Coolbuy.com’s Cool Business Model: Marketing Research Design Conundrum

Coolbuy.com’s Cool Business Model: Marketing Research Design Conundrum

Satish Kaul (Satish) was a graduate (Bachelor of Business Administration), from a premier institute in Delhi, with distinction. Satish had two impressive placement offers too, but he aspired to establish a business for which he had prepared a business model while pursuing his graduation. The business model had also won the first prize in an All-India competition held for undergraduate students in November 2013. The business model was prepared based on his personal experience of being a hosteller for three years.

Satish basically hailed from Lucknow and when he initially joined the hostel to pursue his graduation, he had to run from pillar to post to procure the things he needed to settle in the hostel. It took quite a toll on him as he was new to Delhi. However ironically, the experience triggered a business idea based on which he prepared a business model that won laurels.

Immediately after his graduation, with the help of his Faculty-mentor Prof. Arun Khosla and two of his batchmates – Vimal Jain and Vishal Jain, he registered a company under the name of CoolBuy Ventures Limited under Section 25 of Indian Companies Act, 1956. The portal – www.coolbuy.com – went live on April 26^th 2014................

Assignment Questions

I. What are the differences between Exploratory and Conclusive types of Marketing Research? Which of these two do you think would be most applicable to coolbuy.com’s Marketing Research Design?

II. What is the importance of budgeting and scheduling for a Marketing Research Design project? What would be the appropriate Budgeting and Scheduling for coolbuy.com’s Marketing Research Design, based on the type of research chosen in the previous question?

III..............

Exhibits

Exhibit I: CoolBuy’s Product Packages

Exhibit II: CoolBuy’s Quarterly Sales Breakup Value (in Rupees)

Coolbuy.com’s Cool Business Model: Marketing Research Design Conundrum

Synopsis

This caselet enables to introduce the students/participants to the importance and process of formulating a Marketing Research Design. CoolBuy is an online market place player catering to the requirements of students living in hostels/apartments, with its unique business model. It clocked in good revenues through the first 3 quarters after the website went live on April 26th 2014. As, the fourth quarter’s sales fell considerably Satish Kaul, the Founder-CEO of CoolBuy, took advice from his faculty-mentor and was looking forward to a detailed Marketing Research Design that can probably provide insights into the reasons for the decreased sales and offer appropriate suggestions to increase the sales from the first quarter of 2015.

Prerequisite Conceptual Understanding

The students/participants must be encouraged to read the following as it would not only broaden the context of learning but would also provide appropriate perspectives on Marketing Research:

• • Naresh K. Malhotra and Satyabhushan Dash, “Research Design”, Marketing Research An Applied Orientation, 6^th Edition, Pearson Education, 2010 – To understand the concept and types of research design (Exploratory and Conclusive) and the implications of each one

Case Positioning and Setting

This caselet can be used in:

MBA Program – Marketing Research Course – To introduce the participants/students to the concept of Marketing Research Design and the types of Research Design (Exploratory and Conclusive)
MDPs/EDPs – To familiarize the participants with the importance of Research Design

Assignment Questions

• I. What are the differences between Exploratory and Conclusive types of Marketing Research? Which of these two do you think would be most applicable to coolbuy.com’s Marketing Research Design?
• II. What is the importance of budgeting and scheduling for a Marketing Research Design project? What would be the appropriate Budgeting and Scheduling for coolbuy.com’s Marketing Research Design, based on the type of research chosen in the previous question?
• III. ...........

Preamble to this Caselet Analysis

This caselet’s purpose is to introduce the students/participants to the importance and process of drawing up a well-thought Marketing Research Design. Building on from the previous chapter (of defining an appropriate Marketing Research Problem), this caselet develops on the idea of drafting an effective Marketing Research Design, including Budgeting & Scheduling and preparing a comprehensive Marketing Research Proposal based on all these inputs. Accordingly, this caselet in the light of CoolBuy’s sales problem orchestrated the classroom analysis and discussion as shown in Exhibit (TN)-I:...............