BUSINESS  REPORT  

TEAM  MEMBERS  

Ê CANDY  WILLEMS  Ê Head  of  design  

Ê OLI  GOTS  Ê Head  of  marketing  &  Publicity  

Ê SIGRI  SEVALDSEN  Ê Key  account  manager  

Description  of  Company’s  Product/Service  

Ê  We  wanted  to  create  a  ‘tool’,  which  would  introduce  people  to  their  area,  in  a  fun,  interactive  way  and  would  be  an  alternative  to  the  ever-­‐growing  online  resources.  

Ê  The  result  was  a  stack  of  pocket-­‐sized,  detachable  cards,  providing  assorted  content.  

Ê  Three  main  types  of  competition  were  identified:    Ê  guide-­‐magazines  (e.g.  Time  Out)  

Ê  flyer  packs  (e.g.  Don’t  Panic)  Ê  discount  providers  (e.g.  KGB  Deals,  Groupon)    

What  made  WHATIF  unique  compared  to  its  competitors?  

Ê WHATIF  differentiates  in  the  following:  Ê  Price  –  WHATIF  is  free,  distributed  around  the  area’s  cafes,  

galleries,  shops,  etc.  

Ê  Size  &  format;  Personalization  –  a  business  card  size,  makes  it  handy  to  carry  around  –  it  fits  even  in  your  pocket  or  purse;  detachable  cards  allow  selectivity  and  customization      

Ê  Availability/convenience  –  always  available,  as  it  is  a  printed,  tangible  product;  there  is  no  dependence  on  Internet  connection,  yet  as  free  &  accessible  as  your  average  online  app.    

Our  customer  segment  and  how  we  researched  their  needs.    

Ê  Multi-­‐sided  platform  Ê  Customer  segment  A  -­‐  busy  people,  who  like  to  try,  discover  

and    experiment    Ê  Value  proposition:  Design  -­‐  Personalization  -­‐    Availability  

Ê  Customer  segment  B  -­‐  local  businesseswho  can  use  the  ‘cardmag’  to  advertise  their  services    Ê  Value  proposition:  format  of  the  advertising  tool  -­‐  strategy  -­‐  

multiple  options    

Ê  Market  Research  :    Ê  Taking  the  prototype  around  London    

Our  key  activities,  partners  and  resources  

Ê  Key  resource  is  any  printed  version  of  the  ‘cardmag’  (tangible)  and  team  members’  expertise  (IP).    Ê  A  ‘cardmag’  could  be  used  in  two  ways:    

Ê  Informative  Ê  Promotional/Marketing  tool  

Ê  Key  partners  :  KSL  and  local  businesses      

Ê  Key  activities:  Ê  Production  &  maintenance  of    ‘cardmags’    Ê  Offering  team  expertise  &  ‘cardmags’  as  promotional/marketing  

tools  for  other  businesses  Ê  Promoting  our  product  to  new  users,  content  owners  and  

advertisers  

Our  Branding  and  design  strategy  

•  simplicity  is  the  sophistication  

•  LOGO:  fun  &  memorable  orange  and  bold  &  easy  to  read  black.    

•  THE  NAME:  great  branding  potential  through  inquisitive  questioning  

•  CARDMAG:  Unusual  format  and  bright  coloring  are  set  to  attract  attention.    

•  Individualization  &  customization  as  part  of  branding  strategy    

•  Weaknesses  :  Printing  

Company  policies,  IP  and  other  legal  consideration    

Ê  The  product  is  prone  to  ‘copycats’:    

Ê  Our  strategy:    Ê  strong  design,  Ê   valuable  partners    Ê  well-­‐planned  distribution    

Ê  branding  

Ê  Contract  for  advertisers  

Profit  &  Loss  statement  

EXPENSES      

INCOME     EXPECTED  EXPENSES    

EXPECTED  REVENUE    

START-­‐UP  COSTS  

£   £    

KSL:  1000  Cardmag  

£    

£    

Website   36.18   Printing   310.00   KSL   1000  

Registration   100.00   Rings   84.80  

PROTOTYPE   10.00  

KU  FAIR   43.00   KU  FAIR   19.00  

TOTAL   189.18   19.00   394.80  

PROFIT   432.22  

Retrospective  &  Evaluation  

Challenges  

Ê   size,  price  and  content  of  the  magazine.    

Ê  Identify  competitive  advantage    

Ê  limit  of  resources    

Ê  Solutions:  Ê  market  research  and  

mentoring  Ê  Keeping  the  product  simple  

What  would  we  have  done  differently?  

Ê  More  doing,  less  talking  

Ê  Earlier  team  role  definition  

Ê  Less  incubation  stage  

Ê  Better  time  management  

CONCLUSION  

Success  

Ê  Good  feedback  about  the  product  

Ê  Public  engagement  

Ê  Partnership  with  KSL  for  Live  Nation  

What  did  we  learn  

?