Analysis of Operating Environment and Competition
Online Matrimonial Services
We have analyzed the various aspects with respect to the online matrimonial services taking into account a wide range of Macroeconomic and Microeconomic factors that affect this business. We have studied these with the perspective of Bharatmatrimony.com, one of the leaders in this field. Some of the major findings can be highlighted as follows: 1) Demographic Factors: The majority (40%) of the users falls in the age group of 25-35, with a majority belonging to urban areas. 2) Socio Cultural factors: A majority of the users of these services are the middle income group with salaries above Rs 30,000 and with a good educational background. 3) Economic Factors: In conditions of economic recession, parents prefer grooms with a Public sector job, depicting financial stability. 4) Political and Legal factors: The acceptance of LGTB rights as well as the diplomatic policy of the government has an impact on the matrimonial industry. 5) Technological factors: With advancement in technology like easy access to internet and Mobiles, avenues have opened up for online matrimony to reach out to new markets and people. 6) Various microeconomic factors such as Customer needs, Competitor strategies, Use of media for effective advertising and the contribution of employees also play an important role in the strategy of the business. FUTURE TRENDS:
Some new trends in this industry are movement towards brick and mortar model, Growth potential in young economies, integrated platform for services like wedding planning, legal services, etc. being made available and rise of niche matrimonial sites, catering to a particular segment of customers. Study of Competition:
The market structure that online matrimonial services operate in is Monopolistic competition and competitors include Jeevansaathi.com, shaadi.com and simplymarry.com. SWOT Analysis:
Strength: Ability to innovate.