Jalandhar: In addition to imparting “Case Study” approach to its business students, LPU has come forward with novel idea to teach them “management fundamentals” through real experiences and projects. Under this thought & after a lot of brain-storming, University and students from its School of Business started a unique entrepreneurial project “Lavish Card”. The idea was to provide access to these Card-holders to premium brands both inside and outside of the campus, at reasonable price. For this, various teams of MBA & BBA students were formed to conceptualize operations, bring various brands under single umbrella, pricing and marketing strategies. After this whole, the ‘Card’ is launched within the campus at nominal price of Rs 199. In turn, the ‘Card’ subscribers will have attractive offers worth Rs 15,000 from 15 brands on purchases made.
All the brands included are of students’ interest like Hardy’s World, Fitness Edge etc. In fact, this project will provide practical exposure to business students towards conceiving business ideas, tie-ups, and to sell products in the markets. University’s School of Business is incubating various students’ ideas to launch their entrepreneurial projects, and to make business education more practical oriented.
While Launching ‘Lavish Card’, LPU Pro Chancellor Ms Rashmi Mittal congratulated faculty for conceiving and bringing forth this unique idea. Explaining about the project, Ms Mittal informed: “This activity will help students in learning how to make identification of needs & how to understand different customer segments. As such students will also get prepared for running a business. In the next edition of Lavish Card, many other big brands will also be included.” She also desired that the students should pitch this project by adopting all ethical practices to make it a mega hit.
A student of BBA Sambhav Suri said: “This project is assigned to me for my cumulative assessment towards my study program. Promotion of this card is indeed going to help me greatly towards my communication skills, marketing and contact-making steps. I will also learn how to enter marketing segments and how to create rapport with possible customers.”