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YourBestPrice

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A Marketing Plan for an android application called "YourBestPrice"

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YourBestPrice

  1. 1. MARKETING PLAN YourBestPrice
  2. 2. • The number of users of e- commerce websites has increased at a staggering rate throughout the years. • $12.91 billion worth of sales in 2015 and an estimated $20.01 billion worth of sales in 2017 in India alone has made e-commerce one of the most successful business.
  3. 3. • With the increasing sales online a number of e- commerce websites have launched in India. • An estimate puts the number of websites to be over 400 in India.
  4. 4. • The wide range of price offered for the same product has made online shopping tedious and boring. • It is usually a one person activity as compared to shopping in stores which is a social activity.
  5. 5. Introducing “YourBestPrice”. This app is a central location for all shopping needs. It gives you the best price available online Allows you to search for items using photos Lets users interact with their friends and family to get them involved in shopping.
  6. 6. 1. EXECUTIVE SUMMARY 2. SITUATION ANALYSIS 3. GOAL 4. STRATEGY 5. TACTICS 6. IMPLEMENTATION
  7. 7. EXECUTIVE SUMMARY
  8. 8. CORE COMPETENCIES • Highly Experienced Android Developers • Marketing Specialists • Knowledge of Aggregation. • Good Mentors
  9. 9. • Search Engine designed to search products through images. • Database of products on various websites. • Chatting feature of the application • Servers used for processing STRATEGIC ASSETS
  10. 10. • The number of e-commerce website have increased over the years offering different prices for the same product. Over 100 websites are aimed only for fashion items. • Over 81% of consumers research before buying a product online. With the number of websites available the job has become tedious and time consuming. TARGET MARKET
  11. 11. Our goal is to decrease the time a user has to spend in visiting various sites and make the online shopping experience fun and inviting. Our goal is also to make online shopping more interactive and social. Using the chat feature users can involve friends and family in their decision. GOALS
  12. 12. COURSE OF ACTION
  13. 13. SITUATION ANALYSIS 1. COMPANY OVERVIEW 2. MARKET OVERVIEW
  14. 14. COMPANY OVERVIEW The Team: • 10 Android developers • 3 Management heads: CEO, CFO, CTO • 2 person marketing team.
  15. 15. • Research shows that the consumers under the age of 35 make up more than 75% of all purchase online. • In this segment the age group of 18-35 does the most research before buying a product. TARGET MARKET
  16. 16. COMPETITORS Voodoo MySmartPrice Price Dekho
  17. 17. ECONOMIC CONTEXT • India's e-Commerce revenue is expected to jump from $30 billion in 2016 to $120 billion in 2020. • Growing at an annual rate of 51%, the highest in the world. TECHNOLOGICAL CONTEXT • Reduced cost of broadband service. • Introduction of faster 4G networks. • Overall increase in use of online product and services.
  18. 18. GOALS
  19. 19. EXPENDITURE • The total expenditure of building the app will be around 50 lakhs a year • The CEO, CFO and COO will not take salary until the company turns a profit • Infrastructure costs will also be around 20 lakh a year.
  20. 20. GOAL • The overall aim of the company is to maximize the net income of the company . • The aim for the first year would be to break even. • After the first year a profit margin of 20% would be the aim of the company.
  21. 21. STRATEGY
  22. 22. TARGET CUSTOMER The target market of the app would be consumer under the age of 35 as they • Are the major users of e- commerce apps and websites. • Conduct research before buying a product online • Most active on social media and chat applications like WhatsApp and Messenger.
  23. 23. COLLABORATORS Collaborators of the app will be: • Chat application companies like WhatsApp, Hike • Funding Agencies • Venture Capitalists • Amazon Web Services
  24. 24. POINTS OF PARITY • Offers various options available for a product • Offers search by category • Allows tracking of products • Alerts users of latest deals and offers COMPETITORS
  25. 25. POINTS OF DIFFERENCE • Allows search using photos • Allows the user to share photos online • Allows users to chat and share with peers to include them in the purchase decision. COMPETITORS
  26. 26. CUSTOMER VALUE The application will save the time and effort of a consumer and allow them to make online shopping more relaxing and fun. COMPANY VALUE The company wants to keep its employees motivated and satisfied by providing a good working environment with good salary and benefits. Timely promotions and increase in salary will be given to show COLLABORATOR VALUE The application will give the collaborators access to consumers that were not using their services. This will allow them to make services that will appeal to this market. VALUE
  27. 27. TACTICS
  28. 28. PRODUCT FREE VERSION • User can search for products through text and photos. • Allows users to place order • Allows users to chat and share with peers. PREMIUM VERSION • Makes a personal profile of the user • Alerts users about the latest offers on products they searched for • Removes Advertisements
  29. 29. SERVICE The application offers Business to Consumer type of service. It allows users to access the database of various e-commerse websites and choose the best option It allows users to use the services offered by the business such as delivery and return service.
  30. 30. BRAND BRAND NAME: YourBestPrice Brand Slogan: Shop Right Brand Attributes: Consistency , Appealing ,Relevant.
  31. 31. PRICE Rs. 100/month • The app is priced so after looking at competitors online • The price is also high enough to keep the number of premium users low • Low premium customers increases the reach of customers who get advertisements and increase the advertisements rates.
  32. 32. • Cashback offers • Customer Loyalty Points • Unexpected discounts • Easy to use • Saves time and effort.
  33. 33. • Through social media sites like Facebook, Twitter, Instagram • Blogging site like Reddit • WORD OF MOUTH
  34. 34. DISTRIBUTION
  35. 35. IMPLEMENTATION
  36. 36. INFRASTUCTURE
  37. 37. PROCESSES 1. PLANNING PHASE 2. IMPLEMENTATION PHASE 3. EVALUATION PHASE
  38. 38. PLANNING PHASE COMPONENTS OF THIS PHASE • SWOT Analysis • Marketing Program • Set Marketing and Product Goals • Market-Product focus and Goal Setting
  39. 39. IMPLEMENTATION PHASE COMPONENTS OF THIS PHASE • Obtaining Resources • Designing marketing organization • Developing planning schedules • Executing the marketing plan
  40. 40. EVALUATION PHASE • Ensuring that the results of the program are in line with the goals set • Observe any deviations in the plan and quickly correct negative deviations to get back on course • Exploit the positive divergences
  41. 41. SCHEDULE PLANNING PHASE 7 MONTHS IMPLEMENTATION PHASE 5 MONTHS EVALUTION PHASE CONTINUOUS
  42. 42. THANK YOU

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