ft food & time marketing plan
TRANSCRIPT
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Marketing Plan for a
new Android
App
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1.ExecutiveSummary
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According to researchers at BBDO and AOL, Smartphone users’ most common activity is “me time”
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IntroducingFT: Food and Time- a one of a kind integrated food platform comprising of all resturaunts of the city featuring their menu with service of pre-order and home delivery.
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It further aspires to boost sales among its user-base, and play an integral part in revolutionizing the food business.
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2. Situational
Analysis
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2.1Company Overview
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Core Competencies
Excellent Customer Relationship Management practices Adoption of latest data analytics techniques Implementation of SEO and ASO Tie up with reputed restaurants and famous vendors full menu content, reliable quality food
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Current Product Line
covered: Economics, business, finance, culture, politics, lifestyle, humour, environment and many more that’ll attract sufficient number of users Types of food featured: Street food, junk food, Indian Classical, Chinese, South Indian, and depends on restaurants one choose
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Market Position
FT: Food & Time will be positioned as the favoured destination for college students and young professionals in the age group of 18-40, who are looking for quality food and/or have no time to spare waiting for their order. Aim is not to compete with existing content apps but to fill the market gap created by them. The app hopes to garner a respectable market share in lowly built structure to support local vendors.
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2.2Market
Overview
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Potential Customers
5432
12 2
College StudentsYoung pro-fessionalsMiddle-aged
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Opportunities
• Save time by pre-ordering at home• Better selection by seeing menu online• Home delivery from any local vendor• Better choice of restaurants
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2.3Target
Customers
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Demographic
Segmentation is
employed -:
Age Income Occupation Education Generation
18-40 Middle Self-employed Graduate Gen XUpper Middle Businessmen Post-
graduateGen Y
High IndustrialistsCollege
Students
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Thus target customers that emerge are college students and young professionals in the age group of 18-40
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This market
segment
is :-1. Measurable: Size, purchasing power and
characteristics can be measured2. Substantial: Large and profitable enough to serve3. Accessible: Can be effectively reached and served4. Differentiable: Responds differently to different
marketing mix elements 5. Actionable: Effective programs can be formulated
to attract it and serve it
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3. Strategy
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3.1Target Market
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Customer Needs
Fast and easy transactionsNot wasting time waiting for food in restaurantsMaking better choice of foodChoosing better restaurantsHome deliveryFood quality
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Distinguishing characteristics of customers
Use Smartphones regularly, and do a lot of extensive online payments no time to waste especially waiting for food
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Collaborators include:-1. Restaurants2. local vendors3. Premium food stores
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Suppliers i.e. Content sources Open sources like Wikipedia, Quora, Facebook and the like Government sources like Press Trust of India, Doordarshan and NSSO International sources like Reuters, ANI and Associated Press among others Paid sources that include newspapers, magazines, journals, blogs, content websites etc. Writers, bloggers, poets, authors and the like who are part of the content creation team The contributors from the targeted consumer base
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Communication Partners
Social media sites like Facebook, Twitter, Instagram, LinkedIn, Whatsapp via which the content of the app will be consumed
Brands/companies who’ll sponsor the app or advertise their products/services through display ads, sponsored posts and advertorials on the app
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Goals of Suppliers• Recognition and
credit for their sources
• Promotion of the agency
• Alternative revenue stream
Goals of Channel Members• Expected payment
for the services rendered
• Positive feedback and increased referrals
Goals of Communication Partners• To target as large
and diverse a consumer base as possible
• To attract new customers toward their product/service
• Build brand image, strengthen brand awareness and drive brand equity
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Key Stakeholders are:-1. restaurants2. app management team3.Customers4.Employees
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Regulatory Context
maintaining food quality Fast home delivery better and safe online payment
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3.2PositioningStrategy
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Employ emotional branding, cultural branding and brand journalism
Create buzz and a loyal app community
Develop POPs and PODs
Identify and analyse competitors
Conduct a low-cost market research
For Customers
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Differentiate the app from millions of other similar apps through any one of: Employee ,
Channel or Image differentiation
Develop a list of take-aways for them
Analyse the needs and wants and goals of the collaborators
For Collaborators
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Effectively communicate the same to the investors and win their trust
Build and maintain a clean financial and legal image
Effectively communicate to the employees the same and remove all ambiguities pertaining to their role in the
organisation
Clearly outline the basic structure and functions and develop a cogent brand mantra for the app
For Company
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4.1Brand
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• FT: Food and Time• “save time eating food”
Name and
Slogan• No more wastage of time in
waiting for order of your foodMeanin
g
• Quality, variety, lucidity, homogeneity and universal appeal
Attributes
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4.2Price
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Selecting the pricing objective
Determining Demand
Estimating Costs
Analyzing Competitors’ Costs, Prices, and Offers
Selecting a pricing method and setting the final price
Following Steps are followed in Setting a Pricing Policy-:
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4.3Communication
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Initial Promotional Steps assuming Zero Budget
1. Word-of-mouth marketing to family members, friends, neighbours and acquaintances
2. Launching of Facebook page and Twitter handle to capitalise on the influential social community
3. Subtly featuring the app in all e-mails, messages and posts to indirectly increase its online presence
4. Uploading of a promo video on YouTube which will cogently and visually explain the functionality and benefits of the app
5. Joining developers/entrepreneurs groups on LinkedIn
6. Coming up with an Announcement Blog for the app , followed by a Summary Guide, Press Release, Design Collateral and App Screenshots
7. Leveraging the power of SEO(Search Engine Optimisation) and ASO( App Store Optimisation) to optimise searches and yield greater results
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Later Stage Promotional Steps
1. Featuring app in official blogs which have an extensive readership and are considered credible
2. Participating in app awards as they can give tons of press, exposure, reviews, and plenty of downloads
3. Getting featured on Mobile App Review Sites4. Recruiting users locally by organising meet-
ups, events and conferences5. Commenting on relevant blogs by providing
valuable insight and linking to the app download link
6. Utilising Pinterest’s new feature called App Pin that allows people to download iOS apps directly
7. Creating a contest within the app which will incentivize users to download the app and keep it for the remainder of the contest
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4.4Distribution
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1.App Stores/Recommendation Sites
Tapping App Stores across all categories such as non-Apple platforms, independent app stores, carrier app stores, device app stores, tablet app stores and more
Tapping App Recommendation Sites such as Appoke- a new combo Android App Store and social network, iApps.in- a forthcoming semantic search engine for apps
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2.Pre-Loads
Apps pre-installed on a handset are usually only one of 8 to 10 apps on that channel, so even if the app is only a demo version,conversion rates are high
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3.Pay-Per-Installs
Getting listed the app in such sites in which a recommendation- driven promotion engine rewards users with virtual goods or virtual currency in one app for installing and trying another app
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5.1Processes
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Processes involved in implementing the strategy and tactics are:-
Managing a holistic Marketing Organisation for the long run
Designing and Managing Integrated Marketing Communications
Designing and Managing Integrated Marketing Channels
Developing Pricing Strategies and Programs
Setting Product Strategy
Setting up Strategic Business Unit
Identifying Market segments and targets and crafting the Market Positioning
Defining the Android App’s mission: Identifying core competencies and choosing value
Analysing Business Markets
Analysing Consumer Markets
Scanning the Marketing Environment, Forecasting Demand, and Conducting Marketing Research
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5.2Schedule
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Task Lead TimeMarket Research 2 months
Analysis of Consumer and Business Markets
1 .5 months
Crafting Market Positioning 3 weeksSetting up Strategic Business
Unit3 months
Setting Product Strategy 2.5 weeksDeveloping Pricing Strategies 2 weeks
Designing Integrated Marketing Channels
2 weeks
Designing Integrated Communication Channels
2 weeks
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DISCLAIMER Created by Shagun Kansal, IIT Roorkee,
during a marketing internship by Prof. Sameer Mathur, IIM Lucknow