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Sunday, September 26, 2021

Deepinder Goyal: Delving into the Business Strategies of Indian Food Delivery King

Introduction

Deepinder Goyal was born on 26th January 1983 and brought up in Muktsar, Punjab, and use to belong to a middle-class family. He is one of the biggest restaurant Aggregator and the CEO and co-founder of Zomato which basically is a food delivering app, it provides foods to the doorstep of every customer from different restaurants. Not only in India the Zomato app also provides its service to other 24 countries like Sri Lanka, UK, UAE, and so on and in more than 10,000 cities. In 2008 Zomato was first introduced by Deepinder Goyal and Pankaj Chaddah and they changed the name from Foodiebay to Zomato in the year 2011. Deepinder Goyal is graduated from IIT Delhi under the stream mathematics and computer in the year 2005. After the completion of Graduation, he started working in an organization named Brain & company and was designated as a management consultant. Working in the corporate world made him realize the huge demand for foods and food menus amongst his office colleagues and that’s where it clicked and came up with the thought of Zomato. Then he left his job and confidently went on with his entrepreneurial journey with his idea of the food delivering service. He started his venture in 2008 with the name of Foodiebay later in 2010 he renamed it Zomato.

Story of the brand Zomato

All the startups have their own story to tell, India’s most popular food delivering app Zomato has also a story that includes lots of ups and downs in its whole journey of success. Some moments were full of accomplishments and achieving goals and there were also troubled and bad times. 

In 2015 the company went through massive losses and layoffs, chances of survival of the Zomato became a question and this was the worst hit for the company ever. The company’s success story completely depends on the CEO Deepinder goyal and Co-founder Pankaj Chaddah helped the company to grab its success and let it grow and also in expanding its business all over India and finally making it a Footech unicorn for India. 

Zomato has a lot of its competitors such as Uber Eats, Ola-Foodpanda, and Swiggy but it continues to serve the best innovative offers and satisfying the customers by matching their food cravings by delivering it to their doorsteps.

Related Article: Always Degree Can’t Buy You Success: The Ritesh Agarwal Story

Strategies

Zomato has various unique kinds of strategies to accomplish their goal.

1. Financial strategy

They increase their revenue and fund. Zomato also allows membership and holds a loyalty function with the valued customers to create a loyal and long-term bond with them. Zomato also provides various offers for the customers who have gold membership and they get additional advantages of their money.

2. Growth strategy

Their main motive is to grow without any pause and increase the chains of their customers. Most customers prefer the Zomato app for their convenience instead of the discount it provides. It became more popular among the people as it provides all the necessary information about all the restaurants and their food quality, ambience, etc whatever the customers want to know about a particular restaurant.

3. Globalisation strategy

They provide services globally so that they have business expansion all around the world. Recently Zomato has also started Zomato money for online food delivery system.

4. Marketing strategy

They have focused on making a user-friendly app and website. It has also focused on the digital marketing mediums to get more potential customers and they have a simple rating and review system which is very important for the customers. They also promote themselves by providing price-offs and discounted coupons and also through direct mails and phone calls.

5. Social media strategy

Zomato uses different social media platforms to get connected with the customers.

1. Facebook, has above 600k followers which forms a strong community.

2. Twitter, has around 114k followers and is a great platform to connect with their customers, they always try to solve and answer all the queries asked by the customers.

3. Blog, They also update and share about all the latest offers, discounts all updates, and staying updated is very important for the customers.

Conclusion

The application that is present in almost everyone’s phone, the one that rules our smartphones is one of the most successful food delivering applications and has done tremendous business in the financial year 2019-2020. Making big in this business always means profits in terms of sales but Zomato being a very profitable organization in terms of sales also takes care of humanity and morality and has given many cafes the space to pitch their business underneath them and has also given a lot of people work and has contributed majorly to the GDP.

Also Read: Fabric Startup Fabcurate: The Leading Fabric Startup

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Kiara Dutta
Kiara Dutta comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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