Marketing Plan of an Android App
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Transcript of Marketing Plan of an Android App
Happy WeddingMarketing Plan
EXECUTIVE SUMMARY
India, at the cusp of the digitization era, has over 90% of total internet users’ access to mobile internet. Thus, Smartphones are expected to exhibit a massive 36% compounded annual growth rate in the next 5 years.
But, the wedding industry still needs to revamp itself and inculcate technological innovations to keep in pace with the fast growing world.
Happy Wedding is a simple app that provides a platform to organize a perfect wedding. From managing the budget to booking all the vendors, everything can happen at one place.
This app aims at providing an easy and affordable way to the users to make their wedding day a memorable one without any chaos and confusion.
SITUATION ANALYSIS
Company Overview
Core competencies:One -stop destination for all wedding arrangements for its clients
Reduced time and efforts of customers
Wide range of vendor options depending on location and budget
Efficient cost management
Implementation of Search engine optimization & app store optimization
Strategic assets:Tie ups with online websites like shaadi.com, bharatmatrimony.com, etc
Arrangements with hotels, farmhouses, caterers, photographers, etc
Premium app purchases
Market Overview
India is known for its colorful culture and weddings are the perfect example
Moreover, it is fast becoming a lucrative business opportunity
This industry is flourishing and statistics corroborate the fact
Currently, the industry is over Rs 100,000 crore and is growing at 25-30% annually
Opportunities Untapped market
The marriage market has a huge potential target audience
Lesser competitors
Increasing use of smart phones
ThreatsRelatively new concept may take additional effort and time No benchmarking of parameters Requires huge marketing budget and awareness to create awareness
Target Customers
The target group primarily includes the brides and grooms (age 21 – 40).
Another customer segment is represented by the numerous family members and guests attending weddings, anniversaries, and similar events.
GOAL
Eye on small percentage of total market size to start with (about 3%)
Revenue target of Rs. 5 cr in year one to Rs. 25 cr in 5 years
10,000+ listed vendors
Establish brand equity and customer satisfaction
STRATEGY
Target market
Customer needsChecking the availability, cost, reviews, etc of different wedding venues according to the location and budget set
Finding vendors, contacting and booking them
Performing the tasks on schedule to arrange the perfect wedding
Allocating budget efficiently and smartly
Keeping a track of the payments, advances paid and the dues
Collaborators
Suppliers
Channel members
Communication partners
SuppliersTie ups with various wedding venues like hotels, farmhouses, destination wedding locations etc
Tie up with various vendors
GOALS
These suppliers are the primary source of revenue
They are also an important source of word of mouth publicity and promotion
Channel MembersApp Store or Play Store – the best way to acquire new users, due to the high intent to download due to credibility of Google or Apple Google Adwords – cost effective channel that can create a hype about the app and increase customer base.
GOALS
The goal of these channels is to effectively increase the visibility of the app
These should also generate large amounts of traffic on the app and retain them.
Communication partners Social media - Twitter’s App Cards, Facebook’s App Install Ads, and Pinterest’s App Pins are great way to reach a very targeted audience Blogs and multimedia - Well produced app demos or promotional videos provide best chance of getting content viewed and shared by large audiences
GOALS Effectively target a huge and appropriate consumer base
Fostering brand awareness and helping customers evaluate the brand’s perceived ability to meet a current relevant need
CompanyKey stakeholders include:Customers Suppliers Investors Advertisers and publishers IT department
Points of parityEasy and efficient planning of all the events and tasks of the wedding, vendors, guest list, etc
Proper budget allocation to effectively manage the affairs of the wedding
Points of differenceBooking wedding venues and various vendors for the various events of the wedding
Through a free personalized dashboard couples are served an automatic feed of relevant content, tools and solutions that are based on their stage in the wedding process and tied to their preferences, such as wedding location, style and color.
Technological ContextIndia has a large and growing millennial population – young, tech-savvy consumers with rising earnings potential and disposable income.
With 220mn users, India is now world’s second-biggest smartphone market
By 2017, India will have more than 350 million smartphones.
Socio cultural context Currently, the country has a population of around 1.25 billion and considering an average family with five members, there are around 250million families in India
With about one marriage per family every 20 years, the country averages roughly 10 million marriages every year
Presently, it is a Rs. 100,000 cr industry and is expected to grow 25-30% annually
Value Proposition
Customer ValueFacilitates wedding management-clothes, gifts, venues, food and beverages, etc
Free, simple and customizable checklists to do the tasks on schedule The ‘free’ budget tool to allocate budget efficiently and smartly by receiving suggestions and estimates.
Collaborator valueHuge customer base
Well established app in the market with less competition and growth potential
Extremely agile and user-focused team
Company valueStakeholders: increased profits and return on investment, growth potential, financial stability, association with good brand image
Employees: exposure, flexible and adaptable work environment, performance dependent rewards and opportunities, job security
TACTICS
Product
Free Version The customers will be able to find wedding venues and vendors, contact them and book them. Vendors will be available for the following categories:
Beauty, health and spaFlowers and DecorationEntertainment (DJ)Food and BeveragesGifts and FavorsAttire and AccessoriesPhotography and videoWedding cardsHotel bookingsMiscellaneous
Simple and customizable checklists and the budget tool are also available
Premium VersionPremium’ feature of the app will include the options of booking of destination wedding locations. It will also include services that complement destination weddings such as,
Flight bookings Pick and drop transportation facilitiesStar performances Choreographers
Brand
Name- ‘Happy Wedding’
Tag Line –“Plan your most memorable day with us”
Core brand Values - Variety, ease and efficiency are the main attributes
Price
Identifying the target market segment
Determining pricing objective
Estimating demand
Estimating costs
Analyzing competitor’s costs and prices
Selecting the final price
Pricing process
The suggested price for the premium version of the app is about $51
The customers who opt for the destination weddings will mostly be well off and more affluent ones and therefore, the cost selected is not too high and not too low
The facilities available in this version of the app like star performances are otherwise not easily available, and hence, the cost reflects the tie-up costs with these groups
Incentives
To customers Price reduction – rebates, coupons for dollars or percentage off
Loyalty programs Trade up programs
Free upgrade with purchase
To collaborators Recognition and self-worth
Money has been and continues to be an important motivator for participating in collaboration
To employees Reward
Recognition
Bonus Instead of fixed work timings, flexible environment with daily goals
Communication
Users found online thus, cost-effective methods like Facebook, Twitter and even Pinterest can be used to build followers
Building a website to showcase the app
Starting a blog
Pitching to websites that review apps
Creating a video of how the app works
Gathering potential customer email addresses through non-monetary tie-ups with sites like shaadi.com, etc by providing them incentives like increasing their reach through publicity from the app and its website.
Encourage people to share content on their social media handles and providing them with incentives
Distribution
App Stores/Recommendation Sites -There are a large number of app stores like the Android Market, Nokia’s Ovi Store, Microsoft’s Windows Phone Marketplace and others, plus independent app stores (like GetJar), carrier app stores and more
Specialist Press - Another good way to get the app distributed is having it reviewed the by press, especially those who review apps exclusively
Incentivized CPI -The acquisition of incentivized user downloads (incent traffic) can assist in growing your mobile app installs and top list rankings. One of the most effective methods for boosting install rates over a short period of time
IMPLEMENTATION
Infrastructure
Happy Wedding
Sales and Marketing
Information
TechnologyCommercia
l Vendor Tie-Ups
Finance and
AccountsHuman
Resources
Processes
Scanning the marketing environment, forecasting demand, and conducting marketing research
Creating customer value and customer relationships
Analyzing consumer markets
Identifying market segments and targets
Crafting brand positioning and brand equity
Setting product strategy
Developing pricing strategies and programs
Delivering value
Designing and managing integrated marketing channels
Schedule
Assessing market opportunities & customer value 3 months
Identifying market segments and targets 2 months
Setting product strategy 1 month
Developing pricing strategies 3 weeks
Designing integrated marketing channels 1 month
Managing retailing, wholesaling & logistics 2 months
Created by Urmi Arora, NSIT, during a marketing internship under Prof. Sameer Mathur, IIM Lucknow