MARKETING PLAN

YourBestPrice

• The number of users of e-commerce websites has increased at a staggering rate throughout the years.

• $12.91 billion worth of sales in 2015 and an estimated $20.01 billion worth of sales in 2017 in India alone has made e-commerce one of the most successful business.

• With the increasing sales online a number of e-commerce websites have launched in India.

• An estimate puts the number of websites to be over 400 in India.

• The wide range of price offered for the same product has made online shopping tedious and boring.

• It is usually a one person activity as compared to shopping in stores which is a social activity.

Introducing “YourBestPrice”.

This app is a central location for all shopping needs. It gives you the best price available online

Allows you to search for items using photos

Lets users interact with their friends and family to get them involved in shopping.

1. EXECUTIVE SUMMARY

2. SITUATION ANALYSIS

3. GOAL

4. STRATEGY

5. TACTICS

6. IMPLEMENTATION

EXECUTIVE SUMMARY

CORE COMPETENCIES

• Highly Experienced Android Developers

• Marketing Specialists

• Knowledge of Aggregation.

• Good Mentors

• Search Engine designed to search products through images.

• Database of products on various websites.

• Chatting feature of the application

• Servers used for processing

STRATEGIC ASSETS

• The number of e-commerce website have increased over the years offering different prices for the same product. Over 100 websites are aimed only for fashion items.

• Over 81% of consumers research before buying a product online. With the number of websites available the job has become tedious and time consuming.

TARGET MARKET

Our goal is to decrease the time a user has to spend in visiting various sites and make the online shopping experience fun and inviting.

Our goal is also to make online shopping more interactive and social. Using the chat feature users can involve friends and family in their decision.

GOALS

COURSE OF ACTION

Market Research

App Design Launch Promotio

nGenerate Revenue

SITUATION ANALYSIS

1. COMPANY OVERVIEW

2. MARKET OVERVIEW

COMPANY OVERVIEW

The Team:

• 10 Android developers

• 3 Management heads: CEO, CFO, CTO

• 2 person marketing team.

• Research shows that the consumers under the age of 35 make up more than 75% of all purchase online.

• In this segment the age group of 18-35 does the most research before buying a product.

TARGET MARKET

COMPETITORS

VoodooMySmartPrice

Price Dekho

ECONOMIC CONTEXT• India's e-Commerce

revenue is expected to jump from $30 billion in 2016 to $120 billion in 2020.

• Growing at an annual rate of 51%, the highest in the world.

TECHNOLOGICAL CONTEXT• Reduced cost of broadband

service.

• Introduction of faster 4G networks.

• Overall increase in use of online product and services.

GOALS

EXPENDITURE• The total expenditure of

building the app will be around 50 lakhs a year

• The CEO, CFO and COO will not take salary until the company turns a profit

• Infrastructure costs will also be around 20 lakh a year.

GOAL• The overall aim of the

company is to maximize the net income of the company .

• The aim for the first year would be to break even.

• After the first year a profit margin of 20% would be the aim of the company.

STRATEGY

TARGET CUSTOMER

The target market of the app would be consumer under the age of 35 as they

• Are the major users of e-commerce apps and websites.

• Conduct research before buying a product online

• Most active on social media and chat applications like WhatsApp and Messenger.

COLLABORATORS

Collaborators of the app will be:• Chat application

companies like WhatsApp, Hike

• Funding Agencies

• Venture Capitalists

• Amazon Web Services

POINTS OF PARITY

• Offers various options available for a product

• Offers search by category

• Allows tracking of products

• Alerts users of latest deals and offers

COMPETITORS

POINTS OF DIFFERENCE

• Allows search using photos

• Allows the user to share photos online

• Allows users to chat and share with peers to include them in the purchase decision.

COMPETITORS

CUSTOMER VALUE

The application will save the time and effort of a consumer and allow them to make online shopping more relaxing and fun.

COMPANY VALUE

The company wants to keep its employees motivated and satisfied by providing a good working environment with good salary and benefits. Timely promotions and increase in salary will be given to show that their hard work is valued.

COLLABORATOR VALUE

The application will give the collaborators access to consumers that were not using their services. This will allow them to make services that will appeal to this market.

VALUE

TACTICS

PRODUCT

FREE VERSION

• User can search for products through text and photos.

• Allows users to place order

• Allows users to chat and share with peers.

PREMIUM VERSION

• Makes a personal profile of the user

• Alerts users about the latest offers on products they searched for

• Removes Advertisements

SERVICE

The application offers Business to Consumer type of service.

It allows users to access the database of various e-commerse websites and choose the best option

It allows users to use the services offered by the business such as delivery and return service.

BRAND

BRAND NAME: YourBestPrice

Brand Slogan: Shop Right

Brand Attributes: Consistency , Appealing ,Relevant.

PRICERs. 100/month

• The app is priced so after looking at competitors online

• The price is also high enough to keep the number of premium users low

• Low premium customers increases the reach of customers who get advertisements and increase the advertisements rates.

• Cashback offers

• Customer Loyalty Points

• Unexpected discounts

• Easy to use

• Saves time and effort.

• Through social media sites like Facebook, Twitter, Instagram

• Blogging site like Reddit

• WORD OF MOUTH

DISTRIBUTION

IMPLEMENTATION

INFRASTUCTURE

PROCESSES

1. PLANNING PHASE

2. IMPLEMENTATION PHASE

3. EVALUATION PHASE

PLANNING PHASE COMPONENTS OF THIS PHASE

• SWOT Analysis

• Marketing Program

• Set Marketing and Product Goals

• Market-Product focus and Goal Setting

IMPLEMENTATION PHASECOMPONENTS OF THIS PHASE

• Obtaining Resources

• Designing marketing organization

• Developing planning schedules

• Executing the marketing plan

EVALUATION PHASE

• Ensuring that the results of the program are in line with the goals set

• Observe any deviations in the plan and quickly correct negative deviations to get back on course

•  Exploit the positive divergences

SCHEDULE

PLANNING PHASE 7 MONTHS

IMPLEMENTATION PHASE

5 MONTHS

EVALUTION PHASE CONTINUOUS

THANK YOU