Redbus Expansion Strategy
1. ) Assume that you have a online movie ticketing business in India wherein you enable your customer to buy movie tickets online. It is a thriving business and in Metros and A-cities your company contributes to 60-70% of all ticket sales for the cinema. You are now looking at expanding your markets to other countries. How would you go about 1. a) Sizing the market? Ans: a) Identify the major multiplex and theatre players in the targeted countries. b) Get the data from them about how their tickets are booked. This can help us to identify what percentages of people book their tickets online.
Another way would be to make people fill survey forms and these forms could be distributed outside the multiplexes or it could be distributed online. This would help us to identify the people who book tickets online. 1. b) Understanding the current behavior of movie ticket buying customers in that country Ans: a) Once we have identified the percentage of people who have book their tickets online we can segment them on the basis of following to study their behavior: 1) Demographics: age, region and income 2) Medium: Smartphone or computer ) Directly from the multiplex site(like PVR) or through some other site( like book my show) 1. c) Identify the segment that you would want to work in. Ans: I would like to work in online marketing. If I had to expand the movie ticket business in other countries after sizing the market and studying the behavior the next step would be to tap the market. In order to do that we will need to create a name for ourselves in that market. I would like to work on establishing ourselves in the online movie ticketing in new countries.
Some ideas as of now I have is: 1) Give the consumers attractive offers along with the tickets. For ex: On buying more than 3 tickets together giving a complementary large tub of popcorn. 2) Make the site interactive and attractive. 3) Provide consumers something, which other players don’t. for ex: consumers will have the option of paying later which is not there in most of the sites as of now in India. 2. ) What are your thoughts on the E-commerce market in India and the impact of mobile for the same?
Ans: The E-commerce market is in its budding phase in India as of now. It is growing at a fast pace and it’s going to grow at even bigger pace. Mobile has to play a big role in Indian E-commerce market. The Internet connectivity has increased manifold because of prevalence of smartphones. This can be utilized in numerous ways to benefit the business. It can help in targeted marketing. Secondly, people are going to do more and more of buying through Internet because it will be on their fingertips, they can use it anywhere anytime.
As of now the internet on smartphones has not realized its full potential because of low speed but as 3G gets more popular and 4G makes its way into India speed won’t be a problem and people will start doing more and more of their transactions through mobile. Also this new concept of mobile money introduced by airtel in India is going to get more popular and the day is not far when people would be paying most of their bills through mobile money. So, I see a great future for E-commerce in a vast market like India and mobile certainly has a great role to play in it.
