Leveraging the Gaps via Building Blocks of Technology and Effective Business Models
In today's fierce competition, one of the things that give an edge is the product innovations and the speed at which one can execute new things. To tackle these enormous challenges the companies at present times are aligning tech with product. Many of the leading startups have build advanced capability to aid operations and have developed the teams by giving them business insights via data prediction and machine learning. A lot of their work is being automated through technology such as performance monitoring of fleet, fraud detection and alerts etc.
One such is Jugnoo, the only startup in India to utilize the auto rickshaw sector across different verticals. The company has laid down some of the effective pinpoints in order to garner the huge success.
Don't Follow a Cash Burning Model
As an example, the focus on providing customer satisfaction through our services, which in turn leads to more Jugnoo users through word of mouth. The idea is not to bother potential customers by bombarding them with advertising messages but to build a network of loyal and happy customers through the quality of our services.
Secondly, it focuses only on the customers willing to spend less on travel and is in different to the mode of transport, but more specifically on customers using public transport in their daily lives. The aim is to provide auto rides at a price that is affordable for anyone who d rather use public transport. Therefore, the market we operate in are Tier 2 and Tier 3 cities of India where in the majority of population still travels by buses.
In the initial stages of any business, focus should be clearly on making sustainable business model rather than acquiring customers by burning money
Hyper Local Model
Taking a merchant first approach is what it has leveraged upon. Adding value to the merchants in terms of managing their existing operations, marketing tools digital advertisement,customer communication tools and a way to interact with their customers.
The company has created a business suite for hyper local merchants which enables them to chat with customer, acquire new customers in their vicinity, manage their business online along with having a major focus on long tail markets such as tier 2 and tier 3 cities Aggregating merchants in various categories restaurants, grocery, gifts, medicine with deeper integration and providing seamless experience to customer has been its unique proposition to the customers.
Best-in-Class Engineering Applications
Constantly striving to bring new products to market scale the existing products, it visions to vision is to build the first true hyper local marketplace in India that can deliver anything to anyone within one hour of ordering.
Believing in the sustainable development model which comes from steady growth and resilience to market conditions,the company with all the empowering & innovative components sites to become a prominent brand in the on-demand hyper local segment in tier II and tier III cities in the near future and uplift millions of people socially and economically by providing them better income and life quality.
With its product based approach and instead of building operation intensive model it has successfully launched recently in five cities and hopes to replicate the same in other cities as well.
In India the tier 2 and tier 3 cities are still untapped but in coming years it’s going to be a significant part of the overall transactions. It is not about being afraid and taking the risk. In fact, one should learn learn from the mistakes. In the initial stages of any business, focus should be clearly on making sustainable business model rather than acquiring customers by burning money. Persistence and perseverance ensures the survival of the fittest!!