Introduction: Bamboo is a versatile green material that is fast-growing, lightweight, strong, and environmentally friendly. It has various applications, including building, clothing, food, and fuel. India has 136 species of bamboo, and some companies, including Kerala State Bamboo Corporation, Mutha Industries Beco, The Bamboo Bae, Codesustain, and Madake, produce high-quality bamboo goods.
Problem Statement: This project aims to improve customer retention and lifetime value on subscription-based models for bamboo items. We conducted a survey to understand the market scenario of items made of bamboo and user opinions on them to develop an effective strategy. The project addresses technology-related, transformation-related, financial and marketing-related, production system-based, and manufacturing-related problems.
Overview of the Thesis: This project aims to study the motives and barriers of subscription-based models for bamboo-based products, bamboo products, and their pricing, and how subscription-based business models can improve their retention and customers' lifetime value. We offer solutions to boost subscription model retention rates and overall performance in areas including communication, customer relationship management, product development, and organizational strategy.
Barriers: We have classified barriers into six categories, including Technology, Transformation, Financial & Marketing Barrier, Production System Barrier, Manufacturing, and Policy-related Barrier. We discuss the theoretical and practical studies on bamboo materials confronted with these barriers in the l iterature survey.
Conclusion: This project provides valuable insights into the subscription-based model for bamboo-based products, their pricing, customer retention, and lifetime value. We hope that our recommendations will help businesses enhance their customer-centric tactics and improve their retention, churn, and customer lifetime value.