Question: Read the article and answer the question: Read the article and answer the question: 1) With reference to the organization of your assigned case, give

Read the article and answer the question:

Read the article and answer the question:

1) With reference to the organization of your assigned case, give an example where the customer and consumer of the product are different. Required to answer. Multi-Line Text.

2) What is the target market for the product of the organization in your assigned case? State 2 other market segments that they can focus on. Required to answer. Multi-Line Text.

3)Briefly explain your opinion on the provided business scenario from your assigned case - would you recommend them to go ahead with the business plans and strategies? Why or why not? Required to answer.

Alibaba has entered Bangladesh's burgeoning food delivery market by purchasing HungryNaki, the country's first on-demand delivery platform, demonstrating the Chinese multinational's ongoing efforts to grab a bigger share of the local e-commerce market. Officials of Daraz, a concern of Alibaba Group, and HungryNaki yesterday announced that the former had taken over all of the latter's tangible and intangible assets for an undisclosed amount. HungryNaki will continue to function as usual with its existing employees as a separate brand with an independent food delivery platform owned by Daraz. The development comes at a time when the local food delivery is expanding rapidly but still remains largely untapped. Daraz, which has operations in Bangladesh, Pakistan, Nepal, Sri Lanka and Myanmar, was acquired by Alibaba in 2018 in a surprise move. Alibaba's financial service subsidiary Ant Group also bought a 20 per cent stake in bKash, the largest mobile financial service provider in Bangladesh, in the same year. Daraz has long been considering a takeover of HungryNaki, even before the Covid-19 pandemic had emerged. "We aspire to be a one-stop solution for all our customers' needs," said Syed Mostahidal Hoq, managing director of Daraz. "So, getting into the food delivery business is a natural move," he added. HungryNaki is the pioneer in food delivery services in Bangladesh and has a loyal customer base. "Therefore, we believe that instead of building our own delivery business from the ground up, acquiring HungryNaki is ideal considering these two factors," Hoq said. By investing in infrastructure, technology and human resources, Daraz has the ability to take HungryNaki to new heights. Launched in 2013, HungryNaki, serves more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox's Bazar, and Narayanganj through its network of over 4,000 restaurants. It was a success story till 2018. After that, it came under severe competition when two new players -- Shohoz Food and Pathao Food -- entered the market. The following year, Uber Eats arrived and soon gained popularity with its solid service. However, Uber Eats abruptly left in June last year as the ongoing pandemic made a serious dent in its business. The brutal heat of the pandemic was also felt by HungryNaki. In the early stages of the coronavirus outbreak, the business had declined over 70 per cent due to restaurant closures, said AD Ahmad, CEO and Co-founder of HungryNaki, earlier. In a bid to survive, HungryNaki provided full Qurbani services during the last Eid-ul-Azha. Replying to a question regarding the sale of the platform to Daraz, Ahmad said it was really a moment of joy for a home-grown company to be able to attract a global company as a buyer. Industry insiders were, however, critical, saying the development set a bad precedent as it shows that local startups can't survive on their own. Some said the move would create uneven competition in the market, where over half a dozen of e-commerce platforms are operating. "It would have been better if Daraz had just bought a stake in HungryNaki instead," said an industry insider, preferring anonymity. Usually, acquisitions like this cost a lot of money, but HungryNaki was sold at a very low price, he said. "This is frustrating as only Alibaba is the winner in this case," he added. Other market players think this move will create uneven competition in the market. "Daraz's recent acquisition provides market validation for the emerging consumer technology sector in Bangladesh," Hussain Elius, co-founder and CEO of Pathao, told The Daily Star yesterday. "However, it also illustrates how the lack of an enabling policy environment cedes the market towards colonization." "To build a truly digital Bangladesh, we need to allow local champions to emerge, grow, thrive and build the critical digital infrastructure of the country." DARAZ TO FACE STIFF COMPETITION Daraz has big dreams for HungryNaki. "We want to be the second leading market player in six months and the leading one within a year," said Daraz Managing Director Hoq. But to turn the dream into reality, the e-commerce giant will have to face a grueling battle with other competitors.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!