Are you curious to know how Flipkart manages to generate revenue through its marketing strategy? In this article, we will discuss how Flipkart makes money and gain insights into its marketing strategy.
Flipkart’s marketing strategy includes an Intended audience, A facility for replacement goods, an EMI Facility, Offering gift certificates, Discounts, a System of distribution, a Simple Interface, Added payment options, Inventive ads, and E-Wallet Support.
Discover how Flipkart has become a prominent player in the Indian e-commerce landscape. To learn more aboutFlipkart’s marketing strategy, keep reading the article.
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Flipkart’s Marketing Strategy: Concepts Explained
Intended audience
Anyone who uses the internet to browse but lacks time to shop is the target market for Flipkart. Although its target market is dispersed throughout several market sectors since customers from all demographic backgrounds can find products that pique their interest, 75% of its audience falls between 16 and 55.
It focuses on clients who desire choice and a straightforward online shopping experience. Every place in the nation where deliveries are feasible is included in its efforts to expand its services.
It develops clever marketing techniques to grab the interest of its audience and encourage those with purchasing power that online shopping is superior to traditional shopping.
A facility for replacement goods
If a client receives an inaccurate or damaged product, Flipkart also provides a product replacement service, crediting the total purchase price to the customer’s bank account within 2 to 3 days. This strategy is essential if you want to remain competitive for a long time and fosters customer trust.
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EMI Facility
Flipkart offers EMI facilities to price-conscious clients and middle-class families that are hesitant to make significant purchases, such as smartphones, LED TVs, home appliances, and many other items.
Using the EMI facility, they virtually persuade the customer to buy, and it also fosters a sense of trust among potential customers in the future.
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Offering gift certificates or coupons
Flipkart provides gift vouchers and discounts to customers who make large purchases, which they can use to save money on subsequent purchases. You might think Flipkart has lost out, and I agree that they have lost out.
However, in the future, it would undoubtedly produce an excellent profit for Flipkart because these gift certificates and coupons are growing customer involvement with the company.
Discounts are available
One of the most potent marketing strategies for expanding the clientele is the discount option. Everyone wants a deal, affluent or poor. Thus by giving clients a discount, you can turn them into lifelong customers. If a business offers a discount, it will dominate the market later.
Flipkart also succeeded in becoming the dominant force in the online industry by using this marketing tactic.
System of distribution
Flipkart has more than 20 warehouses that can quickly move products to customers. The critical marketing tactic is picking a reliable and efficient chain of distribution.
Simple Interface
One of Flipkart’s essential marketing Strategies is to have an interface that is simple enough for even a young child to use and make purchases. This is because it is evident that a client would never return if there were too many stages and procedures involved in purchasing any item.
Added payment options
In the USA, many individuals in urban and rural areas do not have access to these payment methods and can only make purchases in cash. This is because many valuable online companies or services, like Netflix and Amazon Prime, accept payment by digital or credit/debit card.
In this case, Flipkart takes action by offering a cash-on-delivery option so that more people can shop on Flipkart. It is among the most effective marketing tactics for expanding consumer bases.
We advise you to check how to improve CMX (Customer Experience) Strategy to learn more about customer experience. Flipkart accepts almost all forms of payment.
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Inventive ads
Flipkart is now producing innovative advertisements for its expansion; these commercials attract viewers’ attention and remind them of Flipkart. The child actors in these commercials resemble grownups and behave like fully grown men and women.
One of the original marketing techniques that no other company has ever used by Flipkart.
E-Wallet Support
In addition, Flipkart offers its customers the option of using an e-wallet to make payments effortlessly, including phone recharges, water and energy bills, taxes, train and aircraft tickets, movie and event tickets, and other types of tickets.
Flipkart made a wise decision as well.
FAQS
Which form of advertising does Flipkart employ?
You may advertise your products to millions of customers daily using Flipkart Advertising, a performance-based marketing solution.
Why is Flipkart so prosperous?
To address this, they added the Cash on Delivery payment option. One of the first eCommerce businesses, Flipkart, offered its consumers the option of paying cash on delivery. This feature was well-liked by customers, which helped the business grow.
What issues is Flipkart now dealing with?
Flipkart found itself amid a storm with the potential to lose its top position in the Indian online retail sector to rival Amazon due to a lack of funds, significant losses, fierce rivalry, a management shuffle at the top, and stricter governmental rules. However, Flipkart's Marketing Strategy makes the platform more accountable and answerable to the customers.
How does Flipkart differ from its rivals?
Flipkart has grown in these two categories because the e-tailer carefully positioned itself as a mass market platform, focusing on value products that are more reasonably priced and accessible across categories. This has aided in giving Flipkart a stronghold in tier 2, tier 3, and other areas.
Conclusion
The fact that firms like Flipkart have huge pockets and can make their marketing efforts come to life doesn’t hurt, but the company’s marketing strategy is vital. Flipkart’s Marketing Strategy led to its success, and Flipkart excels at communicating clear messages across platforms. Here are the key lessons I learned from Flipkart:
- India has immense star power and an influencer marketing industry.
- Flipkart also prioritizes graphic advertisements heavily.
- The best advertising is those that run across several platforms.
- Experimenting is always beneficial, and Flipkart is not afraid to do it.
- The client is king.
