Analysis of Operating Environment and Competition
Online Matrimonial Services
We now have analyzed the many aspects according to online matrimonial services taking into consideration a wide range of Macroeconomic and Microeconomic factors that affect this kind of business. We have studied these with the perspective of Bharatmatrimony. com, one of the leaders through this field. A number of the major conclusions can be highlighted as follows: 1) Demographic Factors: The majority (40%) of the users falls in age group of 25-35, with a bulk belonging to cities. 2) Appartenente Cultural factors: A majority of the users of these solutions are the central income group with salaries above Rs 30, 500 and with a good educational backdrop. 3) Financial Factors: In conditions of economic recession, father and mother prefer grooms with a General public sector work, depicting financial stability. 4) Political and Legal elements: The popularity of LGTB rights as well as the diplomatic insurance plan of the government has an impact on the matrimonial industry. 5) Technological factors: With advancement in technology like comfortable access to net and Mobile phones, avenues have got opened up for online marriage to reach out to new markets and people. 6) Various microeconomic factors just like Customer needs, Competitor approaches, Use of multimedia for successful advertising as well as the contribution of employees likewise play a crucial role inside the strategy of the business. LONG TERM TRENDS:
New trends from this industry are movement toward brick and mortar model, Growth potential in fresh economies, built-in platform for services like wedding planning, legal services, etc . being made available and go up of niche matrimonial sites, catering to a particular segment of customers. Study of Competition:
The market framework that on-line matrimonial providers operate in is Monopolistic competition and competitors consist of Jeevansaathi. com, shaadi. com and simplymarry. com. SWOT Analysis:
Strength: Ability to pioneer.