In the midst of all the economic turmoil in
Venezuela, the old Venezuelan Bolivar has lost almost all of its value against
the US Dollars and the Venezuelan Government has decided to launch its own
cryptocurrency called Petro in order to overcome the financial blockades. As we
usher in to the digital era, becoming more tech-savvy day by day, the
popularity of cryptocurrency as a medium of exchange is correctly justified. A
cryptocurrency is a kind of virtual money that uses cryptography, a complex
process of encoding data, to keep transactions secure from outside parties —
like foreign governments looking to impose sanctions.
Since, in the current scenario,
people are already familiar with cryptocurrencies like Bitcoin, accepting the
validity of Petro won’t be difficult for the citizens of Venezuela and the
global economy as a whole. The performance of Bitcoins as compared to Bolivar
was much better which again reflects the fact that use of Petro can actually
help the government to foster the crashing economy due to a steep fall in the
value of Bolivar. Moreover, unlike its other counterparts, Petro is backed by
hard assets- oil, gold and mineral reserves, which clearly provide the citizens
some sense of security. Also, the introduction of Petro will improve the
country’s economic condition and this in turn will reduce inflation. This will
benefit the citizens. Since the Bitcoin market has crashed, those who have
their money invested in it can securely transfer it to Petro, which is a safer
form of cryptocurrency.
Lastly as a country, we should all unite and try to make
Petro a success.
Cannabis in India has been used since as early
as 2000 BCE. In Indian society, common terms for cannabis preparations include
charas (resin), ganja (flower), and bhang (seeds and leaves), with a milkshake
made from bhang being one of the most common licit usages in India.
Market segmentation can be done
on the basis of Geographic, Demographic, Behavioural and Psychographic factors.
Geographic factors include location/region of the consumers. In this case, the
geographic market for hemp would cover all of India except the states of Assam
and Maharashtra where consumption, possession and production of hemp is banned.
Demographic factors relate to
the age, gender, occupation and the socio-economic groups of the consumers.
Behavioural factors refer to the
rate of use, benefits sought, loyalty status, readiness to purchase etc.
Psychographic factors include various psychological
aspects of the consumers like personality.
India can be a huge market for Protea Services since the
use of Cannabis is banned in only the states of Assam and Maharashtra. Thus,
according to the Geographic factors for market segmentation, apart from these
two states, Protea can easily expand its operations across all over India.
Also, the usage of hemp has been found out to be greater in the urban areas as
compared to rural areas. Thus, our focus would be on expanding our base to the
grass root level, that is, to the rural areas where the major population of the
country lies apart from the urban areas.
The target market would include people above the age of 21
years who are working and thus have to cope up with ‘stress.’
On conducting a SWOT Analysis
for expanding in the Indian market, we got the following results:-
Strengths- Bhaang is mentioned in several Indian
texts dated before 1000 CE. It has been a part of the Indian culture since time
immemorial. Hence, it is socially acceptable in almost all parts of the
country. Legally, it is accepted in all the states except Assam and
Maharashtra. Moreover, cannabis also holds cultural importance as it has been
mentioned in the Vedas and is a part of celebrations and festivals like Holi.
Apart from releasing stress, it also has certain medicinal purpose which adds
to our strengths.
Weakness- although, it has medicinal value, but
one must be aware of its misuse or overuse as it is seen nowadays. The product
must be taken in small quantities as excess amounts might lead to health
Opportunities- the market for cannabis is
opening up in India as we have seen an increase in the demand for cannabis
mainly in the upper middle class section of the society. Also, with the
discovery of its medicinal purpose, its demand has been ever growing.
a major threat that we face is from NGOs and activists against the promotion of
narcotics and tobacco among the people of the society.
WORK FOR A CAUSE
The company Outlaw Ltd., known for making the
finest quality of cowboy hats in the world, is starting the unique ‘Buy One
Give One’ initiative. The whole idea behind this initiative is to ‘Work For A
Cause,’ that the company identifies with. The main cause that the company works
for is to identify the ‘Outlaws’ or the ‘Ostracised’ of the society and help
them provide ‘Shade.’ With the sale of
every single cowboy, 5% of the sale receipts go for funding the construction of
houses for the ‘outlaws.’
Cowboy hats have always been a part of the
Western culture. It is worn by the boys who work in ranches in North America,
Mexico, parts of Canada and Europe. It has several advantages like it acts as a
protection against sun because of its unique wide-brimmed design which also
makes it stand out in the crowd and thus comes the second advantage; it can
also be used to signal from a distance or to identify a person. Or, it is
simply worn to make a fashion statement.
We are well aware of the plight of the
‘Outlaws’ in our society as they are not just excluded, but, looked down upon
and discriminated. Their rights are often violated and they are usually found
to be living in
isolation. With our initiative we plan to aid in construction of houses
that they could live in at peace and also lead a normal life and also help in
their personality development so that they could prove to be an integral part
of the society. Thus, the consumers will connect with our cause, help us help
them and in return, get themselves a stylish and quality-assured cowboy hat
from Outlaw Ltd.
7 wonder cities is the 3rd campaign of the foundation. Its motive is to choose
7 best cities from among hundreds of them. These cities are being judged on the
basis of a lot of parameters. These parameters include the aesthetic value,
recreational value, health and hygiene factors, safety, the economy, literacy
rate, sex ratio, governance, tourism, facilities etc.
Although the previous voting campaign was criticised for being available
only to internet user, in the current scenario, the use of internet and the
users of internet has doubled from what it was a decade ago. Thus, voting will
take place online as it will not be a problem now as most of the people have
internet connections. Moreover, the cost of conducting elections at such a
large scale electronically would be neglible compared to conducting such a
large scale offline voting. Also, the campaign would gain a lot of popularity
from internet alone that the first loophole has been overcome completely.
As for the second loophole related to the channelization of funds, it
will be done in a public forum and the data will be published on the website.
It reduces the chance of frauds. The foundation intends to tie up with
government bodies of the particular cities in order to prove authentic in the
eyes of the people and garner their support for the campaign. The foundation
will also be accountable for any fallacies as it will be seeking support from
the government bodies too so there would be transparency and absolutely no
doubts regarding the channelization of funds.
Lastly, to ensure mass participation and success of the
campaign, we are providing incentives to the participating cities as well as
the voters. The winners will get funding from international bodies like
IMF, World Bank and UN for up to $1 Billion
so that the cities are encouraged to take part in this campaign. Also, the
voters will have daily lucky draws and he winner of this lucky draw will get up
to $500,000 so that voters are incentivized to be a part of the campaign.