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MarketingPlan

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MarketingPlan

  1. 1. Zanab Khan Robert Crowe Shivani Jani Krystal Rolo Michael Dimeglio December 2 , 2013 Written Project Executive Summary: The Uni-Friend is app about online checking account for college student. The uni-friend is a an app. The app is very easy to access from your smartphones and electronic gadgets. The app is free. This app is targeted to only United States. The Uni-Friend is a LLC and our partnership is with MasterCard is a joint venture. The app is targeted a consumer market of college students and ages of 18-40. An analysis of internal and external environments indicates the firm enjoys important strengths in its product, employees, and its reputations, while weakness are apparent in its size, financial resources, and product capabilities. Situational Analysis: The Uni-Friend was founded in 2011 and 2012. Around the time it was being noticed how there is literally an app for anything and how college students use smart phones more than anything. By the time we created a partnership with mastercard and developed the app.It would be around now or 2014 we'd release the product. Internal Environment Mission Statement of Uni-Friend: To help the students of America navigate and save money one day a time. Mastercard Mission Statement: Everyday everywhere we use our technology and expertise to make a payment safe simple and smart. Organizational Structure: Our organizational structure is split between 5 owners who have an equal share in the idea and making of this product. ● Robert Crowe: Founder of Uni-Friend and President. In the charge of the app design.
  2. 2. ● Michael Dimeglio: Co-President ● Zanab Khan: Marketing-domestic marketer, markets to target market ● Krystal Rolo: Finance-responsible for developing financial strategy and keeping company books. ● Shivani Jani: App Developer: responsible for the technical design of Uni-Friend. Keep the app updated and current Corporate Culture: Uni-Friend is mobile app. A key element of the internal environment is a culture that encourages innovation, risk taking, and individual creativity. The company;s beginning was based on a desire to provide, a unique, superior product, and company decisions have consistently emphasized this mission. Current Products: What is our product? It is an app that is meant for the college student to help them save money through their educational journey. It is designed to help them save money. For example, going to a school in an area where they may not be familiar with, this app will help them locate restaurants, clothing stores, gas stations. Anything a college student will need this app will tell the name of the store, how to get there, and how cheap their prices are. Market: The consumer market for the Uni Friend product is college students. College students spend enough in books and tuition and are looking for other ways they can save money whether it be in gasoline, food, clothing etc. Distribution will be around August 2014, a month before the fall semesters begins.via smart device applications. ● All of Uni Friend's services and products will be dispensed from our main website. We will also be available for telephone help line services. ● The Uni Friend is available online, on phones, tablets,iPads, and computers as well. Its available for purchase at Best Buys, electronic stores, college bookstores, and the online Apple Store.
  3. 3. External Environment Competitive Environment: The Uni Friend is an application that can be bought over any smart device. Apps are easily recreatable being that all their functions are available when its bought. Another company can recreate the app/ and or modify it. Other colleges may offer an app similar for their students in terms of local areas of student discounts, etc. Economic Environment: The Uni Friend is offering its app/ product free to its users. In order to make profit, companies and their advertisements need to be wanting to offer their advertisements on the Uni Friend. Due to economic hardship, not all companies are willing to pay for advertisement. Technological Environment: The Uni Friend runs solely on smart devices. Technology plays a big part of the product. College Students can access the app at an ease of their home screens on their smart devices. Political and Legal Environment: For our app labeling will include the facts and statistics information. In addition Uni friend app service are regulated by the U.S. Department of education. There are number of regulations that are country-specific in current and prospective global markets which our company must constantly remain aware. Any future advertising campaigns developed by Uni friend will have to conform to regulatory guidelines in the United states. SWOT Analysis Strength: ● We are a very in depth app and offer many features to a college student in an unknown area. ● We are also good for finding new places around town if you already know the area. We are an app that is very easy and very straight forward to use. Can get this app on our smart phones. Weaknesses: ● There are many apps that are similar.
  4. 4. ● May be hard to get our name out there. Opportunities ● We will have people always looking for something like our app to help throughout their college career. ● College kids always want to save money, so we are perfect for them. ● If our product takes off we will never run out of people who want the app, especially in an economy that is so in need of having an education to get a good job. Threats: ● There are many other people who will try to make an app like ours or better than ours. ● If we don’t constantly update we may lose clients Marketing Objectives: ● To introduce a new market of convenience to college students via smart phones. ● Maintain dominant market share by any chance competition enters the market. ● To be recognized by all college students across the United States MarketingStrategies Consumer Markets: The Uni-Friends consumer target market can be described as follows: Demographics ● Age: 18-40 ● Generation X ● Generation Y ● Those located near colleges or dorm in colleges Psychographics
  5. 5. ● Spend money on outside food a lot ● Need for social acceptance through clothing and appearance ● Live their lives always on the move, whether it be by car or by public transportation ● Enjoy spending time with friends Media Habits ● Spend a good amount of time on social networks and e-mail accounts ● Prefer to watch reality shows or music channels ● Likely to listen to radio on their way to school or use of an mp3 ● Get their news from television or internet rather than newspaper Organizational Markets To increase distribution and sales of its products, The Uni Friend will distribute in places where college students mostly go or where electronics are sold. 1. College bookstores/ regular bookstores 2. Stationery stores 3. Electronic Stores 4. Online App Stores Positioning the Product Uni-Friend positions itself as the go-to for all college students, a must have on every college students phone. It’s available all throughout the United States and any student can enter any college/ university to get all information of its surroundings from locations to prices to discounts etc.
  6. 6. Segmentation: We will segment our target market by geocoding. Product Strategy: ● The Uni-Friend plans to modify its product to include partner with certain stores to give exclusive discounts to the Uni-Friend users. ● The Uni-Friend plans to be recognizable among majority of college students that stores will plan to offer these discounts for their benefit of sales too whether it be clothing stores or restaurants . Only Uni-Friend users will have access to to these discounts and coupons ● The Uni-Friend also plans to make its product free eventually. Once the product is recognizable and gain users, companies will consider strongly advertisement through the Uni-Friend to increase their sales. All revenues can come through these advertisements and no longer through the customer. Once possible customer see its free, they will have more incentive to buy the product. ● Our app shows has the main information that any college student will need to help them save money since almost all college are on budgets. ● As of right now our app shows where restaurants are and how much they cost for one to eat there. It shows clothing stores, gas prices, and a couple other small features. In the next six month period we plan to start adding even more features like local hangouts, and then restaurants of all different prices, all one has to do is type in how much they are willing to spend and then the app will give the options that will fit their budgets. The local hangouts option is more for the student that is going to an out of state college and has no idea of the area that they are in. ● Ratings are available for users.Incorporate a system where the can put in how long they have been at the school because then if it is rated high by like a student in their 4th year, that might make someone decide to go there instead of somewhere else. Pricing Strategies: ● The Uni-Friend is planned to be priced at .99 cents. The product won’t cost much for production. It is not a concrete product that requires manufacturing, packaging or shipment. Since our target market is college students who do not have much money to freely spend .99 cents is an affordable app for the customer.
  7. 7. ● The Uni-Friend is a new product. Before reaching a future goal to make the app free, The Uni-Friend needs many customers to gain trust from companies who wish to advertise through the Uni-Friend that their money for advertisement is worth paying. Pricing Objectives: ● Our pricing objective is to create sales. We are in a non competitive market currently. Since we are just releasing this product our objective is to create sales. The Uni-Friend also plans to make a profit with charging .99 cents for the product rather than having just income from advertisements. Charging .99 cents also can give customer satisfaction because it is not a pricey product that plans to save them a lot of money with the use of app. Pricing Tactics: ● One Time Payment of the low price of .99 cents Promotion strategies: Advertising: ● Publish brochures that will be left on the tables for customers to read in the library or in the cafeteria. ● Publish flyers in college bookstores, student centers and all of the hallways. ● Social networking-We will be promoting our product online on Facebook and Twitter. Many people use these social networks, an advertisement through these networks can encourage downloading the app. ● Advertisement on college tvs and on the radios. ● Most college students need a laptop or some type of electronic before they go to college so if after they buy that electronic they are told about it at the store then they are more likely to at least check it out so they may get it and use it. This may especially work with the out of town college students since they don’t know the area and they would be more interested because they would want to learn where they are and what different stores are around them ● Free trials: Giving users a week-free trial of the app. This gives customers an ability to see how the app really works instead of relying on the apps description. and to give the customer a chance to like the app and buy it.
  8. 8. Supply Chain: ● As noted earlier, for our app we are using channel of distribution we will make our app available in places easily accessible for customers and where they more commonly go. Apps available through the stores will be offered with an enter code ,where through the App stores its downloadable through the electronic device. ● Best Buy (electronic stores) ● Stationery stores (Staples) ● College bookstores. ● Online App Stores. Implementation and Control ● This action plan details the activities necessary to implement the marketing strategies and creating the product. Each individual has a responsibility and budgeted time to complete their responsibility Activity Who is Responsible Action Date Completed Design/ App Requirements Michael Tech set up. Meet with tech support July 1st 2013 Develop the App Shivani Overseeing development and coding June 10th 2013 Testing Robert Test out app on different market and for functionality August 5th 2013 Promote Krystal Using strategies with advertising On going Attract sponsors Zanab Go out and get sponsors to help with starting costs On going

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