flashbank android app marketing plan
TRANSCRIPT
FLASHBANK
Marketing plan
FlashBankFor the people…….
ExecutiveSummary
Flashbank aims to make the life of people easier By enabling money transfer through mobile network
Owing to demonetization in India, Flashbank will Help greatly in its transformation into a cashless Economy.
SituationalAnalysis
Flashbank Believes In Providing Solutions For Day-to-day Problems Faced By People
We, At Flashbank, Make Use Of The Latest Web Technologies To Make Apps Which FacilitateMoney Transactions
2017 will be the year when peoplewill start shifting their modes of payment
People are looking for companies which provide safe and secure banking
More and more shops and retail stores are looking adopt online modes of payment
But internet connectivityin rural areas still remainsan issue
We have developed a technology called ‘Flashbank safe banking’ that will rely on both internet and mobile network
Target customers
1. This app will target Indian people owing to the demonetization as the Nation looks forward to transform into a cashless economy
2. It will also focus on villages in India where only a select few networks are there
GOAL
With more and more people expected to switch to smartphones in the coming years, Flashbank wants to lay a solid foundation
In 2016, number of mobile phone users in India crossed 1 billion mark
In these regards, we aimto launch our official appnamed ‘FLASHBANK’ by September 2017.
2017-2018
10,000+ downloadsAnd expected revenue ofRs. 1 cr.
2018
1 million downloads
Expected revenue ofRs. 4 cr.
2019
10 million downloads
Expected revenue ofRs. 15 cr.
TARGETS
TARGET MARKET
1. Restaurants:
Mostly, the transactions in restaurants occur above Rs. 500. So, it is the best place to promote the usage
of this app.
2. Supermarkets:
The expenses of different types of consumers here vary from a few
hundred rupees to even Rs.25000. Also, in supermarkets we get a
chance to advertise the app.
Consumer needs & wants:1.Flawless security2.Simple user interface of app3.Quick payments4.Less charges on transactions5.Offers and loyalty points6.On the go customer care
Supermarkets Restaurants
Telecom Companies
Banks and Insurance companies
FLASHBANK
Collaborators
Top Competitors
Biggest established
competitor withover 50 million
downloads
Another established
competitor With over 10
million downloads
Relatively new to the market
with over 5 million downloads
Economic-Free to use for 250
transactions
Technological-Use of latest tech for fluid
experience and security
Sociocultural-will be released in 12 Indian
languages to ease its use
Regulatory-Simple UI for faster
payments and processing
Context
•Seamless payment option for daily transactions•Position strategy will include taking advantage of the demonetization processCustomer•Frequent use of mobile network will generate revenue•Positioning will include subscription to networkCollaborator
•Rapid employee growth•Great work life balance for positioningCompany
Value Proposition
Tactics
ProductFree Version
1. Transactions are free whether you are paying or receiving money.2. You can check account balance, recharge, pay bills 3. Free services like customer care and at home KYC4. Per transaction limit of Rs. 4000.5. 250 transactions per year on mobile network free
ProductPremium Version
1. No charges for transferring money from Flashbank to your bank account.2. Per transaction limit will be removed3.No limit on number of transactions on mobile network
Points of Parity(POD
s)
• 1. Online payment transactions• 2. limit on money storage before KYC• 3. Recharge, pay bills, shop online,
etc.
Points of Differences(PODs)
• 1. Transfer money through mobile network
• 2. No limit on money storage after KYC
• 3. 0.5% charge for tranferring money to bank
Name- FlashBank
Logo-
Tagline-For the people….
PricingPremium price for app: $10 per year $3 for 3 months $1.2 per month
Given that transactions will take place onmobile network it will cost a bit more than what internet costs.
250 transactions for regular household chores will suffice as the consumer research suggests.
So for heavy users a nominal amount of $10 per year is an ideal price.
What makes our app different from the competitors ?
1. Today, there are places where we cannot access mobile data or internet but we can definitely get some mobile network.2. Also, mobile network is a sure-shot necessity and their rising prices make it difficult to purchase mobile data. 3. So, using this network, Flashbank lets you pay or receive money in seconds.
Incentives
Customers•Special offers on reaching target number of download
Collaborator
•Special advertisements for the collaborator by Flashbank
Company•Increments and special bonuses on target achievement•Loans or funding from the company for higher education
Promotion 1. The promotion of Flashbank will take place mostly through social media websites like Facebook, Twitter and Instagram.
2. Use of whatsapp and other chatting apps will be the key towards its promotion
3. Google Adsense
4. Make simple advertisements and post it on websites like Youtube.
Distribution
CEO
CFO & CMO
Senior and middle managers
Supervisors
Operatives
Organizationalstructure
• Launching of app • Recruitment from
top colleges2017
• Focusing on increasing the sales
• Broaden the reach of the app
2018
• Target atleast 10 million downloads
• Create brand loyalty in the hearts of the customers
2019
Schedule
1.Executive Summary2.Situational analysis3.Goal4.Strategy5.Tactics6.Implementation
Disclaimer
Created by Suyash Mulay,VIT Vellore, During the marketing Internship under Prof. Sameer Mathur