iBrowse Introducing a new mobile application Orsolya Szentes SZE

‘[…] media networks continue to increase in popularity at a greater rate than social networks’ according to Mintel’s report analyzing social media networks. (Mintel, 2014 B)

‘The potential for location-based services is evident from powerful and ubiquitous wireless devices that are growing in popularity’ (Subhankar, 2011.) By knowing customers location, retailers can actively target them by sending them news and offers. Mintel’s latest digital trends report shows, that customers are wiling to share their location with retailers as long as they benefit from it.

Competitor analysis PinterestASAP54The Hunt

Mission statement iBrowse is the application for the busy, tech-savy woman who is fashion conscious and likes to keep up with the latest trends through a variety of sources. iBrowse will make her life easier by creating a platform for her shopping list enhanced by location based reminders and engaging content.

iBrowse Create your moodboard/wish list from all around the Internet Browse the selections created by your favorite fashion icons Get location based reminders when an item you saved is available nearby Share you mood board and purchases on Facebook, twitter or Instagram The combination of these existing and successful frameworks is the app’s unique selling point.

Business and marketing objectives Finish developing a dummy version of the application one year before the launch. Present the final version of the app to the partners six months before the launch. Start the promotion of the app five months before the launch. Participating retailers start promoting the app four months before the launch. Optimize the app store page one month before the launch. During the first month of the launch, 5,000 downloads are expected across the UK. Increase the number of downloads by 50% during the first two to three months and maintain a 25% increase thereafter. Introduce further retailers to the app from the third month post launch. Increase the number of social media followers to 100,000 by the sixth month. Launch a new, extended version of the app one year after the initial launch.

Target customer Aged Lives in a large city Student or graduate Interested in fashion Enjoys socializing and shopping Favorite brands include Topshop, River Island, New Look and Dorothy Perkins They are also likely to have increased brand activity, given that they are naturally happier using social networks in ways that might be unconvincing to older counterparts – such as for customer support, shopping ideas or advice (Mintel, 2014 B)

Marketing and promotion Get the right partners to gain exposure Social media Press and fashion blogs Celebrity endorsement Landing site

‘Mobility and location-based services combined with context-aware advertising create opportunities for targeted marketing and revenue generation’ (Shubhankar, 2011) Multiple revenue model: In-app advertisement Promotional content Revenue-sharing partnerships Location based targeted marketing

The proposed app is built on strong and successful existing frameworks but the combination of those doesn’t exist as of yet. It’s a very competitive industry with a wide range of apps available for the target audience, but none of them have the added value and benefits of this one. Potential issues and limitations: The technological limitations of the app Finding investors Creating partnerships with retailers Reaching the desired target audience

References Images Slide 2: Slide 4: Slide 7: Text: Womenswear – UK – May 2014 Mintel A Social and Media networks – UK – May 2014 Mintel B Subhankar, D, Challenges and Business Models for Mobile Location-based Services and Advertising.. Communications of the ACM., [Online]. 54/5, Available at: 9be1-2afa40ef3ff0%40sessionmgr110&vid=3&hid=119&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN= [Accessed 01 June 2014]. Shankar, Venkatesh, Alladi Venkatesh, Charles Hofacker, and Prasad Naik (2010), “Mobile Marketing in the Retailing Environment: Current Insights and Future Research Avenues,” Journal of Interactive Marketing,24 (2), 111–120.