E Business Orgainazation in Bangladesh Bikroy com PDF

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very excelent for education  To evaluate the performance of investment banking instruments towards the growth development of capital market in Bangladesh
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A Report On "E-Business Organization in Bangladesh : Bikroy.com" Submitted to: Md. Shahidullah Kayser Assistant Professor Department of Finance Jagannath University

Submitted By: Name Almamun Shimul S. M. Moniruzzaman Saiduzzaman Sharmin Sultana Atish biswas

ID M20190203348 M20190203354 M20190203371 M20190203390 M20190203377

Course Name: Electronic Banking & E-commerce Course Code: FIN-6401 Batch: 19th Section: B Group No: 02 Department of Finance Jagannath University

Date of Submission: February 06, 2022

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Letter of Transmittal February 06, 2022 To, Md. Shahidullah Kayser Assistant Professor Department of Finance Jagannath University Subject. Submission of report on "Bikrey.com" Dear Sir, It is an immense pleasure for us to submit you the report titled "An E-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 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 Group 2

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ACKNOWLEDGEMENT First and foremost, praises and much obliged to God, the Almighty, for His showers of endowments all through us investigate work to total the inquiry about effectively. After that, we would like to express our special thanks of gratitude to our teacher Md. Shahidullah Kayser for providing invaluable guidance throughout this report. Thanks for giving us the golden opportunity to do this wonderful report on the topic titled "An EBusiness Organization in Bangladesh: Bikroy.com". Which also helped us in doing a lot of research and we came to know about so many new things that make us thankful to him. We cannot just express our feelings and gratitude for him the way we actually feel. He helped us in every possible way when we were in danger and taught us the real meaning of group work. It was a great privilege and honor for us to work and study under his guidance. Furthermore, we would also like to thank our parents and all the course mates who helped us a lot in finalizing this project within the limited time frame. We would like to extend our thanks to the Finance Department of Jagannath Universitty, library instructor and library secretary. Finally, our thanks go to all the people who have supported us to complete the report work directly or indirectly

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EXECUTIVE SUMMARY

Bikroy.com is one of the well-known web based business locales in Bangladesh. As an online business, Bikroy.com can draw the attention of a large number of clients. One the greatest advantage of Bikroy.com is individuals can purchase and offer effortlessly in Bikroy.com, on the grounds that a large portion of the arrangements are finished with individuals who live in a similar area. People can buy and sell items in more the 25 different categories. The primary goal of this report is to think about e-business activity of Bikroy.com, products and services, their business model, why they utilize online business, revenue model, their ebusiness infrastructures, digital strategy of e-business and about their e-business security. This report will help us to see how an e-business runs, how it is overseen, how it creates revenue for its organization. It will likewise help us to think about the IT security of Bikroy.com. We utilize SWOT analysis and Dynamic procedure Model to investigation their market strategies and their shortcoming and dangers alongside the opportunities. Finally, one might say that, Bikroy.com is one of the effective e-business case in Bangladesh. They have pulled in a large number of general people and ready to offer number of second hand items to potential purchasers.

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Topic

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Background of study Objectives of study Research methodology Limitations

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Chapter-01: Introduction

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1.1 Company Overview 1.2 Mission and Vision 1.3 Values 1.4 Range of Service and key Business Focus:

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Chapter-02: E-Business Revenue Model 2.1 E-Business Model

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2.2 Revenue model

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2.3 Online Marketplace Structure

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2.4 Revenue generating strategy 2.5 Marketplace structure

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Chapter-03: E-business Platform/Infrastructure

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3.1 Enterprise Resource Planning (ERP)

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3.2 Customer Relationship Management (CRM)

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3.3 Supply Chain Management (SCM)

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Chapter-04: Digital Strategy for e-Business 4.1 E-business Strategy

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4.2 Analyzing E-Business Strategy 4.3 Buy now service 4.4 How it works:

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Chapter-05: E-business Security

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Chapter-06: SWOT Analysis

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Chapter-07: Performance Chapter-08: Recommendation and Conclusion 8.1 Recommendation 8.2 Conclusion References:

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Background of Study All the students of Jgannath Univesity have to go through the report program. It is an immense pleasure for us to get the theoretical knowledge that we have gathered in our graduate life. Moreover, we have to submit a report on the specific organization assigned by our respective supervisor. The topic of our report is, „‟E-Business in Organization bikroy.com” Bikroy.com launched this service couple of months back as a new trend setter in the e-commerce industry of our country. Their main target was to tap an untapped service sector within this industry and to capture maximum value from it by creating more value for their customers than their competitors. As we had worked on the bikroy.com account during our report so we had knowledge about this service, how this service works, the goal of this service, functions of it etc. That‟s why we decided to work on this topic for our report.

Objectives of the study The broad objective of this report is to find out the overall effect of this service in this short tenure of it on the customers of this service. The short or specific objectives of this study is to find out,  Are the target customers aware of this service?  Has the service been able to create the values for its customers as planned?  Who are getting the major benefits from this service, the buyers or the sellers?  What are the strengths and weaknesses of this service?  Is there any setback of this service for the company?

Methodology We tried to find out how frequently the buyers or sellers of bikroy.com faces a particular type of problem, how many people hold a certain type of view about the Buy now service of bikroy.com and clearly descriptive research enables to find out these. In our report we used both qualitative and quantitative research methods. One of the main objectives of my report is to find out ''what is the service of bikroy.com and how it helps the customers of them. In my report I have taken multiple variables and for that descriptive research methodology was needed. Descriptive research is unique in the number of variables employed. Because descriptive research spans both quantitative and qualitative methodologies and to engage quantitative statistics to organize information in meaningful ways.

Limitations The major limitations of this report to me are:  We had no primary data to show on our report because of time constraints.  As the service is new in the market so these are still early days to come into a conclusion that these are the main causes of the success for the service.  The analysis that we made was the result of the study so it might not give an accurate picture of the study.

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Chapter-01 INTRODUCTION Bikroy.com is an online e-commerce business website. They begin their business on 2012 and they are notable for offering second hand products on the web. Subsequent to beginning their business in 2012 they are currently one of the renowned web based business site in Bangladesh. They offer various types of items. This site is accessible in both Bangle and English. General people are their target customers and they are able to attract various customers consistently every year for their good customer services. It is one of the simple online web pages to use for the clients. That is the reason it called simple to buy and simple to sell. Bikroy.com site positioned third for their ad in Bangladesh after Face book and Google.

1.1 > COMPANY OVERVIEW 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 both in Bangla and English. The site came into the local media spotlight following a formal press conference event held in Dhaka on 18 October 2012. In October 2012, Bikroy.com was formally launched in a press conference held in Dhaka, Bangladesh. The story was covered by several major newspapers in the country, including Prothom Alo, Kaler Kantho and The Daily Star. In November 2012, Bikroy.com was named as the "Country's first bilingual classified Website" by The Daily Star. In December 2012, Bikroy.com was voted by Prothom Alo and Asia News 24 as "the highest visited classified advertisement site” in Bangladesh The mother company of bikroy.com is Saltside technology. Saltside develops and operates Websites in emerging markets, with focus set on online classified sites. Currently Saltside operates the top classified site. These are:    

Bikroy.com in Bangladesh Tonaton.com in Ghana Efritin.com in Nigeria Ikman.lk in Sri Lanka

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1.2 > Mission and Vision Mission The mission of Bikroy.com is to develop a leading online marketplace for second hand products in Bangladesh. Bikroy.com started their journey in 2012 and has become the most popular online market place for second hand products.   

To add value to clients - real value. To develop a learning culture that fosters innovation. To contribute in the Welfare and economic prosperity of the people and the community.

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To develop a sustainable working environment that is good and fair to employees & clients. \

Vision The vision of Bikroy.com is to expand its services between its customers and its business partners. Recently Bikroy.com launched a deliveries system called “Buy Now”. They are working more on it to make their service easier and riskless for their customers as well as business partners.

1.3 > VALUES    

Building customer trust Leading the market Learn from your mistakes Copy from the best

1.4 > Range of Service and key Business Focus: Bikroy.com deals with their customers in a wide range. They have organized their services in many categories. The categories of the products are given below. 1. Electronic  Mobile Phone  TV  Camera  Other Electronics etc. 2. Cars and Vehicles.  Cares  Cycles  Bikes  Boats and Water vehicles etc. 3. Properties.  Apartment and Flat

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4.

5.

6.

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 Rooms  House  Commercial property etc. Education.  Services  Job Options Pets and Animals.  Pets  Farm Animals  Other Pets and Animals Leisure, Sports and Hobbies  Music Instrument  Sports equipment  Other Leisure, Sports and Hobbies Foods and Agricultures.  Other Foods and Agricultures  Crops and Plants  Fish  Meat etc. Personal Items Clothes,  Footwear and Accessories  Health and Beauty  Other Personal items  Handcraft Home Appliance  Furniture  White Goods and kitchen  Home and Garden

Also they provide a general space, where their customer‟s information is available. The key business focus of Bikroy.com is to meet the buyers and sellers in a place where they can exchange their products. People who want to exchange their second hand product use Bikroy.com.

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Chapter-02: E-Business & Revenue Model 2.1 > E-Business Model An e-business model is simply the approach a company takes to become a profitable business on the Internet. It is established on some core elements. They are.

Bikroy.com e-business model is also depending on these four elements. Among them, value proposition is the major portion of this model. Drivers of E-Business Adoption in Organization It refers to the drivers for which a company shifts its business to e-commerce. The reasons why Bikroy.com runs its business in virtual world are given below.  Lower of cost: The maintenance cost of e-business is cheaper the physical cost. That‟s why companies like Bikroy.com run their business in the internet.  Customer demand: By dint of the internet, the gap between sellers and buyers has been reduced to zero. Because Bikroy.com helps the market to forecast about customer demand of the products and the price of the product that consumers want.  Easy to handle: Businesses that have physical existence are more complex in term of maintaining the employees, keep records, handling the inventories than E-business.

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2.2 > E-Business Revenue Model Revenue model refers to the statement that how a company incomes or how a company generates its profit. Every company in the world has its revenue model. Like others, bikroy.com has one. Its following Mix-up based revenue model and Advertising based revenue model. From the e-business revenue model, we learned that when a company runs its operation activities by selling advertisement is called advertising based revenue model. And when a company serves some of its activities for free and some of the activities on a fee basis is called a mix-up revenue model. We see Bikroy.com uses these two types of revenue model in generating their business. Their main revenue model is advertising based revenue model. The mostly earn their revenue from Banner ads. They also generate some profit by their fee based account service.

2.3 > Online Marketplace Structure Market Segment We learned about three kinds of market segments that a company targets. The market segments are given below: a. Geographic segmentation, b. Demographic segmentation & c. Psychographic segmentation. Bikroy.com mainly targets demographic segmentation. Because, demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. As Bikroy.com operates their business in all over the Bangladesh, they want to target the people according to age, religion, income etc.

2.4 > Revenue generating strategy Revenue generating strategies simply means the strategies a company follows to generate revenue or supporting its business activities. Bikroy.com follows several strategies to generate revenues.  Selling advertisement: Bikroy.com generates its revenues by selling banner ads. Advertisers choose these kind of companies because they know different types of people gather these sites for buying and selling their used products. Therefore, the advertisers select these sites to promote their products.  Commissions from B2B: We know Bikroy.com is C2C business. However, it earns some revenues in the name of commission from B2B businesses.  Membership fees: Bikroy.com also earns some revenues from their membership fees.

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2.5 > Marketplace structure Market place structure means where buyers and sellers interact with each other and how like intermediary based, auction, location of trade etc. Bikroy.com is an e-business site of Bangladesh. It has no physical location. However, it provides a platform where sellers can easily post their old, new, or used products for sale and buyers can come to choose their best deals.

Chapter-03: E-business Platform/Infrastructure 3.1 > Enterprise Resource Planning (ERP) A management process by which a company manages and integrates the important parts of its business. An ERP Management Information System integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources. Bikroy.com has enterprise application system by which they integrate the major parts of their business like accounting, financing, marketing, sales etc.

3.2 > Customer Relationship Management (CRM) Customer relationship management (CRM) is a management term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving customer service relationships. There are different types of CRM system like sales force management, prospect relationship management, marketing automation, appointment CRM etc. Bikroy.com uses marketing automation CRM. They bring different sales prospects into the system and the system sends marketing messages to the customers automatically through email or social media.

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3.3>Supply Chain Management (SCM) Supply chain management is the active management of supply chain activities to maximize customer value and achieve sustainable competitive advantage. Like other sites, Bikroy.com can estimate its customer demand. They communicate regularly with their suppliers for replacing inventory with information. In every week they update their quarterly demand forecasts so that suppliers can better understand about the time of their supplies. Data Mining Data mining is the process of analyzing large databases to generate new information. Goals of data mining in e –business is to understand customer's behavior and to optimize site structure, enhance sales, improve customer relations, provide personalized services. There are different types of data mining. Bikroy.com use classification analysis and outlier detection process to determine the different customer online behavior information. Based on this, they can reorganize their market segments and marketing strategies.

Chapter-04: Digital Strategy for e-Business 4.1 > E-business Strategy An e- business strategy is essential for any organization who conducting business over the Internet. It defines both long term and short term e-business goals and involves careful and skilled planning. Bikroy.com is doing well with their e-business strategy. Their e-business strategies are:  They choose second product for their e-commerce site. As most of the people want better product and low cost. They sell used product in low cost. As a result they are able to attract target customers.  They promote their site by suing various Medias like Facebook, YouTube, Billboard, TV etc. and Promotions are able to attract people and raise their customers.  They transaction process is direct , this process is beneficial and secure for their customers and it‟s an great advantage of their strategy  They maintain their webpage well and made it very easy for customers. Customers just need to enter in the website and open an account by using Facebook or Email. Strategy help them increase their customers

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 For revenue they follow various methods, for example: selling banner ads, which is able to generate t...