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PointFix marketing plan
- 3. Smartphones are the most direct way to reach consumers PointFix is primarily going to be used for socializing It can be used for planning and can impact productivity
- 4. PointFix aims to become a powerful social media trend and one of the most downloaded apps
- 5. Create awareness of their product and service Develop, establish and evolve the right marketing mix essential to excel beyond competitors and achieve goal
- 6. Company Overview • Technical skills and expertise • Perseverance • Focus • Innovation • Flexibility • Integrity and trust • Customer service and support
- 7. Market Overview Potential consumers comprise of all smartphones users and internet users
- 8. Market Overview Allows users to share their locations within their social network Biggest competitor
- 9. Collaborators Single app developers, app development companies, distribution channels, marketing firms, consultancy firms and law firms Market Overview
- 10. Market Overview Opportunities • Add sources of revenue • Very few competitors • Latest social media platform and trend • Increasing number of internet and smartphone users
- 11. Market Overview Threats • Privacy issues • Weak business model • Negative perception/feedback • Not enough consumer engagement
- 12. Target Market Children, teens and young adults in the student/work phase of life belonging to any socio – economic class, race, culture and gender possessing a smartphone/Interne t access
- 13. GOALS Become a social media trend and one of the most downloaded social media apps Amass 50 million users within 4 years after launch Start generating revenue via various streams, latest by 4 years after launch
- 14. Social needs such as socializing over chat Facilitating physical socializing Location specific information about places, organizations, establishments, events, experiences and people. Planning for future and upcoming activities and hence impact productivity Strategy
- 15. Strategy Collaborators Google, Microsoft and Apple app stores and recommendation websites as distribution channels
- 16. Strategy PointFix is a startup. It is independent of any mother corporation, in other words, it’s a single standalone business unit Employees, interns, volunteers and contractors constitute the personnel Investors, employees, businesses, customers and community are the key stakeholders
- 17. Strategy Foursquare is a local search- and-discovery service. The app provides personalized recommendations of places to go to near a user's current location based on users' "previous browsing history, purchases, or check-in history”
- 18. Strategy Swarm allows users to check-in to a given location as well as make future plans with friends and see who is nearby. Splitting check-ins and general location sharing in to the separate Swarm app was designed to let the main Foursquare app focus on exploring and discovering information on locations.
- 19. Strategy Global economy is in stagnation, whereas developing economies have promise to grow but face tougher conditions
- 20. Strategy Technology is advancing at an unimaginable pace and breakthroughs are achieved on a daily basis
- 21. Strategy Almost ever market has adopted smartphones and sociocultural factors only marginally affect smartphone usage
- 22. • Location detection (Pinpoint and/or area/region) and sharing • Exchange messages, photos and videos with friends and public profiles • Activity planner and scheduling • Events, experiences, organizations, establishments, places, properties search and recommendation • Location History • Ratings and feedbacks Strategy Customer Value
- 23. Positioning Strategy • Very versatile due to plethora of diverse features • Highly flexible as several combinations of settings Strategy Customer Value Positioning Statement PointFix provides smartphone users with a means to socialize, plan and search & recommend services by using the location of the user
- 24. • Activity planner and scheduling • Events, experiences, organizations, establishments, places, properties search and recommendation • Location History • Ratings and feedbacks Strategy Company Value
- 25. Positioning Strategy • Creates brand awareness and brand equity • Gather essential consumer insights on brands Strategy Company Value Positioning Statement PointFix provides organizations, services, places and people with a platform for exposure to users.
- 26. Tactics Service • User friendly and simple interface • Combination of a multitude of functions • Flexibility • Socializing • Planning • Relive through playback • Activity search and sggestions
- 27. • App and website development cost • Server costs • Rent and utilities • Equipment and supplies • Insurance • Payroll • Research • Marketing • Legal • Consulting • Miscellaneous Tactics Service
- 29. Tactics Price and incentives Free of cost for the customers as well as the channel members Customer incentives include discounts on products/services being purchased through the app Employees receive bonuses if target are achieved before projection
- 30. • A website that provides the overview as well as the services of the app • Generate chatter using blogs and online forums • Create pages on social media like facebook, twitter and pinterest • Conduct contests to increase awareness • Paid marketing Tactics Communication
- 31. • Google play store • iOS app store • Windows store • Web browsers • Pre loading • Mobile version of app Tactics Distribution
- 32. Infrastructure • No outsourcing of core product development or have consulting firms build it to speed up time-to-market • No hiring too many business people until product is complete and early product/market fit tested • VP of Finance can be leveraged well to take on finance, legal, HR and much of the operational tasks • Resist the temptation to build a group of “C Level” execs in the early stage • Hire admin / office management after raising a reasonable size VC round • After product has been developed and a sizable funding has been received, the structure can be changed to a more traditional one
- 34. Develop Business Plan Funding Product Development Process Human Resources Marketing Communication Service Distribution Revenue Generation Customer Service And Support Operations Business Processes
- 35. Schedule Process Start Date Tentative End Date Remarks Develop Business Plan 1st March 2017 31th March 2017 3 year business plan Funding 1st April 2017 - Get funding as early as possible Research and development of product 1st April 2017 31st July 2017 4 months to create prototype, test, fine tune and then launch Marketing and distribution 1st August 2017 - Continuous process Revenue generation As soon as viable - Goal is to generate revenue latest by 31st July 2021 Product life cycle 1st April 2017 - Update product when required
- 36. Disclaimer Created by Udaibir Singh Sandhu, MIT Manipal, during a marketing internship under Professor Sameer Mathur, IIM Lucknow