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Marketing Strategy Of Myntra

780 Words4 Pages

Introduction:
Myntra is an Indian e-commerce company of fashion and casual lifestyle products, headquartered in Bangalore, Karnataka. The company was founded in 2007 by Indian Institute of Technology graduates Mukesh Bansal, Ashutosh Lawania and Vineet Saxena with a focus on personalisation of gift items. By 2010, Myntra shifted its focus to the online retailing of branded apparel.
In May 2014, Myntra.com merged with Flipkart to compete against Amazon which entered the Indian market in June 2013 and other established offline retailers like Future Group, Aditya Birla Group and Reliance Retail. Today, Myntra is a one stop shop for all our fashion and lifestyle needs. Being India 's largest e-commerce store for fashion and lifestyle products, …show more content…

The e-commerce market is an increasingly fragmented market, Myntra has chosen its niche carefully - it sells the latest and most popular fashion merchandise online. Its focus is on building rich catalogues which consumers can use to pick their products. This has worked like a charm. During the last cricket World Cup, it sold over 20,000 Team India jerseys. Myntra delivers within 48 hours on average, but it had reduced it to less than 24 hours with a strong warehouse and a smoother supply chain.
Revenue Model:
Myntra is an aggregator of many brands. Its business model is based on procuring current season merchandise from various brands and making them available on the portal at the same time as the retail stores. All these products are offered to customers on MRP. It is a Business to Customer (B2C) revenue model.
Customers and Suppliers: Myntra tied up with various popular brands to retail a wide range of latest merchandise from these brands. Myntra offered products from 350 Indian and International brands by 2012. Myntra also had casual wear for men and women from brands. The website saw the launch of Fasttrack watches and of Being Human, the …show more content…

Success Factors of Myntra:
 Hybrid logistics model
 Aligned its goals and metrics towards its vision since Inception i.e., being India’s largest online lifestyle products retailer.
 Keeping a vigilant eye on the consumer experience front.
 Utmost care on supply chain management.
 Rigorous hiring and evaluation criterion for employees and delivery agents with high delivery experience.
 Customers were infused with an idea that whenever they wish to buy any apparel, footwear or any other fashion and lifestyle item, they should think of Myntra first.
 Offering great deals, exclusive sale offer for the day, coupons etc., which enables customer ends up buying the product at Myntra when finds product at reasonable rates.
Marketing Strategy - Tie-ups with celebrities through associations with movies and events as they represent fashion sense.
Conclusion:
Myntra’s aims to provide a hassle free and enjoyable shopping experience to its shoppers across the country with the widest range of brands and products has paved off, making it the number one fashion e-commerce store in

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