Click here to review the details. We are providing you case studies, Business models, Marketing strategies and online tools to grow startup within You.Deepak Roy is the brain behind this initiative who has a vision that India can be a superpower if we have startups growing in every alternative bedrooms, but this can't be possible without You .So let's join together be the building block of future that we are hoping for. but today it sells more than 5000 tickets per day. Free access to premium services like Tuneln, Mubi and more. Answer (1 of 2): That's simple and similar to supercash model of mobiqwik Basically that's a closed loop cash and can only be used on their APP/WEBSITE as a deductible from the overall payment made upto a certain amount. redBus can use the options of. Thousands of routes across multiple travel options. Since then, it has developed quickly to establish a virtual monopoly in Indias bus ticketing market. Red Bull's heavy emphasis on brand image rather than the new product aligns with its consumer-based business model. According to the latest news, redBus is soon coming up with a rail ticket booking application named redRail in association with IRCTC. Its one step closer to fulfilling every need of a traveller along with its destination requirements. The SlideShare family just got bigger. Increasing The ROI On Next Gen Store SystemsIncreasing The ROI On Next Gen St Datacraft Asia Strategy For Services 2010, [GAMENEXT] Building Critical MASS (inMobi), Mural Vas For Telcos State Of The Industry Slideshare, FMCG v/s Pharmaceuticals: Strategic Alliances & Joint Ventures. Marketing is essential for the growth of any business, to know more about marketing and its digital aspect, check out. They have over 700 bus operators with 10,000 bus listings on their website. It is estimated to employ almost53 million people by 2029. Press Esc to cancel. By accepting, you agree to the updated privacy policy. redBus 1.0 was an online bus ticketing start-up that began with a couple of bus operators in Bengaluru. Target Customers: The primary target consumers of redBus are those who want to book a bus ticket without having to go to a physical location. Senior Talent Acquisition Specialist at redBus - Hiring top talent across Engineering, Tech & Product, and non-tech roles for redBus. There have been three major phases of redBus business model. She likes to describe herself as a curious person who likes to explore different experiences. redBus, which claims to sell20 milliontickets per quarter and hold75%of the online bus ticketing market, is one such company that has drastically improved the bus ticket purchasing experience by offering ease and convenience to millions of people who travel by bus. UTTHC uses donation and donation-matched funds to pay clinic fees for patients who apply and qualify for Uplift. by Aditya Shastri | Business Model, Case Studies | 0 comments. Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. Online bus ticket booking system is a popular architecture to understand the system design. Its approach to social media is quite different from others. Their revenue model contains a very interesting fact about them. As in the case of redBus, digital presence only helped them to come up with a solution and establish a great venture out of that. Looks like youve clipped this slide to already. Social media growth can help Bus Redbus to reduce the cost of entering new market and reaching to customers at a significantly lower marketing budget. This become a tremendous achievement and the organization skilled a large boom graph. Allu Arjun, the actor, was recently announced as the companys official brand ambassador. Required fields are marked *. redBus is considered an industry transformation change agent that has altered the dynamics of the bus travel booking industry by using a disruptive business model to eliminate the pain points of the bus operators and . | 4,622 followers on LinkedIn. . Founded in 2006, redBus is part of Indias leading online travel company MakeMyTrip Limited (NASDAQ: MMYT). According to the latest news, redBus is soon coming up with a rail ticket booking application named . Redbus make money by making false promises. Booking Buses Online with redBus. In this exclusive interview with rediff.com, the. You can learn these digital marketing skills too, with our IIDEs 3 Month Advanced Online Digital Marketing Course. Its business model is quite simple and strong but most importantly, RedBus is wildly famous and welcomed among the common people. Redbus is developing a software called BOSS Bus Operators Software System used by most travel agents and operators. A minimum of 5000 tickets get booked through redBus daily. The commission is around 10-20% of the value of ticket being sold. 1 What is Googles Business Model? redBus works online, it cuts the use of middlemen. Its one step closer to fulfilling every need of a traveller along with its destination requirements. The pandemic even though a terrible thing can be used to ones benefit if used properly. At redBus, our vision is to make travel simple and fun for all, and our core values guide us in making this possible. No doubt, redBus came out radiantly. The model will assess the threat of new entrants as well as the availability of substitute products or services, the bargaining power of suppliers and customers and competitive rivalry in the industry. These core values can be seen in the projects that we undertake, and the way in which we solve problems for our customers. Increase their Network by Attracting New Bus STEP 2 Operators To Penetrate the market RedBus needs to Expand its Network of Bus Operators Attract new Operators by showcasing them the advantages they will avail. If you want to grab some work from home opportunities then first you must learn several digital marketing skills from subject area experts and digital enthusiasts because their knowledge and expertise will help you to mould into skilled professionals of today & tomorrow. 3) Use Creative Bill Boards and Hoardings. By providing widest choice, superior customer service, lowest prices and unmatched benefits, redBus has served over 18 million customers. redBus - World's Largest Online Bus Ticketing Platform with the largest inventory of operators, routes & RTCs. Unique app features:Customers may track their bus, book buses based on their ratings, and provide reviews after the bus trip has ended. However, in the beginning, RedBuss important goal becomes to get as many bus operators as possible. So, lets start and analyse about RedBus as an Online ticketing platform. With the world now living indoors, everyone has to adapt to going online for everything but this wasnt the case for redBus now, was it? From an estimatedUS$ 75 billion in FY20, Indias travel market is expected to grow toUS$ 125 billion by FY27. . Because the business is entirely online, the products and services offered are nearly limitless. And known as the largest online bus ticket company. ~Ashish Kashyap, chief executive of Ibibo group, Prakash Sangam, chief executive officer ofredBus, How does Upstart work and make money: Business Model, How does Palantir make money: Business Model & Competitor Analysis, How does Carvana make money: Business Model & Competitor Analysis, How does Turo work and make money: Business Model, How does Roku make money: Business Model & Marketing Strategy, How does DraftKings make money: Business Model & Marketing Strategy, How does Redfin work & make money: Business Model, How does Grubhub work & make money: Business model, How does Opendoor work & make money: Business Model, How does Zendesk work: Business Model & Marketing Strategy, How does Tripadvisor work and make money: Business Model, Empowering Business Model & Marketing Strategy of Salesforce, How does Planet Fitness work and make money: Business Model, How does Shutterstock work and make money: Business Model. - E-Commerce and Social Media Oriented Business Models - E-commerce business model can help Bus Redbus to tie up with local suppliers and logistics provider in international market. Weve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data. For better performance, they joined the TiE Entrepreneurship acceleration program to upskill their network and learn more about their presentation skills. Business Model of Make My Trip revolves around online travel services. This unique quality in the business model of redBus highlighted them amongst the top players. It offers great deals on various occasions, as well as some exclusive discounts. Livspaces technology-enabled business model provides a one-stop renovation solution for homeowners, from design to managed last-mile fulfillment for all rooms in a home. Required fields are marked *. As we know that their primary revenue model is very simple. Competition is good but too much competition can be dangerous for a business too. According to the company, it has . redBus was founded in the year 2006 by three people, Phanindra Sama, Sudhakar Pasupunuri and Charan Padmaraju, all of whom are engineers from the Birla Institute of Technology and Science, Pilani, India. Quirky Marketing:redBus also gets a lot of notice for its unique marketing initiatives. We hope this blog on the SWOT analysis of redBus has given you a good insight into the companys strengths, weaknesses, opportunities and threats. Since its inception in 2006, RedBus has been an enormous success, and with the booming tourism economy, it will only get bigger. The new line's all inclusive fares . According to John Bland, Silversea's President in 1993-94. Strategy IMPLEMENTATION Continued . Your email address will not be published. redBus business proposal is simple the company can book your bus tickets online. Digital Marketing Courses Across The World, Mumbai | Navi Mumbai | Andheri | Mulund | Vashi | Thane | Churchgate | Delhi | Noida | Hyderabad | Gurgaon | Udaipur | Surat | Pune | Patna | Nagpur | Lucknow | Kolkata | Jaipur | Indore | Chandigarh | Ahmedabad | Nigeria | Dubai | Abu Dhabi | Egypt | Nepal | Malaysia | Sri Lanka. Blockchain + AI + Crypto Economics Are We Creating a Code Tsunami? Last time, we saw the impressive business model of redBus, this time we will look at the outstanding SWOT analysis of redBus. Jain was working as a marketing manager at an . Useful Tip: As you can see that the businesses that adapted digital marketing strategies from the beginning are now generating profits in 10 digits. Arjun will be in charge of the companys extensive campaigns, assisting it in reaching out to his many followers around the country. To provide great benefits and offers for their valuable customers, they are dedicated to providing great customer service. Just like redBus, many offline businesses are switching online. People had to deal with many inconveniences while booking bus tickets, whether it was enormous lines in front of ticket offices or long waiting hours on the phone. LivSpace business model: Organizing the home-dcor industry. Over 17 million customers worldwide trust redBus for booking cheap bus tickets to their desired destination. Redbus made the bus operator technically feasible and gave s. It is also the biggest aggregator of bus tickets in the country. View RedBus runs on a.docx from SDEC 194 at Indian School of Business. Today, thanks to our enthusiastic employees, devoted partners and our happy customers; abhibus.com has become India's fastest growing . How? By donating to Uplift, I acknowledge and agree to these terms. Revenue generation:Bus operators that use this software to manage the seats on their fleet of buses pay an annual fee for the software. Women have their section with their seats. Such analyses are often done by companies to know their standing in the market. - E-Commerce and Social Media Oriented Business Models - E-commerce business model can help Bus Redbus to tie up with local suppliers and logistics provider in international market. They put their experience and relationships to good use and are available to solve their travel issues. 1. Business -To- Business Models (B2B): When the dealings or the transactions take place between two companies or the business then this type of business model is known as business to business models. But their concept was rejected by the bus operators due to the fact that they were well in their comfort zone of traditional methods. Save my name, email, and website in this browser for the next time I comment. They take care of travel beyond ticketing by providing you with innovative and unique benefits. There was an urgent need for transparency in the industry so that customers could use a centralized system to get information on the number of bus routes in operation, rates, availability, seat choices, cancellations, refunds, and feedback options. That is precisely what happened. Digitalodd provides you all the strategies and ideas applicable to start and scale your business. This is the basic model. A free inside look at company reviews and salaries posted anonymously by employees. In the very next segment, we have the money-making process of redBus. Why not buses, then? Travel agents have access to an online agent portal or to the software itself. Additional services:In addition to ticketing, redBus also provides accommodation. It has good market predictability and more market stability. Then, the founders went for the customers pool to drive greater travellers site visitors towards their website. On occasion, some funds may be used toward Uplift program administration and materials to sustain the program. Decision makers RedBus has a partnership form of business ownership. As it eases its major issue with finding a fine bus for any destination. The initial step for Sama and his team was to determine the market prospects for their enterprise. Attractive marketing attracts a lot of customers which helps the company to grow profoundly. ~ redBus CEO Prakash Sangam told Sunday Express. . redBus, based in Bangalore, is the countrys largest online bus ticketing network. redBus was one of its kind and its a true inspiration for developing services for the betterment of common people. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. The company is popularly known for having a one percent fee and offering cash offers to buy up houses from their customers. As reported on skift.com, Expedia's CEO, while answering questions in a media briefing at the Expedia's Explore '18 conference in Las Vegas, Okerstrom announced, "The internet has been littered with the bodies of companies put out of business by Google.". Your email address will not be published. This technology platform connects the bus operators, travel agents, and bus travelers in a seamless and transparent manner. The interesting thing about Etsy is that it is a niche marketplace and a very specific . Section C The aggregator business model is simply a network concept that brings many unorganized vendors onto a single large platform with a single brand identity. RedBus definitely makes it more convenient and comfortable for its customers by providing multiple travel Bookings offers such as. redBus can make agreements with its travelling partner and bus operators to paste the redBus logo on their buses since redBus is giving a big bag of business to these operators. The ecommerce model includes the business-to-consumer, business-to-business, consumer-to-business and consumer-to-consumer models. redBus - India's number 1 bus ticketing and hotel room reservation platform, was founded in 2005 and is a part of the ibibo Group. Online Digital Marketing Course (4 months). The premise proved difficult to sell. by Aditya Shastri | Case Studies, SWOT Analysis | 0 comments. As the name goes a SWOT analysis tells us about the strengths, weaknesses, opportunities and threats of a company. RedBus has serviced over18 millionclients by offering the most options, the best customer service, the lowest pricing, and unrivaled benefits. Both services have a complementary relationship many redRail customers would seek bus services after arriving at their destination, as buses provide last-mile connectivity with a higher penetration than railways. An e-commerce business offers companies the extra convenience of not needing a physical store. Now that we know all the inside details about redBus, its time to dig into the SWOT Analysis of redBus. Our aspiration is to be the biggest partner forIRCTC(Indian Railway Catering and Tourism Corporation). And to this result, RedBus has millions of glad and loyal clients throughout the globe. 337 redBus India reviews. Opportunities are certain situations in which if things are done at the right time and right way, entire scenarios of companies can change leading to the companies benefit and boon. Social media growth can help Bus Redbus to reduce the cost of entering new market and reaching to customers at a significantly lower marketing budget. There Customer Service is a joke. We hope you find it interesting, would love it if you can spare some time sharing your view on it. They pay an annual premium for the software. 2 lakhs. The goal was to ensure they didnt have to leave their comfort zone to book a ticket and to assist them in getting a ticket when they needed it the most. They had to face several challenges, in the beginning, like, payment gateway issues and propagate the ideal culture, working environment and value system. Instagram :https://www.instagram.com/vysakh_gp/Email:contactgp619@gmail.comContact;Email:contactgp619@gmail.comInstagram :https://www.instagram.com/vysakh_gp. With a massive audience of more than 18 Million, they have expanded their roots across India, Malaysia, Indonesia, Singapore, Peru and Colombia. Not their business model but also their implementation, has made them one of the biggest acquisitions in the Indian startup scene. There have been three major phases of redBus' business model. The way it works is that the bus operators who use this software use it to manage the seats of their buses in their fleet. India Business News: Phanindra Sama and Charan Padmaraju, the engineers from Andhra Pradesh who created the pioneering bus ticketing service redBus seven years ago, have s Bridging the Gap Between Data Science & Engineer: Building High-Performance T How to Master Difficult Conversations at Work Leaders Guide, Be A Great Product Leader (Amplify, Oct 2019), Trillion Dollar Coach Book (Bill Campbell). , this time we will look at the outstanding SWOT analysis of redBus. . It took time and money for everything to come together. Taking the bus was his only option because he didnt know his schedule until the last minute. You can learn these digital marketing skills too, with our, Short term certification courses in Digital Marketing, If youre interested in learning more about digital marketing, you can check out our, Free Digital Marketing Basics Masterclass. In such scenarios, it is essential to come up with something new from time to time which brings us to redBus next weakness that is: In the business of selling online tickets there isnt much one can do more. How does Google make money? Learn how your comment data is processed. Dream11 is based on a freemium business model. A customer books his tickets and receives them directly through the app. redBus has over 18 million users from 24 states, 30,000+ outlets along 80,000 routes, and 2500 bus operators. redBus is wildly famous and welcomed among the common people. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. In the year 2006, a very innovative and problem-solving Idea came to the mind of Phanindra Sharma when he was struggling to find a bus for his way back home. There was no such website that existed before redBus, giving the an upperhand in the industry as well. The redBus business has stopped businesses of travel agents who were used to taking a commission for the booking. About redBus: redBus.in is India's largest online bus ticketing platform operating across India, SEA & LATAM (Part of GO-MMT group, Nasdaq: MMYT). redBus uses very innovative and attractive marketing strategies and this has been a trait since the birth of the company. Thank you for reading this case study! Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. redBus - World's Largest Online Bus Ticketing Platform with the largest inventory of operators, routes RTCs. Besides India, redBus has a global footprint with operations in Indonesia, Singapore, Malaysia, Colombia, and Peru. Different products incorporated by MMT or Make My Trip are Booking flights, hotels, holidays, buses, trains, and cars. Digital Marketing Courses Across The World, Mumbai | Navi Mumbai | Andheri | Mulund | Vashi | Thane | Churchgate | Delhi | Noida | Hyderabad | Gurgaon | Udaipur | Surat | Pune | Patna | Nagpur | Lucknow | Kolkata | Jaipur | Indore | Chandigarh | Ahmedabad | Nigeria | Dubai | Abu Dhabi | Egypt | Nepal | Malaysia | Sri Lanka. To better understand the SWOT analysis of redBus, refer to the infographic below: So let us first start by looking at the strengths of redBus from the SWOT analysis of redBus. While it is an opportunity, the pandemic is also a bane for redBus since if the number of COVID 19 cases increase, states can put a lockdown which ceases the operations of buses which will cause a huge loss for redBus. Not only this, RedBus provides its customers with tons of different offers to its customers to get better customer engagements. These analyses are not only done by companies to see their standing but also to see the standing of their competition. While online has its perks and benefits, it also has its fair share of disadvantages, the biggest of which is no direct interaction. Again,. You can rent, hire, or book buses online . People voted the internet as a media they couldnt live without. (redBus Facebook Cover Photo, Source: Facebook). Rather, they have a simple and legal business model. Dream11s Business Model of building a sports ecosystem. We've encountered a problem, please try again. Activate your 30 day free trialto unlock unlimited reading. The thought of offering customers the convenience of reserving a bus ticket through the internet came to him at that point. To meet these challenges and overcome them, they designed this amazing business model that helped them to reach a 70% share in the Indian online bus ticketing segment. With new ideas like Shakti and e-Choupal, PC and internet penetration were expanding in metropolitan regions and rural India. In the next two years, we want to be their number one ticket-booking partner. The commission is around 10-20% of the value of the ticket being sold. They got the guidance of great mentors. redBus charges commission from the bus operator on every ticket booked through their platform. RedBus runs on a Revenue model. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. Style Theory business model: revolutionizing the clothes rental industry. The business model of redBus is very strong along with its digital marketing strategies. In this blog, well go through redBuss strengths, weaknesses, opportunities, and threats in-depth, but before starting with the SWOT analysis of redBus, first, lets learn a little about the company.

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