CUSTOMER SATISFACTION & MARKET POTENTIAL A SYNOPSIS ON SUMMER INTERNSHIP PROJECT ORGANISATION:

CUSTOMER SATISFACTION & MARKET POTENTIALA PRESENTATION ON SUMMER INTERNSHIP PROJECTFor E4 Summer Project Competition

ORGANISATION:

BY: Rajat Seth (M-75)

Under Guidance Of Prof. D.K Sakore

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About Viral Mint

ViralMint helps online businesses acquire new customers, improve conversions and build engagement using the power of social media for both web & mobile!

Kart MintPush MintBuddy MintOffer Mint

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Objectives 1 Primary Objectives To find out new potential market To find out existing untapped segments To Do market research & find out potential prospects To take feedback from customer who are using free trial Subscription to know:Liking of the productWillingness to take paid subscription2 Secondary ObjectivesTo Generate Demand Business development

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Research Methodology

Market Potential (Out Of India)Research TypeField Research (Qualitative Method)Universe/PopulationAll countries having e-commerceSampling UnitA country having e-commerceData Collection TypeSecondary

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Customer Satisfaction (For Indian Clients)Research TypeSurvey (Quantitative Method)Sampling MethodNon Probability Convenience SamplingUniverse/PopulationAll e-commerce company in IndiaSampling UnitAn e-commerce companySample Size43Data Collection TypePrimaryInstrument UsedQuestionnaire

Key Observations

Market Potential (Out of India)

According to a survey by NVP, only about 3% of worlds population buy online, but rate at which the value is growing is much fasterCountries like Australia, U.S.A, U.K & many other European countries have a large amount of population buys online Australia & South Africa are two countries where very few companies are developing tools to help e-commerceCountries like India, Malaysia, Singapore etc. dont have much population buying online but the rate at which online buyers & e-commerce growing in these counties is very fast

Customer Satisfaction (For Indian Clients)

The products gave an average rating of 3.5 out of 5 but in order to increase their business they should also concentrate on other segments of e-commerce like Tours & Travels, booksellers etc.Kart Mint & Offer mint are the most celebrated products of Viral mint with the average rating of 4.2 & 3.6 respectively out of 5. Clients other than apparel & multi product, found products not fit for their use so they want some customization in the products according to the industry In suggestions many clients ask for new traffic feature

Other ObservationsTarget segment of viral mint are those websites whose traffic is less. It is evident from analysis that 75% of websites have traffic less than 50,000

Cross Analysis of Category to Monthly Unique visitors

Usage Of Products

BCG AnalysisHIGHLOWHIGHLOWBusiness growth RateRelative Market Share

Kart MintBuddy MintOffer Mint

Conclusions: Market Potential (Out of India)

South Africa, Singapore, Malaysia & Australia are countries with high potential so viral mint is targeting them initially.According to the latest reports on NVP ecommerce is at boom in all parts of world countries like South Africa, Australia have some higher traffic than rest of the world.According to Alexa & webtrafficspy, Malaysia & Singapore have a higher growth rate of traffic.Viral Mint is targeting mid segment of these countries e-commerce companies with monthly visitor less than 1, 00,000. They decided to target the giants later.

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Customer Satisfaction Survey (For Indian Clients)

Viral Mint is more concentrating towards e-commerce website selling Apparel & Accessories & less on the other major e-commerce segments like: E.g.: Tours & Travels, Electronics, book sellerAccording to customer perception Kart Mint & offer mint are the most celebrated products of viral mintClients are satisfied with the bounce rate reduction. But clients are demanding features for pulling new traffic.Variable price models like pay as you go, prepaid, post-paid make an attractive option for any big as well small e-commerce company.According to survey clients are satisfied with Technical Support

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Recommendations

Concentrate on other categories of e-commerce websites also like Book seller, Grocery, Tours & Travels etc.Along with the start-ups and small & medium level players concentrate on giants like fipkart.com, amazon.com, Zappos.com etc.There should be customization in the tools for different categories of e-commerce websites, it will attack the clients more.Tools should focus on pulling of new traffic which are the major demand of every e-commerce companies. There should be some outbound marketing activities to make company name viral like: google advertisements, participation of e-commerce trade fares, paid stories etc.

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Contribution

Identified potential markets to expand.Found out the key problem areas of non conversion of clients from free trial subscription to Paid subscriptionFound out the areas of focus for the company in order to get a better growth rate like less concentration on giants, concentrating on only apparel & accessories segment of e-commerceFind out the ways to make company name go viral like: Google adds, Paid stories

Key Learnings

Primary ResearchSecondary ResearchTelephonic Cold CallingAbout Social Media marketing

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