Category: Strategy

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Strategy

Atmanirbhar Bharat Is About Creating Globally Competitive Enterprises, Says PM Narendra Modi

Narendra Modi (Photo Credits: Facebook)

New Delhi, October 28: In a major boost to the government’s ‘Atmanirbhar Bharat’ initiative, Prime Minister Narendra Modi called upon exporters to create ‘globally competitive’ enterprises in India in the spirit of his flagship mission. In his message to the EEPC India, Modi said that the ‘Atmanirbhar Bharat’ is about creating globally competitive enterprises in India. The four-day virtual expo opened on Tuesday.

The Prime Minister made this announcement during the inauguration of the engineering exporters’ apex body, EEPC India’s first virtual exhibition, ‘India Subcontracting Expo 2020’ for overseas buyers. During his message, the Prime Minister conveyed that science and engineering have a major role in realising the objectives of the ‘Aatmanirbhar Bharat’ programme.

The Prime Minister said that India is creating the right ecosystems for local manufacturing and supply chain. Modi said that technology has become an enabler in the wake of challenges posed by the COVID-19 pandemic.” Digital tools have guided and helped in transforming such challenges into opportunities. The world requires skilled hands and we in India have the talent to cater to these global needs,” he said.

According to EEPC India, as many as 100 engineering exporters would be showcasing their products and technologies to major buyers from Europe, including the UK through a virtual exhibition, seeking to bag manufacturing contracts, giving a boost to the ‘Make In India’ and ‘Aatmanirbhar Bharat’ programmes.

According to a report by IANS, the virtual exposition platform sports several features like 24×7 access for buyers and sellers, virtual B2Bs, chat rooms, among other. Besides, the CXO Forum would be held with a theme-India-EU advanced opportunities for business cooperation in COVID-19 world.

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Process & Business Expansion Strategy

2020 Entrepreneur Trends For Business Expansion

As an entrepreneur, one has to be ready to adapt to the changes happening in the business world. The faster you adopt the change, you will able to establish your brand. As per your thought process, the idea you had must be great only due to the rapid changes the idea can get submerged or can come out as flying colours.

These changes can be bases on the political landscape, economy, technology, and social changes that can boost or kill your idea. As an entrepreneur, one needs know-how competitive the business industry is. In this case, to stay ahead, one needs to be updated with the latest trends. These trends can be in terms of technology, work culture, or operations.

Therefore, by keeping this in mind, mentioning a few trends that as an entrepreneur can help you to grow. These trends will help you, team, or business in the coming years and beyond.

Build Your Business as Part of The Economy

As a business owner, you should always remember how you are giving inputs in the country’s economy. You must understand the circular economy, a business model in which you benefit the business society and the environment.

When you are the owner of a new start-up, it will be easy for you to follow this model as in the later phase, it can be difficult to incorporate the model. Once you follow this model, then it can help you to achieve a great advantage over the competition.

Work on Global Path

When you plan your business, always plan to work on a global basis. Once you start thinking about the global growth, don’t think only about your product or services, but also when you create a team, make sure it has diversification in terms of education, nationality, gender, and experience. It will help you to become innovative and built a strong foundation for growth.

For reaching your destination, you need to start taking steps towards it. So, if you dream of catering to a global market, then, you need to plan this from day one, and it should reflect on your action and planning.

Innovation Is The Secret to Growth

As a business owner, one needs to keep working on a new opportunity for growth and expansion. Innovation is your best friend in this case as it will help you to create a better product or service but also help you tell to sell it to the right target market.

To have an advantage over the competition, you need to make innovation a priority, as it is the best chance to remain in the industry and help you to have the business grow.

Use Of Technology For Operations

You can play safe and smart by using the right technology. Tools that save time helps you to accomplish the goals with fewer resources only. These technologies will help you to streamline work, correct use of resources, and have better results.

These steps help you to grow your business and bring more focus to the team working better in the right direction.

As an entrepreneur, we understand you have many tasks to finish, but keeping yourself updated with these trends is important for you and your business plus your team. To expand your business and stay in the competition, you need to focus on the right things and at the right time

 

 

 

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Strategy

Four Possible Threats That May Affect FMCG Sector In 2020

Who doesn’t know Fast Moving Consumer Goods or FMCGs? It is one of the sectors which have a strong position not just in India but also in the global economy. FMCGs are those products that deliver a short shelf life and a high rate of selling.

Thus, only FMCG retains many business opportunities. 2020 may have been the year of surprises and shocks, but it’s been a year of technology. This year will ramp up with technological transformation. Companies will be concentrating on more operational efficiencies basically, for slow consumption on the rural market. Platforms like retail intelligence will use the technology pack to use the data insight for meeting the production to use the balance. They’re a lot of attempts made to bring satisfaction among retailers and consumers.

While the market remains to grow at a rapid pace, the Indian Retailer gets a look at threats that may affect the FMCG industry. Let have a look at the threat faced by the FMCG industry.

The Threat of Getting Replaced

In the market, one product has more than five brands to cater to the consumer, and it’s very comfortable for them to choose or switch from one brand to another. Consequently, brand owners need to work on the strategic decision, price, and quality at the same time to cater to the audience.

Some products have a small difference between them. Therefore, it is not difficult at all for the user to take the decision changing them from regular product to another. Thus, the threat of getting replaces is real, and it cost us enough when the consumer does this. Hence, brand owners need to work on both an immediate and long-term plan for attracting buyers to stay with you.

Brand Rivalry

With changing time brand not only expanding themselves, but getting into new geographies with new categories to touch new modern retail market. We all are brands like Wipro, Patanjali, and many more are diversifying and expanding their product range to cater to each group with varieties. As we know, the FMCG industry is highly fragmented as more companies enter the market.

This brings huge competition and tough times for weak brands in the market to stand. They need to work on price with the product’s quality and great deals so that they can stand big competition.

Transaction Power of Buyers

Increasing incomes and young growing population have been key growth drivers of many sectors. With low-cost products attract customers to switch to other brands. Thus, the brand owner needs to cater to more demand with a new product range.

This can only be achieved only by a strong influencer of marketing strategies to get the consumer to stay with your brand. For sustaining, the customer brand owners need to reach a firm decision on how they stand up with cheap brands without losing the quality of the product and customer.

The Threat of New Players

Every new competition in any sector gives threats to any existing brands in the market. An investment plan approval by foreign equity in single-brand retail and 51% in multi-brand retail give new brands a chance to enter the market and results in making the market crowded and full of competition.

That also leads companies to spend aggressively on the adverts and other promotional plans that can hurt the brands in the long run

Every industry has it their kind of benefit and threats which, you need to cater to changing times. These threats will help you to quiver up the problem and help you to face them with the thought process.

 

 

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Business motivation Strategy

5 Smart Tips For Happy Customer In Festive Season 2020

The festive season means holiday time. It’s that time of the year when families, friends, and relatives come together to spend joyous moments. This auspicious time means a good reason to shop and enjoy the time of the year. All thanks to COVID-19, things will be a lot different.

COVID -19 has already taken seven months of the year and might take over our festive season too. To fight this, retailers, e-commerce, and different brands are trying to gear up in advance. Our country, which is a land of diverse cultures, has plenty of scope in playing with themes in each festival.

Therefore, it’s now time to create your plan and start building festive marketing ideas to please your customer.

Make Customer Experience Delightful

The festive season stands for a joyful time of year, and in a year like 2020, everyone needs a dose of happiness. The brands, easing out customer stress by providing a great experience. You can accomplish by giving great offers and deals.

Hence, plan your strategy around customers’ benefits and experience. Thus, when you create a piece of content for the festive season, ask yourself how it will benefit and help your customer.

Express Gratitude Towards Customer

Every festive season your customers have n number of options to browse. An excellent strategy includes maintaining a customer-dedicated and loyal towards your brand by focusing on gratitude.

Being on top-of-mind of your customer, you need to show them how valuable they are for your brand. Thus, try to showcase gratitude to them by sending a thank you email or physical card that can drive them towards your brand.

Free Rewards

We all love gifts while buying for our loved one, while we still get drawn into the idea of buying something for ourselves. That’s why giving free rewards on the purchase is such compelling in the festal season.

By this strategy, one can invite your customer to buy your product and come again to your brand to gain more rewards. These rewards can be in the shape of gifts or make free shipping. Highlight your deals and free promotions in the festal season.

Reach Back to Your Customer

Its fact that all the customer comes to your website, but they leave the website without making any purchase. With a Remarketing ad campaign and retargeting through email marketing, you can reach them. If the user provides you with their email, this will remind the reader that their cart still has an item in it.

In Remarketing ad campaign focuses on the customer who visited your site. So, make sure you give proper attention to your website stability.

Look for Touching Shopper Emotions

The festive season brings a mix of emotions, from excitement to nostalgia. A great marketing strategy makes sure to touch these emotions to bring customers near to your brand.

Therefore, make sure you have this factor include in your marketing plan.

With some planning and using good research, you can develop a great festive marketing strategy to touch your customer and your seasonal sale upward. By offering a personalized touch in your marketing plan, you can make your brand stand out in this festive season

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Startup Strategy

Startup Growth Strategy: Follow These 4 Steps to Sustain in the Competitive Market

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, October 20: Starting a company is not an easy task and one of the most important things is a strategy. You need to have a robust strategy in place for your startup to grow.

It is a very difficult and competitive space for a new company to establish itself. According to a report on the Entrepreneur, 50 percent of the startups fail every year and only a few manage to survive for more than five years. The ones who succeed for a longer time in the market can do so by creating a startup growth strategy.

Check Startup strategies shared by Dr Vivek Bindra: 

Today, we will talk about 4 steps to develop your startup growth strategy: 

Create your vision statement

When you are starting, create a vision statement where you would like to see your company in the future. Dream big, aim big but is also very important to remember that there are various restrictions in the form of budget and other resources, unlike a big company. But, if the focus is right, you will soon be able to achieve it.

Own your strengths and weaknesses

Identifying your strengths and accepting your weakness will help you to sustain in the market for long.

Determine your positioning in the market:

You must have an understanding of your business. You must know, what sets you apart from your competitors.

Keep a check on your competitors: 

In the age of digital media, a consumer is bombarded with numerous information from various sources. Very few manage to stick on to the mind. Therefore, it is very important to check on your competition and never underestimate them.

These strategies will help you to increase sales of existing products or services on existing markets, and thus will help in increasing your market share. They will also create a strong brand recall.

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Startup Strategy

Right Marketing Strategies And Tips For Attracting Franchises

Franchise business is one of the great opportunities, which has profited scope and its trending as well. There’s only one risk associated with this business if you can find the right franchise partner.

Whenever we talk about procuring new customers, we have a lot of experts around us, but finding the right partner for a franchise is a difficult task. Having a suitably qualified partner who can operate your franchise can be a definite challenge. Looking for the same minded person who can showcase your brand as you want is tough, but not impossible.

Therefore, we have some tips with which you will be on the right path to find a franchise partner.

Brand Positioning of Your Brand As An Expert

Creating your brand as an expert in the marketplace is far different from creating brand awareness. As a brand owner, your foremost focus should be on enhancing industry knowledge as a resource for the others. For this, you need to make efforts to join the webinar, round tables as often as possible.

You need to ensure on stand out and provide more to your target audience than your competitors. Therefore, you need to be honest, clear, and consistent. It will help you to build trust and establish as an expert in the marketplace.

Be Appealing to Franchises

Never let down your franchise partner by putting the right scalable systems to support. Treat your partner as equal, let them be privy to the inner working of the company, and offer them support programs with good communication to keep them engaged with your brand.

Building Strong Communication

For building strong communication with franchises, you can leverage your social media network and digital communication platforms. By providing all kinds of information to them can help you attract and convert prospective franchises into new partners.

When you provide support and solve the queries by current partners through social media channels, it will showcase your strong communication skills to your new partners.

Building Strong Online Presence

Just finding the right franchise partner should not be the only goal of yours. It doesn’t refer to simple branding and corporate messaging, but also building a strong story for your brand. Your aim should be to share your philosophy, ethics, and your vision behind the brand.

The best idea to support creating a separate web page on the current website to share or talk about the franchise partner. It can have all the details for signing up a new partner to the testimonials of the existing one.

Creating a Strong Marketing Strategy

Building a strong marketing strategy can be beneficial to acquiring a new franchise and doing the happy existing one. A strong brand name with efficient advertising and strategy is what is required at difficult times like COVID-19. Include SEO, organic search optimization in your marketing plan.

Finding the right franchise partner can excel in your business growth. For that, you need to work on the correct tips for marketing strategies to attract franchises on board.

 

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Strategy

Learn to Make Happy Customer With These Easy Customer Engagement Tips

The customer is king! No business can be successful without the help of customers. Therefore, engaging your customer is a significant part of growing your business. Customer engagement doesn’t define as just selling the product or providing services. It means improving the customer experience through interaction and efforts.

Now the question is how you can achieve this customer engagement? You can create customer engagement by the various channels, from social media platforms for your company. The main idea is to maintain and extend to grow your relationship with your customer.

The benefit of building a customer engagement marketing strategy is essential to build a strong relationship as an engaged customer is a loyal customer.

Let discuss a few customer engagement tips when developing your customer engagement strategy.

Keep the Customer Lifecycle Moving

This life cycle is the relationship of the customer with any brand or company. As a marketing manager, the main aim should be to make this lifecycle as flourishing as possible. It can be done only by the process of maintaining a customer journey because it is beneficial to your brand and customer equal.

You can do this by procuring the customers, keeping up their interest in the brand elongating the relationship beyond a single purchase.

Smart Use of Available Data

Available information about customers can help you in many ways. There is a surplus of information for marketers, which they tend to ignore that while crafting customer communication or some campaign. At this time, when digital channels’ growth is rapid, this information can help you plan things around the data available to the customer.

Don’t Ignore What is in Front of You

Sometimes in terms of expanding ourselves, we tend to ignore things that are right in front of us. With the help of the latest tools and social media analytics, you can understand the insight of your audience’s thought process towards your brands. For knowing more, you can always run a loyalty program, social media interaction, and poll or surveys that can be beneficial for obtaining the insights you need.

Creating your Brand Voice

Brand voice represents your business’s image. Your brand needs to preserve and keep up this image in every post you share or blog you write. This image is will brand representation in front of your client.

It is one of the significant factors because this brand voice represents your values. Brand voice is something that assists you in creating trust and connection between you and the customer.

Make Social Media as Your Connecting Tool

Social media channels like Instagram and Facebook are the perfect platform to have customer engagement for your brand. It is a platform where you don’t connect with your existing customers but attract new customers.

If you haven’t made your business account on these platforms, then you are missing opportunities. Starting, something for engaging customers to create a chain-like tag a friend or repost the post which has your product in it. That will start a chain that leads to having more trust and loyalty.

There are several ways that are used by many brand owners to boost customer engagement which can be great benefits for you. Creating customer engagement strategies will not only establish brand loyalty but also help you to drive sales organically.

 

 

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Strategy

7 Tips To Make You Successful Small Business Owner

Business Ideas

In current times to succeed in business, a good business owner needs to be very flexible and have the skill to handle every situation. It is an assumption that you need to turn yourself into computers, or you will start making money as your business get into the market.

Assuming things might be wrong, but the above assumption can completely turn out to be true if you don’t balance and plan out your work. There are necessary moves you need to make to achieve the road to success. This road map can set for any kind of business you have. Therefore, start using the tips that can help you to be successful in your venture.

Be Organized

For achieving success in any aspect of life, you need to be organized. Therefore, being successful in the business, you need to be organized as the first step. For doing this, you need to start by creating a to-do list for each day. While finishing each task, check it off your list.

This process will help you not to forget anything important for that day, and you will be able to fulfil all essential steps for the survival of your venture.

Recognize the Risks and Rewards

The key to any success is to calculate and understand the risks which can help your business expand. Figure out what can be the worst-case scenario, if you can figure out this then you can work on it. That can help you calculate the risk that can later help you generate reward out of it.

Figuring out the risk and rewards is a smart step before starting your business.

Learn To Be Creative

The key to success in your business is to have a chance of improving. Always gives your best to stand out in the crowd of competition. Be open to new ideas and innovation for your business. Creativity should be in a manner to express your product feature but, don’t do overdo the terms of showing creativity.

Be Focused

Being focused on the goal is a significant feature for business building. From the day you thought about the idea of business, so make sure when you work on your long-term and short- term, goals

Don’t Be Scared to Make Sacrifices

Every business needs a lot of hard work and passionate but once you start your business your work just started. So, while working on it you need to make little sacrificing like spending more time at work, you may feel professional life is taking over, but in the beginning, you need to bear it and later you just need to create balance.

Always work on the Providing Good Service

The customer is god, it’s an old saying, but it’s not completely wrong. Providing great service is important to your brand. The benefit of providing happy services will bring your customer back to you again, instead of going to move towards your competition.

 Never lose Consistency

One of the secrets of success is to be consistent in any business. That’s true, it’s important to keep doing what is necessary to be successful. This will help you to create a habit of long-term mindset and success.

Just thought of starting a business idea will not work until you work on how to take the plan out it. We have mentioned a few simple steps which can help you in business planning and strategy.

 

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Startup Strategy

5 Latest Business Development Trends of 2020

एंटरप्रेन्योर
एंटरप्रेन्योर

2020 is half passed, and still, if you have not noticed the new business development trends, then pull up your socks and start working on it. A lot of new trends like personalization to advances in AI trends are taking reshape these trends will help you in increasing the sales and growth of your business.

The digital introduction has helped to create personalized interaction to build a relationship with the customer better than before. For uplifting your business strategy, we mentioned new business trends that will impact your business growth.

Mobile Internet Advances

This year promises additional movement in making mobile connectivity more reliable and more durable by introducing the 5G arena. We are quite sure in the coming year; many cellular networks will introduce this service.

Introduction to this service will make it a lot easier to reach the customer in remote locations. There is the scope of a lot more services introduction, which you should keep an eye on.

Brand Collaborations

Today customers, are highly spoilt and confused with the choices between India and international brands. Now for reducing this confusion given by online and traditional platforms, business owners have started focusing on brand collaborations with brands locally and internationally. That will bring great business opportunities to brands for growth.

It is just not only helping brands, but it is helping consumers to get a structured services model, as a result of its winning situation to both.

Adoption of Data Centre

With the higher use of technology, the amount of data that passes through customer have also increased. Therefore, the need for the data centre has increased, whether its small or big company is using the data centre in a small or big way. Cloud-based computing is known by many but expected that the need for more storage is going to come very soon.

Therefore, all companies, from startups to the big players, will have their own personal data centre.

Machine Learning and AI Introduction

With time machines are getting smarter, which is leading opening for new jobs. A lot of employees are scared to lose to the job due to the high demand for machines, but smart companies will aim to retain their best employees and train them to be better at work.

For any business growth investing in the new technology will be a significant part of matching up the industry standard and gaining one step ahead over the competition.

Diversification:       

In the coming time, expected that brand owners are going to focus on the newest trend of diversification, where owners will be opting for multiple businesses that will be different from the main business.

Aside from setting their business skills, this trend is supposed to bring and offer the greatest business opportunities to brand owners.

Our country has already demonstrated immense business growth potential in the past few years. With the change of technology is the business world ready to change and accept new trends. These trends are going to have a huge impact on growth. We have mentioned a few trends which can help you to grow your brand.

 

 

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Business motivation Strategy

5 Incredible Tips For Entrepreneurs For Success

कौशल विकास प्रशिक्षण
कौशल विकास प्रशिक्षण

As you gear up to restart your business in Unlock, every new business owner is nervous and excited at the same time. Entrepreneurship is not an easy cakewalk. It requires a lot of patience, motivation, hard work, and focus. Every entrepreneur treats his idea as a child, which he develops with a full heart.

But we always wonder what qualities or mindset, one needs for being a good entrepreneur. Starting a new business is going to take everything you have got to make it successful. You have a great idea, a strong work ethic, and determinations are two things you will require it most. So, we are here for all the new and old entrepreneurs who want to kick start their business or startup in this unlock with great tips that can help excel your business.

Learn Something New Everyday

Learning will always help you to keep your mind fresh, and knowledge will sharpen your skills. So, start to dedicating your time to learning new things. Running a business is a Tuff process with everyday new additions, which means you need to be updated and well-skilled to face new challenges.

Learning will help you to create new ideas and come up with new innovative answers to your challenges.

Passion The Success Key

Passion is one thing that keeps you going, as it motivates you to face the obstacles. The thing you do without being passionate it bores you up soon, and in the end, you lose interest in it. Without passion, entrepreneurship will turn your business into another job, which you do only to cover your bills.

So being a successful entrepreneur, you need to fire the passion inside you and work hard on your idea and their business. As an entrepreneur, you need to sacrifice, and if you love for your work will give you the enthusiasm and the motivation for success. That’s why its said passion is the success key.

Strengthen Self-Confidence

It is an old saying that you must believe in yourself! Self-doubt is the biggest challenge in any entrepreneur’s life and which they try to overcome. As a human, to self-criticize, and this makes us doubting our idea.

Self- doubt limits the entrepreneur mindset that keeps them to showcase full potential. Developing self-confidence will help you create and work hard more freely, but it will inspire people to work harder and believe in themselves.

Start Challenging Yourself

Challenges are something that helps you to grow and learn at the same time. For every successful entrepreneur, they have to challenge themselves. Nobody can push you to face the need to face it yourself.

As an entrepreneur, you need to be quick and on your toes. Being an entrepreneur, you always have to be prepared for the next challenge.

Take Baby Steps

Making an empire and being a successful entrepreneur can be daunting. It is tough, but not impossible, so we have a solution for it that, is to break it down and takes baby steps.

Once you have broken it down, take them one at a time. Once you start doing that, you will realize you have crossed half mountain. With courage and perseverance, baby steps will take you towards becoming a successful entrepreneur.

Being an entrepreneur, you need to make sure you have a good sleep it will rejuvenate and boost your immune system. Success in business doesn’t expect overnight success. As we have demonstrated only four tips, you have to take a long-term strategy and take baby steps until it becomes a success.