last couple of year statistic shows their success in online business as they are growing
rapidly in the market in terms of sales and market share too.
The Bikroy.com should fix a strategy which will be related or similar with the customer
objective so that it can easily match. The impact of the applying marketing strategy by the
competitors should be less effective than the corporations. The objective of the research is
analysis of the impact of marketing strategy of Bikroy.com in creating competitive advantage
in the market.
1.3 Research rational
Internet is changing the way consumers shop and buys goods and services, and has rapidly
evolved into a global phenomenon. Many companies have started using the Internet with the
aim of cutting marketing costs, thereby reducing the price of their products and services in
order to stay ahead in highly competitive markets. Companies also use the Internet to convey,
communicate and disseminate information, to sell the product, to take feedback and also to
conduct satisfaction surveys with customers. Customers use the Internet not only to buy the
product online, but also to compare prices, products features and after sale service facilities
they will receive if they purchase the product from a particular store. Many experts are
optimistic about the prospect of online business.
In addition to the tremendous potential of the E-commerce market, the Internet provides a
unique opportunity for companies to more efficiently reach existing and potential customers.
Although most of the revenue of online transactions comes from business-to-business
commerce, the practitioners of business-to-consumer commerce should not lose confidence.
It has been more than a decade since business-to-consumer E-commerce first evolved.
Scholars and practitioners of E-commerce constantly strive to gain an improved insight into
consumer behavior in cyberspace. Along with the development of E-retailing, researchers
continue to explain E-consumers’ behavior from different perspectives. That’s why it’s
become popular to do online business in Bangladesh. Here we are going through the
Bikroy.com which has already captured the market and expand their business in whole
Bangladesh.
Marketing strategies are important to the organization as well as consumers as its helps to
satisfy the needs and wants of consumers. The purpose of the research is to find out the
effectiveness of the marketing strategy of Bikroy.com and find out the competitive advantage
which the organization is getting. It’s vital because marketing strategy determine the overall
success of the business as well as revenues. Marketing strategy has great value to any
organization because it’s the combination of different tools, understanding customer
perceptions and mitigating their needs and wants. To create more satisfactory product mix
and other competitive value so that it can help to fulfill its objective and gaining competitive
benefit from the competitor in the market. The purpose of the research is to analyze of the
marketing strategy of Bikroy.com in gaining competitive advantage in the market (Sekaran
and Bougie, 2009). A lot of study has been conducted regarding the impact of marketing
strategy for gaining competitive advantage but for the changing environment, Bikroy.com
should analyze the marketing strategy for gaining competitive advantage in the market. This
study has objective to analyze the impact of the marketing strategy for achieving customer
satisfaction and gaining competitive advantage in the market.
The effective marketing strategy has to be implemented by the Bikroy.com to achieve its
marketing objectives. In today’s world it has become important because the demand of the
customers has been radically changing, the new and existing competition becoming harder
and the organization has some specific marketing objectives (Bamossy & Solomon, 2010).
Here we can assume that the Bikroy.com has no enough resources so that it can conduct
further research to the local customers in order to know how better their marketing strategy
are? The assessment of the study will be accomplished by the help of literature review,
survey and interviews but primary research too. This research is important to the researchers
and the person who wants to build career in marketing.
Scope My report has covered almost all the strategy of Bikroy.com Bangladesh for marketing its
product. It also includes a brief profile of the company. To know the strategy of the company
it also includes the product categories and the distribution channel of the company so that it
helps itself to make difference in the market.
Source and method of data collectionFor assigning this assignment we are using both primary and secondary data.
Primary data
Primary data are collected from interviewing people within and outside the organization
Secondary data
We have collected secondary data by many ways. They are:
Collect data from its main office
Collect information from survey
The website of Bikroy.com ( www.bikroy.com)
Direct interview of the online buyer
1.4 Research aims The objective of the study is to analyze the impact of marketing strategy of Bikroy.com in
gaining competitive advantage in the competitive coffee market.
Research objectives:
To know details about Bikroy.com marketing strategy & how it’s trying to reach its
present and potential customers as its one of the leading organization in Bangladesh.
To know how marketing strategy helps Bikroy.com to create competitive advantage
in the competitive online market
To know the differentiated offerings by Bikroy.com and its benefits & perception of
the customers of this differentiated offerings
To recommend strategies for Bikroy.com to improve/sustain its competitive
advantage in the industry so that it can build itself as a number one brand in
Bangladesh. (Self-creation).
Research questions
In order to go for further study, research questions have to be formulated which will help to
bring out better outcome:
How the company sets and implements its marketing strategies?
What role do marketing strategies have in gaining or achieving the competitive
advantage in the competitive market?
How marketing strategies can benefit or rewarded the company with the best
competitive positioning in the market? (Self-creation).
How marketing strategies can attract the consumer & make them loyal compared to
competitor?
Research Hypotheses
Some hypothesis should be considered for research so that the research outcome might be
understandable and reliable.
H0= Marketing strategies do not have an impact on competitive advantage.
H1= Marketing strategies have an impact on competitive advantage.
The above research hypotheses has been considered so that the outcome of the research must
not bias, it might be reliable, comparable, relevance & accurate.
1.5 Research limitations
Many factors affected us on our way making the report. I have much personal limitations for
which failed to prepare a most updated report. Lacks of sufficient documents make us
unsuccessful in making the report highly informative. And lake of previous experience is also
hampering in our way. Some other factors affected us negatively, which we could not
overcome. Those limitations are as follows:
Lake of sufficient resources.
Lack of public co-operation.
Lack of online data as its new organization
Lack of experience
Lack of office visibility and co-operation from organization
CHAPTER 2: LITERATURE REVIEW
2.1 Preface
Online business - also referred to as e-business - is any kind of business activity that happens
online (over the internet). Running an online business can include buying and selling online,
and providing an online service. A wide variety of businesses can be found online, in many
different industries.
“We have over 20 Million active desktop internet users now, and as a result the year
2014 will be a year of unprecedented growth in content marketing among brands in
Bangladesh” (Islam. I. CTO, Newscred).
This research has the objective to analyze the effectiveness of marketing strategy of
Bikroy.com for gaining competitive advantage in online market. It’s related to marketing so
here Bikroy.com will consider the most important things of marketing that is 4p’s (Allen,
2011). It will help to analyze the details of marketing. The basic of the study is to find out
the relationship between marketing strategy and the competitive advantage or how marketing
strategy helps Bikroy.com to gain competitive advantage in the competitive online market.
Here we will closely discuss the effectiveness of existing marketing strategy to find out the
best offerings by the company.
2.2 SWOT analysis of Bikroy.com
A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to
evaluate the strengths, weaknesses, opportunities and threats involved in a project or in
a business venture. A SWOT analysis can be carried out for a product, place, industry or
person. It involves specifying the objective of the business venture or project and identifying
the internal and external factors that are favorable and unfavorable to achieve that objective.
Here we are going to analyze the SWOT analysis of Bikroy.com.
(Graph: SWOT analysis of bikroy.com)
1. Strength
C2C business model
Revenue model –Advertisement
Target Audiences- All BD’s Population
Payment system –hand to hand during receive the product
Cover up arena –Six Divisions
Collection of multiplicity-More than Thirty different categories product
Easy to use the site -No Need registration to up-load ads
Privacy policy –Hide personal information to post ads
Also support Bengali language
Support social network
SWOT ANALYSIS
Strength
Weakness
Opportunities
Threats
2. Weakness
No value proposition – Most of the products are old.
C2C causes Consumer generated business model.
Lack of B2B, B2C business model.
No Multiple revenue model-Sales of goods, Transaction fees, Subscription fees,
Affiliate.
No online payment system.
Shipping policy –up to consumers.
Site design – Can-not see the products in different dimension, no shopping cart
option.
Currency support –Only BDT/Taka.
Global rich- no support.
No Competitive advantages- As Consumer generated.
Lack of Market opportunity – Not include multiple business model
3. Opportunities
Has option to turn Multi-ple business model
Has chance to eliminate market middlemen
Can create employment
Audiences may gather IT knowledge
Option to run secure Online payment system-that helps one step to run E -banking
M-commerce – that may cover all target audiences
Marketing – that may bring first mover facility
4. Threats
Market strategy may fail -because user generated.
Products are old- User may reduce
Risk of hand to hand transactions – because of dishonest user
Shipping policy time consuming –so consumer may move to better one
Firm profit may fall down – Because of limited revenue model
2.3 Present Status and Critical Success factor of online business in Bangladesh
“At present the internet user in our country are increasing day by day and the online
business has becoming more powerful tools of business for its rapid growth in the
market. “Bangladesh, with its large and young population is set to reap demographic
dividends. Digital media will empower young entrepreneurs to start small and reach
niche customer groups with unique products at a much lower cost than mainstream
media” ( Khan.A, Founder, Asif khan blog).
Here we are going to analyze the present scenery of e-commerce in our country.
Vital outcome success factor are not highlighted (Elimination market middlemen,
multiple revenue aspect, time, first mover opportunity etc.)
No details about online marketplace
Consumer analysis is skipped
No touch to E-commerce site development in business purpose.
No details role of Internet for online market.
Online banking role is omit
Several payment systems are not specified
Product and services shipping policy was not found.
Only three business models are expressed (C2C, M-commerce are skipped)
There is no privacy policy sketch.
Lack of depicted foreign currencies approval.
No specified third party involvement in value payment (e.g. clearing house)
Not spoken cultural tradition to buy product
2.4 Marketing strategies
Regarding the development and progression of company marketing strategy is one of the
most effective tools for marketers as well as organization (Kotler & Killer, 2006). The
strategic marketing plan show the market where the company Bikroy.com wants to target the
market totally depends on the market opportunities. Where the market has more opportunity,
the company will try to grave the opportunity by offering differentiate products and services.
The more the differentiate product can be offer to the customers, the more diversified
feedback comes from the target customers. Here Bikroy.com applies strategic marketing plan
to find out the effective market gap or opportunities.
The company which can have benefit from an effective marketing strategy can invest more in
new product research and development which will ultimately help to increase or boost the
sells volume, market share and revenue earning (Chiang & Robinson, 2006). Due to the
changing business environment and globalization the consumers are becoming more
conscious and competition arises in different field of marketing. So large corporation wants
to involve in intense marketing which is linked to customer needs and it helps to increase the
market share (Baker, 1999).Here Bikroy.com can apply the most effective marketing strategy
to capture the market. It has been doing well from the very beginning of its journey & has
already established a brand name in the Bangladesh. Marketing strategy has great opportunity
for the corporation as it helps to expand the total market area and target the market. It helps
the organization to know the varieties demand of the customers and took initiatives regarding
the market demand.
Topic 1: Marketing mix
The managing of marketing mix determines the company will be determines the product
price, the distribution channel, the differentiated product & promotional activities of the
organization (Doyle, 2006). The product marketing mix has been tailored in order to add
value to the consumers, advertise the differentiate offering of the product which will be
accessible and convenient to the ultimate consumers. The efficient marketing mix has various
advantages towards the organization and company. The product is determined which we will
produce for the consumers? Here the Bikroy.com maintains the strong marketing mix chain
to capture the market.
“Putting the right product in the right place, at the right price, at the right time”
The marketing strategy or marketing mix stands for put the right product in the right place I
mean marketing mix choose the product and identify the market where the product customer
is available. Here marketers add pricing strategy and the right time that means price should be
convenience and the product should be placed or delivered at the right time which determine
the seriousness of the organization.
Product:
In marketing mix the product is what the consumers want to have from the organization or
what they actually require or their demand.
What does the customer want from the product/service?
What features does it have to meet the needs of customers?
Are you including costly features that the customer won't actually use or few
customers really want like this?
How the customer will use it?
What does it look like? How will customers experience it?
What size(s), color(s), and so on, should it be?
What is it to be called?
How is it branded or brand positioning?
How is it differentiated versus your competitors in terms of market offerings?
(Webster et. al,1991).
(Source: Self- Creation)
Price: Price include the following features
What is the value of the product or service to the buyer as well as sellers?
Are there established price points for products?
Is the customer price sensitive?
Is market is price elastic or not?
What discounts should be offered to trade customers, or to other specific segments
of market?
How will price compare with your competitors? (Zook & Smith, 2011).
Place: Place include the following features
Where do buyers look for product or service?
If they look in a store, what kind? A specialist boutique or in a supermarket, or
both? Or online? Or direct, via a catalogue?
How can we access the right distribution channels or promotional channel?
Do you need to use a sales force? Or attend trade fairs? Or make online
submissions? Or send samples to catalogue companies?
What do our competitors do, and how can we learn from that and/or differentiate
offerings and corrective decisions? (Webster,1991).
Marketing mix
Product
Price
Place
Promotion
Promotion: Promotion includes the following features
Where and when we can get across your marketing messages to our target
market?
Will we reach our audience by advertising in the press, or on TV, or radio, or on
billboards? On the Internet?
When is the best time to promote? Is there seasonality in the market?
How do the competitors do their promotions?
What should be promotional campaign for the Bikroy.com?
Topic 2: Branding
Customers have lots of variety so the organization should connect them emotionally & build
long term relationship with them (Wheeler, 2009). The Bikroy.com should involve their
customer emotionally loyal so that it helps them to build sustainable relationship. Having a
strong and established brand in the market, determine the strong position of the product or
service in the market. If any organization can establish themself as a brand in the market their
success is must. None can defeat themselves from being successful because people have soft
corner towards the branded products or services. Ultimately we can say that it determine the
success of the business.
The strength of the company brand is the indicator of the company market share because
brand helps to increase the market share of the organization (Davis, 2009). So every branded
organization evaluates their brand performance in order to know the company performance.
Measuring the brand is determine the way how close the brand of its customers. Most of the
cases it determine the market share because if the brand is close to customers definitely it will
help to capture the market and increase the market share. It also helps to increase the selling
of products or services within shortest possible time. Ultimately we can say that brand has
unique value towards the market growth, market share and profit or revenue earning of the
organization.
Topic 3: Consumer behavior
(Schiffman & Kanuk, 2008) defined the consumer behavior as the behavior shown in the
process of buying any particular product or services, searching any product, utility of product
and the assumption that which product may mitigate their needs and wants. Basically
consumer behavior determines the behavior pattern of the consumers in different stage of
buying process. That why Bikroy.com should conduct consumer research to know the
choices of the consumers so that it can add value to them and the consumers will be delighted
whenever they will get the product by their own choices.
(Source: Self-Creation)
Whenever cost of service and other benefits is equal to expected benefit or greater than
expected benefit consumers become satisfied but whenever inverse consumers become
dissatisfied.
Cost of benefit
Others benefit
Expected benefit
The consumer satisfaction leads to have market leader in the competitive market (Bamossy
& Solomon, 2010). So this will be able to implement whenever organization conduct proper
research regarding the product choice of the consumers. Once the consumer research is done,
it indicates that the organization will produce the produce accordance with the consumer
choices. So whenever it’s done, it will increase the sells, market share and revenue. So
ultimate we can say that Bikroy.com will be able to gain competitive benefit in the market
whenever they will establish themselves as a strong brand in the market.
Topic 4: Customer relationship management
Today’s era is most competitive in every sector of business. The businessmen have to face
lots of trouble in every second because of massive competition in the market. That’s why
business introduced to maintain customer relationship management in order to gain
competitive benefit in the market and make the customers loyal. Customer relationship
management is all about the interaction among the customers and combination of different
offerings to maintain good communication (Buttle, 2009). The CRM basically aims to
increase the sales and services of the organization which require good communication and
understanding among the customers. Its purpose is to combine all the requirements of the
customer interaction to create a path in order to identify, acquire and retain the customers for
the greater betterment of the organization.
Therefore the customer relationship management is a buzzword in the recent era of business
which ensures the market share, sells, profit, loyalty of the customer. The organization which
can apply better CRM is better successful regarding making them loyal to them. So
Bikroy.com already applying this concept but it should increase the implication of this
concept for the greater betterment of the organization.
Topic 5: Marketing communication
Marketing communication is one of the greatest tools for the marketers to capture the market
and target the specific market segment (Fill, 2009). However due to changing climate or
environment the marketing communication tools for sending or delivery message to the
consumers. The success of the business depends on how strongly the marketing
communication tool is applied by the organization and how well accepted it to the consumers.
So for the purpose of graving the attention of the consumers the marketers or organization
should know the consumer needs and find out their choices which might be well accepted
towards them. The usual communication tool has been changed for the changing environment
of the business that’s why today’s marketers apply different types of marketing
communication tools. (Smith and Zook, 2011) says that reassuring the customers thoughts in
advertising ensure the competitive benefit for the organization which has great influence
towards the market.
The greater and effective the marketing communication tools, the better the output can bring
from the communication process. The marketers should think about the implementation
process of communication tools and needs not be worry about after purchase resonance. After
all, organization should be more creative and determined to capture the attention and make
the message more effective and successful. The latest marketing communication tools have to
use to capture the attention of the consumers. The primitive way of communication is no
longer use in today’s changing environment. Today’s consumers are more smart and
knowledgeable in different matter and they apply their perception whenever they are going to
make any purchase.
Topic 6: Supply chain management
Supply chain management is one of the most important topics for the organization as it’s
related to the flow of goods. It includes the process of movement of goods and services, work
in process inventory and point to point finished goods distribution and storage (Wheeler,
2009). So the marketers use this concept for strategically compete with the global competitive
market. So the supply chain department of Bikroy.com maintain this strongly for gaining
some competitive benefit. For example, So Bikroy.com sources its raw material from the
different trustee and loyal distributor from different parts of Bangladesh and other country.
They manage pricing strategy considering the buying capacity of the consumers as well as the
legal value of service. Pricing is the weapon for the market to capture the attention of the
consumers. For this reason Bikroy.com try its level best to use the best supply chain
management better for the greater betterment of the firms, greater betterment of the
consumers as well as gaining reputation & competitive benefit from the competitors in this
competitive global market.
Topic 7: Marketing and experiential marketing
Marketing is related to know the needs of consumers and make profitable customer
relationship with the consumers. So here the Bikroy.com apply this marketing concept to
make profitable customer relationship with the present and potential customers. None of the
organization in this world is perfect without having good marketing knowledge and concept.
It helps organization to make the offerings different and attract by the consumers. The
variation of the marketing and the value delivery network has great impact on the business
(Bartlett & Ghoshal, 2009). Sometimes organization use experiential marketing to capture the
market and increase its competitive benefit in the market.
Experiential marketing requires to known firstly what does mean by experiential marketing.
It has three components firstly experiential subject, experiential object and experiential
process. So here the marketer of the organization tries to use this concept for getting the
better output from the market. As the market is going to be challenging that’s why
organization wants to apply more effective concept and experiential marketing is one of
them.
2.3 STP process of Bikroy.com
It basically consists of three elements like Segmentation, Targeting and Positioning which
helps the marketers to implement the marketing strategy effectively.
Figure: STP process
Segmentation As, stated by University of Southern California (2012), when the market is divided into sub
groups, known as market segments, in order to create product differentiation strategies and to
exploit these segments to the firm's own use. There are several types of segmentations like:
Demographic
It is process or way the market is segmented on the basis of age, gender, education, income,
occupation, etc.
Geographic
It is when the market is segmented on the basis of city, state, region or country or some others
variables.
Psychographic
It is when the market is segmented on tha basis of life style, Social class (Upper class, middle
class, lower class, blue collar, and white collar), behavior, opinions (liberal/conservative),
values or ethics.
Targeting
It is the second stage of the STP process. After the market has been separated into its
segments, the marketer will select a segment to target at, and then resources and efforts will
be targeted at the segment. There are different ways to target the market which is given
below:
One supplier targeting a single segment with a single product
One supplier with one product, targeting all segments
One supplier, with several brands and targeting different segments for each brand
Positioning
It’s the third and final part of the STP process & it’s the useful tools of marketers.
Targeting is to make a thing or group of things a target, to select it or them to be acted upon
First of all marketers needs to segment the market, target the specific consumers and then
needs to proceeds the position in the consumers mind. It’s all about the perception of
consumers and its vary from person to person. Starbucks positioned as a premiun product in
the UK market and mind of the consumers. It’s basically positioned in less price sensitive
customers for gaining their co-operation.
Basically the STP process helps the marketers to find out the gap where the marketers to
target the consumers and make position their products to the market. The success of the
business totally depends on the way how the organization did this STP process. If anyone
can’t do it effectively their profitability will be hampered.
2.4 Marketing strategy and competitive benefit
The marketing strategy is one the greatest tools for the marketers to increase its sells for the
short time which ultimately leads to increase the sells for the long term profit (Doyle, 2008).
The short term marketing strategy helps organization a lot and it has great influence for
Bikroy.com because Bikroy.com apply short term marketing strategy to know the market
condition and increase short term sells for the firms. The short term marketing strategy leads
to have increased the sell and the effectiveness of the marketing strategy towards the market
as well as consumers.
“The key is content. The delivery mechanisms are social media and web in general. The
audience, while at the moment being limited to the somewhat affluent, will eventually
become the masses now that 3G is in place and with smart phones eventually becoming
affordable” (Mahbub.N, Chief Entertainment Officer, Naveed'sComedy Club).
The actual marketing strategy should be customized and it will help the organization to
increase its sells, acquire the market share and find out the needs of the present and potential
customers. Last of all the strategic planning can be taken by this marketing strategy which
ultimately leads to being the better positioned in the market.
(Source: self- creation)
The marketing strategy determines the market positioning, target market, product distribution
network and promotional campaign for the Bikroy.com. All the activities and its greatest
performance lead by Bikroy.com to gain competitive benefit from the market. If you are good
in delivery system it’s your competitive benefit, if your pricing is moderate but quality of
product is good it’s your best competitive benefit. So last of all we can say that marketing
strategy and its different strategic planning helps it to being different from its competitors.
Ultimately the greater or better marketing strategy determines the greater competitive benefit
than competitors in the competitive market.
2.5 Consumer experience and competitive benefit
Consumer experience is very much important for the organization because it provides the
information regarding their experience what they think about the product or services. How
they are getting services whether it’s right or not? So all the organization keep in mind about
Competitors strategies
Organizational strategies
Greater strategy or services from competitors (Competitive benefit)
the consumer experience as it contribute to further or repurchase. The consumer experience
shows that the customer have experience which is not always functional but also symbolic
too (Agrawal, 2004). There is a great relationship between consumer lifestyle and symbolic
meaning of the product.
The relationship is shown by the product and symbolic meaning or hidden meaning represent
the consumer’s lifestyle. We can see that most of the consumers think about whether the
product will suit with their lifestyle that means their social status. The higher class consumers
or low class consumer which is not fact but the fact is their perception towards the product or
brand. Here the greater or positive the experience the better the output. The Bikroy.com here
maintains customer relationship management to identify or know the customer experience
from the customers. Here the customer experience will help to gain competitive benefit in the
market. If the customer is delighted they will try to make repurchase and guerrilla marketing
will be easily done by the consumers.
CHAPTER 3: METHODOLOGY
3.1 Research paradigm
There are basically two types of research have been using like descriptive and explorative
research. Descriptive research is used when the information is available for conducting the
research on the other hand explorative research is used when the collected information is less
available (Sekaran and Bougie, 2009). So, both of the research process is used in the specific
situation which is determined by the situation or conditions. In this research I will use the
descriptive research as there is abundance of information regarding the online selling of
Bangladesh. But here i will also use explorative research in some contents which will be
determined by the situation but basically we will go through the descriptive research to find
out the best outcome. The two researched have been chosen because Bikroy.com has already
marketing strategy that’s why it will be helpful to implement both methods for finding out the
best effectiveness of the marketing plan which will ultimately help to create competitive
advantage in the market. To find out the best or effectiveness of marketing strategy of
Bikroy.com, a survey as well as an interview will be conducted which will helps to suggest
the best improvement of the company and improve the performance of the company.
3.2 Data collection method
There are basically two types of data which have been used for business purposes and the
marketer used these two types of data (Kumar, 2003). The both types of data are primary and
secondary data which has great influence in business and finding the business solution and
make the effective and efficient decisions.
1. Primary data
Primary data are those data which will be collected for the purpose of the research or specific
matters. The primary data is collected from the field to know the present situation of the
market & there are several ways to find out the primary data from the market like interview,
focus group, questionnaires and personal observations (Anon, 2009). For the purpose of this
study a survey will be conducted to the customers of the Bikroy.com in Bangladesh.
A questionnaire will be distributed to the customers so that it will be easier to provide answer
and ask anything if they really want to ask something. This place is vital because all
customers pass through this place and it will be easier to collect information from the
customers.
It will take four or five minutes to collect the data from the customers. I will also ask face to
face questions to its customers like young generation to know the marketing strategy of the
Bikroy.com and their personal opinions regarding this. This interviews technique chosen by
the researches because it will be easier to collect authentic information from the customers.
The customers will get more time to response and if they can’t understand anything they can
ask the directly about their problem which they can’t really understand. So that the research
can easily clarify the question & respondent can easily respond. Due to availability of time I
will use one to one interview from the staffs and consumers too.
2. Secondary data
The secondary data is the data which has been found from the previous research or previous
literature which has been used for another purpose (Sekaran and Bougie, 2009). Data
collected from books, online journals, article and market report will be used for this purposes.
The secondary data has been used for several purposes but here will be used for this
purposed. This is the second use of these types of data. So, secondary data for the purpose of
this research will be gathered by investigating Bikroy.com sales report, articles, government
publications and statistics as well as books.
Choosing different sources of information will help the researcher to find out the best output
from the research and it will help to make wise decision for the researchers. The secondary
data also used in previous so it has some specific value to the researcher if he/she can find out
best utility from it. The diversified sources of secondary data will help the researchers to
make effective the primary data too.
3.3 Data analysis method
We are using two types of data like primary and secondary data for our research purposes.
The qualitative and quantitative methods are important for analyzing the primary data (Collis
and hussy, 2009). The findings of the quantitative approach of the research will be
represented in the graph, charts and percentage where primary data is the crucial to the
qualitative approach where findings will be presented in the form of paragraph or sentence.
For the purpose of the study, a combination of qualitative and quantitative methods will be
used. The interview will give more information regarding the marketing strategy and its
effectiveness from its customers. This interview will give clue how the Bikroy.com
establishes its marketing strategy & if it is satisfactory what they have to do or they intend to
do in case they want to improve it. So we can easily understand that every single interview
will be analyzed, interpret to gain better output from this topic. For the purpose of the survey
to the customers of Bikroy.com, it will help the researcher to gain information regarding their
perception towards the marketing strategy used by the Bikroy.com. The distribution of the
questionnaire to the customers of Bikroy.com will help the researchers to gain information
regarding the topic. The combination of qualitative and quantitative research will help the
researchers to find out the effective and efficient outcome from the research project. The
combination of these two methods will allow analyze the data in different ways and
researchers will be able to make decision regarding the effectiveness of the marketing
strategy of Bikroy.com.
3.4 Population and sampling
Sampling is about choosing small number of respondent from the entire population (Hussey,
2009). For the sampling purpose of this research there are two types of population is going to
be studied. Some of the customer from the Bikroy.com will be chosen to ask questions
regarding the performance of the company. Here the research will use the sampling method
because the whole population I mean all the customers of Bikroy.com is too large to study
that’s why researcher will use the sampling methods to find out the perception of consumers
regarding the marketing strategy or performance of the company. The sample will be
constituted with the customer who will be present in the Bikroy.com shop and who will not
mind to give their opinions regarding the company’s performance. This is also the purpose of
the study which we discussed earlier. Convenience sample size will help the researcher to
collect information accurately and within shortest period of time. It has been chosen 100
customers among the customers of Bikroy.com for gaining better and effective result from
the research. These 100 customers will give different opinions regarding the organization. In
terms of interview of the staffs researcher use population mean for gaining the exact
information from the staffs of the organization. Here the researcher will use all the staffs
opinions regarding the organizational strategy or marketing strategy and their feedback
regarding this. The population is important in this fact because the staff opinions are vital for
the greater betterment of the organization as well as for the researchers to find out the gap.
3.5 Questionnaire design
The questionnaire is the set of questions by which the research will be able to collect
information from the respondent. The researcher used this on the basis of his needs some
researchers used to ask direct questions and some use to ask rating questions which is the
modern system of the questionnaires. Here researchers use (1-5) rating to find out qualitative
as well as quantitative information. Rating scale helps to find out the perception of the
respondent. The questionnaire is given below which will help us to know the details of
Bikroy.com for having competitive benefit in the market and consumers perception regarding
Bikroy.com.
1. Are you Familiar with e-commerce or e-business?
2. According to you, is e-commerce suitable or traditional business model for your facilities?
3. How do you pay to buy products /services?
4. Are you satisfied to receive /get their services?
5. Have you ever heard the name Bikroy.com?
6. How frequently you are used to make online purchase?
7. What is your age limit?
8. What makes Bikroy.com different from others competitors in the market?
9. Do you think promotional activities pursue you make transaction in Bikroy.com?
10. Is Bikroy.com service quality is good enough?
11. Is it easy to make purchase over Bikroy.com?
12. Is Bikroy.com helps us to save time?
13. Are Family members/relatives have influence to make transaction over Bikroy.com?
14. Are Mass media (e.g. TV, newspaper, articles, Radio) influenced you to use Bikroy.com?
15. What is the first thing that comes to your mind when you think about Bikroy.com?
16. What is good about Bikroy.com?
17. Why you choose Bikroy.com rather than other online sites like Ekhanei.com?
18. What is your income level?
19. How did you come to know about Bikroy.com?
20. How satisfied you are with your overall service from Bikroy.com in scale of 1 to 10 (10
being VERY SATISFIED)
21. What do you think about Bikroy.com product pricing?
22 Do you think online selling is safe and secure in Bikroy.com?
23. Do your friends used to purchase from Bikroy.com? – To know the consumers and their
surroundings purchasing intention.
24. What makes you loyal or interest to make purchase or sell over Bikroy.com?
3.6 Research method limitations
In order to conduct the research of Bikroy.com, the primary and secondary data are the most
widely used method for the research but the use of secondary data is easy than primary data.
The primary data have to manipulate for the usages but secondary data is manipulated earlier
and used earlier. This method is not always authentic because the secondary data is not
credible sometimes. Bikroy.com faces some of the incomplete information which is not
helpful or effective for the research. Most of the cases the secondary data are not up to the
level as researches has to compare data with lot of sources. Sometimes the secondary data is
not clear and it’s not perfect for the researchers to make conclusion of the research outcome.
3.7 Ethical considerations
Research project have been conducted in a very ethical or positive way regarding the
information and process used in this research. Any public or social information that may
cause the authenticity of Bikroy.com is not used here and if anything happen in future will be
removed. The information taken from the respondent will be used for the purpose of this
research and the personal and other information will be kept confidential here (Zinkmund,
2000). Here also research finding will not be manipulated against the competitors or other
emerging organizations. Bikroy.com has its own ethical issues and ethical considerations
regarding the information of the company and other factors of this research project.
CHAPTER 4: COMPANY OVIERVIEW AND ITS MARKETING STRATEGY
4.1 Bikroy.com
Bikroy.com is a website where you can buy and sell almost everything. The best deals are
often done with people who live in your own city or on your own street, so, on Bikroy.com
it's easy to buy and sell locally. All you have to do is select your region. It's completely free
to publish a classified ad on Bikroy.com, and it takes you less than 2 minutes. You can sign
up for a free account and post ads easily every time. Or, if you don't want to register, just go
to Post Your Ad, fill in the form, and you're done.Bikroy.com has the widest selection of
popular second hand items all over Bangladesh, which makes it easy to find exactly what you
are looking for. So if you're looking for a car, mobile phone, house, computer or maybe a pet,
you will find the best deal on Bikroy.com.Bikroy.com does not specialize in any specific
category - here you can buy and sell items in more than 30 different categories. We also
carefully review all ads that are being published, to make sure the quality is up to our
standards.
4.2 Products of Bikroy.com
ElectronicsFind great deals for used electronics in Bangladesh including mobile phones, computers,
laptops, TVs, home theatres and much more. The below electronics items are sold in this
sites.
Mobile Phones
TV & Video
Cameras & Camcorders
Mobile Phone Accessories
Audio & MP3
Video Games & Consoles
Other Electronics
Personal Items
Buy and sell clothing, garments, shoes and other personal items including handbags,
perfumes, children's toys and handmade items in Bangladesh.
Clothes, Footwear & Accessories
Health & Beauty
Other Personal Items
Handicraft
EducationBuy and sell books and magazines, find tuition, classes and other educational resources in
Bangladesh.
Tuition
Other Education
Books
Home appliances Buy and sell new and used home appliances including furniture, kitchen items, garden
products and other household items in Bangladesh.
Furniture
White Goods & Kitchenware
Home & Garden
Other Home Appliances
Pets and animals Search from the widest variety of pets in Bangladesh .Select from dogs, puppies, cats, kittens,
birds and other domesticated animals.
Pets
Accessories
Farm Animals
Other Pets & Anima
Property View listings for property in Bangladesh. Find the cheapest rates for apartments, commercial
and residential properties, as well as for land and plots.
Apartments & Flats
Plots & Land
Commercial Property
Rooms
Houses
Garages
Jobs and services Post and apply for jobs and career opportunities in Bangladesh . Search for job vacancies in
your city.
Services
Job Openings
Food and agriculture
Find food and edible products, including fresh fruits and vegetables, meats, fish, seafood,
crop seeds, plants and other agricultural products in Bangladesh.
Other Food & Agriculture
Crops, Seeds & Plants
Fish
Vegetables
Fruit
Meat
Leisure, Sport & Hobby
Buy and sell used musical instruments, sports gear and accessories, art and collectibles,
movies, music and more.
Music & Instruments
Sports Equipment
Art & Collectibles
Movies, Music & Literature
Tickets
Other Leisure, Sport & Hobby
New and used care and vehicles
Buy and sell used cars, motorbikes and other vehicles in Bangladesh. Choose from top brands
including Toyota, Nissan, Honda and Suzuki.
Motorbikes & Scooters
Cars
Three Wheelers & Cycles
Parts & Accessories
Truck, Bus & Heavy-Duty
Boats & Water Transport
4.3 Terms & Conditions
Bikroy.com is a service provided by Saltside Technologies AB (subject to your compliance
with the Terms and Conditions set forth below). Please read these Terms and Conditions
before using this Web Site.
General:
Advertisers and users are responsible for ensuring that advertising content, text, images,
graphics, video ("Content") uploaded for inclusion on Bikroy.com complies with all
applicable laws. Bikroy.com & Saltside Technologies AB assumes no responsibility for any
illegality or any inaccuracy of the Content. The advertisers and user guarantees that his or her
Content do not violate any copyright, intellectual property rights or other rights of any person
or entity, and agrees to release Bikroy.com and Saltside Technologies AB from all
obligations, liabilities and claims arising in connection with the use of (or the inability to use)
the service.Advertisers agree that their Content can may be presented through Bikroy.com’s
partner sites under the same terms and conditions as on Bikroy.com.
Copyright:
Advertisers grant Bikroy.com and Saltside Technologies AB a perpetual, royalty-free,
irrevocable, non-exclusive right and license to use, reproduce, modify, adapt, publish,
translate, create derivative works from and distribute such Content or incorporate such
Content into any form, medium, or technology now known or later developed. The material
(including the Content, and any other content, software or services) contained on Bikroy.com
are the property of Saltside Technologies AB, its subsidiaries, affiliates and/or third party
licensors. Any intellectual property rights, such as copyright, trademarks, service marks, trade
names and other distinguishing brands on the Web Site are the property of Saltside
Technologies AB. To be clear: No material on this site may be copied, reproduced,
republished, installed, posted, transmitted, stored or distributed without written permission
from Saltside Technologies AB.
Watermarks:
All images on Bikroy.com are watermarked, which prevents the images to be used for other
purposes, without the consent of the advertiser.
Safety and images:
Bikroy.com and Saltside Technologies AB reserves the right to change the title of the
Content, for editorial purposes. Bikroy.com and Saltside Technologies AB reserves the right
not to publish images that are irrelevant or images that violate Bikroy.com's rules.
Personal:
Bikroy.com and Saltside Technologies AB has the right to cooperate with authorities in the
case any Content violates the law. The identity of advertisers, users or buyers may be
determined, for example by an ISP. IP addresses may also be registered in order to ensure
compliance with the terms and conditions.
Privacy:
Bikroy.com and Saltside Technologies AB will collect information from Users and
Advertisers. It is a condition of use of the Bikroy.com that each User and advertiser consents
and authorises Bikroy.com and Saltside Technologies AB to collect and use this information.
Bikroy.com and Saltside Technologies AB also reserves the right to disclose it to Company
Affiliates and any other person for the purposes of administering, supporting and maintaining
Bikroy.com, as well as for improving Bikroy.com, for example by using the information for
research, marketing, product development and planning.
Cookies:
This site uses cookies, which means that you must have cookies enabled on your computer in
order for all functionality on this site to work properly. A cookie is a small data file that is
written to your hard drive when you visit certain Web sites. Cookie files contain certain
information, such as a random number user ID that the site assigns to a visitor to track the
pages visited. A cookie cannot read data off your hard disk or read cookie files created by
other sites. Cookies, by themselves, cannot be used to find out the identity of any user.
Email Address of Users: Users are required to submit a valid email address, before they are
allowed to post advertisements. The email address of the User shall not be publicly displayed
and other users are permitted to send email to the User through Bikroy.com.
Site availability:
Bikroy.com and Saltside Technologies AB does not guarantee continuous or secure access to
the Web Site. The Web Site is provided "as is" and as and when available.
Links to third party websites:
Bikroy.com may contain links or references to other websites ('Third Party Websites').
Bikroy.com or Saltside Technologies AB shall not be responsible for the contents in Third
Party Websites. Third Party Websites are not investigated or monitored. In the event the user
decides to leave Bikroy.com and access Third Party Sites, the user does so at his/her own
risk.
Paid content:
Advertisers and Users wishing to post content on Bikroy.com that requires payment ("Paid
Content"), may be required to transmit information through a third-party service provider,
which may be governed by its own terms of use. Linking to any third party service providers
is at the Users' and Advertisers' own risk and Bikroy.com disclaims all liability related
thereto. Under no circumstances shall Bikroy.com be obliged to refund any payments made
in respect of Paid Content.In the event that Paid Content violates any aspect of these Terms &
Conditions, Bikroy.com may, in its sole discretion and without refund, remove the Paid
Content from Bikroy.com. Users and Advertisers may delete any Paid Content prior to the
end of the paid-for period, and Bikroy.com shall have no further responsibility to display the
deleted content. Bikroy.com is neither responsible nor liable for the perceived success or
failure of any Paid Content posted on Bikroy.com.
Disclaimer:
Bikroy.com and Saltside Technologies AB assume no responsibility what so ever for the use
of Bikroy.com and disclaims all responsibility for any injury, claim, liability, or damage of
any kind resulting from or arising out of or any way related to (a) any errors on Bikroy.com
or the Content, including but not limited to technical errors and typographical errors, (b) any
third party web sites or content directly or indirectly accessed through links in Bikroy.com,
(c) the unavailability of Bikroy.com, (d) your use of Bikroy.com or the Content, or (e) your
use of any equipment (or software) in connection with Bikroy.com
Indemnification:
Advertisers and users agree to indemnify Bikroy.com & Saltside Technologies AB as well as
its officers, directors, employees, agents, from and against all losses, expenses, damages and
costs, including attorney’s fees, resulting from any violation of this Terms and Conditions
(including negligent or wrongful conduct).
Modifications:
Bikroy.com & Saltside Technologies AB reserves the right to modify these Terms and
Conditions. Such modifications shall be effective immediately upon posting on Bikroy.com.
You are responsible for the reviewing of such modifications. Your continued access or use of
Bikroy.com shall be deemed your acceptance of the modified terms and conditions.
Governing Law:
Bikroy.com is operated under the laws and regulations of Sweden. Advertisers and users
agree that Swedish courts, with the district court of Gothenburg as the court of first instance,
will have jurisdiction over any dispute or claim relating to the use of Bikroy.com
4.4 Privacy Policy
In order for the website to provide a safe and useful service, it is important for
bikroy.com to collect, use, and share personal information.
Collection. Information posted on bikroy.com is publicly available. If you choose to
provide us with personal information, you are consenting to the transfer and storage of
that information on our servers. We collect and store the following personal
information:
Email address, contact information, and (depending on the service
used) sometimes financial information;
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4.5 Marketing strategy of Bikroy.com
1. TV advertising
A commercial advertisement on television (usually abbreviated to TV commercial, ad, ad-
film, and known as advert, or TV advert is a span of television programming produced and
paid for by an organization, which conveys a message, typically to market a product or
service. Advertising revenue provides a significant portion of the funding for most privately
owned television networks. The vast majority of television advertisements today consist of
brief advertising spots, ranging in length from a few seconds to several minutes (as well as
program-length infomercials). Advertisements of this sort have been used to promote a wide
variety of goods, services and ideas since the dawn of television.
The effects of television advertising upon the viewing public (and the effects of mass media
in general) have been the subject of philosophical discourse by such luminaries as Marshall
McLuhan. The viewership of television programming, as measured by companies such
as Nielsen Media Research, is often used as a metric for television advertisement placement,
and consequently, for the rates charged to advertisers to air within a given network, television
program, or time of day.
Bikroy.com for being the largest online business in terms of selling has been using the concept of TV advertising from the very beginning of its journey. It has become able to capture the attention of the consumers to make purchase over internet and it has become popular among the young generation of the country. TV ads has become on the most important and vital way of communicating with the different guys from different sectors. It has potential market in Bangladesh and that’s why it’s still working better than previous years.
2. Billboard
A billboard (also called a hoarding in the many other parts of the world) is a large outdoor
advertising structure (a billing board), typically found in high-traffic areas such as alongside
busy roads. Billboards present large advertisements to passing pedestrians and drivers.
Typically showing large, ostensibly witty slogans, and distinctive visuals, billboards are
highly visible in the top designated market areas. Bulletins are the largest standard-size
billboards. Located primarily on major highways, expressways or principal arterials, they
command high-density consumer exposure (mostly to vehicular traffic). Bulletins afford
greatest visibility due not only to their size, but because they allow creative "customizing"
through extensions and embellishments. Posters are the other common form of billboard
advertising, located mostly along primary and secondary arterial roads. Posters are a smaller
format than bulletins and are viewed principally by residents and commuter traffic, with some
pedestrian exposure. Billboard advertisements are designed to catch a person's attention and
create a memorable impression very quickly, leaving the reader thinking about the
advertisement after they have driven past it. They have to be readable in a very short time
because they are usually read while being passed at high speeds. Thus there are usually only a
few words, in large print, and a humorous or arresting image in brilliant colors .Some
billboard designs spill outside the actual space given to them by the billboard, with parts of
figures hanging off the billboard edges or jutting out of the billboard in three dimensions.
Here bikroy.com has followed the promotional strategy to capture the attention of the mass
consumers. Here not only the middle or higher class but also all classes of people who have
internet access can be able to make purchase over Bikroy.com. Bikroy.com has established
lots of Billboard in different important places of the country and its bring better output for the
firms to make it public.
Painted Billboard
Almost all these billboards were painted in large studios. The image was projected on the
series of paper panels that made up the billboard. Line drawings were done, then traced with
a pounce wheel that created perforated lines. The patterns were then "pounced" onto the
board with a chalk filled pounce bag, marking the outlines of the figures or objects. Using oil
paints, artists would use large brushes to paint the image. Once the panels were installed
using hydraulic cranes, artists would go up on the installed billboard and touch up the edges
between panels. These large, painted billboards were especially popular in Los Angeles
where historic firms such as Foster & Kleiser and Pacific Outdoor Advertising dominated the
industry. Eventually, these painted billboards gave way to graphic reproduction, but hand-
painted billboards are still in use in some areas where only a single board or two is required.
Bikroy.com use the painted billboard so that it can easily have to public access to share what
actually bikroy.com doing. It’s a huge opportunity for them to make them different in the
market through the strategy of billboard selection.
Digital Billboard
A digital billboard is a billboard that is created from computer programs and software. Digital
billboards can be designed to display running text, display several different displays from the
same company, and even provide several companies a certain time slot during the day. The
constantly changing texts ensure maximum impact and wide exposure to target audiences.
It’s not introduced by the organization but within next few month they are going to
implement the strategy of Digital Billboard to make it more competitive and more attractive
from others.
3. Blog
A blog (a truncation of the expression weblog) is a discussion or informational site published
on the World Wide Web and consisting of discrete entries ("posts") typically displayed in
reverse chronological order (the most recent post appears first). Until 2009 blogs were
usually the work of a single individual , occasionally of a small group, and often covered a
single subject. More recently "multi-author blogs" (MABs) have developed, with posts
written by large numbers of authors and professionally edited. MABs from newspapers, other
media outlets, universities, think tanks, advocacy groups and similar institutions account for
an increasing quantity of blog traffic. The rise of Twitter and other "microblogging" systems
helps integrate MABs and single-author blogs into societal newstreams. Blog can also be
used as a verb, meaning to maintain or add content to a blog.
The emergence and growth of blogs in the late 1990s coincided with the advent of web
publishing tools that facilitated the posting of content by non-technical users. (Previously,a
knowledge of such technologies as HTML and FTP had been required to publish content on
the Web.) A majority is interactive, allowing visitors to leave comments and even message
each other via GUI widgets on the blogs, and it is this interactivity that distinguishes them
from other static websites. In that sense, blogging can be seen as a form of social networking
service. Indeed, bloggers do not only produce content to post on their blogs, but also build
social relations with their readers and other bloggers. That’s why Bikroy.com has been using
its blog strategy to reach the ultimate consumers. To express what actually bikroy.com is
doing in the market and what’s their offerings to the mass people.
Consumer generated advertising in blogs
Consumer-generated advertising is a relatively new and controversial development and it has
created a new model of marketing communication from businesses to consumers. Among the
various forms of advertising on blog, the most controversial are the sponsored posts. These
are blog entries or posts and may be in the form of feedback, reviews, opinion, videos, etc.
and usually contain a link back to the desired site using a keyword/s.
Blogs have led to some disintermediation and a breakdown of the traditional advertising
model where companies can skip over the advertising agencies (previously the only interface
with the customer) and contact the customers directly themselves. On the other hand, new
companies specialized in blog advertising have been established, to take advantage of this
new development as well.
However, there are many people who look negatively on this new development. Some
believe that any form of commercial activity on blogs will destroy the blogosphere’s
credibility. The interaction of the blogosphere with economics has become known
as blogonomics.
4. Facebook
Facebook (formerly The-facebook) is an online social networking service headquartered
in Menlo Park, California. Its website was launched on February 4, 2004, by Mark
Zuckerberg with his college roommates and fellow Harvard University students Eduardo
Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. The founders had initially
limited the website's membership to Harvard students, but later expanded it to colleges in the
Boston area, the Ivy League, and Stanford University. It gradually added support for students
at various other universities and later to high-school students. Since 2006, anyone who is at
least 13 years old is allowed to become a registered user of the website, though the age
requirements may be higher depending on applicable local laws. Its name comes from a
colloquialism for the directory given to it by American universities students.
After registering to use the site, users can create a user profile, add other users as "friends",
exchange messages, post status updates and photos, share videos and receive notifications
when others update their profiles. Additionally, users may join common-interest user groups,
organized by workplace, school or college, or other characteristics, and categorize their
friends into lists such as "People Form Work" or "Close Friends". Facebook had over 1.3
billion active users as of June 2014. Due to the large volume of data users submit to the
service, Facebook has come under scrutiny for their privacy policies.
Now a days not only personal branding but also for organizational perspective it has been
using worldwide. For this reason Bikroy.com also uses facebook to reach its target customers
as its online selling website where everyone can get all sorts of services like selling and
purchasing anything, anytime and anywhere in Bangladesh.
At present we have 6.5 Million mobile Facebook users and day by day it’s increasing. So it’s
a potential sector for the online promotion and Bikroy.com has captured the market by this
social media. Facebook ads are another form of strategy to reach the ultimate customers. The
Facebook pages, events creation, Facebook ads etc. helps Bikroy.com to reach its customers
as most of the users are young generation in our country and almost majority of the
consumers of Bikroy.com are young generation.
We have 161,084,000 population and almost 28% urban and rest 72% rural people. Only
29,41,5693 uses internet which is almost 18% and 101,474,000 uses mobile for their social
networking purposes which is almost 63%.
Within 5 minutes 12 new Facebook users and 120 new mobile subscribers increasing in our
country. That’s why Bikroy.com took Facebook as a potential source of sharing information
and captures the market of the young generation.
5. Radio ads
Radio has come a long way since it first began crackling across the airwaves in broad fashion
100 years ago. Today, in addition to entertaining listeners around the globe, radio is a
powerful way for companies and brands to engage with consumers. Commercial radio
stations make most of their revenue selling "airtime" to advertisers. Of total media
expenditures, radio accounts for 6.9%. Radio advertisements or "spots" are available when a
business or service provides valuable consideration, usually cash, in exchange for the station
airing their spot or mentioning them on air. In our country almost 73% mobile phone has
radio accessibility and 34% use the utility of Radio. So bikroy.com uses the Radio ads
strategy to reach the customers because it’s another easiest way to reach the customers. We
the people in Bangladesh used to hear radio when we are lazy and pass time in traffic jam etc.
and Bikroy.com tried to have the best utility from the consumers mind and being a strong
brand in the consumers mind by reaching them.
There's a lot that's new in radio. Many stations now stream their programming on the internet
and reach additional local and even national audiences. What's more, if online listeners like
what they hear in your streaming radio spot, they're just one click away from your website.
Radio provides an ideal advertising medium for small businesses, but running an effective
campaign takes a bit of know-how.
6. Twitter
Twitter is an Internet social medium where users can post brief online messages known as
"tweets." Posts can consist of a maximum of 140 characters and are available to other Twitter
users around the world. In addition to use in personal communications, Twitter can also be of
benefit to businesses. In particular, business owners can use Twitter as an effective marketing
tool. Here Bikroy.com use the marketing strategy to reach the target audience and at present
it has 2784 followers in and 2841 tweets. Though most of internet users use Facebook but
gradually the Twitter user has been increasing day by day. That’s why it’s another vital tool
of communication for Bikroy.com. some special advantages of Twitter is given below:
Cost-Effectiveness
For cash-strapped small-business owners, using Twitter can be a cost-effective way to reach
customers and prospects around the world. There is no charge to open and operate a Twitter
account, so your only associated expenses are your computer and Internet connection, which
you likely already have. You can send and receive tweets via mobile devices such as cell
phones at no cost other than those required by your service provider, such as the cost for text
messages. Twitter offers additional marketing tools at no or low cost.
Target Marketing
With Twitter, you can locate people who have similar interests, which can help you target
potential customers. For instance, if your business is selling model trains, you can easily find
other model-train enthusiasts and "follow" them, which is the process of enlisting to receive
tweets sent by others. Through networking, you can build your own following and develop
long-term relationships that can lead to sales
Immediacy
Twitter allows you to get your message out at any time of day or night without delays. If you
come across an important bit of information that can be of immediate benefit to your
followers, you can send a quick tweet and gain a competitive advantage. For example, if a
sudden change in market conditions makes owning a product you sell of great benefit to your
followers, you can be the first to communicate the change and make sales as a result.
7. YouTube
By marketing your business through YouTube, you have the chance of increasing brand
awareness and earning yourself more potential customers. If you utilize it correctly, you open
your business up to the numerous benefits that YouTube can offer. That’s why Bikroy.com
started using this strategy to inform its customers about its services and attract the consumers.
Most of consumers in our country are using YouTube for their different purposes and
Bikroy.com is getting the real test from its marketing strategy. At present 7,24,232 times the
videos seen by the audiences in YouTube which was uploaded by the Bikroy.com.
You can reach audience
You can reach a global audience
You can increase your rank in Google’s search engine
It’s free
There’s a pretty good chance your target market is watching videos on YouTube. Also, if
you’re a local business, you can target your specific geographic area, so you only reach
prospective customers in your city or town. So what’s holding you back from testing this
relatively new advertising platform? The video should be interactive so that audiences might
take it pleasure and the message will be automatically reach the consumers mind. That’s how
the brand is created in the audiences mind.
8. LinkedIn ads
Marketing is the lifeblood of every business. In this digital age, increasing sales as well as
revenues are tantamount to being able to successfully use available marketing technologies.
There are many ways to get your marketing message across; don’t underestimate the value of
online display advertising. This type sells your product or service through visually appealing
text as well as graphics, animation and video.
Strategic placement of display ads is critical. Placing them on sites that are already enjoying
wide patronage of your target market can make the ads relevant, personalized and timely. All
these help in creating a successful advertising campaign or increasing the chance of the ads
getting noticed, clicked and bought by your targets. Bikroy.com has started LinkedIn ads
from its journey in 2012. Basically its new platform of business in our country but in last
couple of years it’s did well and establish itself as online brand in consumers mind. That’s
why bikroy.com has been using different social networking sites to reach its customers. It’s
basically professional sites but LinkedIn ads will help the professional to use the process as
they are busy enough to manage time to purchase anything.
The main advantages are:
Enjoy lower marketing cost
Use complete transparency to your advantage
Get the ads featured on relevant sites
Entice your target by knowing their interests
Look like a big fish and gain trust
Capturing the market through remarketing/retargeting
It completes your branding circle
9. Search Engine Marketing
Search engine marketing (SEM) is a form of Internet marketing that involves the promotion
of websites by increasing their visibility in search engine results pages (SERPs) through
optimization and advertising. SEM may use search engine optimization (SEO), which adjusts
or rewrites website content to achieve a higher ranking in search engine results pages, or
use pay per click (PPC) listings. Search engine marketing is a multi-billion industry
spearheaded by Google, Bing, and Yahoo that is often broken down to two segments - free
(organic) and paid (inorganic) search. Free search engine marketing, or search engine
optimization (SEO), uses on-page and off-page strategies to help search engines better
understand the relative importance of a website's pages. Search engine advertising, of pay per
click (PPC) advertising, are advertising platforms search engines provide to advertisers to
place their ads. Due to the growing demand and complex nature of "search," as search engine
marketing firms would like to say, it's often hard to determine good SEO/PPC experts from
bad SEO/PPC salesmen. Here Bikroy.com has been using search engine marketing tools to
reach its customers so that they can easily find out websites.
Productivity - By providing a series of keyword management, keyword search tools
and automation tools Word-Stream enables you to accomplish more search engine
marketing in considerably less time, and with clearer workflow prioritization.
Relevance - The software creates a system of daily keyword suggestion, and arms
you with negative keyword tools that help you to consistently refine your keyword
list. This will help you improve your search engine rankings and, in turn, earn you a
better Quality Score in Ad-Words.
Value – Word-Stream is designed to discover new, inexpensive keyword
advertising opportunities, and the keyword ad software secures algorithmic pricing
advantages for you from the search engines. This saves you money by ensuring a low
minimum bid, saves time otherwise spent searching and analyzing manually, and
generates better results for your search engine marketing campaigns.
So whenever consumers are trying to see the websites it’s become easy for them to find out
websites and know the offerings of the Bikroy.com for their clients.
10. Mobile Marketing/ Advertising
Some see mobile advertising as closely related to online or internet advertising, though its
reach is far greater - currently, most mobile advertising is targeted at mobile phones, that
came estimably to a global total of 4.6 billion as of 2013. Notably computers, including
desktops and laptops, are currently estimated at 1.1 billion globally.
It is probable that advertisers and media industry will increasingly take account of a bigger
and fast-growing mobile market, though it remains at around 1% of global advertising spend.
Mobile media is evolving rapidly and while mobile phones will continue to be the mainstay,
it is not clear whether mobile phones based on smartphones based on WiFi hot spot
or WiMAX hot zone will also strengthen. However, such is the emergence of this form of
advertising, Bangladesh also growing rapidly mobile marketing strategy for the marketers.
Almost 4.5 Million mobile users in our country and it’s a fantastic way to reach the
consumers and deliver their message to the consumers.
In some markets, this type of advertising is most commonly seen as a Mobile Web Banner
(top of page) or Mobile Web Poster (bottom of page banner), while in others, it is dominated
by SMS advertising (which has been estimated at over 90% of mobile marketing revenue
worldwide). Other forms include MMS advertising, advertising within mobile games and
mobile videos, during mobile TV receipt, full-screen interstitials, which appear while a
requested item of mobile content or mobile web page is loading up, and audio advertisements
that can take the form of a jingle before a voicemail recording, or an audio recording played
while interacting with a telephone-based service such as movie ticketing or directory
assistance.
Bikroy.com has been using this marketing strategy to capture the market and inform their
offerings to the mass people. Those who have internet access and who is willing to buy
something is the target customers of Bikroy.com.
11. Email marketing
Email marketing is directly marketing a commercial message to a group of people
using email. In its broadest sense, every email sent to a potential or current customer could be
considered email marketing. It usually involves using email to send ads, request business, or
solicit sales or donations, and is meant to build loyalty, trust, or brand awareness. Email
marketing can be done to either sold lists or a current customer database. Broadly, the term is
usually used to refer to sending email messages with the purpose of enhancing the
relationship of a merchant with its current or previous customers, to encourage customer
loyalty and repeat business, acquiring new customers or convincing current customers to
purchase something immediately, and adding advertisements to email messages sent by other
companies to their customers. Bikroy.com has been using the marketing tools of email
marketing for its promotional activities in the market. It’s targeted the audiences and sends
email to them by providing their offerings.
Email marketing is popular with companies for several reasons:
An exact return on investment can be tracked ("track to basket") and has proven to be
high when done properly. Email marketing is often reported as second only to search
marketing as the most effective online marketing tactic.
Email marketing is significantly cheaper and faster than traditional mail, mainly because
of high cost and time required in a traditional mail campaign for producing the artwork,
printing, addressing and mailing.
Advertisers can reach substantial numbers of email subscribers who have opted in (i.e.,
consented) to receive email communications on subjects of interest to them.
12. Affiliate Marketing
Affiliate marketing (sometimes called lead generation) occurs when advertisers organize third
parties to generate potential customers for them. Third-party affiliates receive payment based
on sales generated through their promotion. Affiliate marketers generate traffic to offers
from affiliate networks, and when the desired action is taken by the visitor, the affiliate earns
a commission. These desired actions can be an email submission, a phone call, filling out an
online form, or an online order being completed. The Bikroy.com has been using the affiliate
marketing strategies to reach its customers.
Traditional affiliate networks enable merchants to offer publishers a share of any revenue that
is generated by the merchant from visitors to the publisher's site, or a fee for each visitor on
the publisher's site that completes a specific action (making a purchase, registering for a
newsletter, etc.). The majority of merchant programs have a revenue share model, as opposed
to a fee-per-action model.
Bikroy.com has been using this marketing process to capture the market and reach its
targeted consumers so that it can share its offerings to the consumers.
13. Content marketing
Content marketing is any marketing that involves the creation and sharing of media and
publishing content in order to acquire and retain customers. This information can be
presented in a variety of formats, including news, video, white papers, e-books, info-graphics,
case studies, how-to guides, question and answer articles, photos, etc. Recently, content
marketing has become more prominent, especially where digital and online marketing is
concerned. Considering that most marketing involves some form of published media, it is
almost (though not entirely) redundant to call 'content marketing' anything other than simply
'marketing'. There are, of course, other forms of marketing (in-person marketing, telephone-
based marketing, word of mouth marketing, etc.) where the label is more useful for
identifying the type of marketing. However, even these are usually merely presenting content
that they are marketing as information in a way that is different from traditional print, radio,
TV, film, email, or web media.
The Bikroy.com has been using the marketing strategy to reach its customers. That’s why it
has been using different content tools like video which bear the valuable message from the
organization, news which bear the news but shows the ads and content of the Bikroy.com
which is another important tool of content marketing for the greater betterment of the content
marketing.
14. Public relations
Public relations, the task of getting press coverage and create good relationship among the
different internal and external parties is still a vital type of site promotion. If you can get a
news release picked up by several print and/or Internet publications you’ll get a tremendous
boost in traffic, all for “free,” letting the news periodical’s network carry your marketing
message. Of course, nothing’s really free. You’ll need to have a truly newsworthy event,
contest, free service, chat room or something or no decent publication will consider it news.
Coming up with “free” services and events isn’t inexpensive, but the ensuing publicity can be
excellent. You may get unbiased editorial recommendations that you couldn’t purchase
for any amount of money. While there are free news release services, expect to pay several
hundred dollars to have your news release sent to hundreds of subscribing periodicals. That’s
why Bikroy.com has been trying to create strong public relation which will bring popularity
and strong brand image in the market.
15. Networking
An extremely important way to promote your website is through networking. Small business
members of a local Chamber of Commerce know how making friends, being introduced,
meeting new people at mixers, and being featured in the Chamber newsletter can help build
your business. Networking isn’t quick, but it’s the basis of relationships that will grow your
business through word-of-mouth over the years. Bikroy.com has been trying to build strong
network among the country and create good image in the market. Which will ultimately
considered the success factor for any organization. It also sponsor in different issues for
having public attraction as a brand.
16. Viral strategies
An increasingly important process is to design a strategy that encourages others to carry your
marketing message via e-mail, using their own network of relationships — and preferably
their own resources. This is called “viral marketing” after the way viruses multiply rapidly in
a cell, commandeering the cell’s resources to do the virus’s bidding. The classic example is
HotMail.com, a free e-mail system. Each e-mail message (sent by definition to a person’s
own friends and associates) carries a message encouraging the recipient to sign up for a
HotMail account, too. Another example is postcard or greeting cards, each of which carries a
message encouraging the recipient to send a card to a friend — carrying the site owner’s
marketing message. If you can write quality articles, you can offer them to others to use on
their websites or in their newsletters, each article carrying a link to your website. Public
relation to get press coverage is a kind of viral strategy and different event sponsorship by the
Bikroy.com is an ideal example of viral strategies.
CHAPTER 5: DATA PRESENTATION, FINDINGS AND ANALYSIS
4.1 Introduction
Bikroy.com is one of the leading online seller in Bangladesh since 2012 and it has been doing
very well in its service i mean quality service to the consumers. Now, it’s one of the top and
successful online businesses in Bangladesh which has already made them as a world class
brand in the market. There have been some variables which helps Bikroy.com to being one of
the market leaders in this sector. Here the marketing strategy of Bikroy.com and its
concentrated strategy took great role for the success of this organization in this competitive
sector. The top level management, employee good relationship and customer relationship
management also played a crucial role for gaining competitive benefit in the market. The
segmentation of market and differentiated their needs and wants then targeted the market is
one of the leading success factor for Bikroy.com.
Here we use qualitative as well as quantitative research to find out the best output from the
consumers. Whether the marketing strategy of Bikroy.com is effective or not? That’s why we
collected some primary as well as secondary data from the market and other sources. That’s
why some questionnaire and survey took place among the consumers so that we can be able
to find out the authentic information from the market or consumers. The finding will be
shown later to find out the best output from the market. There are some strong competitors in
Bangladesh market. For this reason Bikroy.com applied some point of parity and points of
difference strategy to catch the attraction of the consumers. The answers from the consumers
help the researchers to find out the exact condition of the market. Some demonstration
regarding research and questionnaire is given below:
Response rate:
Here I will use 100 responses from the consumer that’s why the consumer response will be
collected periodically within 1 month. Here I have selected the location and collect
information from the consumers in different periods so that the best option or best output can
be gained. Here the researcher will collect 20 responses within 1 week and next week total 30
responses will be collected from the respondent. Then 20 responses will be collected and the
next week again 30 response will be collected from the respondent. It’s all about the way of
response rate how the researcher will collect response from the consumers.
4.2 Data presentation and findings:
Q1: Gender
64%
36%
Respondents
MaleFemale
Name Frequency Percentage
Female 36 36%
Male 64 64%
Total response 100 100%
The table shows the percentages of gender who participated in the survey. There are 100
respondent where 64% female respondent and 36% male respondent. Here I was going
through the most male respondent as the most of consumers are male. So Bikroy.com has
most of the male consumers thats why I was going through use the majority portion of the
male respondent.
Q2: Age
0-15 16-20 21-25 26-30 31-40 40+0%
10%
20%
30%
40%
50%
60%
70%
80%
Age limit
Table : Age group of respondent
Here the table which represent the age of the respondent and almost 68% of the respondent
aged between 21-25, along with 22% belonging 16-20, 4% belonging age between 26-30 and
only 2% belonging age above 40. So here the researcher find out the young generation is the
most vital customers for the Bikroy.com though they have several classes consumers. But the
result helps the research to find out their choices and how the top level management ensures
the marketing strategy for the young generations as its a challenging sector for the
Bikroy.com.
Age Frequency PercentageBelow 15 0 0%
16-20 20 20%
21-25 68 68%
26-30 4 4%
31-40 6 6%
Above 40 2 2%
Total responses 100 100%
Q3: Monthly income
0-15000 15000-25000
25000-35000
35000-40000
40000+ 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Percentage of respondent
Table : Monthly income of respondent
The monthly income levels have to know the researchers to find out the effectiveness of their
products and strategy. The Bikroy.com targeted the consumers on the basis of their income
level. Here majority of the consumers income level 0-15000 (4%) and 34% above 30000
along with minority 12%, 4% with respectively 25000-30000 and more than 40000.
Q4: Do you think branded products are better than regular products in the market?
Frequency Percentage
Yes 76 76%
No 24 24%
Total responses 100 100%
The consumers have to have the knowledge about brand and branded products and its
differences from the non-branded product. Otherwise all the efforts will be valueless that’s
why researchers tried to know the knowledge level of the consumers & here 76% are aware
of the brand and 24% are not aware about branded product and non-branded product. So, it
indicate the effectiveness of the marketing strategy of the Bikroy.com how they created brand
consciousness among the people.
Q5: How did you first hear about Bikroy.com?
word of mouth
social network
TV ads newspaper Radio ads others 0%
10%
20%
30%
40%
50%
60%
Respondents
Table: First heard about Bikroy.com
This is one of the most vital elements for the researchers as well as for the top level
management to know the effectiveness of the marketing strategy. Here the researchers try to
find out the promotional tools and how the consumers first heard about Bikroy.com. This is
most important how they are getting the brand knowledge or aware. Here 20% consumers are
getting the knowledge through word of mouth, and Internet/Social media (55%) along with
other ways of advertisements like TV advertisements (8%), Newspaper/Magazine (8%),
Radio advertising (7%) and others (4%).
Its most critical one for the researchers as it shows how the consumers know about
Bikroy.com and it’s all about the effectiveness of the marketing strategy. Here first time
known about the brand name but there are different ways to know the name. The word of
mouth is vital as 20% of the consumers are known by the word of mouth. Different social
networking sides like Facebook, Twitter, LinkedIn made it easy and comfortable.
Q6: What makes Bikroy.com different from other competitors?
12%
22%
16%
19%
15%4%
Percentage of respondents
Brand namefeaturestechnologyinnovationserviceprice
Table : Competitive difference Bikroy.com
The table shows the competitive difference of the Bikroy.com how it makes itself different
from other competitors in the market. This is one of the most important factors for the
consumers as well as researchers to find out the differential factors for the product.
Bikroy.com has some unique quality which makes itself different from its competitors. Here
most of the consumers, 16% shown their interest for technology, Features (22%) as being the
top differentiating factors along with other factors like Brand name and Quality (12%),
Innovation (19%) and Price (4%). So the price is one of the most important factors for the top
level management of the Bikroy.com, as they wants to make it less price product as most of
the consumers are price sensitive. The features, quality and innovation also played role in this
aspect.
Q7: Rating of Bikroy.com and services (where 5 are excellent and 1 is poor).
Excellent Good Average Fair Poor Total response
Frequency 34 52 8 4 2 100
Percentage 34% 52% 8% 4% 2% Average1.9%
(Table: Rating of Bikroy.com)
The table shows the rating of Bikroy.com products and services how the consumers take the
products or services of Bikroy.com and their different satisfaction level. There exist basically
five level of like excellent, good, average, fair and poor. This is the way how the consumers
think about the product or service to know by the organization. Here the researchers try to
find out the consumers satisfaction level and the overall direction for the organization. Here
we found it shows that majority (52%) of the respondents rated the service as being good
with an average rating of 1.9. The greater the consumers are satisfied the potentiality of the
organization to become more prominent in the market. It will ultimately help the marketers to
know their existence in the market. Here 34% consumers from sample said its product and
services are excellent and 52% said it’s good. After all it’s doing well in the market by its
products and services.
Q8: what do you think about Bikroy.com pricing?
Expensive Affordable Cheap0%
10%
20%
30%
40%
50%
60%
70%
80%
Respondents
(Table: Pricing of Bikroy.com)
The table shows the pricing decision of the Bikroy.com and how the consumers take the
pricing as expensive, affordable or cheap. As the pricing is the main catalyst for the
consumers as well as organization. As we discussed earlier that Bikroy.com will establish
itself as a price affordable so that majority of the consumers can afford the costs. This is the
point of difference strategy for the Bikroy.com. So it will help the marketers to know how
well the organization establishes itself through cost efficient ways. Here we can see that 18%
consumers think it as expensive but 62% consumers think the pricing strategy of the
Bikroy.com as affordable price & rest 20% consumers think it as a cheap price. So we can
very much understand that the pricing of Bikroy.com is not too high or too low and average
pricing is needed to establish itself as a brand as well targeted the consumers by its different
aspects. After all we can find out the correlation between price and their competitive
positioning.
Q9: Have you ever owned one of Bikroy.com products or used one of their services?
Frequency Percentage
Yes 58 58%
No 42 42%
Total response 100
Here the table shows the level or percentage of consumers who uses the product before and
who came first time in the organization regarding purchasing. So here we can see that 58 out
of 100 respondents came earlier in the Bikroy.com and 42 out of 100 came first time here.
Overall percentage is 64% repurchase and 36% new purchase. So here the word of mouth or
first time visit in Bikroy.com is one of the vital factors for the organization. There must have
any variable which pursue them to make purchase from here. So it can assume that their rate
of repurchasing and consumers relationship management is high.
Q10: When thinking about Bikroy.com, which of the following do you mainly associate
with?
Here we conducted questionnaire among the consumers and we get several response from the
consumers. First of all, the accessibility facility and the pricing was common factor among
the consumers. 34 out of 100 told that they prefer Bikroy.com just because of its outstanding
positioning and consumer relations.30 out of 100 thought about Bikroy.com that their pricing
is good and that’s why they recall Bikroy.com, basically price sensitive consumers are they.
36 out of 100 consumers think about ease accessibility of Bikroy.com firstly and rest of the
consumers think about the quality of service whenever they think about Bikroy.com. After all
we can see the several points which can be used as points of parity and points of different
from the competitors in the market. It will help the researchers to find out the gap and make
the right decision.
Q12: Are you satisfied to receive /get their services?
34% Positioning
30%Pricing
36% Accessibility
55%
17%
27%
Consumer satisfaction level
YesNoNeutral
The Pie chart shows that majority of the consumers purchase from Bikroy.com and 55% of the consumers are satisfied to its services. It’s all about the loyalty of the consumers how they might react on the different situations if there might happen any problem. Here we can see 17% of the consumers said that they will be reluctant to purchase from it as they are not satisfied with the service quality. Only 27% consumers are in middle position and they don’t want to say anything regarding the service quality of Bikroy.com and they might to yes or no level within shortest possible time. So we can easily understand the overall scenery of the consumers if the opposite scenery. This will help the researchers to know the consumers loyalty.
Q13: Do you think promotional activities pursue you make transaction in Bikroy.com?
Frequency Percentage
Yes 64 64%
No 36 36%
Total response
100 100%
Here the table shows the level or percentage of consumers who uses the product before and what pursue them to make transaction over Bikroy.com. Here the respondent told that yes promotional tools pursue them to make transaction at bikroy.com. Here almost 64% think that the promotional activities pursue them and rest 36% think that not promotional tools rather others tools pursue them to make transaction. There must have any variable which pursue them to come again here. So it can assume that their rate of repurchasing and consumers relationship management is high.
Q14: Are Family members/relatives has influence to make transaction over Bikroy.com?
Yes
No
0% 10% 20% 30% 40% 50% 60% 70%
RespondentSeries 2Series 3
The consumers have to have the knowledge about brand and branded products and its differences from the non-branded product. Otherwise all the efforts will be valueless that’s why researchers tried to know the knowledge level of the consumers & here 66% are aware of the service quality of Bikroy.com and that’s why they encouraged their friends and relatives to make purchase over Bikroy.com. Rest 34% respondents don’t encourage anyone to make purchase that’s why they could pursue their relatives to make purchase.
Q15: What is the first thing that comes to your mind when you think about
Bikroy.com?
The table shows the positioning of the Bikroy.com and how the consumers can recall it as
expensive, affordable or cheap. As the positioning is the main catalyst for the organization as
well as brands. Here 34% of the respondent think brand name firstly to the mind and 24%
think that they feel something like online business. 17% of the respondents think that it’s all
about transaction and rest 23% think as a source of multiple service. So the positioning
strategy is not still good enough.
Brand name 34%
online business
24%
Transaction 17%
Multiple service 23%
Q16: What is good about Bikroy.com?
Price 21%
Service 24%
Promotion 40%
Others 15%
So it will help the marketers to know how well the organization establishes itself through cost efficient ways. Here we can see that 21% consumers think it as good pricing system and 24% consumers think the service providing by the bikroy.com is well accepted. Some thinks promotion has 40% influence and others external variable has rest 15% which is good side of bikroy.com that’s why the brand is created in the consumers mind.
Q17: Why you choose Bikroy.com rather than other online sites like Ekhanei.com?
29%
33%
15%
well knownservice qualityothers
So it will help the marketers to know how well the organization establishes itself through cost
efficient ways and well brand is another important tool for the all marketers. Here
Bikroy.com is well known in the market and almost 29% of the consumers thought its
competitive benefit in the market which has happened because of promotional tools. The
service quality makes it different from others competitor is 33% and others tools make it
competitive benefit for 15%.
Q18: Are you going to make another purchase in future?
55%35%
10%
response
yes may be no
The better service quality and standard of relationship ensure the future clients mentality to make them loyal. Here 55% consumers think that they will make it happen again in future and 35% think that they have possibility to make transaction and rest 10% think that they are not going to make repeat purchase in Bikroy.com in future. Basically the repeat purchase means you have to make your customers loyal so that they can make future transaction that’s why organization need to follow strong marketing strategy and commitment to provide superior service with innovation.
4.3 Hypothesis
H0= 40% of the respondent think that Marketing strategies do not have an impact on
competitive advantage.
H1= 40% of the consumers think that Marketing strategies have an impact on
competitive advantage.
Here the level of significance is 5% or 0.05
Frequency Percentage
Brand name 21 22%
Price 18 21%
Appearance 12 13%
Marketing
strategy
45 45%%
Others 4 4%
Total response 100
(Table: consumers feedback on purchasing decision)
Here the critical value is Z = 0>1.65 or 0<-1.65
Ps =45/100= 0.45
Test statistics z=ps−μ
√π (1−π ) /n= 0.45-0.40/ 0.40(1-.40)/100 = 1.97
Source: (Self- creation)
So, here we reject H0 and accept H1 thus most of consumers think that they become
motivated to purchase for the effectiveness of marketing strategy. 40% of the consumers
think that marketing strategy have an impact on creating competitive advantage in the market
that’s why they become motivated to purchase. That’s why we are going to reject null
hypothesis and accept alternative hypothesis that means there is an impact of marketing
strategy for creating competitive advantage in the market of Bikroy.com.
4.4 Summary of the survey finding
After analyzing the survey finding we can understand that most of the consumers of
Bikroy.com are young male and female. The elder people go there but the ratio of the
consumers are youth. The young generation like school going children, college and university
students are more there. They like to spend more time on internet like gossiping with friends
and using social networking sides. Most of the respondents were young and middle income
group though there were little income group people too. Most of them were students and
some were elder too but majority were young. Most of the consumers were there because
they are loyal and they got better service from Bikroy.com. Others gone for the first time and
they hear about Bikroy.com from different sources like word of mouth, social networking,
TV Advertising & some other factors were there. But it’s a matter of fact that they are getting
right information from the right sources that why we can say that the marketing strategy of
Bikroy.com is well established and it helps the marketer to be differentiated from the others.
Majority of the consumers came here for online marketing which may be occurred by
recommendation receives from friends or family.
“The growth of internet penetration in Bangladesh has the potential to disrupt the way we
have seen internet traditionally. First time internet users and many of them using mobile
devices to access internet, would redefine how individuals and businesses connect and
collaborate online. New ideas of using internet would drive growth of online solutions for
many offline problems” (Kabir. K. M, Country Consultant, Bangladesh, Google).
Some of the consumers get message from Facebook, Twitter, LinkedIn, My-space, social
networking sites and some got message from outdoor networking sites like TV advertising,
Magazine and others sources. Here the Bikroy.com use concentrated marketing strategy to
reach its target customers and most importantly they did it successfully. Most of the times
they were successful because they tried to reach the middle class consumers and that’s why
their marketing strategy were concentrated for the middle and upper middle class people. The
marketing and promotional strategies were different from others competitors in the market
but the consumers were satisfied to the Bikroy.com which ultimately helps the organization
to gain competitive advantage or benefit in the market.
The findings also highlighted few problems that Bikroy.com maybe facing, like:
High prices and High competition:
Some of the respondents find Bikroy.com price to be high that’s why sometimes the
transaction become less though Bikroy.com has nothing in this regard. But I think if they can
maintain minimum price limit it would become more and more popular in the market. The
bikroy.com has no control over price that’s why sometimes it’s become irritating for the
consumers whenever someone charges high price.
Fewer support centers – As Bikroy.com are mainly online business firm, they needed some
practical support from the outlets where they can get more information about it. For many
customers they are not easily accessible that’s why some guys can’t really believe in online
selling.
Online ads:
The market is growing day by day and the consumers becoming dependent on online for its
outstanding effect on our daily lives. The online advertising is not adequate enough for
capturing the whole market.
Other problems
Threats have been mentioned in the literature review through secondary data information in
the form of Weaknesses and Threats.
CHAPTER 6: CONCLUSION AND RECOMMENDATION
5.1 Conclusion
The main aim of the thesis was to conduct a study on the effectiveness of the marketing
strategy of Bikroy.com for gaining competitive advantage in the market. The study helped
Bikroy.com to find out more about the segmentation, targeting, positioning, branding
strategies and marketing mix strategies which are one of the most vital factors for any
organization how they will target the market and reach the target market. Furthermore, a
SWOT analysis was conducted to find out the strength and opportunities of the Bikroy.com
and weakness and threats of the firms. This is vital for any organization to know their present
condition in the market.
The survey also helps Bikroy.com to identify its success factors that will help it to gain
competitive edge in the market. The success factor identification is a critical task but then
organization or decision maker make decision regarding the success factor. It will allowing it
to increase profit, brand power and customer loyalty proving it to be a well-known, leading
and a successful company in Bangladesh.
Survey findings were made to find if the marketing strategies of Bikroy.com is proving to be
effective or if any changes are needed to be made in the future. The literature review
consisting of the secondary data and the descriptive survey research consisting of primary
data, they both helped in fulfilling the objectives of the dissertation, which helped in
conducting a study on the marketing strategy of Bikroy.com, by recognizing the problems
that Bikroy.com maybe facing in order to improve or eliminate them. It’s all about the factors
which help the Bikroy.com to target it customers, positioned its market and differentiated its
offerings to the consumers. After all it emphasis on concentrated marketing strategy will help
itself to reach its message to the target consumers. Here Bikroy.com added some quality,
service and innovation in the service sector as well as consumer relationship management.
That’s why Bikroy.com marketing strategy was effective and it also help itself to being
differentiated benefit in the market. Overall the effectiveness of marketing strategy of
Bikroy.com helps itself to gain some competitive benefit in the competitive market.
5.2 Recommendation
Provide value for the products offered:
If a perception is created that Bikroy.com is offering its customers with the products with
better quality and assurance it will not being offered by others; than Bikroy.com will be able
to differentiate themselves from their competitors in order to still keep premium pricing for
their products. This will add more and more value to the consumers and they will become
loyal consumers to the Bikroy.com.
Conduct more aggressive promotion:
Increasing promotional programs never proves to be damaging for any firm, but only proves
to be beneficial, it not only helps to attract potential customers, but also new customers
boosting customer traffic and sales (Kumar, 2004). Today is the day of advertising and it will
allow the consumers to know the product or services. Bikroy.com should also start creating
'TV commercials', in such a way that educate the customers about the latest technological
product, making it seem more appealing. Also, they should start focusing on advertising all
products not only new products in order to meet the sales target for all products.
Make maximum innovations:
Bikroy.com should bring innovation in every sector of its business otherwise the competitors
will grab the opportunity to being better in the market. Innovative does not mean something
new invention in one sectors, it should be from all the perspective of the business like
customer relationship, product, service quality, purchasing pattern, website development etc.
Therefore, it has become very important to keep making constant innovations in design,
features and specifications in order to differentiate your product from competitive brands and
to be able to dominate the market. So, maximum innovation will lead the firm to be one of
the leading organizations in the market.
Open more Bikroy.com outlets in different areas
Since Bikroy.com relies on online, direct and retail distribution methods, it’s important for
them to expand its direct reach through its own stores and retail stores by locating stores in a
more reachable district, like residential areas so that people can have an easy access to the
service point. It will create more brand loyalty of the products and they will try to have more
service from the products. It will contribute to their bottom line and increase brand
knowledge among the consumers.
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Appendix:
Survey Questionnaire
(A survey questionnaire to know the consumers attitudes and perceptions regarding online selling specially how they are getting informed and inspired to making online purchase. A case study on Bikroy.com how consumers getting informed and their perception for this side)
Name of the Participants: ………………………………………………Gender: Male; Female………….Profession: …………….……………Income: ………………………………….
1. Are you Familiar with e-commerce or e-business?
a. Yes b. Partial c. No
2. According to you, is e-commerce suitable or traditional business model for your facilities?
a. Traditional b. E-commerce
3. How do you pay to buy products /services?
a. Online payment b. Other
4. Are you satisfied to receive /get their services?
a. Yes b. Partial c. No
5. Have you ever heard the name Bikroy.com?
a. Yes b. No
6. How frequently you are used to make online purchase?
Infrequently Very frequently1 2 3 4 5
7. What is your age limit? a. 0-10b. 10-15c. 15-20d. 20-25e. 25-30f. 30+
8. What makes Bikroy.com different from others competitors in the market? a. Name b. Promotionc. Easy transaction d. Reliabilitye. Others
9. Do you think promotional activities pursue you make transaction in Bikroy.com?
a. Yesb. Noc. May bed. Don’t know
10. Is Bikroy.com service quality is good enough?
1. Strongly Disagree 2. Disagree 3. Uncertain 4. Agree 5. Strongly Agree
11. is it easy to make purchase over Bikroy.com?
1. Strongly Disagree 2. Disagree 3. Uncertain 4. Agree 5. Strongly Agree
12. Is Bikroy.com helps us to save time?
1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree
4. Agree 5.Strongly Agree
13. Are Family members/relatives have influence to make transaction over Bikroy.com?
1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree
4. Agree 5. Strongly Agree
14. Are Mass media (e.g. TV, newspaper, articles, Radio) influenced you to use Bikroy.com?
1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree
4. Agree 5. Strongly Agree
15. What is the first thing that comes to your mind when you think about Bikroy.com?
a. A website b. Online business
c. something transaction
16. What is good about Bikroy.com?
a. Name b. Service c. others
17. Why you choose Bikroy.com rather than other online sites like Ekhanei.com?
a. Easiest process b. Most popular
c. Ads campaign d. Others
18. What is your income level?
a. 10000-15000b. 15000-20000c. 20000-25000d. 25000+
19. How did you come to know about Bikroy.com? a. A friend, relative or acquaintanceb. Bikroy.com websitec. Advertisingd. Agent storese. Online sites like Facebook, Twitter etc. f. Other (please specify)
20. How satisfied you are with your overall service from Bikroy.com in scale of 1 to 10 (10 being VERY SATISFIED)
Level of Satisfaction 1 2 3 4 5 6 7 8 9 10