Developing Innovative Marketing Strategies and Transforming Business Models: An Economic Perspective on Mission Shakti

Abstract

                This study aims to develop business models and marketing plans for Mission Shakti.Mission Shakti is a women-led initiative in Odisha, India, that empowers women through self-help groups and entrepreneurial activities.The research is to look at how Mission Shakti develops its business and marketing plans, evaluates how quickly and effectively these plans are implemented to improve rural livelihood management using the 5T framework, and looks into the particular benefits and enhancements that the updated model brings to the organization's overall marketing strategy.The study's qualitative analysis is based on empirical data from fieldwork done in the state of Odisha, located on the eastern coast of the Indian subcontinent. Interview questions included open-ended inquiries about marketing plans for Mission Shakti, business canvas mechanics, and family and community support for launching and growing their enterprises. A total of 163 Mission Shakti groups of women were interviewed using this method. SWOT analysis and the Business Model Canvas (BMC) were used to analyze the data.The development of Mission Shakti's marketing and business strategy include teamwork, market research, and a concentration on the unique requirements of rural areas. These plans have been quickly and successfully implemented utilizing the 5T framework, improving the management of rural livelihoods. Mission Shakti's approach has been greatly enhanced by the updated marketing model, which has led to more focused marketing campaigns, expanded outreach, and boosted rural women's economic empowerment.The limitation of the study is that it focused on women entrepreneurs in Mission Shakti's rural sector in Odisha. Similar studies can be conducted in other Indian states with a considerably impoverished rural population.There are very few studies in the Indian context which focus on the business canvas of women entrepreneurs in the rural sector. This study presents new knowledge about women's marketing strategies in India.The study results provide Mission Shakti Groups with managerial insights for implementing creative marketing tactics. To support rural populations in Odisha, it is envisaged that Mission Shakti would develop and become sustainable. The research findings provide theoretical insights by providing techniques for developing business models and marketing strategies.