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<ul><li>After consumers spammed Zomato’s social media pages criticising its <keyword id="152806" type="PERSON" weightage="20" keywordseo="butter-chicken">Butter Chicken</keyword> ad on YouTube, the brand has decided to give its users an offer they wouldn’t refuse. </li><li>It is calling for entries for an ad from its consumers and has promised a handsome reward of Rs 25 lakh for the best creation. There are 2nd, 3rd and 4th prizes, too! </li><li>Apart from the quirkiness in which they made this announcement, we loved the fact that the platform agreed with the consumer reaction to their ads and said they agree their YouTube ads suck. </li></ul>Zomato’s latest social media plan is proof that the brand has a super innovative marketing team working behind the scenes. After consumers felt tired of watching Zomato’s YouTube and TV ads, a few of them took to social media platforms to make fun of the brand for its Butter Chicken ad. However, Zomato is taking this criticism in its stride and has come up with a rather smart idea that will not only help it come up with some fun campaign ideas, it will also help it win brownie points with its consumers. The food-tech firm has admitted that its “YouTube ads suck!” So now, the brand has opened the floor for consumers to send in their entries for a creative ad. Apart from the novelty of the idea of crowdsourcing an ad, the fact that they admitted that they are as tired of watching their Youtube ad as is their consumer, made them win a lot of hearts. <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Users can send in their entries by uploading their advertisement under one minute on Instagram (not TikTok, reminds Zomato with an lol) with <a href="https://www.instagram.com/explore/tags/zomatoloot/">#zomatoloot</a> before Gandhi Jayanti. The best entry will win Rs 25 lakh and the ad will be aired on TV. There are 2nd, 3rd and 4th prizes as well. The winner will also get bragging rights. The creator is required to follow all social distancing rules. Another criteria for judging the best ad will depend on the likes the ad sees on Instagram. Winners will be announced 7-10 after Gandhi Jayanti. It is Zomato’s honest and witty communication that has helped it see steady growth now as par to <a href="https://www.businessinsider.in/business/startups/news/zomato-ceo-bets-on-full-recovery-for-food-delivery-soon-affluent-indians-and-ipl-season-drive-orders/articleshow/78270715.cms">pre-COVID </a>levels. The overall sector is clocking ~85%+ of pre-COVID GMV (Gross Merchandise Value), up from ~75%+ last month. With the ongoing IPL season and the subsequent festival season, Zomato is also expecting food delivery in both metros and smaller cities to make a full recovery soon – and resume growing over pre-COVID levels.

Zomato is offering 25 lakh for a consumer-created ad after users said its ‘YouTube ads suck'

<ul><li><keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword> does not actually offer cheaper food on its platforms, claim analysts. Lower prices are on account of ONDC-funded discounts. </li><li>Discounts will have to be withdrawn at some point by ONDC, which will bring it on par with <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms">Zomato</keyword> and <keyword id="6358977" type="General" weightage="80" keywordseo="swiggy" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/tech/swiggy">Swiggy</keyword> in terms of cost. </li><li>In the food delivery business, scale matters as delivery costs are linked to the number of orders per rider each day. Over the long-term, ONDC could be a threat but not in the near-term.</li></ul>Food delivery app Zomato’s stock price has been languishing between ₹52 and ₹64 for the last one year as its losses continued to widen in FY23. The latest threat to the food delivery company stems from the rise of ONDC (Open Network for Digital Commerce), often touted as the slayer of e-commerce players in India. Soon after launching food delivery on its network, ONDC is now seeing 25,000 orders a day. What makes this worrying is not just order volumes but the pricing. Data seems to suggest that ordering food on ONDC is cheaper than what it is from Zomato and Swiggy, market leaders in the food delivery space. The obvious question to ask is: Will ONDC’s food delivery service kill these existing players? <keyword id="39409" type="General" weightage="50" keywordseo="kotak" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/kotak-mahindra-bank-ltd/stocks/companyid-12161.cms">Kotak</keyword> Institutional Equities seems to believe it’s not an immediate threat to Zomato or its unlisted rival Swiggy. Currently, ONDC is offering discounts on its platform as it has just launched. According to analysis done by Kotak’s analysts, the lower prices are largely on account of ONDC-funded discounts, which may not sustain. Further, the variable cost of running the food delivery business is lower on a scaled-up platform such as Zomato versus a smaller player. Analysts are working on the assumption that at some point the discounts will be withdrawn at some point, thereby creating a level playing field between the players. After the initial discounts are withdrawn, ONDC will have to contend with higher costs unless it chooses not to invest in customer support, which may impact customer retention. Currently, analysts only see a limited impact on Zomato in the near term. According to Kotak, the long-term impact is, for now, tough to call. ONDC is born out of the need for an inclusive online commerce marketplace for sellers, which prevents platforms like Zomato, Swiggy, Amazon and Flipkart from becoming monopolies in their respective segments. Soon after launching delivery of food, groceries and retail, it is clocking daily orders of over 25,000. The prices currently being offered are less than what consumers are paying on other platforms. According to analysts, the lower prices are primarily due to ONDC-funded discounts. If one looks at the numbers on delivery partners, then Zomato had at the end of December 2022, 330,000 active delivery riders, which is more than third party logistics aggregators. Zomato’s delivery cost in FY23 stood at ₹75 per order. The cost of delivery depends on the number of orders delivered, which means that higher the number of orders the better are economies of scale. Experts like <keyword id="45446" type="General" weightage="50" keywordseo="samir-arora" source="Orion">Samir Arora</keyword> too believe that ONDC is not a threat to Zomato and Swiggy at this moment thanks to the understanding of the customer, scale and customer stickiness. Over time, ONDC will have to invest in customer support going forward if it seeks to compete with them on the same plane. While Zomato has been bringing down its delivery costs steadily, it will have to spend more towards restaurant appeasement and customer experience. It will also have to arrive at some agreement with restaurant partners on how it shares customer data. The two food-tech players have been at loggerheads with their respective restaurant partners. The National Restaurant Association has been fighting against some of the practices adopted by these two unicorns without much avail.

ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts

Consulting firms were the top recruiters in the Indian Institute of Management, Calcutta final placement for the 58th batch of the two-year MBA programme followed by <keyword id="25455" type="General" weightage="80" keywordseo="finance" source="Orion">finance</keyword>, sales and marketing companies, a statement issued by the institute said. The final placement drive which concluded on February 24, secured 573 offers for the entire 58th batch. The process was conducted in a hybrid mode, it said. The consulting sector recruited the highest (232 offers), followed by the Finance sector (86 offers), and the two sectors accounted for 55.5 per cent of the total hires, the statement said. Leading consulting firms like Accenture Strategy, Bain &amp; Co, Boston Consulting Group, Kearney and McKinsey &amp; Co, were the top recruiters in the consulting sector. Sales &amp; Marketing (52 offers) and General Management (82 offers) combined accounted for 23.4 per cent of total hires, with companies like Aditya Birla Group, <keyword id="462960" type="General" weightage="50" keywordseo="tata-administrative-services" source="Orion">Tata Administrative Services</keyword>, Vedanta, etc, being amongst the top recruiters in this sector. Top software services and E-commerce brands continued their strong showing accounting for nearly 18.2 per cent of hires. Top recruiters included Amazon, Adobe, Flipkart, Microsoft, Navi, Paytm, Salesforce, <keyword id="830092" type="General" weightage="50" keywordseo="zomato" source="Orion">Zomato</keyword>, etc. The placement season concluded with students receiving average yearly compensation of Rs 35.07 lakh and median compensation being Rs 33.67 lakh, with the top 25 per cent percentile (in terms of salaries offered) of students receiving yearly compensation on average of Rs 50.86 lakh. <keyword id="16727203" type="General" weightage="80" keywordseo="akhil-sachan" source="Orion">Akhil Sachan</keyword> from the 58th batch said, "The final placements this year at <keyword id="19478" type="General" weightage="100" keywordseo="iim" source="Orion">IIM</keyword> Calcutta have been exceptional, especially when you take account of the stressed market conditions. The IIM (C) Joka spirit of standing together and not leaving anyone behind stood tall once again when two years' worth of effort fructified during the last week. The placement team has done a commendable job by bringing in a large number of new recruiters and providing a greater variety of roles..." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/nasas-curiosity-rover-captures-first-sun-rays-on-mars/articleshow/98471257.cms">NASA's Curiosity rover captures first 'Sun Rays' on Mars</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/evs-will-increase-indias-dependence-on-china-for-raw-materials-battery-production-gtri-report/articleshow/98470819.cms">EVs will increase India's dependence on China for raw materials, battery production: GTRI report</a>

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Zomato is offering 25 lakh for a consumer-created ad after users said its ‘YouTube ads suck'

Karuna Sharma

ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts

Malini Bhupta

Consulting firms top recruiters in IIM Calcutta final placement

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