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FunCab android app
- 1. Marketing Plan fora new to the world app
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- 4. FunCab is aplatform where one can learn vocabulary in an effective manner such that all the words one comes across get permanently embedded in the memory
- 5. Learning is basedon the fact that it becomes very easy to learn new words if one is able to relate it some visual, article, incidence or a phrase etc Example: The word ‘Assiduous’ can be learnt by the fact that it is made of the phrase “Ass” which means a Donkey, We also know that it is a hardworking animal. Therefore the meaning of the word ‘Assiduous’ is Hardworking
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- 7. Number Game (India) 150million student population (aged 18 - 24) 10% of which have access to education (= 15 million) Out of which 11 million have enrolled into colleges Of which 70% of them have smartphone Therefore 7.7 million student population becomes our target
- 8. Advantages of goodvocabulary - 1. To score high in entrance exams 2. To comprehend what you read 3. To be able to write well 4. To persuade others 5. To increase level of confidence
- 9. The researcher JohnsonO’Connor, known for his studies about the impact of vocabulary on people’s lives, has drawn many amazing conclusions from a vast amount of tests and experiments, performed in more than 20 years of research. This data shows that if one is aiming for the top jobs then he or she must be fluent with english
- 10. There are hundredsof app aiming to enhance one’s vocabulary Out of these apps only few are actually useful like VoLT, Vocabulary Builder, vocabulary.com, Painless GRE etc Only the app VoLT is close to this idea i.e learning vocabulary through visuals and phrases but still it has no provision for tests, videos, articles etc - Point of Differences Competitors
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- 13. Performance will dependon 3 factors 1. No. of registered users 2. Conversion ratio 3. Consumers’ review on Play store, Quora, Facebook etc
- 14. No. of registeredusers The basic parameter will be how many downloads the app gets in the first few months it launches. The time take to have 1 Million users will serve as a measure of how successful the business model has been
- 15. Conversion Ratio The fractionof free users who turned to subscription is also an important measure. We shall aim for a subscription ratio of 5%
- 16. Consumers’ Review Good wayof knowing about loopholes in your app and also response of users
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- 18. 5 C’s ofTarget Market
- 19. 1. Consumers • Studentsaged 18 - 24 years • Are most likely to focus on improving vocabulary • In order to target competitive exams, interviews, placement etc
- 20. 2. Collaborators • AppDeveloper (to build a user friendly app) • Shutterstock (for visuals) • Colleges and Universities societies and professors (for spreading awareness among students) • Coaching Institutes (for spreading awareness among students)
- 21. 3. Company My friendswho are willing to invest in the App will be the stakeholders Also some of the entrepreneurs who are interested to invest, will be our stakeholders
- 22. 4. Competitors Following appsavailable on Android Play store are potential competitors :- VoLT- This app is our closest competitor in terms of the method it uses to enhance one’s vocabulary Others include Vocabulary Builder, vocabulary.com, Painless GRE etc - but these apps doesn’t make use of visuals or videos but rely mostly on test and quizzes.
- 23. 5. Context The appwill be developed within a budget corresponding to the investment obtained As students are tech savvy, the app will be designed such that its UI is easy to comprehend and interesting to work There will be a provision of video download so that one can learn offline also The app will effectively alleviate fear of vocabulary especially among the engineering students
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- 26. User friendly interface BeautifulVisuals HD Videos Easy to understand phrases Use of current articles of the newspaper Quizzes and Tests Bookmark option
- 27. Fun Vocabulary “Now learningvocabulary a fun”
- 28. App will befree for 100 words (ads) Subscription for 500 words will cost Rs 11(ads) Subscription for 1000 words will cost Rs 21(ads) Complete subscription will cost Rs 49(no ads) On referring the app to other, one will get free subscription for 500 words
- 29. Since our appis targeting the tech savvy youth section, it would not depend much on traditional forms of advertisement. Advertising can be done extensively through the following channels - 1. Social media 2. In person interaction with faculty and students of top Universities, Colleges and Coaching Institutes through some workshop or PR desk 3. Website advertisements
- 30. The App willbe available on Google Play
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- 32. Administration & Financing Team Thisis the core team that administers the entire operations and accounts. It heads all other teams and is responsible for growth and progress of the company. It has to set targets and assign work to all other teams
- 33. Design and TechnicalTeam The team will design (logo, User Interface) and develop the app
- 34. Marketing Team This teamwill be responsible for building a relationship with the customers by building a brand image through different communication channels. The brand positioning of the company is dependent on the efficiency of this team
- 35. Market Research 2months Designing and Building App 4 months Product and Pricing Strategy 1 month Then the App will be launched and communication will go parallel
- 37. DISCLAIMER Created by AdityaTodi, DTU, during a marketing internship by Prof. Sameer Mathur, IIM Lucknow. (See www.IIMInternship.com)