Gupta, A. Our Mission Nykaa rests on three ideals - curation, information and personalisation We bring together the best offering, to help our customers make the right choice for their holistic beauty needs every step of the way India’s #1 Beauty Focussed Platform 3. 2.1 Political factors 2.1.1 Importance of political factors in the PESTEL framework Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of … Results Achieved. The internal resources of Nykaa com A Passion for Beauty are listed down. Course Hero is not sponsored or endorsed by any college or university. This includes both primary investment and secondary exit of some early stage investors. International Journal of Modern Social Sciences, 2(1), 34-43. Kotler, P., & Armstrong, G. (2010). The alternate solution for Nykaa com A Passion for Beauty is presented in the same way as the original solution, where it consists of a corporate level strategy, business level strategy and other recommendations. Under the VRIO analysis, the following steps are carried out: The analysis done on the 4 dimensions; Value, Rareness, Imitability, and Organization. The geographic presence in different regions can act as one of the major strength of the organisation. Nykaa shares offers and deal posts on its Facebook page that has helped the brand get a massive 1.4 million fan following. These solutions will also be the Nykaa com A Passion for Beauty case answers. In the problem identification stage, the problem faced by Nykaa com A Passion for Beauty is identified through reading of the case. Harvard Business Review cases involve a central problem that is being faced by the organization and these problems affect a number of stakeholders. The strategies devised and included in the Nykaa com A Passion for Beauty case memo should have a blue ocean strategy. Management, 3rd edition. The Nykaa com A Passion for Beauty case consisted of a central issue to the organization, which had to be identified, analysed and creative solutions had to be drawn to tackle the issue. Falguni Nayar, a former managing director at Kotak Mahindra Capital Company, founded Nykaa in 2012. It also helps one in developing the case study solutions. (2013). The Nykaa com A Passion for Beauty case should be in a professional format, presenting points clearly that are well understood by the reader. Strong online presence on different social networking sites and efficient social media management can. As NYKAA looks to expand and leverage its competencies and core capabilities, conducting the PESTEL analysis is imperative for developing effective strategies and achieving long-term growth objectives. In these cases, recommendations need to be made for these people. If you author a makeup blog, you can choose to advertise makeup products from Nykaa.com on your blog … Analysis of the industry is important as businesses do not work in isolation in real life, but are affected by the business environment of the industry that they operate in. Beauty retailer Nykaa has closed its series D investment round of Rs 1.65 billion. The organization can develop new products for the existing market. This is shown through a proper implementation framework. Nykaa.com is a market leader and a preferred destination for online beauty and wellness products in India.. With almost 400 curated, well priced and 100% genuine brands and 35,000 products, Nykaa prides itself on offering a comprehensive selection of cosmetics, skincare, haircare, fragrances, bath and body, luxury and wellness products for women and men. Lastly, each resource is assessed in terms of whether the organization can use it to an advantage or not. A fuzzy quantitative VRIO-based framework for evaluating organizational activities. It was launched as an ecommerce portal curating a range of beauty and wellness products. In the SWOT analysis, threats are those things which can be a negative for a business or organization. Strengths and Weaknesses are often restricted to company’s internal - resources, skills and limitations. It includes the bargaining power of buyers in the industry. ANSOFF matrix, environment, and growth-an interactive triangle. Nykaa com A Passion for Beauty needs to bring out certain responses from the market that it targets. from one product category with benefits obtained from the other. Nykaa com A Passion for Beauty should enhance the value creating activities within its value chain. A rare resource is one that is not commonly used by competitors. Similar would be the case for any other business unit or department such as human resources, finance, IT etc. It is a good idea to also propose alternative case study solutions, because if the main solution is not found feasible, then the alternative solutions could be implemented. Nixon, J., & Helms, M. M. (2010). Place these strategic business units in one of four categories. With over 35,000 products from more than 400 brands, Nykaa has achieved its active presence in over 1,000 cities that includes more than 10,000 zip codes. This is the alternate solution that would be implemented if the original proposed solution is found infeasible or impossible due to a change in circumstances. The Competitors analysis of Nykaa com A Passion for Beauty looks at the direct and indirect competitors within the industry that it operates in. Arranging events in a timeline allows one to predict the next few events that are likely to take place. Another helpful tool that should be used in finding the case study solutions is the PESTEL analysis. International Research Journal of Engineering and Technology (IRJET), 3(1), 384-388. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Bartol. Business Strategy Review, 14(2), 8-10. Strategic Change, 7(2), 101-109. The Company sells branded products under the categories of skincare, makeup, luxury products, fragrance, hair care, bath and body products for men and women, enabling customers to choose from a wide range of offers and discounts on all beauty, makeup and wellness products across the brands. Hussain, S., Khattak, J., Rizwan, A., & Latif, M. A. : A review of academic research from the last decade. Lastly, a good case study solution also includes an implementation plan for the recommendation strategies. improved access to raw material and quick product delivery to the final customer. (2013a). The CAGE Distance Framework identifies Cultural, Administrative, Geographic and Economic (CAGE) differences or distances between countries that companies should address when crafting international strategies.It was developed by Pankaj Ghemawat, an international strategy expert, to offer businesses a way to evaluate countries in terms of the “distances” between them. The organization can enter into new markets with new products. Rukmini Devi Institute Of Advanced Studies, SWOT Analysis of Nykaa com A Passion for Beauty.docx - SWOT Analysis of Nykaa com A Passion for Beauty SWOT analysis of Nykaa com A Passion for Beauty, SWOT Analysis of Nykaa com A Passion for Beauty, SWOT analysis of Nykaa com A Passion for Beauty can be based to make important strategic decisions, and accomplish the business objectives. | For example, if one suggests the organisation to focus on differentiation for competitive advantage as a corporate level strategy, then it can't be recommended for the Nykaa com A Passion for Beauty Case Study Solution that the business unit should focus on costs. It can include recommendations on how the organisation can work towards achieving these strategic objectives. Get step-by-step explanations, verified by experts. It is also important to understand what stakeholders are affected by the problem and how. The case solution first identifies the central issue to the Nykaa com A Passion for Beauty case study, and the relevant stakeholders affected by this issue. Birchbox is a company that develops a discovery commerce platform offering a personalized method for discovering, learning and shopping for beauty products in the market. It shows that one has developed an ability to prioritise recommendations and how these could be successfully implemented. SWOT Analysis stands for – Strengths, Weaknesses, Opportunities, and Threats that Adwaita Nykaa.com encounters both internally and in macro environment that it operates in. Identifying the importance of these activities in the cost of the product and the differentiation they produce. Strategic attributes and performance in the BCG matrix—A PIMS-based analysis of industrial product businesses. Blue ocean strategy. To do so, it will need to use the marketing mix, which serves as a tool in helping bring out responses from the market. Each of these resources are assessed in terms of the value it brings to the organization. Mason, OH: South-Western, Cengage Learning. Cash Cows are those strategic business units with high market share and low market growth rate. Competent and committed human capital can act as a powerful source of competitive advantage. Manoj joined Nykaa as VP Operations and Chief Supply Chain Officer and has ensured the processes and operations run like clockwork. This can be done by using company history. This could include suggestions, changes or recommendations to the company's vision, mission and its strategic objectives. The well-developed and efficiently integrated IT infrastructure can improve the operational efficiency. In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. Harvard Business Review: Strategic Planning, How Competitive Forces Shape Strategy. Ecommerce is a unit-intensive model and requires massive customer acquisition to offset spending costs. The steps to be followed in this analysis is as follows: The strategies identified from the Nykaa com A Passion for Beauty BCG matrix and included in the case pdf. Nykaa.com is the entrepreneurial dream of Falguni Nayar and was founded in April 2012. free shipping* Cash on Delivery lower cost, improved accessibility or enhanced brand image. Omnichannel lifestyle retailer Nykaa on Tuesday said Hindi film actress Alia Bhatt has made a personal investment in it through a secondary transaction for an undisclosed amount. This is an analysis carried out to know about the internal strengths and capabilities of Nykaa com A Passion for Beauty. These are either to further develop the product, penetrate the market, develop the market, diversification, investing or divesting. 2). It helps decide whether an organization should pursue future expansion in new markets and products or should it focus on existing markets and products. Retrieved from https://poetsandquants.com/2015/09/29/how-they-teach-the-case-method-at-harvard-business-school/. The method through which the analysis is done is mentioned, followed by the relevant tools used in finding the solution. A detailed implementation framework helps in distinguishing between an average and an above average case study answer. High product quality increases brand loyalty and improves Nykaa com A Passion for Beauty's, Workplace diversity can also act as a major business strength, particularly when the organisation intends, The horizontal and/or vertical integration can increase the control over whole value chain, result in. What's swot in strategic analysis? One is also required to provide how these recommendations would be implemented. This issue may be analysed for a manager or employee as well. Dogs are those strategic business units with low market share and low growth rate. Panagiotou, G. (2003). Operator of an e-commerce portal intended to sell cosmetics and beauty products online. If a resource is high on Value, Rareness, and Imitability, then it brings an unused competitive advantage. As of 2020, Myntra is one of the leading brands in the IT & Technology sector. The following step-by-step procedure can be used to organise the Harvard Business case solution and recommendations: The case study analysis and solution, and Nykaa com A Passion for Beauty case answers should be written down in the Nykaa com A Passion for Beauty case memo, clearly identifying which part shows what. European Journal of Forest Research, 126(3), 413-420. Buy Mens Grooming, Hair & Skin Care & Wellness Products Online in India from NykaaMan. Our writers are all set to help you with Essay Homework. Boston: Irwin McGrawHill. Strategies can be devised to improve the availability of the company’s products. Kim, W. C., & Mauborgne, R. (2004). Thank you for your email subscription. After reading this detailed Nykaa Case study, you’ll be clear about the business model of Nykaa, marketing strategy, swot analysis. Find, Reach, and Convert Your Audience. Lastly, differentiation or cost reduction strategies are to be used for each of these activities to increase the overall value provided by these activities. It implies that the value of the commission is also high. Strategic Management Theory: An Integrated Approach, Ninth Ed. Once various tools have been used to analyse the case, the findings of this analysis need to be incorporated into practical and actionable solutions. The PESTEL analysis discussed previously looked at the macro environmental factors affecting business, but not the microenvironmental factors. Retrieved from http://www.free-management-ebooks.com/dldebk-pdf/fme-pestle-analysis.pdf. Understanding Business Processes, 50-66. It’s time to team up with one of our experts. If you read nothing else on strategy, read thesebest-selling articles., 71. Here are some of the threats facing McDonald's. Our experts specialize in dissertation editing, so let us finalize your paper or have us write it for you. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. Principles of marketing. The funding will help to fund growth capital as well as expand the retail Pearson education. Team Up With Expert Writers To Complete Your Unfinished Essay. Factors within each of these 6 should be listed down, and analysis should be made as to how these affect the organisation under question. Further, we will be studying marketing strategies of matrimonial sites to know how these online platforms build a great place over … 1. This is also a strategic tool that is used to analyse the competitive environment of the industry in which Nykaa com A Passion for Beauty operates in. At times in a case analysis, the problem may be clearly evident in the reading of the HBR case. K, & Martin, D. (1998). Analyse the company’s products and devise strategies to improve the product offering of the company. SWOT Analysis and Solution of Nykaa.com: A Passion for Beauty References & Further Readings. Strong financial position and health can allow the firm to make further investments. This is known as market development strategy. uber mktg-2205 marketing of services winter 2018 gap analysis gap analysis executive summary summary of the gap analysis marketing of services - 7 p's recommendations based on gaps appendix approval requirements executive summary executive summary uber is an on-demand general swot (2015). Presently Nykaa has its stores in three formats namely Luxe, On Trend, and Kiosks. Nykaa is an Indian retail seller of beauty, wellness, and fashion products. Purplle is Nykaa's #1 competitor. (2013). Nykaa runs a YouTube channel “Nykaa TV” to provide the people best video guidance for using cosmetics and fashion products and remain up to date in the society and the channel has 100K subscribers. Porter, M.E. The solution consists of recommended strategies to overcome this central issue. Nykaa Affiliate Program (NAP) allows external content publishers to serve advertisements from the Nykaa universe that are targeted to publishers’ audience. Strengths of Nykaa com A Passion for Beauty is the first element of the SWOT matrix. IIBMS. This shows how through a step-by-step procedure as to how the central issue can be resolved. The timeline also helps in understanding the continuous challenges that are being faced by the organisation. Nykaa is an operator of an e-commerce portal designed to sell cosmetics and beauty products online. It can also be done by looking at anecdotal instances of managers or employees that are usually included in an HBR case study description to give the reader a real feel of the situation. A blue ocean strategy is a strategy that involves firms seeking uncontested market spaces, which makes the competition of the company irrelevant. So, recommendations and suggestions need to address the strategy of the marketing department in this case. If a resource is only valuable, then it’s a competitive parity. The placement in these categories depends on the relative market share of the organization and the market growth of these strategic business units. PESTEL / PEST / STEP Analysis & Solution. The Nykaa com A Passion for Beauty case study is a Harvard Business Review case study, which presents a simulated practical experience to the reader allowing them to learn about real life problems in the business world. with the help of an inventory-based model, the company has gained its name in the fashion & cosmetics industry and has a growing e-commerce reach even in the remote areas. This is doing the Nykaa com A Passion for Beauty Case Solution. Retrieved from https://www.hbs.edu/mba/blog/post/8-tips-to-help-you-prepare-for-the-case-method. The SWOT analysis is a strategic management tool that lists down in the form of a matrix, an organisation's internal strengths and weaknesses, and external opportunities and threats. Strategies will be devised which makes use of a few or all of these elements. The goals of the stakeholders and are the organization are also identified to ensure that the case study analysis are consistent with these. PESTLE Technique–a Tool to Identify External Risks in Construction Projects. Hill, C., & Jones, G. (2010). The third step is not compulsory but depends from case to case. The implementation framework also helps by removing out any recommendations that are not practical or actionable as these could not be implemented. Paul A. Gompers, Anjali Raina, Rachna Chawla (2018), "Nykaa.com: A Passion for Beauty Harvard Business Review Case Study. SWOT ANALYSIS Selling and buying of all kind of beauty products, skin care and wellness brand -Nykaa is the most wanted beauty brand. A corporate level strategy suggestions, changes or recommendations to the issues and events in the strategic analysis of com..., 1396-1411 firm in various ways, such as- to address the strategy of the company ’ s time team! Business model such as the Bharat matrimony enables the users to look for the existing market lead! 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