PENNY WISEMARKETING PLAN

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

Penny Wise is one stop solution for all your online shopping wish list. Just share the product with the app and we will take care of everything else.

Almost every one wants to buy at the best price available but most of them end up buying at higher prices.

Penny Wise ensures that you buy at the best possible price in the market.

PENNY WISE

SITUATIONAL ANALYSIS

SITUATIONAL ANALYSIS

Penny Wise helps you to save money by:

- Tracking/checking the prices of your desired items across all popular ecommerce websites.

- Notifying you whenever lower prices are detected or when prices drop to or below a specified target item price.

COMPANY OVERVIEW

SITUATIONAL ANALYSIS

There are over 350 million Internet users in India and about 25% of them are online shoppers. The e-commerce market currently stands at INR 1.25 lakh crores and is growing at 30% CAGR. The aim is to support this growing market.

Tracking based apps, which helps save both time and money perfectly meets the needs of this growing market

MARKET OVERVIEW

SITUATIONAL ANALYSIS

The target consumers are all online shoppers.

An ideal consumer is a price conscious urban individual (aged 20-45) with a busy routine

TARGET CUSTOMERS

GOALS

GOALSPENNY WISEThe main objective is to facilitate online shopping and increase the bargaining power of the consumer.

We intend to get 0.1 million users within first year of the product launch and 1 million users at the end of first three years to establish ourselves as a market leader in this category.

STRATEGY

STRATEGY

- Customers can track products for free after an easy signup.

- Advertisements of ecommerce products shall be the source of revenue.

- Customers shall be given an option to block ads after paying a premium for it.

TARGET MARKETS

STRATEGY

- We keep an eye on the price so customers don’t have to.

- Customers can track multiple products across various sites.

- Customers get notified when the price drops.

VALUE PROPOSITION

TACTICS

TACTICS

Popular E-commerce Sites: View price history for products from apps like Amazon, Flipkart and Snapdeal

Price History: View the price history as a graph to see price trends over a period of time

Easy to Add Products: Just find the product you want on your favorite apps or website

PRODUCT

TACTICS

Price Drop Alerts: Set a custom price drop notification and get notified when the price gets triggered.

Hassle Free: No need to go to each site and check prices. Track all the products on a single platform

PRODUCT

TACTICS

Tagline: Save Money. Save Time. Jingle: Shop Wise with Penny Wise

BRAND

PENNY WISE

TACTICS

The revenue generation is done through display of ads on the app.

A user can permanently stop the ads by paying a premium of $1.25

PRICE

TACTICS

Prelaunch Promotion: - Viral Marketing - Reviews by influencer bloggers

On launch Promotion: - Paid Installs - Facebook/ Instagram campaign

Loyalty Promotion: - Partnerships with ecommerce sites- Offline promotions at malls

PROMOTION

TACTICS

The product shall be placed at two most popular app marketplaces:

- Google Play Store- Apple App Store

PLACE

IMPLEMENTATION

IMPLEMENTATION

We will have two core teams:

- App Developers: Responsible for addressing technical issues

- Business Developers: Responsible for

reaching and influencing frequent online shoppers

INFRASTRUCTURE

IMPLEMENTATION

Phase 1: Test launch- Getting Customer feedback - Resolving Technical errors in app

Phase 2: Official launch - Reaching potential customers- Increasing user base by promotional

activities

PROCESS and SCHEDULE

IMPLEMENTATION

Phase 3: Growth - Creating loyal customers - Entering new ecommerce platforms

PROCESS and SCHEDULE

RECAP

DISCLAIMER

Prepared by Hinal Shah, NIRMA University, Ahmedabad during Marketing Internship by Prof. Sameer Mathur, IIM Lucknow