A Report

On

An E-commerce

Business Organization of Bangladesh

Bikroy.com

A Report

On

An E-commerce

Business Organization of Bangladesh

Bikroy.com

Course Title: E-commerce

Course code: CCB-224

Submitted To:Sayma Sharmen

Lecturer

Department of Business Administration

Submitted By:Group: AmistadRoll: 9, 19, 22 & 37

Batch: 48th/B (Day)

Semester: 5th

Department of Business Administration

ii

Dhaka International University

Date of Submission: 27th November, 2016

MEMBERS OF GROUP: AMISTAD

SL. NAME ROLL

1. Sweety Akter 09

2. Umme Kulsum Kusum 19

3. Md Mahfuz Hasan 22

4. Jannatul Naima 37

Batch: 48th/B (Day)

Department of Business Administration

Dhaka International University

iii

LETTER OF TRANSMITTAL

27/11/2016

To,

Sayma Sharmen

Lecturer

Department of Business Administration

Dhaka International University

Subject: Submission of report on “Bikroy.com”

Dear Sir,

It is an immense pleasure for us to submit you the report titled “An E-commerce Business

Organization in Bangladesh: Bikroy.com”. We have tried our level best to fulfill all

requirements of this report and tried to follow your instructions while preparing this report.

We earnestly thank you for your guidance during the preparation of this assignment. Any sort

of suggestion regarding the report will be greatly acknowledged.

It would be a profound pleasure for us if the report can serve its purpose. We would be

available in any time to explain you any queries if feel necessary.

Thanking You

Sincerely Yours

Md. Mahfuz Hasan

On Behalf of the Group: Amistad

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EXECUTIVE SUMMARY

The buying and selling of  products and services  by businesses and consumers through an

electronic medium, without using any paper   documents.   E-commerce is widely considered

the buying and selling of products over the internet, but any transaction that is completed

solely through electronic measures can be considered e-commerce.

E-commerce activity is more recent, and usually requires a business to play the middleman

companies like Bikroy.com. The way it works is companies that have products to sell list

them through a third-party site. Consumers looking to purchase products visit the site and

search the available products. The consumer purchases the product and the seller is

responsible for delivering the product. The business that plays the middleman usually

requires a transaction fee from either the seller or buyer.

The total report contains the details about Bikroy.com. It includes the history, vision, mission,

functions of this company. Strategies regarding marketing, financing, human resource

management and branding are executed here. The factors that are used to be succeeded, the

IT purposes and the product categories are enlisted also. The report also contains the SWOT

analysis, findings and recommendations for Bikroy.com.

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Table of Contents

INTRODUCTION:...................................................................................................11. HISTORY OF BIKROY.COM:.............................................................................12. MISSION OF BIKROY.COM:..............................................................................13. VISION OF BIKROY.COM:................................................................................24. FUNCTIONS OF BIKROY.COM:.........................................................................25. MARKETING STRATEGY OF BIKROY.COM:....................................................26. BRANDING STRATEGY OF BIKROY.COM:........................................................37. HUMAN RESOURCE MANAGEMENT STRATEGY OF BIKROY.COM:...............48. FINANCIAL STRATEGY OF BIKROY.COM:.......................................................49. SUCCESS FACTORS OF BIKROY.COM:.............................................................510. FUNCTIONS OF INFORMATION TECHNOLOGY OF BIKROY.COM:...............611. PRODUCTS OF BIKROY.COM:........................................................................712. SWOT ANALYSIS ON BIKROY.COM:.............................................................913. FINDINGS FROM BIKROY.COM:...................................................................1014. RECOMMENDATIONS FOR BIKROY.COM:...................................................12CONCLUSION:.....................................................................................................12References:........................................................................................................14

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Introduction:

Internet usage in Bangladesh is growing at a rapid pace. Recent report says that there are

three crore people in Bangladesh have already access to internet communication while two

crore more will soon enjoy the facility. It leads to significant changes in the way we go about

our daily lives. As a result of it, the e-commerce website is being popular day by day for

some convenient features to buy and sell through internet. E-commerce sites in Bangladesh

are trying to do every possible thing to win trust of customers. Because of low overhead costs

many e-commerce websites offer great deals on products that may not be found in normal

market place. Bikroy.com comes into the market with the aim of providing a

credible platform for online buyers and sellers to interact. The website provides a simple,

safe and fast buying and selling experience for the users that is completely free.

1. History of Bikroy.com:

Bikroy.com was launched in 2012 and has sections dedicated to private and business

advertisements for cars and vehicles, property, electronics, home appliances and personal

items, sport and hobby items, and jobs, among others. Classified advertisements are currently

placed on Bikroy.com free of charge and remain on the site for a period of 60 days.

Bikroy.com is available in English and Bengali. Bikroy.com, the largest

advertisements website, now ranks next to Facebook and Google in Bangladesh. Biroy.com

has earned name and recognition distinguishes itself from classified advertising websites.

Bikroy.com allows a buyer to connect with thousands of sellers and vice versa, allowing

transparent pricing.  In a traditional store, the buyer and seller are limited by the necessity to

be physically present at the store. Through Bikroy.com, a seller can easily reach many more

buyers around the country quickly and efficiently. Furthermore, highly skilled customer

service and fraud prevention teams are superior in this company. Bikroy.com is and always

has been a portrayed as a Bangladeshi website. The majority of the sites’ users are

Bangladeshis, and since the website does not sell goods on its own, it means that

Bangladeshis sell to other Bangladeshis.

2. Mission of Bikroy.com:

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Mission of Bikroy.com is to build leading online marketplaces in Bangladesh while creating

sustainable value for the community. In this regard, Bikroy.com is an online classified site

which has given customers access to second hand goods as well as setting up a transparent

marketplace for them where market prices are dependent on supply and demand of goods,

rather than artificial price fixing.  Bikroy.com began its operations 4 years ago, and very

quickly became the largest online marketplace in Bangladesh.

3. Vision of Bikroy.com:

In the near future Bikroy.con will expand its value added services for its customers and

business partners, and allow them to buy and sell goods more easily.  In this regard,

Bikroy.com has already launched ‘Bikroy Delivers’ within Dhaka, which allows their sellers

to deliver their goods directly to the buyer through them, and thus increases the level of

security for both parties.

4. Functions of Bikroy.com:

Bikroy.com is a website where anyone can buy and sell almost everything. The best deals are

often done with people who live in same city or same street. That’s why on Bikroy.com, it's

easy to buy and sell locally. Everyone who wants to buy and sell have to select region. It

takes less than 2 minutes to post an ad on Bikroy.com. One can sign up for a free account and

post ads easily every time. Bikroy.com has the widest selection of popular second hand items

all over Bangladesh, which makes it easy to find exactly what are looking for. So if anyone

looking for a car, mobile phone, house, computer or maybe a pet, he/she will find the best

deal on Bikroy.com. Bikroy.com does not specialize in any specific category. Here one can

buy and sell items in more than 50 different categories. It also carefully reviews all ads that

are being published, to make sure the quality is up to the standards.

5. Marketing strategy of Bikroy.com:

Bikroy.com has been doing well in their marketing strategies by which they are targeting the

final consumers and reach them as soon as possible. The integrated marketing planning is one

of the most vital tools for Bikroy.com. Here the marketers use different promotional tools like

the following:

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TV advertising: Bikroy.com for being the largest online business in terms of selling

has using the concept of TV advertising from the very beginning of its journey. TV

ads has become on the most important and vital way of communicating with the

different guys from different sectors. It has potential market in Bangladesh and that’s

why it’s still working better.

Billboard: Bikroy.com uses the painted billboard on that it can easily have to public

access to share what actually this company is doing. It’s a huge opportunity for them

to make them different in the market through the strategy of billboard selection.

Facebook: Now a day’s not only personal branding but also for organizational

perspective Facebook has been using worldwide. For this reason bikroy.com also uses

Facebook to reach its target customers as its online selling website where everyone

can get all sorts of services like selling and purchasing anything. Bikroy.com took

Facebook as a potential source of sharing information and captures the market of the

young generation.

Radio ads: In our country almost 73% mobile phone has radio accessibility and 34%

use the utility of Radio. So bikroy.com uses the Radio ads strategy to reach the

customers because it’s another easiest way to reach the customers.

YouTube: Most of consumers in our country are using YouTube for their different

purposes and bikroy.com is getting the real test from its marketing strategy.

Search Engine Marketing: Search engine marketing is a from internet marketing

that involves the promotion of website by increasing their visibility in search engine

results pages through optimization and advertising. So whenever consumers are trying

to see the website it’s become easy for them to find out website and know the

offerings of the Bikroy.com for their clients.

Mobile Marketing Advertising: Bikroy.com has been using this marketing strategy

to capture the market and information their offerings to the mass people. Those who

have internet access and who is willing to buy something is the target customer of

Bikroy.com

Networking: An extremely important way to promote your website is through

networking. Bikroy.com has been trying to build strong network among the country

and create good image in the market.

6. Branding strategy of Bikroy.com:

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Customers have lots of variety so the organization should connect them emotionally and

build long term relationship with them. The Bikroy.com should involve their customer

emotionally loyal so that it helps them to build sustainable relationship. Having a strong and

established brand in the market, determine the strong position o the product or service in the

market. If any organization can establish them as a brand in the market their success is must.

None can defeat themselves from being successful because people have soft corner towards

the branded products or services. Ultimately we can say that it determine the success of the

business.

The strength of the company brand is the indicator of the company market share because

brand helps to increase the market share of the organization. So every branded organization

evaluates their brand performance in order to know the company performance. Measuring the

brand is determine the way how close the brand of its customers. It also helps to increase the

selling of products or services within shortest possible time. Ultimately we can say that brand

has unique value towards the market growth, market share and profit or revenue earning of

the organization.

To promote Bikroy.com many event activities have been planned, including, but not limited

to their recently-ended Deem Parbe Na Charity Drive with the JAAGO Foundation, their

Qurbani Cow Haat activity, and university outreach programs. The initial aim of this

company was to be the only classifieds site of any note in Bangladesh. Given that it came in

as the number two player and is now the largest online marketplace in Bangladesh.

7. Human Resource Management strategy of Bikroy.com:

Human Resource Management (HRM) is the term used to describe formal systems devised

for the management of people within an organization. The responsibilities of human resource

manager of Bikroy.com fall into some major areas like staffing, employee compensation and

benefits, defining work, hiring, performance management, organization development, safety,

wellness, employee motivation, communication, administration, and training.

8. Financial strategy of Bikroy.com:

Financial implication will be transparent for doing good e-commerce business. For easing the

selling, buying, transaction e-commerce is created. But e-commerce business is not that much

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easy as it seems. E-commerce business will be profitable if an organization get too much

customers.

Bikroy.com is 100% committed to making sure that the experience on this site is as safe as

possible. Here one can find advice on how to stay safe while trading on Bikroy.com. This site

is saying to meet the seller in person, check the item and make sure that satisfied with it

before make a payment. Buyers don't make any payments before receiving an item. Sellers

don't send an item before receiving payment. This site is also requesting to avoid anything

that appears too good to be true, such as unrealistically low prices and promises of quick

money.

Financial information includes bank account details, eBay/PayPal info, and any other

information that could be misused should not be provided. Bikroy.com does not offer any

form of payment scheme or protection. This site will be pleased if anyone makes report any

emails claiming to offer such services. Avoid using online payment services unless being

100% sure about genuine and avoid anyone that asks for extra fees to buy or sell an item or

service. Bikroy.com never requests payments for its basic services, and doesn't allow items

that are not located in Bangladesh, so import and brokerage fees should never be required.

9. Success factors of Bikroy.com:

Now Bikroy.com is one of the top and successful online businesses in Bangladesh which has

already made them as a world class brand in the market. There have been some variables

which helps Bikroy.com to being one of the market leaders in this sector. Gradually it has

introduced new ways to buy and sell products through online as has become popular for its

ease use and access. It has implemented concentrated, differentiated as well as mass

marketing strategy to reach the target market. Several factors have a role in the success of

Bikroy.com. These may include:

Bikroy.com is providing value to customers. Bikroy.com can achieve this by offering

a product or product-line that attracts potential customers at a competitive price.

This site is providing service and performance by offering a responsive, user-friendly

purchasing experience.

Bikroy.com has an attractive website and a blog. The tasteful use of color, graphics,

animation, photographs, fonts are the basic factors to attract the users.

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It is providing reliability and security including parallel servers, hardware

redundancy, fail-safe technology, information encryption, and firewalls.

The site is letting customers help themselves. Provision of a self-serve site, easy to

use without assistance, can help in this respect.

Helping customers do their job of consuming through constructing a commercially

sound business model.

Setting up an organization of sufficient alertness and agility to respond quickly to any

changes in the economic, social and physical environment.

The site is using the most modern and updated technology.

Bikroy.com success grows as build a solid reputation and establishes credibility by a

secure website, which includes clear symbols of security commitments.

Bikroy.com has good customer support team who knows how to tackle the real-time

customer issues on round-the-clock basis as customers can use the site at any time of

the day.

10. Functions of Information Technology of Bikroy.com:

Information technology (IT) has become a vital and integral part of every business plan.

From multi-national corporations who maintain mainframe systems and databases to small

businesses that own a single computer, IT plays a role. The reasons for the omnipresent use

of computer technology in business can best be determined by looking at how it is being used

across the business world.

Website is the hub of the business of Bikroy.com. IT makes sure that it is an attractive and

effective website that conveys a sense of confidence. To ensure the website accomplishment

of Bikroy.com in this purpose, this company needs help from information technology

professionals to build, maintain and update it.

Bikroy.com is using IT to improve the way they design and manage customer relationships

that capture every interaction a company has with a customer. If a customer calls a call center

with an issue, the customer support representative will be able to see what the customer has

purchased, view shipping information, call up the training manual for that item and

effectively respond to the issue. The entire interaction is stored and managed by IT section of

Bikroy.com.

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Bikroy.com stores digital versions of documents on servers and storage devices. These

documents become instantly available to everyone in the company, regardless of their

geographical location. It is possible to store and maintain a tremendous amount of historical

data economically with the help of IT.

11. Products of Bikroy.com:

The products of Bikroy.com are categorized according to the following items:

Electronics: Find great deals for used electronics in Bangladesh including mobile phones,

computers, Laptops, TVs, home theatres and much more. The below electronics items are

sold in this site:

Mobile Phones

TV & video

Cameras & Camcorders

Mobile phones Accessories

Audio & Mp3

Video Games & consoles

Other Electronics

Personal Items: Buy & sell clothing garments, shoes and other personal items including

handbags, perfumes, children’s toys and handmade items in Bangladesh. These are:

Clothes, Footwear & accessories

Health & Beauty

Other Personal Items

Handcraft

Education: Buy & sell books and magazines, find tuition, classes and other educational

resources in Bangladesh.

Tuition

Other Education

Books

Home appliances: Buy & sell new used home appliances including furniture, Kitchen,

garden products and other household items in Bangladesh.

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Furniture

White Goods & Kitchenware

Home & garden

Other Home appliances

Pets and animals: The items in this category are:

Pets

Accessories

Farm animals

Other pets &anima

Property: View listings for property in Bangladesh. Find the cheapest rates for apartments,

commercial and residential properties, as well as for land and plots.

Apartments & Flats

Plots & Land

Commercial Property

Rooms

House

Garages

Jobs & services: Post and apply for jobs and career opportunities in Bangladesh. Search for

job vacancies.

Services

Job openings

Food and agriculture: Find food & edible products, including fresh fruits and vegetables,

meats, fish, seafood, seeds, plants, and other products in Bangladesh.

Other food & agriculture

Crops seeds & Plants

Fish

Vegetables

Fruit

Meat

Leisure, sport & Hobby: Buy and sell used musical instruments, sports gear and

accessories, art and collectibles, movie, music and more.

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Music instruments

Sports Equipment

Art & collectibles

Movies, music & literature

Tickets

Other leisure, Sports & Hobby

New and used care and vehicles: The car and vehicles items are:

Motorbikes & scooters

Cars

Three wheelers & Cycles

Parts & Accessories

Truck, Bus & Heavy-Duty

Boats & Water Transport

12. SWOT analysis on Bikroy.com:

A SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses,

opportunities and threats involved in a project or in a business venture. A SWOT analysis can

be carried out for a product, place, industry or person. It involves specifying the objective of

the business venture or project and identifying the internal and external factors that are

favorable and unfavorable to achieve that objective. Here we are going to analyze the SWOT

analysis of Bikroy.com.

Strength:

C2C business model.

Revenue model is advertisement.

Target audiences are all Bangladesh’s population.

Hand to hand payment system during receive the product.

More than Thirty different categories product.

Easy to use the site

No need registration to upload ads.

Hide personal information to post ads.

Support both of English and Bengali language.

Support social network.

Weakness:

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No value propositions as most of the products are old.

C2C causes consumer generated business model.

Lack of B2B, B2C business model.

No multiple revenue models like sales of goods, transaction fees, subscription

fees, and affiliate.

No online payment system.

Shipping policy is up to consumers

Customers cannot see the products different dimension, no shopping card

options.

Currency support is only BDT/Taka.

No support for global reach.

No competitive advantages as consumer generated.

Lack of market opportunity as not included multiple business models.

Opportunities:

Has option to turn multiple business model

Has option to eliminate market middlemen.

Can create employment.

Audiences may gather IT knowledge.

Option to run secure online payment system that helps one step to run E-

banking.

M-commerce that may cover all target audience.

Marketing that may bring first mover facility.

Threats:

Market strategy may fail because user generated.

Products are old that’s may be user reduce.

Risk of hand to hand transaction because of dishonest user.

Shipping policy time consuming. So consumer may move to better one.

Firm profit may fail down because of limited revenue model.

13. Findings from Bikroy.com:

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After analyzing about Bikroy.com we can understand that most of the consumers of

Bikroy.com are young male and female. The elder people go there but the ratio of the

consumers are youth. The young generation like school going children, college and

university students are more there. Most of the respondents were young and middle income

group through there were little income group people too.

Most of the consumers were there because they are loyal and they got better service from

Bikroy.com. Majority of the consumers came here for online marketing which maybe

occurred by recommendation receives from friends or family. The growth of internet

penetration in Bangladesh has the potential to disrupt the way we have seen internet

traditionally. Some of the consumer get message from Facebook, Twitter, LinkedIn, My-

space, social networking sits and some got message from outdoor networking sites like TV

advertising, Magazine and others sources.

Here the Bikroy.com use concentrated marketing strategy to reach its target customers and

most importantly they did it successfully. Most of the times they were successful because

they tried to reach the middle class consumers and that’s why their marketing strategy were

concentrated for the middle and upper middle class people. The findings also highlighted few

problems that Bikroy.com may be facing, like:

High price and High competition: Some of the respondents find Bikroy.com price

to be high that’s why sometimes the transaction become less though Bikroy.com has

nothing in this regard. The bikroy.com has no control over price that’s why

sometimes it’s become irritating for the consumers whenever some charges high price

Fewer support centers: As Bikroy.com is mainly online business firm, they needed

some practical support from outlets where they can get more information about it. For

many customers they are not easily accessible that’s why some guys can’t really

believe in online selling.

Online ads: The market is growing day by day the consumer becoming dependent

online for its outstanding effect on daily lives. The online advertising is not adequate

enough for capturing the whole market.

Other problems: There are some other information in the form of Weaknesses and

Threats.

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14. Recommendations for Bikroy.com:

The recommendations for Bikroy.com are as given below:

Provide value for the products offered: If a perception is created that Bikroy.com is

offering its customers with the products with better quality and assurance it will not

being offered by others; than Bikroy.com will be able to differentiate themselves from

their competitors in order to still keep premium pricing for their products. This will

add more and more value to the consumers and they will become loyal consumers to

the Bikroy.com.

Conduct more aggressive promotion: Increasing promotional programs never

proves to be damaging for any firm but only proves to be beneficial, it not only helps

to attract potential customer, but also new customers boosting customer traffic and

sales. Also they should start focusing on advertising all products not only new

products in order to meet the sales target for all products.

Make maximum innovations: Bikroy.com should bring innovation in every sector of

its business otherwise the competitors will grab the opportunity to being better in the

market. Therefore it has become very important to keep making constant innovations

in design features and specifications in order to differentiate your product from

competitive brands and to be able to dominate the market. So, maximum innovation

will lead the firm to be one of the leading organizations in the market.

Open more Bikroy.com outlets in different areas: Since Bikroy.com relies on

online direct and retail distribution methods, it’s important for them to expand its

direct reach through its own stores and retail stores by locating stores in a more

reachable district, like residential areas so that people can have an easy access to the

service point. It will create more brand loyalty of the product and they will try to have

more service from the product. It will contribute to their bottom line and increase

brand knowledge among the consumers.

Conclusion:

Though being a under developed country, selected segments of the Bangladeshi business

community has embraced technology with reasonable success. Personal computers and the

Internet are also emerging as day-to-day business tools. These positive indicators are favoring

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the prospects of e-commerce in Bangladesh. It’s hard to change people’s behavior in regards

to transacting online especially in Bangladesh, where people are not used to technology and

the internet.  However, in the past year or so, the response for the public has been

overwhelming, as millions new internet users have joined our ranks. In spite of various

barriers Bikroy.com is established in Bangladesh. Bikroy.com is extremely happy with the

market trend, and can only see it continuing.

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References:

www.google.com

www.bikroy.com

www.slideshare.com

www.academia.com

www.assingmentpoint.com

www.etradelisting.com

blog.bikroy.com

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