About Myntra: A fashion and lifestyle e-commerce giant.
Myntra is among the first few sites that pop to our mind when we think of shopping online.! It was started as a personalized gifting B2B startup in the year 2007 and within a decade, it skyrocketed its place to the top of the e-commerce companies list in India. The company provides a wide range of varieties in fashionable clothing and accessories giving the customers a hard time resisting the temptation of the overwhelming collections.
“Product is the center point of growth” – Ankit Gupta
Ankit Gupta is a seasoned digital executive with a passion for product growth, an experienced individual with a high degree of work portfolio. Ankit has a reputation for building technology platforms and marketing strategies across the board which has proven to be consistent in nature. He strongly believes in the idea that internet-connected devices will change the digital ecosystem of the future; he specializes in the field of customer relationship management and customer retention with a lot of success to back him up.
A Glimpse into the Podcast
The podcast commenced with Ankit sharing his journey beginning from a business analyst, learning from the struggle of starting a business to being a product manager at a leading eCommerce company. The versatility of working in different fields helped Ankit find his interest in analytical values which led to his ever-growing passion for product growth. The conversation quickly succeeded into the in and outs of all the underlying strategies used by top companies around the world; he also helps us understand the different concepts of marketing strategies and how they can be managed effectively.
The conversation further proceeds into the analytical aspects of a tech strategy and customer relationship management and how these strategies should be looked at. He also shared some important inventories that are overlooked in the CRM strategy.
The role of the product in business growth.
Ankit believes that products are the center point of business growth, and that with the growing demand for products, companies have started to switch to product-led growth strategies due to its high yield and current market threshold. Ankit also describes the fundamentals of a product, he believes that a product should be simple in nature and effective enough to solve the key customer problem infused with innovation. The uniqueness of the product distinguishes itself from the competition. Generally known as ‘USP’ in the business world, it influences the growth of the business and also is the key to enticing customers to repeat the cycle of consumption.
Building a Tech-Product
In the course of this detailed conversation, Ankit enlightens us with the key aspects of building a tech product, he believes there are two stages in building a tech product, firstly building a solution and then moving to the actual development of the product. These two stages have been explained in the podcast in a very comprehensive manner stating each aspect involved in the process of making the ultimate product. He also explains the evolution of marketing strategies which has defined the current way of buying and selling of the product.
Tech Strategy: A big yes or no?
Every business wants to have an online portal in times of uncertainty, but having an online presence isn’t the straight path to victory. So a lot of thought goes into the development of a tech strategy. On this note, Ankit shares some quite valuable pointers that can help businesses understand its working and reach the right conclusion. He said that tech strategy has become a need rather than a choice due to the pandemic. But what a business needs to understand is that it is not about how they have to do it, but when they have to do it and how much they should do it. Covid-19 had accelerated the tech strategy implementation process quite remarkably.
Due to the presence of existing giants in this line of business, the new businesses are left with fewer options to either compete or collaborate, leaving most of them to take the route of collaboration.
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Truepush is a leading push notifications company helping global brands and businesses to re-engage with their customers and also hosts podcast series “Game of Growth” and “Nowledge” where prominent leaders are brought to the mic, to help our listeners get powerful insights. Where exclusive secrets behind the companies and the businesses on how they turned from small startups to the industry leaders are revealed, in this competitive & aggressively growing world. And how simple strategies became the keys to unlocking the biggest challenges of the business world.
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