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VIRTUAL WALLET
Kartheek Golla
Touch to pay, store, eat, shop.
Preaperd
By
Executive Summary
Virtual Wallet started by offering mobile recharge and utility bill payments and storing ID proofs.
Today it offers a full marketplace to consumers on its mobile apps and emerged to be among the Top e-commerce Businesses.
As simple as it is! To keep things at ease, you can also use Virtual Wallet to pay the amount.
The world is increasingly mobile: people want access from wherever they are, whenever they need it.
Overview
Everyone has a distinctive taste of his own
and Virtual Wallet offers what consumers
exactly need.
You can have what you need with just a few
clicks.
Be it Mobile Recharges, home & Kitchen
Appliances , Landline Bill Payments, clothes,
shoes &Accessories Recharge, mobiles, Data
Card bill Payments, computers, DTH
Recharge, cameras.
Mission
Happy to help, 24x7
100% Assurance At Virtual wallet.
If you have any issue, your money is
immediately refunded. Sit back and enjoy your
shopping.
Virtual Wallet Trust Your money is yours! All
refunds come with no question asked
guarantee.
Virtual Wallet Promise Happiness is
guaranteed.
If we fall short of your expectations, give us a
shout.
Market Description
Market includes all the internet users and
smart phone users.
Keeping in mind the mobile world, Virtual
Wallet Mobile App is compatible with all
possible platforms including Android, BBM,
IOS and Windows.
Product Review
Based on the Customers reviews and ratings
we can understand the contribution of mobile
recharges in Virtual Wallet's income.
How does the app work?
The app takes simple inputs from the user
such as the favorite club of the user, the
favorite player of the user etc.
It then uses different APIs such as Facebook,
Twitter, Instagram to customize your app
experience and include the player’s and
team’s data.
Situational Analysis
Overview of company and target consumersMarket overview.
Competition
Its major competitors are Freecharge,
chargeitnow, snapdeal, flipkart, Amazon,
Jabong, ebay...Vitual Wallet is better than than
it's competitors as it is a combined version of
major competitors.
Virtual Wallet= (Rta m-
wallet)+(Freecharge)+(Flipkart)+...
Company Overview
Core Competencies:
Virtual Wallet destination for all wallet related
activities
Increases attachment towards a virtual wallet.
Wide range of options to customize your feed
according to your purchase preference
Strategic Assets
In app purchases
Freemium model
In-app advertisements
Communication partners
SWOT Analysis
Strengths:
Virtual Wallet provides excellent and
unbelievable offers.
People are getting addicted to this app for
recharging their mobile with different schemes.
It provides better schemes than other apps
and are valid for wallet balance also.
It is a quick stop for recharge.
It is easy and reliable.
Shopping with Virtual Wallet is as easy as pie.
Weakness
Virtual Wallet has grown into something that
offers a lot of functionalities in areas other than
its chief purpose i.e., RECHARGES.
This makes the app bulky and takes up lot of
space.
Processing takes time and finally fails to
recharge.
No replies on mails from customers.
Huge traffic during festive seasons when new
offers are introduced.
Opportunities
Online Shopping has seen anexponential
growth in the recent years.
Virtual Wallet has taken this as an opportuinity
and entered the world of online shopping with
top brands across all verticals.
You can literally buy anything in the
wonderland of Virtual Wallet.
Threats
Since Virtual Wallet is a mobile commerce,
obviously it requires smart phone users.
So smart phone penetrations, mobile internet
access penetration are required.
No benchmarking of parameters.
Target Markets
The target group primarily involves every
person using phone with internet.
Another customer segment is the betting
customers who wants cashback offers for
every close aspect.
Strategy
Our strategy is to target more key consumers
by providing them more cash back offers
individually.
To replace wallet completely by making
relation with government of india for id cards.
Customer Acquisition
Discounts (50% off, Buy 1 get 1 free, Rs.150 off
etc)
Cash back (If you pay Rs.1000, if a cashback of
10% is applicable, then Rs.100 will be given
back to you)
Reward points
Referral offers
Lucky draws
Coupons (Using Coupon codes will give you
discounts)
Vouchers
Value Proposition
Customer Value: Personal, virtual, 24/7
customer service will give a lot of information
to the customer.
Collaborator value: Successfully competing
with other major players in the industry.
Company Value: Positive work environment,
good pay, growth potential, opportunity to
pursue interests.
Tactics
Product
The free version of the app will have the
following features:
Monthly Payment up to Rs20000
Cashback offers
Login not required to do immediate
transactions.
Can hold only 1000 digital visiting cards.
Premium version
The premium version of the app will have the
following features:
Personalized rewards
Contests
Transaction groups and discussion forums
Exclusive Immediate Cash Backs
Storage of all ID proofs of family in wallet
NO limit for Cash Transfer
Brand
Name: Virtual Wallet
Tag line: Phone is enough to pay, store, eat,
shop.
Core brand values: Quality, Variety, Innovation,
Ease and Efficiency
What makes us
different?
What will be get through Virtual
Wallet.
Giving Special offers on Consumers Birthdays.
Team headed by Chief Marketing Officer
(CMO)should maintain a Virtual Wallet
Customer Database containing their Birthdays
so that they can inform the customer about
their offers a week prior to their birthday.
Price
Free version of the app will generate traffic
and attract new users
The premium version of the app will be priced
at $0.99 which is quite affordable.
Communication
Discussion forums
Fan clubs
Company website
Social media
Google ads
Print media
Distribution
Google Play Store
Amazon App Store
Company Website
Recommended Websites
Implementation
Hire app developers and brief them about the
design
Search for potential investors to financially aid
us
Prepare the print and video advertisement
Thank You!