Business

The State Bank of India (SBI) was established in 1806, making it one of the country’s oldest banks. The bank’s mission is to provide India’s citizens with innovative and responsive financial solutions that are simple and efficient. With its operations spanning over a millennium, SBI has evolved and branched out in terms of the services that it offers its customers. While it still has several traditional financial instruments, the bank also offers its customers products like insurance and mutual fund investment opportunities. The current account is one of the many products that SBI offers its customers. A current account is a type of bank account that is most commonly used by businessmen, retail merchants, and other individuals who require liquidity. The nature of their profession requires carrying out a large number of financial transactions each day and usually involves large sums of money being deposited and withdrawn. Unlike a savings account, a current account has higher limits with reference to the number of transactions permitted in a day. Keeping in mind all of these factors, SBI has developed the SBI Current Account. State Bank of India (SBI) is India’s largest state-owned public sector banking company. This bank has played a vital role in establishing the regulated banking sector in India as it offers a vast network of current account banking products and services to individuals as well as businesses. A current account is a type of demand deposit account which provides unlimited transactions depending upon the balance maintained in the account. A current account can be opened by entrepreneurs and professionals who deal with large transactions on a regular basis. Features and Benefits – SBI Bank Current Account SBI current account offers a premium internet banking facility with complimentary personal accident insurance. Initially, a low minimum average balance can be maintained. It also offers an overdraft facility based on one’s credit history. ATM transactions are free for the initial year and annually chargeable for subsequent years. Interest for deposit amounts doesn’t hold any interest. Based on credit history, overdraft facility is available too. Current accounts do not provide any interest on the balance lying in current accounts with the bank. The account can be transferred to any other branch, and monthly statements can be obtained for the same. Multi-city cheque books are given with account opening, and nomination facility is also accessible. SBI Bank Current Account Products State Bank of India (SBI) offers various types of current account products based on the profile of entrepreneurs that can serve the requirements of different businesses. Entrepreneurs or business entities can select the product from the below list that suits their business requirements. The below list are the SBI current account variants. Normal Current Account Power Gain Current Account Power Pack Current Account Power PoS Current Account Surbhi Current Account Power Jyoti Current Account Power Jyoti Pul Current Account S.No. SBI Current Account SBI Current Account Minimum Monthly Average Balance (MAB) Non – Maintenance Charges Cash Deposit Requirement Cash Withdrawal Home Branch Non-Home Branch 1. Regular Current Account Rs. 10,000 per month Non-Rural – Rs. 5,000 Rural – Rs. 2,500 Free Cash Deposit up to Rs 25000/- per day of maintained MAB.   Unlimited (Free) Free Up to Rs. 50,000. 2. Power Gain Current Account   Rs. 2,00,000/- Rs. 500/- +GST Per Month Free Cash Deposit up to Rs 15,00,000/- per month of maintained MAB Unlimited (Free) Rs 1,00,000/- per day 3. Power Pack Current Account Rs. 5,00,000 per month Rs. 2500/- +GST Per Month Free Cash Deposit up to Rs 60,00,000/- per month of maintained MAB Unlimited (Free) Up to Rs. 50,000 Free. 4. Power PoS Current Account   Rs. 5,000 per month Rs. 500/- +GST Per Month Free Cash Deposit Up to Rs 25000/- per day of maintained MAB Unlimited (Free) Free Up to Rs. 50,000. 5. Surbhi Current Account   Rs. 10,000 /- per month Rs  500/- +GST Per Month Free Cash Deposit Up to Rs 25000/- per day of maintained MAB   Free Up to Rs. 50,000. 6. Power Jyoti Current Account   Rs. 50,000/- per month Rs. 1000/- + GST Rs. 60/-  + GST per transaction. Rs. 60/-  + GST per transaction. Rs. 60/-  + GST per transaction. 7. Power Jyoti Pul Current Account   Rs. 50,000/- per month Rs. 1000/- + GST Rs. 60/- + GST per transaction. Rs. 60/- + GST per transaction. Rs. 60/- + GST per transaction. Normal Current Account- This current account fits entrepreneurs or traders who deal with the small businesses can open this current account in SBI along with basic facilities at a nominal cost. A number of multi-city cheque leaves – first 50 Multi-city cheque leaves free in a financial year. Debit card charges – Free ATM/ Debit card for the first year. A number of total NEFT transactions (via Net Banking/ Mobile banking) – Transaction Amount up to Rs. 10,000 will cost Rs. 1/-. Number of total NEFT transactions (At Branch) – Transaction Amount up to Rs. 10,000 will cost Rs. 2.50/- + GST. RTGS transactions (via Net Banking/Mobile banking) – From Rs. 2 Lacs to Rs. 5 Lacs: Rs 5/- including GST. RTGS transactions (At Branch) – From Rs. 2 Lacs to Rs. 5 Lacs: Rs. 25 including GST. Demand Draft charges – Up to Rs. 5000: Rs. 25/- includes GST. Power Gain Current Account-This current account fits the Premium Businessmen, Professionals, Traders etc. i.e; those who look to expand and diversify their operations and handle bulk cash transactions. A number of multi-city cheque leaves – 200 Multi-city cheque leaves free per month. Business Debit card charges – Free Pride Business debit cards for the first year. The number of total NEFT transactions (via Net Banking/Mobile banking) – Transaction Amount up to Rs. 10,000 will cost Rs. 1/-. Number of total NEFT transactions (At Branch) – Transaction Amount up to Rs. 10,000 will cost Rs. 2.50/- + GST. RTGS transactions (via Net Banking/Mobile banking) – From Rs. 2 Lacs to Rs. 5 Lacs: Rs 5/- including GST. RTGS transactions (At Branch) – From Rs. 2 Lacs

Quick commerce is the next step in the evolution of eCommerce and as the name suggests it’s all about speed. Quick commerce generally means consumers can expect delivery within one hour of placing an order.This may seem like a very short timeline but quick commerce is usually reserved for small orders rather than the weekly grocery shop. Consumers might purchase a product they unexpectedly ran out of or an ingredient they need for making today’s dinner.To get orders out as soon as possible retailers rely on online ordering systems local warehouses and delivery team on two wheels.When you think about it quick commerce is nothing new. It has been used in the takeaway food industry for many years. With eCommerce brands consistently cutting delivery times it was just a matter of time before consumers could get other products delivered to their doorstep without delay. What is Q-Commerce? Q-commerce vs. e-commerce-‘E-commerce’ refers to the online purchase, or sale, of a good or service.  Alongside the democratization of the internet, came the marvel of online shopping. Customers could order a product digitally, be that an electronic gadget or apparel, and receive it in the next 3-5 days – a bracket of time considered to be acceptably quick.  Q-Commerce meaning-Q-commerce (‘quick commerce’) – sometimes used interchangeably with ‘on-demand delivery’ and ‘e-grocery’ – is e-commerce in a new, faster form. It combines the merits of traditional e-commerce with innovations in last-mile delivery.The premise is largely the same, with speed of delivery being the main differentiator. Delivery is not in days but minutes – 30 or less, to be competitive.This has in turn expanded the breadth of what individuals can order, with perishable goods – like groceries – being a large niche q-commerce companies speak to. It tends to focus on the micro – smaller quantities of fewer goods. For example, a missing ingredient urgently needed for a recipe that’s already in motion. “Consumers now want and expect more items than ever to be delivered to their doorstep…It is no longer a case of waiting 24-48 hours for a delivery. Rather, the expectation for this is now a matter of minutes.” The bigger, less visible, difference happens on the backend – in the way that q-commerce operate behind the scenes. Not all have the same business model, but many use ‘dark stores’ – strategically located warehouses – to ensure a quick turnaround from order to doorstep. These can be anywhere between 3229 and 7500 sq ft (300-700sqm) in size and tend to stock upwards of 1,000 unique products. Many also crowdsource labor, equipping them with a fleet of individuals ready to spring into action at any moment. The combination of these factors, plus others (including adoption of the latest softwares, and the layout of dark stores themselves) provides them with the ultimate agility and flexibility required to adeptly respond to customer demand, round the clock. The benefits of quick commerce 1. A competitive USP- Q-commerce provides businesses with a new value proposition which can really set them apart from competitors. Customers in need of immediate delivery may be willing to try new products and order from new stores.The added convenience that comes with quick commerce offers online retailers a way to compete with large multinational marketplaces like Amazon as well as brick-and-mortar stores. 2. The potential for greater margins- Quick commerce holds a lot of potential profit for those who take advantage of it.One study from Deloitte suggests that during the pandemic 50% of shoppers spent extra money to conveniently get what they needed. They paid extra for on-demand fulfillment as well as buy online pickup instore (BOPIS) options.Because q-commerce is associated with a smaller selection of products retailers can also use this opportunity to drive sales for their most profitable lines. It’s also worth noting that convenience often appeals to wealthier demographics. For example time-strapped professionals and business leaders who tend to value convenience more than discounts. 3. Providing the ultimate customer experience- As consumer expectations grow quick commerce can help online retailers meet and exceed them. This in turn will foster brand loyalty. The customer pain points that quick commerce addresses are often meaningful. It can save a party host who has run out of food. It can help an uncle who has forgotten to buy his niece a birthday present. Or it can simply help someone who can’t make it to the shop to stock up on essentials.There are many situations where the convenience of q-commerce can reduce stress and maybe even avert disaster. How could customers be anything but satisfied? How to implement quick commerce 1. Set up local hubs- If you want to pick pack and deliver products in less than an hour you need to be located pretty close to your customers. For this reason quick commerce relies on local warehouses which can serve people in the immediate proximity.Most quick commerce delivery services are based in cities and employ their own community of riders to deliver products. The duration of two-wheeled deliveries are less likely to be impacted by heavy traffic. They don’t have to find parking spaces either.Alternatively businesses can enlist the help of local partners or third-party services. For example Deliveroo and Uber Eats have both made their services available to supermarkets.In China Alibaba has taken a unique approach by opening hundreds of brick-and-mortar ‘Fema’ stores. These act as quick commerce hubs that deliver in under 30 minutes. But they also offer other omnichannel services such as collection points and in-store scanning which can be combined with online payment. 2. Carefully choose your q-commerce stock- Right now quick commerce works best for some specific product niches. On-Demand delivery makes sense for food drinks cosmetics and other CPG products that consumers use every day.Gifts and medicine are also ideal for quick commerce delivery. And with the rise of working from home office supplies and electronics are also excellent candidates.Businesses specialising in q-commerce tend to fill their local warehouses with their most commonly purchased products – particularly those popular among Gen Z and millennial customers as they’re most likely to

Performance marketing is a digital marketing strategy that’s driven by results. It’s ideal for companies that are looking to reach their audience at scale, because payment is based on how users interact with the content.Performance marketing refers to a form of digital marketing in which brands only pay marketing service providers after their business objectives have been met or when specific actions have been taken, such as a click, sale, or lead. In other words, it is performance-based marketing.Performance marketing works when advertisers connect with either agencies or publishers to design and place advertisements for their company on any number of performance marketing channels — social media, search engines, videos, embedded web content, and more. Instead of paying for an advertisement in the traditional way, these advertisers pay based on how well their ad performs, by measuring number of clicks, impressions, shares, or sales.  What is performance marketing? Performance marketing is a results-driven approach to digital marketing, where advertisers pay only when specific actions or outcomes are achieved. These actions can include clicks, leads, sales, or other desired customer behaviors. Performance marketing relies on various channels, such as affiliate marketing, pay-per-click (PPC) advertising, social media advertising, and search engine marketing (SEM). The term performance marketing was coined shortly after the advent of pay-per-click (PPC) advertising, starting with banner (display) ads and Google AdWords (now Google Search Ads). How Does Performance Marketing Work? Performance marketing is among the popular promotional marketing strategies that have gained immense popularity in the digital world. It is a method of advertising that pays affiliates or publishers for the conversions they generate through various channels, such as SEO marketing. This sounds interesting for businesses, but here is how it works:  1. Identification of Target Audience: The very first thing is to select the target audience of the business. This is critical as it helps to understand how businesses can reach your potential customers. Once you have identified your target audience, you need to create a compelling offer that will entice them to take the desired action. 2. Personalized Campaigns: It’s important to note that performance marketing is not a one-size-fits-all approach. You need to tailor your campaigns to suit your specific business needs. This means that you need to create multiple campaigns, each with a different objective, target audience, and offer. 3. Collaboration: The next step is to find affiliates or publishers who are willing to promote your offer. These affiliates or publishers could be bloggers, influencers, email marketers, or any other person who has a substantial following in your target audience. The key to finding the right affiliates is to identify those who have a genuine interest in your offer and are willing to promote it to their audience. 4. Effective Strategy: Once you have identified your affiliates, you need to provide them with all the necessary tools to promote your offer. This includes creatives, landing pages, tracking links, and any other material they may need to promote your offer effectively. 5. Track and Optimize: The final step is to track your campaign’s performance and optimize it accordingly. This involves analyzing your data, identifying what works and what doesn’t, and making the necessary changes to improve your campaign’s performance. It’s essential to conduct regular A/B testing to determine which elements of your campaign are performing well and which ones need improvement. Implementing a well-crafted marketing strategy, such as B2B marketing strategy, is crucial for driving performance and maximizing results in performance marketing campaigns.  4 main types of performance marketing Social media advertising-Social media advertising includes running ads on Facebook, Instagram, Twitter, LinkedIn, and more. Typically, these campaigns are set up with a funnel structure: at least one campaign to reach new people (called prospecting) and at least one to reach people who have visited their site but not yet converted (retargeting). Not all social media advertising is performance marketing—when not used to drive conversions, it can also be used for brand marketing or market validation. Search engine marketing (SEM)- Search engine marketing refers to running advertising campaigns to drive traffic from search engines such as Google or Bing. These campaigns are usually structured based on the types of searches they target. For example, a business might have campaigns for the type of product they sell, competitor brands, and their own brand.Search engine marketing is almost always performance marketing by nature. It is also entirely separate from SEO. Influencer marketing-Historically, people haven’t always considered influencer marketing to be “performance” marketing. But in recent years, that’s changed. Influencers have gotten more business savvy, and the growth in both influencer management tools like Gatsby and influencer partnership platforms has allowed brands to properly track and iterate on their influencer partnerships, making it truly performance driven. Native advertising/sponsored content- Similar to influencer marketing, but instead of paying an influencer to speak about your brand, you pay a publication to write about it. As the marketer, you get a high degree of creative control over what they publish for you. Some publications call it native advertising, others sponsored content, but the strategy is the same. Note that in most countries, publications have a regulatory requirement to disclose that the content is sponsored. Performance marketing examples Pay-per-click (PPC) advertising: This is a form of performance marketing where advertisers pay a fee each time their ad is clicked. Email marketing: This is a performance-based marketing tactic in which advertisers send emails to their target audience with the goal of driving sales or leads. Social media marketing: This is a performance marketing strategy that uses social media platforms to reach potential customers and deliver marketing messages. Search engine marketing (SEM): This is a performance marketing strategy involves running advertising campaigns to drive traffic to websites from search engines. How to measure performance marketing Performance marketing is about chasing the best results. Since we’re spending money, it’s all about your cost-pers. There are four key cost-per metrics that matter for your performance marketing campaigns: Cost per thousand impressions (CPM)- Cost per thousand impressions refers to the cost for an advertiser to generate 1,000 views of their ad. The acronym CPM’s origin is cost per mille, with “mille” being the French word for thousand. Advertisers

The SBI Mutual Fund Trustee Company Private Limited was established as a Trust under the provisions of the Indian Trust Act 1882 and is registered with the Securities and Exchange Board of India (SEBI). It works in collaboration with the State Bank of India and Amundi, a European asset management company, which is a subsidiary that is founded by Crédit Agricole and Société Générale. The headquarters of India’s largest banking mutual fund is located in Mumbai. It is also known as the first bank-sponsored fund that has launched an offshore fund, namely the Resurgent India Opportunity Fund. Objective and Functioning The objective of SBI Mutual Funds is to bring excellence from the beginning of the product development till the time investors deposit money. It designed to outshine the industry benchmarks using well-researched investment in varied Indian equities. Active management style has been adopted based on fundamental analysis, after which a portfolio would be constructed. As a stepping stone for the growth potential of Indian equities, SBI mutual funds have blended, large-cap, mid-cap, or distinct sector oriented features. Required Documents The following documents must be produced by individuals to invest in SBI mutual funds: Identity Proofs Copy of PAN Card Passport Aadhaar Card Voter ID Driving License Central government approved documents like NREGA job card Residential Proofs For residential proofs, an individual can use the above-mentioned identity proofs except for PAN. Other documents include: The rental/ lease agreement Utility Bills Ration Card If an individual’s permanent address and correspondence address is not the same, the proof for both these addresses has to be submitted. Types of Mutual Funds SBI Equity Funds SBI Exchange Traded Funds SBI Hybrid Funds SBI Liquid Funds SBI Debt Funds SBI Tax Savings Funds SBI Equity Funds- SBI equity funds provide long-term capital appreciation using investment equity stocks/ shares of top rated companies. SBI equity funds are well-known for their consistent performance and for offering high returns. Meanwhile, these funds are also considered to be high-risk funds. The funds that come under SBI Equity Funds are: SBI Arbitrage Opportunities Fund-Direct Plan – Dividend SBI Banking & Financial Services Fund-Direct Plan – Dividend SBI Blue Chip Fund-Regular Plan – Growth SBI Contra Fund SBI Emerging Businesses Fund SBI Long Term Advantage Fund – Series III – Regular Plan – Growth SBI Magnum Fund SBI Nifty Index Fund-Regular Plan – Dividend SBI One India Fund – Dividend SBI PSU Fund-Regular Plan – Growth SBI Pharma Fund-Direct Plan – Dividend SBI Small & Midcap Fund-Direct Plan – Dividend SBI Tax Advantage Fund- Series III – Regular Plan – Growth SBI Exchange Traded Funds- Exchange Traded Funds (ETF) are offered by SBI mutual funds in a collaboration of both the open and close-ended mutual funds scheme and is traded on the recognized stock markets. These funds provide a lot of liquidity and lower service charges. The funds that come under SBI Exchange Traded Funds are: SBI – ETF 10 Year Gilt SBI – ETF BSE 100 SBI – ETF GOLD SBI – ETF Nifty SBI – ETF Sensex Fund of Fund SBI Gold Fund SBI Hybrid Funds- SBI Hybrid Funds invests in a variety of asset classes. The blend of equity and debt and various proportion that the fund offers provide the investor with multiple variants of hybrid funds from which the investor can opt from. The most popular form of SBI Hybrid Funds are: SBI Capital Protection Oriented Fund SBI Dual Advantage Fund SBI Liquid Funds- SBI Liquid Funds are of a low-risk category with moderate returns and best suited for investors with a short-term Investment horizon. Some of the liquid funds that are offered by SBI mutual funds include: SBI Magnum Insta Cash Fund-Direct Plan- Daily Dividend SBI Magnum Insta Cash Fund-Direct Plan -Growth SBI Magnum Insta Cash Fund-Direct Plan -Weekly Dividend SBI Magnum Insta Cash Fund-Regular Plan – Cash SBI Magnum Insta Cash Fund-Regular Plan – Daily Dividend SBI Debt Funds- Debt funds by SBI mutual funds is usually a safer investment option. Nevertheless, with a lower return potential than other types of SBI mutual funds. The debt funds by SBI invests in several short-term fixed income securities including treasury bills, government bonds, commercial paper and certificate of deposit. SBI Tax Savings Funds- The Tax Savings Funds offered by SBI mutual funds seeks to encourage the habit of saving by making an investment in equity shares that provide tax deductions under Section 80C of Income Tax Act. These are diversified equity mutual funds that have a lock-in period of three years. Offshore Funds- SBI Funds Management has been authorised as India’s dedicated offshore funds since 1988. The fund targets to provide investors with opportunities for long-term growth in capital using well-researched investments in a diversified bouquet of stocks of Indian Companies. SBI Funds Management was the first bank that sponsored asset management company fund to launch an offshore fund called ‘SBI Resurgent India Opportunities Fund’. FAQs What are the different types of funds offered by SBI Mutual Fund? SBI Mutual Fund offers a range of funds across categories, including equity funds, debt funds, hybrid funds, and more. Each category caters to different risk profiles and investment objectives. What are the charges associated with SBI Mutual Fund investments? Mutual funds typically have expenses such as expense ratio and exit load. It’s important to understand these charges before investing. The expense ratio covers the fund’s operational costs, and the exit load is a fee charged when you redeem your investment within a specified period. Can I redeem my SBI Mutual Fund investment anytime? Yes, you can redeem your mutual fund investment at any time. However, some funds may have exit loads if you redeem before a specific duration. It’s crucial to check the terms and conditions of the specific fund. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company

A business model is an outline for how your company plans to make money. In general, a business model explains four things: What product or service a company will sell. How it intends to market that product or service. What kind of expenses the company will face. How the company expects to turn a profit. What Is a Business Model? The term business model refers to a company’s plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Established businesses should regularly update their business model or they’ll fail to anticipate trends and challenges ahead. Business models also help investors evaluate companies that interest them and employees understand the future of a company they may aspire to join. Understanding Business Models A business model is a high-level plan for profitably operating a business in a specific marketplace. A primary component of the business model is the value proposition. This is a description of the goods or services that a company offers and why they are desirable to customers or clients, ideally stated in a way that differentiates the product or service from its competitors. A new enterprise’s business model should also cover projected startup costs and financing sources, the target customer base for the business, marketing strategy, a review of the competition, and projections of revenues and expenses. The plan may also define opportunities in which the business can partner with other established companies. For example, the business model for an advertising business may identify benefits from an arrangement for referrals to and from a printing company. Successful businesses have business models that allow them to fulfill client needs at a competitive price and a sustainable cost. Over time, many businesses revise their business models from time to time to reflect changing business environments and market demands.When evaluating a company as a possible investment, the investor should find out exactly how it makes its money. This means looking through the company’s business model. Admittedly, the business model may not tell you everything about a company’s prospects. But the investor who understands the business model can make better sense of the financial data. Evaluating Successful Business Models A common mistake many companies make when they create their business models is to underestimate the costs of funding the business until it becomes profitable. Counting costs to the introduction of a product is not enough. A company has to keep the business running until its revenues exceed its expenses.One way analysts and investors evaluate the success of a business model is by looking at the company’s gross profit. Gross profit is a company’s total revenue minus the cost of goods sold (COGS). Comparing a company’s gross profit to that of its main competitor or its industry sheds light on the efficiency and effectiveness of its business model. Gross profit alone can be misleading, however. Analysts also want to see cash flow or net income. That is gross profit minus operating expenses and is an indication of just how much real profit the business is generating.The two primary levers of a company’s business model are pricing and costs. A company can raise prices, and it can find inventory at reduced costs. Both actions increase gross profit. Many analysts consider gross profit to be more important in evaluating a business plan. A good gross profit suggests a sound business plan. If expenses are out of control, the management team could be at fault, and the problems are correctable. As this suggests, many analysts believe that companies that run on the best business models can run themselves. Types of Business Models Retailer- One of the more common business models most people interact with regularly is the retailer model. A retailer is the last entity along a supply chain. They often buy finished goods from manufacturers or distributors and interface directly with customers. Example: Costco Wholesale Manufacturer- A manufacturer is responsible for sourcing raw materials and producing finished products by leveraging internal labor, machinery, and equipment. A manufacturer may make custom goods or highly replicated, mass produced products. A manufacturer can also sell goods to distributors, retailers, or directly to customers.Example: Ford Motor Company Fee-for-Service- Instead of selling products, fee-for-service business models are centered around labor and providing services. A fee-for-service business model may charge by an hourly rate or a fixed cost for a specific agreement. Fee-for-service companies are often specialized, offering insight that may not be common knowledge or may require specific training.Example: DLA Piper LLP Subscription- Subscription-based business models strive to attract clients in the hopes of luring them into long-time, loyal patrons. This is done by offering a product that requires ongoing payment, usually in return for a fixed duration of benefit. Though largely offered by digital companies for access to software, subscription business models are also popular for physical goods such as monthly reoccurring agriculture/produce subscription box deliveries. Example: Spotify Freemium –Freemium business models attract customers by introducing them to basic, limited-scope products. Then, with the client using their service, the company attempts to convert them to a more premium, advance product that requires payment. Although a customer may theoretically stay on freemium forever, a company tries to show the benefit of what becoming an upgraded member can hold.Example: LinkedIn/LinkedIn PremiumSome companies can reside within multiple business model types at the same time for the same product. For example, Spotify (a subscription-based model) also offers free version and a premium version. Bundling- If a company is concerned about the cost of attracting a single customer, it may attempt to bundle products to sell multiple goods to a single client. Bundling capitalizes on existing customers by attempting to sell them different products. This can be incentivized by offering pricing discounts for buying multiple products.Example: AT&T Marketplace– Marketplaces are somewhat straight-forward: in exchange for hosting a platform for business to be conducted, the marketplace receives compensation. Although transactions could occur without a marketplace, this business model attempts to make transacting easier, safer, and faster.Example: eBay Affiliate- Affiliate business models are based

Within the retail sector “hero items” or “destination items” are the standout products that attract customers to specific stores and drive additional sales, whether those are discretionary purchases or the weekly supermarket shop. The challenge for retailers is how to effectively measure performance to successfully identify these items, and what marketing strategy and tactics they should then apply to attract more customers and drive sales. What is a Hero Product? The hero product of the brand is usually its best seller, and one that takes pride of place in displays and presentations. If you could only sell one product from your brand, this is it. Or perhaps your brand only has one product. Don’t Have a Hero Product? Don’t Worry There are two options at this point: either you don’t know which of your many great products you should position as your hero, or else you have yet to create your hero product. If you are in the first camp, ask around, get people to try all your products, and figure out which is the best contender. Make sure it fully aligns with your brand and represents you well, and then commit to its new position as hero! If you are ready to create your new hero products, here’s a quick guide to designing a new product, without getting too specific for each type of cosmetic. Start by clearly defining your brand message and values. If you are all about organic, make sure your hero product is organic too. Write down the key points to uphold the brand promise. What problem do you want this product to fix? Be clear about the pain point you or your customers face that requires the help of this product. For example, targeting fine lines and plumping skin may be a better and more specific goal rather than simply “anti-aging”. Don’t get carried away trying to fix too many things with this product, unless what makes it a hero is that it’s a one-stop shop. Make sure that every part of your product is worthy of being the hero. This includes design and packaging, the name (choose one that can expand—see point 5), the price point, the ingredients, its retail location(s), etc. This can take time, but it’s important to get it right. Be strategic in making it the star. Give it top billing, and be aware that if you execute its rise to fame correctly, the hero product may turn into the leading product of your hero line. If the original product is good enough, then you should consider creating products embodying the same ideals that flesh out a whole routine or similar. Market the Hero Product Marketing your hero means having a beautiful product, with appropriate packaging, that can do most of the talking for you. Your goal is to get your hero everywhere, in front of everyone who might use it. Having just one product to promote is often easier than promoting a whole brand. Some concrete steps to increase awareness include: Request reviews from happy customers and publicize responses Send to social media influencers to get honest reviews and create peer trust amongst their followers (social proof) – Conduct trials or studies if relevant to back up any claims (but be careful with FDA regulations) Create samples and provide to any willing participant, requesting feedback or a mention on social media Invite customers and friends to build a focus group. This can give you important outside information and opinions if you feel too close to the project. How to Identify Your Next Hero Product You’ve had success with your Hero Product, but now it’s time to expand your product line and improve your profit margin. With the success of your Hero Product, you’ve been able to build your company and your team, but you might be starting to get concerned that you are hitting a ceiling for that product’s market size. It’s getting harder to sell your Hero Product, and your Return on Ad Spend (ROAS) to drive new customers to your brand isn’t yielding the same returns that it used to. You know that there is still plenty of headroom for your company to grow into, but you aren’t sure that it is going to come from your existing product line. At this point, customers are happy with their current products, and they have submitted plenty of feedback and feature requests. While you believe that your Hero Product will continue to drive your business forward, you also realize that it is time to start adding other hit products to your catalog. So, the real questions you are asking yourself are:  What product do I make next? Will my customers love it as much as they loved my first Hero Product?  If you want to create another Hero Product, and many more after that, here’s what you’ll need to know: How to understand and analyze the data you already have How to use customer data to your advantage How to get customer input on new product development through effective surveys Getting More out of Your Data- Sales data on your current products will be one of the best ways to find out easy wins in new products. Off the cuff, you’re probably very familiar with how your products are selling, but have you taken a deep dive to really understand how each product is selling?   You may have other questions. Why are some products outselling others? Why do some older products continue to outsell new releases? Why do I keep having to discount some products just to get them out of our warehouse? Deeply analyzing your data with this sort of questioning will be necessary to help you paint a picture of what makes your Hero Product so popular and what makes your Slow Movers struggle in comparison. Focus on understanding what makes your Hero Product so successful and try to identify what were the misses with your Slow Movers. It can be tough to identify the exact causes, but customer reviews

NPS stands for Net Promoter Score which is a metric used in customer experience programs. NPS measures the loyalty of customers to a company. NPS scores are measured with a single-question survey and reported with a number from the range -100 to +100, a higher score is desirable. What is Net Promoter Score (NPS)? Net Promoter Score (NPS) is a metric that organizations use to measure customer loyalty toward their brand, product or service.  Many companies use NPS as part of their customer relationship management (CRM) strategy, as the metric is easy to form and calculate. A company just has to ask its customers one question: “On a scale of 0 to 10, how likely are you to recommend us to a friend or colleague?” NPS is measured as a score from -100 to 100. Higher scores are better, as the number informs an organization how well it’s perceived by its customers. NPS is a common metric used to determine customer perception and experience. Organizations use NPS scores to help find business areas that need improvement to create better customer loyalty. Organizations must ensure they keep NPS surveys from feeling coerced, however, and they shouldn’t be the only metric used when determining customer loyalty. How to calculate Net Promoter Score “How likely are you to recommend us to a friend or colleague?” are assigned a number on a scale from 0 to 10, with 10 being the most positive. Customers are then divided into the following three categories: promoters, passives and detractors. Promoters (score 9-10) are the most loyal customers and may refer others to the organization or service. Passives (score 7-8) are satisfied yet unenthusiastic and can be swayed by more competitive options. Detractors (score 0-6) are unhappy and can damage a brand with negative word of mouth. With social media, customers can easily share their thoughts on the organization’s products or services. The Net Promoter Score can be calculated by subtracting the percentage of detractors from the percentage of promoters. Another way to determine the same score is to use the following equation: (number of promoters – number of detractors) / (number of responses) x 100 So, for example, if there are 50 promoters and 30 detractors with 100 responses, the equation would be (50-30)/(100) x 100 = an NPS score of 20. Why is Net Promoter Score important? it was important for a company to know how many of its customers were assets and how many were liabilities. By correlating the customer’s subjective response to an objective number, the metric can be used to legitimately drive a company’s internal priorities.  NPS helps companies organize a methodology around improving their perception and reducing negative word of mouth or unhappy customers — which can lead to business growth. What can you measure with NPS? Organizations that offer a product or service — such as call centers, internet service providers, department stores or healthcare providers — can use Net Promoter Scores. The metric helps them do the following: determine customer retention and loyalty; determine customer perception; determine customer churn; and monitor organization, product or service improvements. How to interpret NPS Net Promoter Scores are expressed as a score from -100 to 100. A negative score occurs when a company has more detractors than promoters, and a positive score occurs when a company has the inverse. A good NPS is typically considered any score above a 0, since this means the organization has more promoters than passives or detractors. A bad NPS, likewise, is considered any score below 0. Knowing average Net Promoter Scores by industry can help organizations understand if an individual NPS is considered good in context. For example, if the typical score in a particular industry averages around a -10, an organization’s individual score of -3 wouldn’t be as bad by comparison. Likewise, an NPS score of 3 would be considered worse in context when compared to an industry where the average score is 30. How to create an NPS survey The most basic NPS survey would include just the question “On a scale from 0 to 10, how likely are you to recommend us to a friend or colleague?” However, surveys can be supplemented with additional questions that provide more insight into customer motivations. Additional survey questions typically include the following: Demographic questions about age or gender. Scores may vary across demographics, so asking these questions can give a company a better idea of customer loyalty across audience segments. A question asking the “Reason for your score.” This is normally an open-ended question asking the individual the reason behind why they gave that numerical score. Ask “How could we improve?” A question asking for permission to follow up with the customer as needed. FAQs How often should NPS be measured? The frequency of NPS measurement depends on the business and its dynamics. Many companies measure NPS quarterly or annually, while others may do it more frequently to capture real-time customer sentiment. Can NPS be used in any industry? Yes, NPS is versatile and can be used in virtually any industry to assess customer satisfaction and loyalty. It is widely adopted in sectors such as retail, technology, healthcare, and services. Are there any limitations to using NPS? NPS provides a snapshot of customer sentiment but may not capture the complete customer experience. Some argue that it oversimplifies complex relationships. Additionally, cultural and industry variations may impact the interpretation of scores. It’s crucial to supplement NPS with other metrics and qualitative data. 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Cohort analysis is a type of behavioral analytics in which you take a group of users, and analyze their usage patterns based on their shared traits to better track and understand their actions. A cohort is simply a group of people with shared characteristics. Cohort analysis allows you to ask more specific, targeted questions and make informed product decisions that will reduce churn and drastically increase revenue. You could also call it customer churn analysis. What is Cohort Analysis? Cohort Analysis is a form of behavioral analytics that takes data from a given subset, such as a SaaS business, game, or e-commerce platform, and groups it into related groups rather than looking at the data as one unit. The groupings are referred to as cohorts. They share similar characteristics such as time and size. Companies use cohort analysis to analyze customer behavior across the life cycle of each customer. In the absence of cohort analysis, businesses may experience difficulties in understanding the life cycle that each customer goes through over a given timeframe. Businesses use cohort analysis to understand the trends and patterns of customers over time and to tailor their offers of products and services to the identified cohorts. A business sees a lot of data coming in on a daily basis. Analyzing such large volumes of data is not only complex but also an expensive task that requires dedicated staff. However, a business can break customers down into more manageable and actionable cohorts. Types of Cohorts to Analyze Cohorts can be grouped into the following categories: 1. Time-Based Cohorts- Time-based cohorts are customers who signed up for a product or service during a particular time frame. Analyzing these cohorts shows the customers’ behavior depending on the time they started using a company’s products or services. The time may be monthly or quarterly, depending on the sales cycle of a company. For example, if 80% of customers who signed up with the company in the first quarter stick with the company in the fourth quarter but only 20% of customers who signed up in the second quarter stick with the company up to the fourth quarter, it shows the Q2 customers were not satisfied. The company could’ve overpromised during Q2 promotions, or a competitor may be targeting the same customers with better products or services. Analyzing the time-based cohorts helps in looking at the churn rate. For example, if customers who signed up for the company’s product in 2017 churn out faster than those who signed up in 2018, the company can use this data to find out the cause. It could be that the company is not keeping up with its promises, a competitor offers better quality products, or a competitor is directly targeting your customers with better incentives. For a SaaS business, the churn rate tends to be high at the start of a given timeframe, and drops as the customers get used to the products. Customers who stay longer with the company tend to love the product and churn at a lower rate than at the start of a time frame. In the absence of cohorts, a company may not identify the exact cause of a high number of customers abandoning the products within a given timeframe. 2. Segment-Based Cohorts- Segment-based cohorts are those customers who purchased a specific product or paid for a specific service in the past. It groups customers by the type of product or level of service they signed up for. Customers who signed up for basic level services might have different needs than those who signed up for advanced services. Understanding the needs of the various cohorts can help a company design tailor-made services or products for particular segments. A SaaS company may provide different levels of services depending on the purchasing power of the target audience. Analyzing each level helps in determining which kind of services fit particular segments of your customers. For example, if the advanced level customers churn at a much faster rate than basic level services, that is an indication that the advanced services are too expensive or that basic level services simply better meet the needs of most customers. Understanding what customers are looking for in a package helps the company in optimizing its notifications to focus on relevant push emails that customers will open and read. 3. Size-Based Cohorts- Size-based cohorts refer to the various sizes of customers who purchase a company’s products or services. The customers may be small and startup businesses, middle-sized businesses, and enterprise-level businesses. Comparing the different categories of customers based on their size reveals where the largest purchases come from. For categories with the least purchases, the company can review any issues with the product and service offering and brainstorm areas for improvement that can boost the level of sales. In a SaaS business model, small and startup businesses usually churn at a higher rate than enterprise-level companies. Small and startup businesses may have a small budget and be testing low-priced products to see what works for them. Enterprise-level businesses have a larger budget and tend to stick with a product for a longer period of time. benefits of cohort analysis Determine business health. A great indicator of a healthy business is increasing revenue even if you aren’t acquiring new customers.  that cohort analysis “can help you determine which cohorts/groups of customers are contributing the most to revenue.” This, in turn, allows you to focus on upselling other products or services to them. Understand customers better-Cohort analysis allows businesses to gain a deeper understanding of their customers by tracking their behavior over a period of time. This can help you identify patterns and trends that may not be immediately apparent from looking at vanity metrics. Enhanced customer segmentation- By dividing user groups and creating specific cohorts, businesses can create more targeted and effective marketing campaigns and offer personalized customer experiences. Increased customer retention.-cohort analysis helps by analyzing retention rates and identifying potential churn risks. With this information in hand, you can take proactive

Permanent Account Number abbreviated as PAN is a unique 10-digit alphanumeric number issued by the Income Tax Department to Indian taxpayers. The department records all tax-related transactions and information of an individual against his unique permanent account number. This allows the taxman to link all tax-related activities with the department. PAN primarily acts as a database for all individual transactions, such as the tax collected at source (TCS)/tax deducted at source (TDS) credits, income tax payments, return on gift/investments/wealth, etc. Simply put, the PAN enables the tax department to identify an individual’s tax-related transaction. What is a PAN? Permanent Account Number (PAN) is a unique identification number provided by the Income Tax Department. The Income Tax Act mentions that individuals falling under the following criteria are required to obtain PAN: If a particular person’s income crosses the basic exemption limit for a financial year. If the overall earnings or business exceeds the limit of five lakhs in the financial year. If the person is required to get import and export code or GST registration. If the person receives any amount after deducting withholding tax from the total earnings payable to another person. If any financial transactions which are undertaken require submission of PAN card mandatorily. PAN in India can be obtained voluntarily by any person, irrespective of citizenship, residency or age. Hence, foreigners, NRIs and minors are also allowed to obtain PAN. PAN Card The tax department issues an individual’s PAN on a physical card referred to as the PAN card. The PAN card includes information, such as the PAN number, photograph, name, and date of birth of the holder. PAN has a typical format of ABCTY1234D. The first three characters, i.e. ‘ABC’ in the above number is an alphabetic series ranging between AAA and ZZZ. The 4th character, i.e. ‘T’, represents the PAN holder’s status. The alphabet ‘T’ represents Trust, ‘F’ for Firm, ‘H’ for HUF, ‘P’ for Individual, ‘C’ for Company etc. The 5th character, i.e. ‘Y’, represents the first alphabet the PAN holder’s last name. The next four characters are sequential digits ranging between 0001 and 9999. The 10th character, i.e. ‘D’, is an alphabetic check digit that runs from A to Z. Transactions Requiring PAN PAN is required for filing an income tax return in India. In addition, according to the rules of Income Tax under 114B, 1962 submission of PAN is necessary for an individual if the taxpayer gets involved in the following financial activities: Involved in selling or purchasing activities of motor vehicles excluding two-wheelers, where the PAN document is mandatory during the registration process. Opening bank account including with cooperative banks. To apply for a credit card or debit card or loan. An opening of DEMAT account. To pay hotel or restaurant bill of more than Rs.50,000 in a single transaction. To purchase foreign currency of more than Rs.50,000 or travel outside the country. To purchase mutual funds worth Rs.50,000 or above.  Buying a company’s debentures or bond worth Rs.50,000 or more. Buying bonds worth Rs.50,000 or more from Reserve Bank of India (RBI). Depositing cash of Rs.50,000 or more in a bank or post office in a single day. Buying bank’s draft, any cheque which is worth Rs.50,000 or more through cash payment in a single day. One time deposit which exceeds Rs.50,000 or more in a single day or Rs.5,00,000 in a single financial year in banks and post offices. Paying a total amount of Rs.50,000 in a financial year for more than one prepaid payment instruments like smart cards, online wallet, mobile wallet etc. While paying insurance premium policies of Rs.50,000 or more during a financial year. While selling or purchasing various securities (except shares) worth of more than Rs.1 lakh in a single transaction. While selling or buying any immovable assets through stamp valuation authority for more than Rs.10 lakhs. Involving in buying or selling activities of any goods or services worth above Rs.2 lakhs in a single transaction. Buying or selling of a company’s share at a value of more than Rs.1 lakh in a single transaction, which does not belong to any recognised stock exchange.   Applying for PAN PAN applications can be submitted at PAN facilitation centres that are available in every Indian city/town operating under UTITSL (UTI Infrastructure Technology and Services) and NSDL (National Securities Depository Limited). In addition, a person can also register and get his PAN card through the online mode. To obtain PAN, PAN application form 49A provided by income tax department must be submitted online or at a PAN facilitation centre. PAN Application Form 49A PAN application must be submitted in Form 49A.  How to Fill Form 49A Follow the steps mentioned below to complete and submit the Permanent Account Number application form 49A: The individual who is supposed to use the PAN card must give their last/surname with First and Middle name in the respective order, the name will be printed as it is given in the form 49A. If the person is an Aadhaar cardholder then the Aadhar must be mentioned mandatorily by the user. The person has to mention their source of income, if the person has no source of income then it has to be mentioned in the separate column. The details of the applicant representative must be given according to the Section 160, of Income Tax Act 1961, according to this act if the applicant is a minor or mentally challenged person, then the details of the representative who takes care of minor needs to be filled in the form. Also, the proof of identity and address of the representative must be submitted with Form 49A. The application must be signed and verified by the applicant or representative. Once the application form is submitted, a unique number will be created and given to the user to track the status of the PAN document processing. Contact details will also be given in the application form to resolve the queries. Once the PAN application is prepared, the applicant can sign the application form,

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 24th March, 2021 G.S.R. 205(E).—In exercise of the powers conferred by section 134 read with section 469 of theCompanies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further toamend the Companies (Accounts) Rules, 2014, namely:-1. Short title and commencement.- (1) These rules may be called the Companies (Accounts)Amendment Rules, 2021.(2) They shall come into force with effect from the 1st day of April, 2021.2. In the Companies (Accounts) Rules, 2014,-(1) in rule 3, in sub-rule (1), the following proviso shall be inserted, namely:-“Provided that for the financial year commencing on or after the 1st day of April, 2021, everycompany which uses accounting software for maintaining its books of account, shall use only suchaccounting software which has a feature of recording audit trail of each and every transaction, creating anedit log of each change made in books of account along with the date when such changes were made andensuring that the audit trail cannot be disabled.”(2) in rule 8, in sub-rule (5), after clause (x), the following clauses shall be inserted namely:-“(xi) the details of application made or any proceeding pending under the Insolvency andBankruptcy Code, 2016 (31 of 2016) during the year alongwith their status as at the end of the financial year.(xii) the details of difference between amount of the valuation done at the time of one timesettlement and the valuation done while taking loan from the Banks or Financial Institutions along with thereasons thereof.” [F. No. 1/19/2013-CL-V-Part III]K.V.R. MURTY, Jt. Secy Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013