Myntra.com is associated with e-commerce and fashion industry. It was founded in the year 2007 and its founders were graduates from Indian Institute of Technology. Myntra.com is of Indian origin and in the year 2014 merged with another e-commerce giant Flipkart to compete against following competitors
Product in the Marketing Mix Of Myntra.Com :
Myntra.com is a marketplace that deals in a bouquet of nearly 150,000 products from more than 1,000 International and Indian brands. It started its operations with B2B model of business but also offered few personalised products to its customers like calendars, watches, mugs and mouse pads.
Currently, it has adopted B2C business model and operates via its website and mobile app. Its products are for men, children and women and includes
- Topwear – Casual shirts, formal shirts, t-shirts, sweaters, suits, coats, sweatshirts, jackets, kurtas, kurtis, saris, blouses, dupattas, shawls, jumpsuits, dresses, waistcoat and tunics
- Bottom Wear – Track pants, shorts, formal and casual trousers, shorts, jeans, leggings, salwar, jeggings, skirts, capris and churidars
- Activewear and sportswear- Active t-shirts and swimwear
- Accessories- Smart wearable and watches
- Sports equipment
- Innerwear- Lingerie, sleepwear, loungewear, boxers, vests, thermals and trunks
- Footwear- Casual shoes, sports shoes, formal shoes, sandals, heel and flats
- Cosmetics and personal care products- Shampoo, soaps, moisturiser, aftershave lotion, aftershave cream and face wash
- Luggage and trolley
- Fashion accessories- Belts, wallets, mufflers, helmets, ties and cufflinks
- Home and living products – Bed sheets, pillows, pillow covers, quilts, curtains, cushion cover, bath towels, table cover, showpieces, wall décor, candles and vases
Place in the Marketing Mix Of Myntra.Com :
Myntra.com is an Indian company with its presence spread over nearly 9,000 locations in India. Its headquarters base is at Bengaluru in Karnataka and regional offices in Chennai, Mumbai and New Delhi. The company is aware how important seamless logistics is as it can make or break an e-commerce portal. Hence Myntra.com has decided to adopt the Hybrid-logistic model, which would help them to gain recognition and also penetrate in further areas.
Third-party distributors were allotted to help the company in their operational logistics. Its own strong and widespread distribution network includes an efficient supply chain and a capable delivery service so that goods reach its customers safely and within allotted timeframe. Its merger with Flipkart has increased its distribution channel and helped it to penetrate and reach additional markets. Besides online platform, Myntra.com also offers a personalized experience to its loyal customers via mobile shopping.
Price in the Marketing Mix Of Myntra.Com :
Myntra.com is one of the most powerful fashion brands in the online market. Its investors include IDG Ventures, NEA-IndoUS ventures and Accel Partners. Myntra has targeted fashion conscious, online shoppers and the medium-income group as its target customers. It faces intense competition from several companies that has resulted in the implementation of competitive pricing strategy. Myntra.com has kept product prices at reasonable and pocket-friendly rates to lure customers and increase its market share. It has also adopted a promotional policy and offers several incentives to draw its customers to its portal.
Promotion in the Marketing Mix Of Myntra.Com :
Myntra.com has gained immense brand recognition because of intensive and aggressive marketing campaigns. It has launched ad campaigns with distinctive taglines like Ramp it Up and Real Life Mein Aisa Hota Hai Kya. Its ads are shown via print, electronic and social media platforms like newspapers, television, Twitter, Facebook and its own website. Myntra offered personalised sports jerseys of football and cricket teams like FIFA, IPL and Team India as part of its promotional strategy.
It has also adopted several schemes like the end of season sale, discounts and periodic offers. Myntra.com realises the impact of star power and its association with celebrities like Lisa Haydon, Ranveer Singh, Kangana Ranaut and Hrithik Roshan has helped it to create positive brand visibility in the consumer market. It has been the recipient of awards and recognition like Pride of India 2009-10 and Red Herring Global 100 Winner in the year 2010.