Magic Matrix: Business Assessment Tool
Every business try to bring the best solution for users. Users make the market for the business. Market is the function of different variable and constant factor for the success of product and service.
Brands look for growth in terms of market share and revenue and innovation. While innovation is not a separate growth factor for many brands, it is part of product development and not treated as separate factor.
As we deal with business problems in our consulting journey, we have observed key factors ( constant or variable) that are significant for business growth. In this digital era these factors are key drivers to business success.
Considering several business matrix and consulting framework available, our propitiatory matrix is a tested tools and are used for solving / assessing different business problems . The matrix is used across small , medium and large businesses. It is called the Magic Matrix ( by ExpandNext) or simply put the ExpandNext Magic Matrix.
ExpandNext Magic Matrix is used as an assessment tool to solve business problems. The Magic Matrix framework is used in making strategic decisions for business growth.
Magic Matrix is defined by five (5) parameter below:
M – Measurable
A – Accountable
G – Growth driven
I – Innovation
C – Customer centric
The MAGIC Matrix is used to assess business current process of a company. We rank the company based on MATRIX parameters. Further, this tool is used to improve the strategic growth plan. However, the matrix is not absolute in nature and the success of the tool is also dependent on micro and macro economic factors. This Matrix is relevant for different business and process in different industry.
As announced, by March 2019, the group has set the target to open 100 stores in India, followed by 500 stores by 2020. We are talking about the newly launched apparel business by Patanjali group, called Paridhan. Patanjali has expressed interest to go with Franchise route to expand its apparel business in India. It is a great opportunity to partner with Patanjali as a franchise owner for its Exclusive Brand Outlet (EBO). The location and format for the EBO is not restricted to stand alone retail store. Anyone with store rights in Malls and Commercial complex can opt for to become exclusive Paridhan franchisee owners.
As per industry trend Indian branded apparel market may reach close to US$ 35 Billion by 2020. The market space is further attracting multi national brands to enter Indian market, such as Kigili and Koton from Turkey. Many European brands such as Poland’s Cool Club to Russia’s leading kids-wear label Acoola wanted to enter India through local partners, as per ET. Similarly Japanese brands such as Mercuryduo, Dazzlin and Emoda are also looking to enter India fashion retail market.
We foresee an exciting times for fashion industry both for franchisee market and retail brands. Brand Paridhan which is among the very few all Indian brands which would compete with Foreign brands in the fashion business. Though brand Paridhan is a first timer in this space, it would be interesting to see the brand exploring the initial brand maturity cycle. With brand India and Make in India push by current government under the leadership of PM Modi, we are sure Paridhan should make a great mark in the space.
Patanjali Textile Division is aggressively building the right infrastructure to support this multi crore textile business. Company is set to encourage small and medium vendors in India to source merchandise. All option of retail would be explored to make the brand a grand success in coming years.
Further enquire in franchise business enquiry brand Paridhan, interested party can write to [email protected] ( source: https://bit.ly/2DcaS95 )