Company:-Paytm
Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida. It was founded in 2010 by Vijay Shekhar Sharma under One97 Communications.
Company Currents Scenario:-
Newly listed on the stock market.Paytm share trade on a low value of the actual price. and PAYTM app loses some market share also, the key competitor is Gpay, phonepe.
What the company needs to do-
Profit increase, increase product market share, brand trust
The news-
Digital Payments startup Paytm Launched UPI Lite for Seamless UPI Transactions
Adoption:- UPI Lite
UPI Lite is a digital account designed to facilitate low-value transactions. This feature will make small ticket transactions easier and quicker. The maximum UPI Lite transaction limit is Rs 200. Paytm, a leading player in the market has introduced UPI Lite which enables users to carry out transactions up to Rs. 200, with a maximum cumulative limit of Rs. 4000.
The UPI Lite app has a maximum balance limit of Rs 2000 at any given time.
A maximum of Rs 2000 can be added to the UPI Lite account twice daily.
This allows for a cumulative transaction limit of Rs 4000 in a day.
Users can make multiple transactions within the maximum UPI Lite transaction limit.
The benefit to Consumers:-
Risk-free, Easy to use for an illiterate person
The benefit to the company- brand attention, New consumer onboard
Loss to the company:-
Still, no loss, waiting for such loss or profit, in the future, it depends.
Learning for the reader:-
UPI Lite is a new concept to market from govt.
Paytm integrates UPI Lite first time on its app in the market before competitors adopt it.
An early adopter marketing strategy in this case is for brand attention to consumers.
Brand attention help in brand trust among consumers.
and it is a long effect on marketing.
Brainstorm;-?