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Marketing plan for a new app
- 1. Marketing Plan for a new App The LookBook
- 2. Executive Summary • E-commerce Beauty App • Unique and different features • Focus on introducing different looks with the best of all range of products and creating a portal to buy the same products
- 3. • A One-Stop Shop for buying the cosmetics and getting tips on which ones to buy based on the look you want for the event. • Personalising the app for it’s premium versions
- 4. Tentative Action Plan • Expose the targeted customer to the App and convincing the customers of it’s usability and uniqueness. • Construct the marketing and sales channels and reaching out to maximum number of dealers.
- 5. Situation • Company Overview • Market Overview • Target Customers
- 7. Core Competancies • A fresh outlook on Beauty apps • Better technology and better services • Capitalizing on being a One-Stop shop for all cosmetics
- 8. Assets • A skilled team of Make-up artists to curate the looks • A good social media reach and appeal to the young women • A unique app in it’s space and combining the best of the rivals
- 10. Market Overview
- 11. Customers • Women and Teenagers • Age Group-15 to 35 • Having a disposable amount of money with them • Hip and Young crowd concerned with how they look
- 12. Competitors
- 13. Collaborators • Courier service • Venture Capitalists • Payment Gateway • Beauty experts • Cosmetics Companies
- 14. Opportunities • Expansion into other product lines in the future, including hair products, moisturisers etc. • Further expansion into producing our own cosmetics line is also possible
- 15. Threats • Larger companies should continue to offer their products on the app.A prerequisite of that is high sales • Collaborators can back out any time. • The profit margin on each product may get reduced and lead to a decrease in the discounts.
- 16. Goal •Revenue to be reached within a year:10 crore rupees •Net income: 70 Lakh rupees
- 17. Performance Benchmarks • Sales per month through the app • Number of times the app was installed • Number of times the app was surfed
- 19. Customers • Needs fulfilled 1. One Stop shop for cosmetics. 2. Tips on how best to use those cosmetics together 3. Entertainment value because of celebrity interaction
- 20. Profile • Targeted Age group-15 to 35 years • Good buying capacity • Concerned about being fashionable
- 23. Company • Strategic Business unit • Developers • Marketing Committee • Sales Committee • HR • Negotiation team • Relationship Managers
- 24. Key stakeholders • Manufacturing companies • Dealers • Courier services • Venture Capitalist
- 25. Competitors •Points of Parity 1. E-commerce site selling cosmetics 2. Different celebrity looks are made available
- 26. • Points of Difference 1. All the cosmetics at one place with tips on how to get the look 2. Celebrity interaction making it entertaining 3. Premium version of the app making the app personalised
- 27. Context • A high number of people being concerned about how they look and have the disposable income to buy the cosmetics • Almost everyone today has a smartphone • Important that the app connects to the user in “ME” time
- 29. Customer Value • Provides cosmetics at a lower rate than retailers • Providing a One Stop Shop for buying cosmetics • Helping in making a decision which one to buy • Connects in the “ME” time and provides entertainment • Celebrity Beauty tips
- 30. Brand Positioning • Young and Hip • Easy to use • Personal connections made by the brand with unique gifting policy
- 31. A One-Stop Shop to buy the look you want for the Day Brand Statement
- 32. Tactics
- 33. Product/Service Offered • E-commerce portal to buy cosmetics • A guidebook on which cosmetics to buy • Personalisation of the app for Premium versions
- 34. Brand The LOOKBOOK One-Stop Shop for all your looks
- 35. Price • Regular discounts for customers and prices lower than retail prices • 10% of the sale is earned by the app • Out of that 10%, 30% goes to delivery/courier services and payment gateways
- 36. Incentives • Customer-Lower Cost than Retailer • Collaborator-Good margin in profits and Dealers reach more people • Company personnel-Regular bonuses on giving innovative ideas for growth
- 37. Communication • Customer-Social media, yearly sponsored events • Collaborators-Relationship Managers • Stakeholders-Executives will hold meetings with the VC • Company personnel-Weekly analysis meetings at all levels
- 38. Implementation
- 40. Processes • Wooing the customers 1. A points system is put into place 2. Customer acquires certain number of points for recommending the app to a woman 3. According to the number of points acquired, a gift is given by the end of the year.
- 41. • Providing cosmetics at a lower price 1. Sales and discounts every month 2. Keeping a comfortable profit margin and a substantial discount than the retailers
- 42. • Creating the hype 1. Promoting the app at popular events and on social media 2. Choosing appropriate brand ambassadors for interaction on app 3. Connecting to the customer emotionally
- 43. • Maintaining collaborator relationships 1. Finding the right brokers 2. Having a strong Negotiation team 3. Partnering with a good Delivery/Courier service
- 44. Schedule • Free version of the app will be introduced first. • After revenues reach 5 crore, the premium version will be launched. • Events have to be conducted after every 6 months
- 45. Performance Evaluation • Criteria 1. Sales per month 2. No. of times the app was downloaded 3. No. of times the app was used 4. How many dealers went through rival apps 5. How many times rival apps were used
- 46. This presentation was created by Sukkhada Joshii during a marketing internship under Prof. Sameer Mathur Thank You!