CHRIST (Deemed to be University)
School of Commerce, Finance and Accountancy
Department of Professional Studies
Assignment Submission
DIGITAL MARKETING
Submitted in partial fulfilment of the requirements for the degree of
Bachelors of Commerce (Finance and Accountancy)
Submitted by:
JAHANVI BHARDWAJ (2314624)
Under the Guidance of
Mr. Bharath Rajanna
Department of Professional Studies
School of Commerce, Finance and Accountancy
Academic Year 2024-25
Introduction to Akshaykala
Clay has been used since human civilization began. As humans have shaped the clay, the clay has
shaped the human civilization as well. The process of mixing mud with water, giving it a shape
and then firing it has been a turning point in the history of humanity. Almost, every place in the
world has their own kind of pottery or earthenware.
Akshay is an incubated start-up committed to reviving Indian art forms through sustainable
practices. In collaboration with 25+ artisans, including tribal and local craftsmen, as well as
housewives, the start-up promotes traditional craftsmanship while embracing eco-conscious
methods. Specializing in handcrafted earrings made from natural and sustainable materials like
terracotta, bamboo, fabric, canvas, and Patwa thread, we blend rich artistic heritage with modern
innovation. Their AI-powered platform offers tailored earring recommendations, seamlessly
merging technology with heritage.
From stunning terracotta earrings to exquisite handcrafted jewelry, every piece at Akshay
captures the essence of our rich cultural roots, with a modern twist. Our creations are on a
journey, transitioning from local bazaars to the world stage, all while giving our talented artisans
the spotlight they deserve.
Combining entrepreneurship with social responsibility, we offer vibrant, earthy designs to
statement pieces, our collection is a perfect blend of tradition and modern style. Each piece is
meticulously crafted with love, making it the perfect addition to your jewelry box!
Background
We been actively working on setting up a system to improve the economic well-being of
impoverished artisans in India, by selling their handmade products in the market. We wants to
upskill the local population and set up cottage industries, with a vision of holistic development of
a village and improving the standard of living while taking into consideration the environment
and culture of the place. Combining entrepreneurship with social responsibility, we offer vibrant,
earthy designs to statement pieces, our collection is a perfect blend of tradition and modern style.
Each piece is meticulously crafted with love, making it the perfect addition to your jewelry box!
Mission: Upskilling the local populations by setting up cottage industries and creating
awareness- social, economic and environmental.
Vision: Lifting up the economy, the environment, and the human spirit in villages and beyond.
Products: Unique, handmade earrings and accessories.
Market Overview
The demand for unique, personalized and sustainable fashion accessories is growing
significantly.
Valued at $151.5 billion in 2022, global handmade jewelry market is projected to reach $472.5
billion by 2032, with a compound annual growth rate of 11.9% from 2023 to 2032. There is a
rising demand for custom-made pieces as consumers seek individuality in style. The sustainable
jewelry market is projected CAGR of 8.9% reaching approx. $97.8 billion by 2032. A significant
share of handmade jewelry market comes from Asia-pacific region due to skilled artisans and
craftsmanship.
• Personalization and customization: consumers are inclined towards favoring bespoke
jewelry pieces that tell personal stories, incorporating elements like birthstones, initials or
symbolic motifs.
• Sustainability and ethical sourcing: there is a growing awareness around using recycled
materials, lab-grown gemstones, and transparent supply chains to meet the ethical
standards of the youth.
• Technological integration: ecommerce and digital marketing are making it easier for
artisans to reach a wider audience as social media plays a huge role in brand building and
customer engagement.
• Cultural appreciation: there is an increase in fondness for jewelry that reflects culture and
heritage.
In India, the handicraft and handmade jewelry sector’s exports exceed $3 billion annually.
Millennials and Gen Z prefer sustainable and purpose-driven brands.
SWOT Analysis
• Strengths: Unique designs, customization and personalization, strong social impact,
sustainability focus
• Weakness: limited production capacity, low urban penetration
• Opportunities: ecommerce expansion, export market, collaborations
• Threats: competition from larger brands, imitation products.
PESTEL Analysis
1. Political Factors:
• Government support: initiatives like “Make in India” and “Skill India” provide
support for handicraft.
• Trade policies: favorable export policies for handicrafts to promote international
trade opportunities.
2. Economic Factors:
• Increase in disposable income: rising middle-class income drive demand.
• Market growth: steady growth of handicraft and handmade jewelry market.
• Cost of raw material: fluctuations in cost of clay, paint and other raw materials.
3. Social Factors:
• Changing consumer preference: increasing preference for sustainable artisanal
products.
• Empowerment of women: social acceptance of women-led businesses in rural
communities.
• Cultural awareness: rising appreciation for indigenous and art and heritage-
driven products.
4. Technological factors:
• E-commerce: amazon, etsy, shopify providing global reach.
• Social media: Instagram, facebook and influencer partnerships for brand
visibility for marketing.
• Digital payment gateways: UPI and other safe payment options drive online
purchases.
5. Environmental Factors:
• Sustainability: growing emphasis on eco-friendly production and zero-waste
practices.
• Eco-conscious consumers: increasing demand for environmentally responsible
products.
6. Legal Factors:
• Intellectual property rights: protection of original artwork to prevent imitation.
• Labor Laws: compliance with safety standards and safe working conditions for
artisans.
Target market
Our primary audience are women aged 18-45 in urban areas seeking heritage-based sustainable
fashion, eco-conscious buyers and gifting markets. Mid to high income groups in metropolitan
cities . Psychographically, people who value cultural heritage, sustainability and unique designs.
Current business position: existing presence on Instagram with steady local sales, limited reach
to urban and international markets.
Competitor Analysis-
• Terracotta by Sachii: known for contemporary designs
• Kavya Terracotta: affordable
• IndieHandmade: strong e-commerce presence
• Tribal Art India: strong heritage appeal
Porter’s five forces analysis:
• Competitive rivalry: moderate
• Supplier power: low due to availability of raw materials
• Buyer power: high due to price sensitivity
• Threat of substitution: high from cheaper imitation products
• Threat of new entry: moderate
7 P’s of Marketing:
A. Product: expand product range and diversify designs with customizable designs.
launch seasonal and festive collections like candles and lamps during Christmas or
Diwali. Focus on premium product lines for special events. Product range include
earrings, bangles, crotched key rings, bookmarks, bracelets, candles, lamps, etc.
Product’s features and Unique Selling Proposition include -
Unique: no twin products. Each one is one of a kind.
Light as a feather: comfortable and easy to carry.
Handcrafted with love: each piece is made by artisans, not factory robots- so you’re literally
wearing creativity.
Affordable: fancy but easy on your wallets
Customizable: get them in your choice of color and designs
B. Pricing: covering production costs and fair wages. Premium pricing for limited-
edition and custom designs and offering discounts on sets or more than 3 pieces.
Prices start from as low as Rs. 50 per pair. All methods of payments are accepted,
there are no free elements as of now. Credit can be availed by selected consumers.
C. Place: strengthen presence on e-commerce platforms like myntra, flipkart, amazon
etc. launch the official akshaykala website, open popup stores in major metro cities,
collaborate with local artisans from other states, commence exports. both direct sales
and online sales are carrying out. D2C basis, retail partnerships
D. Promotion: social media campaigns focused on Instagram, facebook, youtube,
pinterest, reddit. Tie-ups and collaborations with eco-conscious and fashion and
beauty bloggers and influencers. Feature in fashion magazines through PR. E-mail
marketing through monthly newsletters with exclusive discounts, search engine
optimization, aggressive advertising through word of mouth.
E. People: skilled artisans, sales team, customer support. Considerate towards
employees and people collaborating with us. Upskilling of rural folk is also an aim.
The management type is democratic and the culture is easy and fun.
F. Process: transparent production and delivery, complaint handling team, proper
investment on research and development, prompt response time.
G. Physical evidence: sustainable and proper packaging, branded receipts, about the
artisan to be written on the packaging to strike a connection. Office and stores would
be well-maintained and clean. Safe equipment and facilities, staff would be groomed
according to their convenience. The interior design should reflect the essence of
heritage of Indian craftsmanship.
Marketing Goals
• Increase brand awareness nationally by 25% in 12 months.
• Boost e-commerce sales by 30% in the next year.
• Position Akshaykala as a leader in sustainable, artisanal jewelry.
• Expand customer base through strategic partnerships and collaborations.
• Enhance customer retention through loyalty programs.
Implementation Plan
For the first three months, we aim to develop an E-commerce website of AkshayKala for easy
accessibility and launch social media campaigns aimed to promote sustainable jewelry.
For the next three months, collaborations with micro influencers and creators with less follower
count but high engagement on social media can prove to be helpful. This stage will involve
search engine optimization positioning our brand as the best or most popular handmade earrings.
Our resources involve budget allocation, assigning proper team roles and building healthy
relationships with external vendors. We aim to expand into platforms like Amazon Handmade
and Etsy. Akshay has showed up as a gifting partner in various events organized in universities
across the country. We have also sponsored events across universities. We set-up stalls in various
cultural fairs like jam-street in Jamshedpur, cultural events during Navratri celebrations. We’ve
been a part of exhibitions like ‘Entreprenaari’ held in the city of Mumbai, under the ambit of
Project Naveli by Navya Nanda. We aspire to continue being a part of such entrepreneurial
events this year as well.
Budget and Financial Plan
A custom website with advanced features and functionalities would cost between Rs. 100,000
and Rs. 250,000. While, an e-commerce website can would cost between Rs. 125,000 and Rs.
425,000. The cost of domain registration ranges from Rs. 99 to Rs. 2500 or more per year
depending on the domain name extension.
Organic management of social media would cost between INR 10,000-15,000 per month. While,
influencer marketing costs are estimated to start from INR 20,000 and are project based. Specific
campaign needs can be beyond INR 150,000.
Most startup events and conferences in India are held in posh hotels and charge exorbitant fees.
INR 25000 should be set aside for entry events and conferences. Expected ROI is 150% increase
in revenue within a year.
The BCG Matrix
Category Products Strategy
Stars Bestseller jewelry Invest heavily
Cash Cows Classic designs Maintain focus
Question Marks Seasonal collection Analyze growth potential
Dogs Niche items Phase out
Question
Star
mark
Cash
Dog
Cow
Growth strategy matrix
strategy Description Example
Market penetration Increase in market share Social media
Market development Enter new geographical exports
markets
Product development Introduce new product lines Festive collection
Diversification Explore new markets Home decor
The Loyalty Ladder
customer client advocate
Perceptual map
Tribal art
Akshaykala
india
Mass
kavya
market
terracotta
terracotta
Position Brand
Top left(traditional&affordable) Tribal art india
Top right( premium &traditional) akshaykala
Bottom left (traditional&premium) Mass market terracotta
Bottom right Kavya terracotta
STP Analysis
Segment Target audience Positioning
segmentation Eco-conscious buyer Urban consumer aged 18-45
Targeting Mid to high income Online shoppers
Positioning Premium, handcrafted Handmade elegance
jewelry
PR Smith’s SOSTAC Model
• S – Situation Analysis: Market overview, SWOT analysis
• O – Objectives: Increase sales by 30%
• S – Strategy: Digital-first marketing, influencer collaborations
• T – Tactics: Social media campaigns, product launches
• A – Action: Weekly content calendar, partnerships
• C – Control: Monthly performance reviews, KPI tracking
Link for component 1-
https://drive.google.com/file/d/1PEVrEws5_1tYwCFVqh7WLmzpSo5JwcqD/view?usp=dri
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