Quikr, an online classifieds marketplace, has launched a new campaign around the concept of Maximum Selling Price (MSP). This helps buyers and sellers arrive at an optimum price range for their pre-owned products. Quikr’s MSP ad has been conceptualized by Scarecrow Communications and has been directed by Naren Multani.
India is a very value conscious market and the sensitivity to price applies to both the sell side and buy side of any transaction. Talking about the move, Pranay Chulet, CEO of Quikr, says, “Sellers want to get the best price for whatever they are selling and the buyers also want to know the reasonable price for whatever they are buying. The problem in used goods transactions is no one knows what the right price is. MSP gets to the heart of the problem and reduces the uncertainty that sellers and buyers face in these transactions.” The MSP is a price guideline based on enormous amounts of market data.
According to Alexa (a tool that has become the accepted benchmark inspite of not being completely reliable), Quikr is the 13th most popular site and the company has claimed traffic of over 25 million visitors each month about a year ago.
Founded by Pranay Chulet and Jiby Thomas in 2008, Quikr has raised more than $50 million across five rounds from various investors. Argentina-based OLX is the biggest competitor for Quikr and both have marketed heavily via all channels to acquire more users.
MSP is an interesting concept introduced by Quikr. Aparna Mahesh, Brand Head, Quikr says, “Price and value will always be an important part of the Indian narrative. We believe a powerful tool like MSP will help overcome the inertia when it comes to selling old stuff lying at home.” The concept of MRP is well ingrained in the minds of people which will make it easier for them to understand the concept of MSP. Television, radio and the internet will be used extensively for this campaign.