Identify an existing start-up business/ new venture and reveal their marketing p

Question

Identify an existing start-up business/ new venture and reveal their marketing plan based on below criteria.

Refer the chosen new venture/ start-up business website for key information related to marketing plan and strategies. You also encouraged to visit the organization and or conduct an interview with the key decision maker (Not Mandatory)

Identify the key marketing strategy of the new venture and write a brief. For example - a brief on the target market and their behavior; pricing strategy (cost-based/ value based pricing) of the new venture and its appropriateness

Explanation / Answer

The start-up that we would be discussing here is Grofers, it is a recently started online grocery entire that claims to deliver the best quality food products in the shortest possible time duration at the door step of the customer.

The key marketing strategy is to give initial discounts and earns only 2% to 3% profits and make the customers use the application and get comfortable with it. The immediate aim is to attract more and more traffic so as to ensure that people are using the application and word of mouth promotion is also done. Once this is stabilized the profit margins would be increased and the business strategy would be changed.

As of now the cost based pricing is used, the invested cost is added with 2-3% of the profit and the services are given. This will change after 9 months as per the CEO of Grofers. From the very beginning they have adopted this pricing strategy and no alterations have been done in the initial plan.

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