A

PROJECT REPORT ON

MARKET RESEARCH OF YAANTRA IN TERMS OF NEW RETAILER AND

EXISTING RETAILER

SUBMITTED BY

SHASHANK SUNIL KUDALKAR

MMS - MARKETING

ROLL NO: 171146

IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF MASTER OF

MANAGEMENT STUDIES

BATCH- 2017-19

UNDER THE GUIDANCE OF

PROF. CHRISTINA SHIJU

PILLAI INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH NEW

PANVEL, NAVI MUMBAI – 410206
PILLAI INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH NEW
PANVEL, NAVI MUMBAI - 410206

A PROJECT REPORT ON COMPLETE STUDY OF

MARKET RESEARCH OF YAANTRA IN TERMS OF NEW RETAILER AND

EXISTING RETAILER

SUBMITTED BY

SHASHANK SUNIL KUDALKAR

MMS - MARKETING

ROLL NO: 171146

IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF

MASTER OF MANAGEMENT STUDIES

BATCH- 2017-19

UNDER THE GUIDANCE OF

PROF. CHRISTINA SHIJU

CERTIFICATE FROM ORGANIZATION
 CERTIFICATE

This is to certify that the summer internship project titled “Market research of YAANTRA
in terms of new retailer and existing retailer” is successfully completed by Mr. Shashank
Sunil Kudalkar during Semester III, in partial fulfilment of the Master's Degree in
Management Studies recognized by the University of Mumbai for the academic year 2018-19
and represents the work done at YAANTRA. This project work is original and has not been
submitted earlier for the award of any degree / diploma or associateship of any other
University / Institution.

Name: PILLAI’S INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH.

Date: ______________________ (Signature of the Guide)

 DECLARATION

I hereby declare that the Summer Internship Project Report, prepared by me under the
Guidance of Prof Christina Shiju, is a bona fide work undertaken by me and it is not
submitted to any other University or Institution for the award of any degrees / diploma
/ certificate or published any time before. I also declare that the report is free of any
plagiarism.

NAME : Shashank Sunil Kudalkar

Roll No.: 171146 Signature of the student

 ACKNOWLEDGEMENT

I would like to thank the Mumbai University for having projects as a part of the MMS
curriculum.

It gives me great pleasure or satisfaction for the successful completion of this project. Every
successful piece of work has many invisible helping hands with their invaluable support and
inspiration. For the completion of my project report many people directly or indirectly
assisted me. I wish to express my heartfelt gratitude to the following individuals who have
played a crucial role in the making of this project.

At first, I would like to express my sincere thanks and deep gratitude to my esteemed
Director Sir Dr. Satish k. Nair and my guide Prof. Christina Shiju for their kind initiative
guidance and valuable suggestion without which the completion of the report would not have
been possible. I also thank to my company guide Mr. Neeraj Bisht for guiding me
throughout my project.

Finally, I would like to thank all my colleagues and family for their co-operation.
 EXECUTIVE SUMMARY

YAANTRA is a newly launched company in Delhi NCR. This company provide

retailers and end customers with second hand smart phones and a new in-house product
power banks through e-commerce. They are India’s leaders in multi brand repair,
refurbishment and support services for smart phones, tablets and laptops. They have a state-
of-art in house repair lab, doorstep pickup and delivery services for customer and retailer’s
convenience. With Omni-channel approach, enabling quality services online, in store and at
home, YAANTRA is transforming the way gadgets get fixed. YAANTRA has a strong
network with regional sales office in the metro cities. i.e. Delhi, Bangalore, Chennai, Pune,
Mumbai, Hyderabad, Ahmadabad.

Company had given us a target that we need to register & convince the retailers to
download the app at least 15 retailers per day. We have to give importance to each retailer
and make it sure they like that app and that should be beneficial for their growing business.
Our HR taking care about registration password. In addition, every day we had to send the
report & every week of Saturday they took meeting regarding the problems that we faced
during the field work. After that, we were on the follow-ups, we had to visit again to the same
retailers and ask them that they access the app or facing any issue regarding the application.
Customers buy the product after finding the utility of the product. It was a great experience
and opportunity to work in YAANTRA. I have learned the market position and retailer’s
experience regarding the YAANTRA product or various methods of selling the product and
found that how to make the organization and its product to sustain in the market.
 TABLE OF CONTENTS

SR.NO TOPIC PAGE

NUMBER
PART A

1 INTRODUCTION TO THE PROJECT 1

2 BRIEF COMPANY PROFILE

2.1 HISTORY 3

2.2 TOP MANAGEMENT 3

2.3 SIZE OF THE ORGANIZATION 3

2.4 VISION AND MISSION 4

3 INDUSTRY ANALYSIS

3.1 PESTEL 5

3.2 PORTER’S FIVE FORCES 8

3.3 PORTER’S GENERIC STRATEGIES 10

4 COMPANY ANALYSIS

4.1 SWOT ANALYSIS 13

4.2 7S FRAMEWORK 15

4.3 VALUE CHAIN ANALYSIS 18

4.4 ANSOFF MATRIX 21

 PART B

5 INTRODUCTION

5.1 NATURE OF PROBLEM 24

5.2 OBJECTIVES OF THE STUDY 24

5.3 UTILITY OF THE STUDY 25

5.4 LIMITATIONS 25

6 METHODOLOGY

6.1 APPROACH 26
6.2 SOURCES OF DATA 27
6.3 METHOD OF DATA COLLECTION 27
6.4 SIZE OF SAMPLE AND METHOD OF 27
SAMPLING
6.5 METHOD OF DATA ANALYSIS 28

7 CONTENT OF INDUSTRY PROBLEM 28

8 PRESENTATION OF DATA 30

9 ANALYSIS AND DISCUSSION 37

10 CONCLUSIONS AND SUGGESTIONS 39

PART C

11 LEARNING AND TAKEAWAY

11.1 APPLICATIONS LEARNT AT PiMSR 40
11.2 TOOLS AND TECHNIQUES PICKED 40
11.3 AUGMENTATION OF SOFT SKILLS 41
11.4 DIRECTIONS OF FUTURE LEARNING 41
REFERENCES 42
ANNEXURES 43
 PART: A

1. INTRODUCTION

Marketing research is the efforts put into finding the feelings and opinions of consumers to
make a better product or service. It is the systematic design, collection, analysis and reporting
of data and findings to a specific marketing situation facing the company.

Market research is one of the key factors used in maintaining competitiveness

over competitors. Market research provides important information to identify and analyse the
market need, market size and competition. Market-research techniques encompass both
qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as
quantitative techniques such as customer surveys, and analysis of secondary data.

Market research, which includes social and opinion research, is the systematic gathering and
interpretation of information about individuals or organizations using statistical and analytical
methods and techniques of the applied social sciences to gain insight or support decision
making.

The Indian smart phone market, with over 1.17 billion mobile phone users, is one of the
biggest markets for mobile phone manufacturing companies. Disruption led by Reliance Jio
and subsequent decline in the prices of data plans by telecom companies have led to
unprecedented demand for Smart phone’s. While smart phone makers like Xiaomi, One Plus,
etc. are already making a large profit by tapping the thriving smart phone market, the demand
for refurbished or second-hand Smartphone’s of inspirational brands like Apple and Samsung
has increased manifold. Besides India, Africa and Southeast Asia are the biggest markets in
the refurbished smart phones category.
According to a report published in The Economic Times, the market for refurbished mobile
phones would rise by over 27 per cent over in 2019 and 2020 and that many new companies
are making a foray into the Indian market every year. Right now, companies like Amazon,
Cashify, Shop clues and Togo Fogo dominate the second-hand and refurbished market in

1
India. The refurbished mobile phone segment of Amazon alone has grown by 400 per cent
year-on-year, says the report.
These online companies usually offer heavy discounts, up to 50 per cent, on refurbished
mobile phones, which make them an easy buy for those looking for smart phones of best
companies in the world at cheaper prices. Not only Amazon but also other players like
Cashify have also posted three-fold growth in this segment.
Experts say continuous upgrades in smart phone models and subsequent supply of newer
versions have also given rise to the demand for second-hand or refurbished category smart
phones. Many people, who are first-time smart phone buyers, are choosing used phones due
to easy affordability.
Around 12 million refurbished smart phone units were sold in India in 2017 alone. World's
biggest smart phone manufacturers Apple and Samsung accounted for around 33 per cent of
these sales, says Counter-point Technology Market Research. In volume terms, the segment
grew 25 per cent in India as compared to 13 per cent across the globe.
Other global giants like HCL, Flipkart, Redington, etc. are also in the race to capture the
market. Experts suggest the growing refurbished mobile phone industry can also be a boon
for India if the government encourages global companies to set up operations under the Make
in India initiative.

2
2. COMPANY PROFILE

2.1. HISTORY:

YAANTRA marked its presence in 2013 as an entirely committed brand, dealing in

refurbished smart phones segment. YAANTRA have aligned our efforts to the country’s
collective vision to brace the people for the upcoming digital revolution. With a wide
assortment of smart phones and services, they are going great and strong towards their vision.

2.2. TOP MANAGEMENT:

Jayant Kr. Jha, Co-Founder & CEO

Jayant Jha has more than 8 years of experience in the industry and is well aware of market
complexities and opportunities. He has worked for companies like Wipro and many more. At
YAANTRA, he is a part of the core team and has been involved strategically setting up and
streamlining operations in seven cities.

Ankit Saraf, Co-Founder & CFO

Ankit Saraf has more than five years of experience. He at YAANTRA guides and shares his
expertise with the core team such as account finance, treasury and marketing.

Amol Gupta, Co-Founder & CTO

Amol Gupta has more than five years of experience in the market. He had been associated
with the companies like directorate of education and many more. He takes care of
technology, sourcing and purchasing of spares and vendor management.

2.3. Size of the organization:

YAANTRA have two streamed business that are both online and offline to expand and create
awareness into the market.

YAANTRA is young but enthusiastic, new but well known and are moving ahead with a
strong base of 1, 20,000+ satisfied clientele, which is growing every day and this very
moment too. Until date, YAANTRA repaired more than 60,000 smart phones and have

3
infused more value to the customer’s digital investments. YAANTRA have seven offices
situated in 8 different states that is in Delhi, Ahmadabad, Mumbai, Pune, Hyderabad,
Bangalore, Chennai. YAANTRA is leading with 60,000+ employees or workforce and a
present turnover of 100 cores plus. YAANTRA entertain their clientele with incredible deals
throughout the years.

2.4. Vision & Mission:

Vision of YAANTRA is “to become a world leader in connecting people to a digital

revolution.”

Mission is making technology affordable for all.

YAANTRA aim to work towards their vision, driven by values of superior quality,
innovation, making every customer interaction and experience.

4
 3. INDUSTRY ANALYSIS : RETAIL INDUSTRY

3.1 PESTEL ANALYSIS OF RETAIL INDUSTRY

• POLITICAL FACTOR:

Political factors like government policies and regulation of the retail industry affect its
revenue and profitability. The political environment affects so many things including
economic environment of a nation and international supply chains of businesses. Political
stability means better business because political disruption leads to the disruption of supply
chain and sales. Moreover, political issues can also become hindrance to smooth business
operation. The antitrust issues have continued to trouble Amazon and the issue seems to have
reignited with Trump as president. In all the nations, the business environment is affected by
the political landscape. The Asian economy is growing at a faster rate than other parts of the
globe. However, the government and Red tape can be a big problem in the Asian nations. For
the big International retailers, it can be quite difficult to expand into the Asian countries.
India still has difficult laws and restrictions on Foreign Direct Investments. All these factors
can make it difficult for the retail brands to operate profitably in the international
environment.

5
 • ECONOMICAL FACTOR:
Economic factors are always very important in the context of trade and business. The state of
the world economy decides the state of sale and profits for the industry. The world economy
has rebounded and is growing. Economic growth means that people are going to spend more
on shopping. However, even in the time of recession, the retail industry had maintained
impressive sales. In 2015, it achieved global sales of $20.8 trillion. Based on the economic
scenario worldwide, the retail industry is predicted to have grown to $28 trillion by 2020.
The labour market and the economy both are in very good shape and an increase in
disposable income has boosted consumer confidence. All of these are very good signs for the
retail industry. The better the shape of the economy, the higher will be the revenue and profits
for the retail brands. Better economic scenario means a growth in sales and overall better
shape of the retail sector.

• SOCIAL FACTOR:
Social trends are also a major impact on the retail sector and its profitability. Demographic
changes and changing consumer preferences are going to have a deep impact on retail sector.
The millennial have different preferences than the previous generation. When it comes to
customer service, they want more personalized service. Retailers will have to change the way
they serve their customers and design their service experience better to lure in millennial in
higher numbers. Demographic changes have also affected the popularity of products. The
technological products are in more demand than ever. The demands of the new generation are
much different from the older generations. The importance of customer service is growing
and a lot of retailers’ popularity will depend on how well they have constructed their
customer experience. More focus shall have to be on customer engagement.

• TECHNOLOGICAL FACTOR:
Technological factors are now even more important whether in terms of supply chain,
customer service or sales. The growth of digital technology has also increased the number of
players in the retail industry. Technology affects several things including user experience. If
e-retail has enjoyed exponential growth, then it is because of the additional convenience
provided by technology. More and more retailers are trying to make better use of technology

6
to make the customer experience better. A number of new technologies like AI and cognitive
intelligence are going to change the retail landscape in the coming years. Even cloud
computing, IoT and Distributed intelligence are going to have a deep impact on the retail
sector. In the coming years several more things will be determined by technology which will
remain at the centre.

• ENVIRONMENTAL FACTOR:

Smart phones are a large part of the e-waste generated every year. In the light of the level of
e-waste generated by both service and equipment providers, the industry are focusing on
waste management and minimizing its environmental footprint. More and more providers are
investing in reducing their carbon intensity. Verizon is in the process of implementing its
additional 24 MW of Green energy by 2025. Since they make a direct contribution to the
production of e-waste, providers like Verizon are also devoted to device recycling. Through
its program, it rewards the consumers who recycle their devices rather than throwing them
into waste. Sprint has recycled or reused Smart phone’s equalled 44% of its sales in
2012. AT&T has also invested in recycling though it is behind Sprint.

• LEGAL FACTOR:

The legal factors are also just as important for the retail sector. There are so many laws
related to business and employment that affect it. Labour laws are particularly a big pain for
the retailers who have to maintain low prices to remain competitive. Walmart has had so
many tussles with laws over labour related issues. Apart from that, the other laws like product
and packaging related laws also apply to the retail sector. Overall, the legal scenario is quite
complex and retailers have to be cautious since any violation can result in big fines. Both
Amazon and Walmart have had to deal with their fair share of legal issues in the past. These
laws and the level of legal scrutiny differs from nation to nation and everywhere the retailers
have to be cautious about compliance.

7
3.2 PORTER’S FIVE FORCES

• Competitive Rivalry:

Entry of foreign players in the market & e-retailers has intensified competition. Customers’
low switching cost increases competition. The Indian retail sector is highly fragmented,
which increases competition .If in a market competition is very high then efforts of rivals are
very high. India is a developing country so competition in India is very low. Some persons
are players in the markets. Multinational companies are increasing competition in Indian
market. Increase opportunities with rapid industry growth rate. Increased but limited diversity
in the form of competition by current regulation. Increased but limited product difference per
segment

8
 • Power of Suppliers:

Retailers have low switching costs, which make the supplier power low. Larger retailers can
easily switch to different suppliers. Bargaining power of sellers increased when there are
many sellers and some successful buyers. Now days, people’s taste and preference changes
day by day because they demanding new every day. They demand quality products in low
price. Bargaining power is increasing of buyers because they can judge the performance of
the product. However, at overall level the bargaining power of sellers in India is because
there is larger number of potential sellers in the market. Still, small retail market has more
dominant position, because, it is contributing 92% of the total retail market.

• Threat of New Entrants:

Entry as a retailer is quite simple. However, players need to establish strong distribution
channels & achieve economies of scale to compete. Demand side scale benefits by large
domestic retailers due to established customer base and extensive geographical spread of big
retailers. Supply side economies of scale for large domestic retailers due to large size
operations of big retailers. Few switching cost in changing to local suppliers due to strengths
of domestic

• Availability of Substitutes:

Threat of substitute products is low. However, customers may purchase products from a
local store instead of purchasing from retail. In India, people are poor. They cannot afford
costly products. Every time they want substitute of the product, which are cheaper than other
products. So Indian Retail, substitute of product is big threat for business because it is done
lower profit of the business. In unorganized sector substitute of product is available in high
quality and price is cheaper. Therefore, middle and lower class prefer these cheap substitutes.

• Power of Buyer:
The consumers are price sensitive & have information about the product & its price. Low
switching cost gives customers high bargaining power. Consumer is a king of market. The
profit of the retail business is depending upon consumer. If suppliers bargaining power is
low, then they are not potential suppliers in the market. However, if the bargaining power of
suppliers is high like brand manufacturer threatening to set up their own retail shops then the

9
influence the bargaining power of other suppliers. Bargaining power is depending upon the
supply of product. If supplied product is generating good sale, then the product supplier is
having maximum bargaining. If it is not so, then prices become competitive. In retailing local
brands in apparel and food has played a big role in underhanded the bargaining power of the
suppliers. However, high buyer to seller’s ratio characterizes the Indian retail sectors with
highest density of retail outlet in the world, making India a supplier’s market.

3.3. PORTER’S GENERIC STRATEGIES

Cost Leadership:

Porter's generic strategies are ways of gaining competitive advantage – in other words,
developing the "edge" that gets you the sale and takes it away from your competitors. There
are two main ways of achieving this within a Cost Leadership strategy:

10
• Increasing profits by reducing costs, while charging industry-average prices.

• Increasing market share through charging lower prices, while still making a reasonable
profit on each sale because you have reduced costs.

You therefore need to be confident that you can achieve and maintain the number one
position before choosing the Cost Leadership route. Companies that are successful in
achieving Cost Leadership usually have:

• Access to the capital needed to invest in technology that will bring costs down.

• Very efficient logistics.

• A low-cost base (labour, materials, facilities), and a way of sustainably cutting costs
below those of other competitors.

Differentiation:

Differentiation involves making your products or services different from and more attractive
than those of your competitors do. How you do this depends on the exact nature of your
industry and of the products and services themselves, but will typically involve features,
functionality, durability, support, and also brand image that your customers value.

To make a success of a Differentiation strategy, organizations need:

• Good research, development and innovation.

• The ability to deliver high-quality products or services.

• Effective sales and marketing, so that the market understands the benefits offered by the
differentiated offerings.

11
The Focus Strategy:

Companies that use Focus strategies concentrate on particular niche markets and, by
understanding the dynamics of that market and the unique needs of customers within it,
develop uniquely low-cost or well-specified products for the market. Because they serve
customers in their market uniquely well, they tend to build strong brand loyalty amongst their
customers. This makes their particular market segment less attractive to competitors.

As with broad market strategies, it is still essential to decide whether you will pursue Cost
Leadership or Differentiation once, you have selected a Focus strategy as your main
approach: Focus is not normally enough on its own.

But whether you use Cost Focus or Differentiation Focus, the key to making a success of a
generic Focus strategy is to ensure that you are adding something extra as a result of serving
only that market niche. It is simply not enough to focus on only one market segment because
your organization is too small to serve a broader market.

12
4. COMPANY ANALYSIS

4.1 SWOT ANALYSIS:

STRENGHTS

• YAANTRA has a good, unique, new advanced innovative product.

• Procedures and processes of product quality.

• A specialist marketing expertise in the industry.

WEAKNESSES

• Maintaining poor or bad quality of goods and services.

• No uniqueness in the product compared to the competitors’ products.

• Damage in reputation.

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OPPORTUNITIES

• Benefit from converging industry trends and introduce hybrid products in the
market.

• Making buying process convenient and efficient.

• Offer product at lower price and fast delivery.

THREATS

• Introduction of tax on the product.

• Better distribution channels by competitor.

• New unique advanced product from competitor.

• Competitors offering products for lesser price.

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4.2. 7S FRAMEWORK

Structure
Structure is the skeleton, the form of shape, of organizations. It dictates the way it operates
and performs. Traditionally, businesses are structured with divisions, departments and layers,
in which the lower layers answer to upper layers. Today, the flat structure, where the work is
done in teams of specialists, are more common. The idea is to make the organisation more
flexible, devolve the power by empowering the employees, and eliminate the middle
management layers.
YAANTRA here deals with a structure with a team of repairs-technical and support
department, suppliers to retailers’. New retailers as well as existing retailers-sales department
(refurbished phones), direct manufacturer ( YAANTRA power banks).

15
Strategy
Strategy is a plan or course of action in allocating resources to achieve identified goals over
time. Unlike tactic, strategy is well thought and often rehearsed. It transforms the
organisation from the present position to the new position described in the objectives.
YAANTRA’Sobjective is to acquire new retailers and retain the old retailers and for that their
strategy is to provide the newly launched in-house product i.e. YAANTRA POWERBANK
with a reasonable price. They also provide their retailers with offers or discounts on
refurbished smart phones on Wednesday as a weekly offer. They provide their new retailers
as well as old retailers with six months’ warranty on refurbished phones, which other
competitors do not provide. YAANTRA provides a good and efficient facility of free delivery
service to both the retailers existing as well as new. When the phone is technically damaged,
then the company provides with free pick up and drop service. YAANTRA aims at customer
satisfaction through high quality of service that is provided to the retailers associated with the
company. YAANTRA also focuses on the improvement in the performance is driven by a
focus on cost reduction materials and operating expenses as well as by increasing in the sales
volume.

Systems
Systems are routine processes and procedures followed within an organization to implement
the strategy and to run day-to-day affairs. These processes are mainly designed to achieve
maximum effectiveness. Traditionally, the higher management makes the most decisions.
Increasingly, the organizations are using innovation and new technology to make decision-
making process quicker. YAANTRA has a highly motivated system. The company on a daily
basis generates sales on selling new product and the CRM is updated to maintain the records
and collate the information required by the team. Both online and offline businesses are
carried out efficiently.

16
Staff
Staffing is the process of acquiring human resources for the organization and assuming that
they have the potential to contribute to the achievement of the organizational good. The staffs
refer to way organizations introduce young recruits into the mainstream of their activities.
Company’s people resources and how they are trained, developed and motivated YAANTRA
has expanded themselves into 12 cities and have branches also with each branch consists
around 500 skilled and trained employees. YAANTRA has started their new branches in
Mumbai and Pune, where each branch has skilled technicians associated with smart phones
that have to repair along with the quality check team of 50 employees in each branch.

Shared values
Shared values means that the employees share the same guiding values are things that would
strive for even they were demonstrably not profitable. Value act as an organizations
conscience, providing in times of crisis. YAANTRA employees are well informed educated
about their work also about the company’s goals and principles, which helps in achieving the
goals. YAANTRA mainly focus on the values of providing high quality products to the
retailers, creating innovations to the new launched product, also increasing the interaction
between the retailers and experience so to solve the problems faced by them in future.

Style
Style means management behaviour towards employees, customers, shareholders, suppliers,
and every other person dealing with YAANTRA. A particular style adopted by the company
will have various implications over various people dealing with the company. So with the
shift with style in YAANTRA in management will able to improve relationship with its
internal and external retailers over a period. It will try to solve any kind of disputes arising in
the management activities to a peaceful dealing.
Skills
Skill is the distinctive capabilities or competences of personal or of the company as whole. In
other words, it is the company does the way of selecting capable persons and well-trained
person. In YAANTRA, all employees are skilled and well educated but in some areas, there
is a need of training.

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4.3. VALUE CHAIN ANALYSIS

Value chain analysis of YAANTRA that analyses how the brand has managed activities
down its value chain to derive extraordinary value. A value chain includes all the activities
involved in the production and sales of the brand from the conception and sourcing of raw
material to final sales and service. It is an analytical tool introduced by Michael E Porter of
Harvard Business School. Optimizing the value chain can make it more efficient and can help
generate sources of competitive advantage for the business.

Primary Activities:

Inbound logistics:

To keep its costs lower than the competitors, YAANTRA has to depend on it retailers. Since
YAANTRA buys in bulk from its suppliers i.e. it has tie up with Amazon, it has no difficulty
managing prices. Based on its financial power and size, YAANTRA is able to press the
suppliers for lower prices. Apart from it, YAANTRA has also focussed on efficient supply
chain management and inventory management to manage its supply chain costs. It has made
use of technology and apps to manage supply of material and inventory, which also helps
keeping costs low. The suppliers are responsible for providing materials in real time as per
requirement. It has focused on managing long term relationships for efficient sourcing and for

18
keeping prices low. It offers its retailers the potential for high volume purchases in the long
term for the lowest prices. This strategic partnership with the vendors has helped it better
manage its supply chain.

Outbound logistics:

At the core of YAANTRA’S inventory management technique is a supply chain practice

called cross docking. The products received from the suppliers are cross docked at the
distribution centers and then forwarded to the stores. This keeps the inventory and
transportation costs low and cuts down on the time needed for transportation and thus
eliminates inefficiencies. In this way, the YAANTRA stores are immediately replenished
without having to wait for long periods. This has reduced the costs for YAANTRA and the
benefits can be passed on to the customers. Its more than 50 distribution centers are the hub
of activity for its business. These distribution centers serve the stores such as small and big
shops and deliver to the customers directly.

Marketing and sales:

YAANTRA pricing strategy is one of the key elements of its marketing strategy. The
everyday changes in the prices strategy have helped it build a reputation of the best price
retailer. However, apart from it YAANTRA also spends billions on marketing. It advertises
and promotes its brand and deals through several advertising channels including digital
channels such as YAANTRA application on Google play store. From promotional videos to
social media, YAANTRA uses them all for the promotion of its brands. Apart from it,
customer service is also a key part of its strategy that helps create a positive brand image and
better reputation.

Support Activities:

Technology:

YAANTRA has made extensive use of technology for better supply chain management and
sales as well as customer service. From smarter apps for inventory management to
ecommerce websites it has used technology to gain efficiency. A number of technological

19
tools are used to keep the managers updated and the stores well supplied. Technology has
become indispensable for efficiency in the retail business.

Procurement:

One of the key focus areas at YAANTRA is procurement. It has managed strategic
relationships with its suppliers to keep costs of material lower. These suppliers provide
standard products and services as mentioned in the suppliers’ code. The overall advantage of
practicing E-procurement is the fact the more automation allows partners quicker access to
information. E-procurement also results in better communication among supply chain
partners and consequently better supplier-customer relationships. Organizations are able to
maintain tighter control over the purchasing process.

Firm Infrastructure:

The infrastructure of any organization plays a key role in the success of that firm.
YAANTRA has built a very large infrastructure that includes its management, supply chain,
human resources, its distribution and quality check centers and more. Apart from excellent
management of its technological and financial resources now it is focusing on managing its
employees better to be more successful.

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4.4. ANSOFF MATRIX:

Ansoff’s product/market growth matrix suggests that a business’ attempts to grow depend on
whether it markets new or existing products in new or existing markets. The output from the
Ansoff product/market matrix is a series of suggested growth strategies which set the
direction for the business strategy.

Market penetration:

Market penetration is the name given to a growth strategy where the business focuses on
selling existing products into existing markets.

Maintain or increase the market share of current products such as refurbished or repaired
smart phones, this can be achieved by a combination of competitive pricing strategies, sales
promotion and perhaps more resources dedicated to personal selling. Restructure a mature
market by driving out competitors; this would require a much more aggressive promotional
campaign, supported by a pricing strategy designed to make the market unattractive for
competitors. For YAANTRA the competitors are electronic bazaar for selling of refurbished
smart phones and for power banks Troops, Syska etc. So to deal with the competitors
YAANTRA has various pricing patterns introduced into the market by its online application

21
on Google play store. A market penetration marketing strategy is very much about “business
as usual”. The business is focusing on markets and products it knows well. It is likely to have
good information on competitors and on customer needs.

Market development:
Market development is the name given to a growth strategy where the business seeks to sell
its existing products into new markets.

New geographical markets such; for example exporting the new product to the market.
YAANTRA has recently launched a new product as YAANTRA power bank. New
distribution channels (e.g. moving from selling via retail to selling using e-commerce).
Different pricing policies to attract different customers or create new market segments. The
YAANTRA power bank has three categories such as 10000 mAh with digital panel, 10000
mAh with numerical indicator such as 25, 50, 75,100% and 8000 mAh. Market development
is a more risky strategy than market penetration because of the targeting of new markets.

Product development:
Product development is the name given to a growth strategy where a business aims to
introduce new products into existing markets. This strategy may require the development of
new competencies and requires the business to develop modified products, which can appeal
to existing markets. A strategy of product development is particularly suitable for a business
where the product needs to be differentiated in order to remain competitive. YAANTRA has
done research and development and innovated a new product as power bank of 10000 mAh,
which is highest selling product of YAANTRA. The YAANTRA power bank has a digital
panel on the front side having two ports for charging one is slow of 1 ampere and other one
is 2.1 ampere which other competitors does not provide and also onto the digital panel it also
indicates the ports that shows in which port it is connected. This the USP provided to the
customers by knowing their needs and its being first to the market.

22
Diversification:
Diversification is the name given to the growth strategy where a business markets new
products in new markets. This is an inherently more risk strategy because the business is
moving into markets in which it has little or no experience. YAANTRA business is
diversified into new retailers, old retailers and end consumers by enhancing the retail sector.
The internal focus is that there is different service available, which provided repair services,
shipping services. For a business to adopt a diversification strategy, therefore, it must have a
clear idea about what it expects to gain from the strategy and an honest assessment of the
risks. However, for the right balance between risk and reward, a marketing strategy of
diversification can be highly rewarding.

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 PART B

RESEARCH BASED PROJECT

5. INTRODUCTION:

5.1. NATURE OF THE PROBLEM:

 YAANTRA is a startup company and it is difficult to cover large number of retailers

in the available data provided to us in given time period.

 In YAANTRA, completing the target is also a concern as convincing the existing

retailers for new products was much easier than convincing the new retailers in the
retail market.

 As approaching to both new and existing retailers in the market, there were retailers
who are uneducated or less educated for adopting new online business of buying
refurbished smart phones and new products as YAANTRA POWERBANK through
an application on a mobile phone which made them think twice before installing or
enrolling the application.

 For the new retailers the task was to install YAANTRA application into their mobile
phone for the enrollment so there was some instance where the technical glitch used
to occur in the form of OTP generation issue hence it should be rectified.

 Some retailers were traditional bound so they were least interested to listen about
YAANTRA was not adopting the online business or the modern market.

5.2. OBJECTIVES OF THE STUDY:

 To create brand awareness in the retail market.

 To convince the retailer to register with YAANTRA on the retail application.

 To study the market research through survey for new retailers and also collecting
feedback from existing retailers.

 To study and observe the retailers behavior.

 To increase the number of new retailers and retain the old retailers.

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5.3. UTILITY OF THE STUDY:

 The study led to know more about the corporate and social world of retail market into
refurbished smart phones so to rectify the errors or problems faced by the consumers
or retailers.

 We also came to know the consumer behavior that how different types of consumers
or retailers respond to various types of products and services.

 The study led to collect information and to extend the marketing network for
spreading the brand awareness among the retailers in the retail market.

 The study helps to understand the basic needs and wants of the new as well as old
retailers and also their likes and dislikes about any product.

 The study also made us knows how to interact, communicate, convince and built
relations with the retailers to make brand awareness and creating a brand image into
the minds of the consumers or retailers.

5.4. LIMITATIONS OF THE STUDY:

 The major problem we were facing was the pricing of the refurbished smart phones
available in the application because the difference between the repaired phones and
new phones were very less where, the retailers were more interested into bulk orders
due to higher discounts provided.

 The other major problem was time for visiting to the retailers in different parts and
collect the accurate information required from them to process the follow up program.

 There are some competitors in the market where they have same products in
refurbished smart phones in a lesser price and also new entrant in power banks also
give tough fight to our product regarding price.

 Many of the retailers are less educated so we were facing problem in convincing the
consumers about the online service, application and technology and ensuring them
that there is no risk in adopting the modern way to do the business in spite of
traditional way.

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6. METHODOLOGY:

6.1. APPROACH:

 Quantitative research means asking people for their opinion in a structured way so
that you have facts and statistics to guide you.

 We used the quantitative research in YAANTRA by collecting data from the retailers
face to face into their shops by interacting or asking questions like how often they
visit the online application, what products did you buy etc.

 If retailer purchases any product then it used to store in to the CRM for maintaining
the records to make the data available whenever it is needed in future.

 Qualitative research involves a natural and observational examination of the

retailers that govern their consumer behavior.

 In YAANTRA we used to these qualitative research by arranging a one on one

interview with the existing retailer to know what problem he is facing after buying the
product, is the product is been purchased by his customer, is the product is delivering
on time, this helps in getting feedback of the retailers and also to process the follow
up program to resolve the issues appropriately in time so that retailer can be
emotionally attached and also retained.

 I have chosen RESEARCH METHOD to describe the status of the study’s focus. Its
value is based on the premise that problems can be solved and practices improved
through objectives and through description. The most common research methods are
the Surveys and Questionnaire. Here I have made use of Questionnaire method to
collect information from both new and existing retailers that I have visited in the retail
market.

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6.2. SOURCES OF DATA:

 Primary Data: Raw data, also known as primary data e.g. numbers, instrumental
readings and figures.
 Primary data collected through surveys, questionnaire and observations and asking
for the feedback from the existing retailers.

 Secondary Data: Secondary data can be obtained from following sources:

 Internet searches and libraries.

 Progress reports.

 Data collected through official websites of the YAANTRA and also the information
provided by the start of the internship.

6.3. METHOD OF DATA COLLECTION:

 Primary data – Data collected through direct marketing & survey with the help
of questionnaires.
 Personal selling is also a method of collecting data as the relationship with the
retailers was built and got to know their behaviour and attitude towards the
brand so that to promote and sell in future.

6.4. SIZE OF SAMPLE AND METHOD OF SAMPLING:

Sample size: Sample size is 18 retailers.

Sampling technique or method: Simple random sampling.

27
6.5. METHOD OF DATA ANALYSIS:

 This analysis is based on retailer survey conducted for various dealers in Mumbai
region .i.e. in Navi Mumbai, Thane & Western suburbs.
 Quantitative research is the systematic approach of observable phenomena via
statistical, mathematical or computational techniques.
 In this project, the data was collected by a quantitative approach by doing online
surveys (Google forms) using questionnaire method of collecting feedback from the
existing retailers who frequently deals with YAANTRA.
 The questions asked to the retailers was both closed ended .i.e. MCQs &
checkboxes and open ended in the form of paragraph text or short and meaningful
answers.
 Data is analysed by findings in the form of pie diagrams, bar graphs, tabulations and
suggestions by retailers in an open-ended form.

7. CONTEXT OF INDUSTRY PROBLEMS:

 Auditing is problem that the YAANTRA faces on a regular basis. Businesses are
regularly engaged in competition with one another, and this competition can create
price wars, forcing a need to keep tight control over inventory and other important
data. Industry often faced with inefficient and poor auditing plans that make
competing with other companies difficult. The company notes that existing auditing
systems may be outdated and provide inadequate audits needed to stay competitive.
 Keeping up with the pace of modern technology is another problem the retail
industry faces. For instance, retail point of sale technology often uses computer
systems that are several years behind the computer industry as a whole. Given the
rate of turnover and the constantly changing economic environment, constantly
upgrading and keeping their equipment and networks running on the newest
technologies can be difficult for the industry.
 Retailers want to stock multiple brands to ensure their outlets stay functional and
profitable. However, a challenge for them is to choose the right mix of brands to

28
 collaborate. They might collaborate with a brand whose goods do not move off the
shelf quickly.

 Inventory management: It’s not difficult to guess the inventory needed for popular
goods. But for no-so-popular goods, inventory management is challenging but
essential. Retailers might be lured by a higher margin offered by new principal
companies who want to grab market share. But how much of that inventory sells
depends on the principal company’s marketing, reputation, product demand and
customer support. The more time goods spend on shelves and in warehouses, the
more the revenue of retailers is impacted.

29
8. PRESENTATION OF THE DATA:

50% of retailers come under the age group between (20-25).

16.7% of retailers come under age group between (30-35).

11.1% of retailers come under age group between (25-30).

11.1% of retailers come under age group between (15-20).

77.8% are new retailers in the retail market.

22.2% are existing retailers in the retail market.

30
72.2% of new retailer have placed order from the application

Rest 27.8% had not ordered from the application

72.2% of existing retailer visit the YAANTRA app regularly

Rest 27.8% of existing retailers does not visit YAANTRA app.

31
66.7% of existing retailer prefer unboxed category of smart phones.

55.6% of existing retailer prefer refurbished category of smart phones.

33.3% of existing retailer prefer pre-owned category of smart phones.

83.3% of new retailer had given order for the YAANTRA power bank

Rest 16.7% had not ordered.

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100% of retailers prefer YAANTRA power bank of 10000 mAh with digital display.

16.7% of retailers prefer YAANTRA power bank of 10000 mAh with analog display.

5.6% of retailers prefer YAANTRA power bank of 8000 mAh.

33.3% of retailers say that it takes 2-3 days for delivery of any product.

33.3% of retailers say that it takes above 5 days for delivery of any product.

44.4% of retailers say that it takes 3-4 days for delivery of any product.

33
61.1% retailers had returned the product after purchasing

Rest 38.9 did not return the product.

38.9% of retailers say that YAANTRA sometimes takes time to repair the product.

33.3% of retailers say that YAANTRA takes too much time to repair the product.

27.8% of retailers say that YAANTRA takes no time to repair the product.

34
55.6% of retailers say that the prices of the products are medium.

38.9% of retailers say that the prices of the products are high.

55.6% of retailers like the pickup and drop services facility.

38.9% of retailers like the conditions of the phone.

35
72.2% of retailers feel YAANTRA be successful in the market

Rest 27.8 feel will not be successful.

36
9. ANALYSIS AND DISCUSSION:
1. TO CREATE BRAND AWARENESS IN THE RETAIL MARKET:

16.7 percentage of retailers are between the age group of 30 to 35, 11.1 percentage of
retailers between the age group of 25 to 30, 11.1 percentage of retailers between the age
group of 15 to 20 and 50 percentage of retailers are between the age group of 20 to 25. As
retailers with younger generation are more likely to adopt the modernization in the retail
sector of smart phones.

77.8 percentages of the retailers are new retailers in the retail market whereas 22.2
percentages of the retailers are the old retailers in the market. As retailers who had
interest in the new product of YAANTRA the number of registration of new retailers had
increased.

2. TO STUDY THE MARKET RESEARCH THROUGH SURVEY FOR NEW

RETAILERS AND ALSO COLLECTING FEEDBACK FROM EXISTING
RETAILERS.

72.2 percentage of new retailer has placed order from the application and 27.8 percentages
had not ordered from the application. As the new product attracts new retailers in the
market, the new retailers are placing order accordingly.

72.2percentage of existing retailer visits the YAANTRA app regularly and 27.8
percentages of existing retailers does not visit YAANTRA app. Most existing retailers visit
YAANTRA app because to check the daily offers offered to them in the application.

66.7percentage of existing retailer prefer unboxed category of smart phones, which are as
good as new. 55.6 percentage of existing retailer prefer refurbished category of smart
phones, which are technically repaired and might have some display issues as well. 33.3%
of existing retailer prefer pre-owned category of smart phones, which are second hand
smart phones.

37
 3. TO STUDY AND OBSERVE THE RETAILERS BEHAVIOR.

100 percentage of retailers prefer YAANTRA power bank of 10000 mAh with digital
display which has leather finishing with a good look and it is very pocket friendly.16.7
percentage of retailers prefer YAANTRA power bank of 10000 mAh with analog display
and 5.6 percentage of retailers prefer YAANTRA power bank of 8000 mAh.

4. TO INCREASE THE NUMBER OF NEW RETAILERS AND RETAIN THE OLD

RETAILERS.

55.6 percentage of retailers are the regular retailers who likes the pick and drop services of
YAANTRA as they also order the products from the application and rest 38.9 percentage of
retailers are the engaged retailers who like the conditions of the smart phones that are
offered.

72.2 percentages of retailers believe that YAANTRA will be successful in the retail market
because their new in-house product .i.e. power banks, which can make the company, grow
and successful in the market across the globe and rest 27.8 percentage think that they will
fail in the retail sector.

38
10. CONCLUSIONS AND SUGGESTIONS:
After collecting all the information through the survey in the form of questionnaire, we
conclude that the entire project helped in achieving the objectives of the company. The
services provided by YAANTRA like free pick up and drop facility, warranty on the
refurbished smart phones etc are very satisfying for the new as well as old retailers. The new
product of YAANTRA power bank has made a good impact on new retailers by which the
existing retailers are retained.

These are some of the suggestions and recommendations provided by the retailers through the
survey:

 YAANTRA should try to improve their customer service.

 They should try to resolve the technical issue like OTP generation because if OTP is
not generated the retailer could not be able to register to the YAANTRA application.

 YAANTRA should spend more on marketing and promotional activities, and should
create awareness about new schemes, discounts and offers as much as possible.

 YAANTRA should give more focus on the quality of products because sometimes
retailers receive the products with defects.

 YAANTRA should look into pricing issue faced by the retailers and should be
resolved.

 YAANTRA should make their delivery fast so that they can increase their market
share.

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 PART C

11. LEARNING AND TAKEAWAY:

11.1. APPLICATIONS LEARNT AT PiMSR:

At PiMSR we have learnt much more that how to do the project. The faculty members have
guided us thoroughly for the summer internship project. We have been provided with faculty
Guides as our mentor and they have guided us through-out the project efficiently. The faculty
taught us how to make optimum use of the technology and internet for making the project
successful by using sites like EBSCOHOST, IBEF, GOOGLE SCHOLAR for data collection.
We have learnt how to prepare the project in a given format in an efficient manner. The
faculty members took extra lectures and classes for proper guidance for the SIP project by,
PORTER’S FIVE FORCES, PORTER’S GENERIC STRATEGIES, 7S FRAME WORK,
BCG MATRIX, ANSOFF MATRIX.

A few months ago, as I was interviewed for summer internship position at YAANTRA, I was
asked why I wanted this internship. I love gaining real world experience as I always walk
away learning more about the public relations industry, my professional goals and myself. I
know this internship has provided me with more than just an extra line on my resume or work
samples for my portfolio. Although I’ve learned more than I could have imagined, I have four
major takeaways to take to college.

11.2. TOOLS AND TECHNIQUES PICKED

 Always ask questions

Summer internships allow students to shadow the professionals they are working for.
Through their work experience, working in the field and also the internships of their own can
give a clear idea of the work that is going to be done in the internship. Important thing I have
learned is if you are given an opportunity, don’t forget to ask questions because you can
never ask too many questions, and you will be glad you did when the summer internship is
over.

40
  Learn from little things

I understood that with each assignment be sure to absorb as many information you can. You
can learn a lot from one project even though you are selling a product to retailers. You might
think that this is a suitable time to go And interact with the new retailer for selling a new
product but the retailer is busy with the customer or having lunch so you can just wait for
sometime or you can just apologize for the inconvenience caused and can learn to be patient
enough.

11.3. AUGMENTATION OF SOFT SKILLS:

 Remind yourself to focus on the big picture

Although you should put all of your effort into each project you’re given, it’s also important
to step away from your desk and take note of everything else going on. You can learn a lot by
listening. At the end of the day, the conversations you have with the many retailers you have
visited or interaction with the fellow employees will probably mean the most to you. Whether
it’s a work related conversation or not, the relationships built by sharing stories is
immeasurable. The time I spent getting to know each other was my favorite part of my
summer internship.

11.4. DIRECTIONS OF FUTURE LEARNINGS:

 Start each day with enthusiasm and a positive attitude

I’ve learned that it pays off to come in each day with a smile on your face. When you feel
happy and productive, your day will go a lot better and the work you produce will benefit
from your attitude. My positive attitude and enthusiasm to be here is half of what made my
internship so great. The most important lesson I learned from my summer internship program
is “Everything is much better when you do it with a smile on your face”.

41
 REFERENCES:

https://www.yaantra.com/

https://www.cheshnotes.com/retail-industry-pestel-analysis/

https://www.ibef.org/download/Retail-May-2017.pdf

https://www.cheshnotes.com/2017/05/value-chain-analysis/

https://www.tutor2u.net/business/reference/ansoffs-matrix

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 ANNEXURES
1. Name:

2. Age:

o 15-20
o 20-25
o 25-30
o 30-35
o 35-40
o 40 and above

3. Have you enrolled the YAANTRA app from Google play store?

o Yes
o No

4. Are you a:

o New retailer
o Existing retailer

5. If you are a new retailer, do you have given any order for the products available in
the app?

o Yes
o No

6. If you are an existing retailer, do you visit YAANTRA app?

o Yes
o No

7. If you are existing retailer, then, which type of smart phones does customer, prefer
the most?
Unboxed
Refurbished
Pre-owned

43
8. If you’re new retailer have you given order for the new product i.e. YAANTRA
power bank?
o Yes
o No

9. In YAANTRA power bank which one do you prefer?

10000 mAh with digital display

10000 mAh with analog display
8000

10. If you have ordered any product from app how many days it takes to deliver?
2-3 days
3-4 days
Above 5 days

11. Have you ever returned the product after purchasing from the app?
o Yes
o No

12. Is YAANTRA taking too much time for repairing the product?
o Yes
o No
o Sometimes

13. How you think about the prices of the products in the app?
o High
o Medium
o Low

14. Which facility of YAANTRA you like the most?

o Warranty
o Conditions of phone
o Pick up and drop service

15. Do you think YAANTRA will be successful in market?

o Yes
o No

44