SME Analysis

Submitted By-
Abdulla Afnan
ID-1911921630
Sec-11
Course code- Inb 372

Submitted to-

Mahmud Habib Zaman (MHz)

Department of Marketing and International Business.

North South University.

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 SME Analysis of Geek zone

Abstract: 

This case highlights the success, challenges, and problems faced by an online small-medium

enterprise named Geek zone and how they deal with their problem and get success. It also

provides information about the gadget market, internet users, and Facebook users of Bangladesh.

This case also shows the importance of suppliers for SMEs like Geek zone, how they survive in

the pandemic of the coronavirus, and this competitive online market. 

Introduction:

Geek zone, an exclusive shop with smart gadgets, is committed to providing you authentic

gadgets at a reasonable price, delivering all over Bangladesh. It is a Facebook shop that started

on 7th April 2018 with the Geek zone's name. One of my friends, Faisal, always wanted to do

something, then once in the evening while having tea, he decided that he will do online business.

He chooses online business because it is easy and convenient in our country; within the night, he

created a page. At first, he decides that he will sell only jewelry items through his page.

However, because of the huge availability of the same jewelry in our country, he could not

capture the market. Then Geek zone shift its focus towards the authentic gadget, which has a

huge demand in our country. According to Wikipedia (2017), "A gadget is a device or instrument

that has practical goals and functions that are specifically designed to be more sophisticated than

previously created technology. The difference between other gadgets and technology is the

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smaller size". Another definition of the gadget is "Sophisticated items that can present a variety

of news media, social networks, hobbies, and even entertainment" [ CITATION Bea15 \l 1033 ].

Those people who are using the internet must have any kind of gadget, such as a smartphone,

tablet, smartwatch, headphone, etc. The number of internet users in Bangladesh is 96,199,000,

which is 58.4 % of its population [ CITATION Asi20 \l 1033 ]. So it's a huge market for gadgets,

and that's why Geek zone shift its focus to the gadget market. The aim of Geek zone is that every

single family or home will have at least one gadget. Though now they only import airbuds,

smartwatches, headphones, back cover, and android phone, they also take preorder of any types

of gadgets. 

Challenges, problem, and how they address them:

 The first problem or challenges faced by the Geek zone is in their supplier management.

"Supplier management seems like an easy thing, to sum up. In very broad terms, it refers to the

management of relationships with third-party vendors that supply your organization with

essential goods and services" [ CITATION Pea19 \l 1033 ]. At first, their main suppliers were

local importers. They collect the product from various suppliers who import products from

outside the country. But it creates many problems. Firstly, they could not sell their product at a

reasonable price, which they promise to do. Secondly, their product was not good and could not

fulfill customer expectations. To deal with this problem, they decided that they will import

directly from china, which will help them to minimize their cost. Thus they can sell authentic

gadgets at a reasonable price.

As they started to import their product from china and sell it all over Bangladesh through their

Facebook page, but the coronavirus stops this. Because of the coronavirus, all flights and imports

from China were banned, and that's why "China's exports dip 3.3%, imports shrink 16.7% in

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May" [ CITATION Bus20 \l 1033 ]. All these create tension for SMEs like Geek zone. To

overcome this problem, they again collect the product from their local vendors. Though the price

was high, they only add the cost with the price. And without profit, they sell it to run the

business. It helps them to survive in this pandemic. 

How they become popular: 

Bangladesh is a country with a huge population. In this era, lots of people are using Facebook. In

Bangladesh, about "33,713,000" people using Facebook [ CITATION Asi20 \l 1033 ]. As Geek

zone is an online shop that is managed by a Facebook page. So its customer must be a Facebook

user. There are many shops in our country like them. But it is popular because of its authentic

product, reasonable price, and popularity. To become popular or get more followers, they use

boosting. Boosting is a popular marketing tool. Boost a post will increase the engagement of

customers, likes, comments, shares, and followers by appearing on the user's newsfeed. It also

increases the visibility of their post. It's not only appeared on the newsfeed of the existing

follower but also appeared on the newsfeed of people who are not their existing followers

[ CITATION FPT20 \l 1033 ]. By boosting the Geek zone, increase their follower.  

Another technique that they follow is contest. "Contest marketing is a marketing strategy that

utilizes contests, giveaways, sweepstakes or lotteries to boost brand awareness and reach new

potential customers" [ CITATION Lee20 \l 1033 ]. Contest is a great way to reach the customer.

It is a way where your customer will do your marketing. By giving a contest, they can increase

the potential customer. Contest marketing plays an important role in helping businesses. This

makes it easier to connect with more people related to your niche.

How they can sell the product at a reasonable price-

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"Authentic product with reasonable price" is the main slogan of Geek zone. They promise to

their customer that they will give a product at a lower price. They directly import their gadget

from china and import large quantities so that they can minimize their cost. There are many

benefits of importation such as introducing new products to the market, reducing cost, becoming

a leader of the market, and also providing high quality and authentic products [ CITATION AAC

\l 1033 ]. Working with international suppliers or overseas sourcing has a great advantage in

terms of cost savings. 

Master copy smartwatch: 

They get a huge sell when they introduce 1st copy smartwatch of the apple watch in Bangladesh.

We know the price of an apple watch is very high, and the people who belong to the middle-class

family can not afford it—thinking of middle-class people, Geek zone import master copy

smartwatch, which is cheaper and of good quality. 

Conclusion: 

In conclusion, Geek zone faced a problem that is common for every online SME's. Though

coronavirus has a huge impact on every organization, many of them could not survive or run

their business. Many SMEs shut down their business because of this pandemic. But Geek zone

run their business and survive in this pandemic by following some technique. They use some

strategic online marketing tools to become renowned and increase their follower. Although they

have not any significant success, they have some appropriate business plan which will help them

to become successful in the future. 

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References-

References
A & A Customs Brokers. (n.d.). What are the Benefits of Importing and Exporting Products? Importing.
Retrieved from https://www.aacb.com/benefits-of-importing-and-exporting/
Asia Internet Usage Stats. (2020, November 12). Internet World Stats. Retrieved from Internet World
Stats Web site: https://www.internetworldstats.com/stats3.htm
Business Standard. (2020, June 7). Business Standard. Retrieved from Business Standard Web site:
https://www.business-standard.com/article/international/coronavirus-impact-china-s-exports-dip-
3-3-imports-shrink-16-7-in-may-120060700290_1.html
FPTraffic. (2020, May 18). FPTraffic. Retrieved from FPTraffic Web site: https://fptraffic.com/boosting-
facebook-page-post
Lee, V. (2020). What is Contest Marketing and How Can It Work For Your Brand? Marketing. Retrieved
from https://blog.advesa.com/marketing/what-is-contest-marketing-and-how-can-it-work-for-
your-brand/#:~:text=Contest%20marketing%20is%20a%20marketing,consumer%20desire
%20for%20free%20stuff.&text=Website%2Dbased%20contests%20that%20gather%20consumer
%20informati
Manumpil, B. (2015). Hubungan penggunaan gadget dengan tingkat prestasi siswa. Jurnal Universitas
Sam Ratulangi.
Pearce, N. (2019, June 6). HICX Solution. Retrieved from HICX Solution website:
https://www.hicx.com/supplier-management-what-is-supplier-relationship-management/

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