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Marketing Essay

In: Business and Management

Submitted By cutecindy829
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IV. Marketing Objectives & Issues 1. Gain 23,400 free app downloads
Our target market of the free version is UW students, staff and faculty. We estimate the number of smart phone users at about 58,600 (65% of total UW population) based on research. We predict that 23,400 of smart phone users at UW (roughly 40% of total) will download our free app by the end of the 1st year of release. 2. Gain 20,000 paid/upgraded app downloads
Our target market of the upgraded version is UW students, staff, faculty, and U district residents. We predict that 12,000 of free app users will upgrade to the paid version and 8,000 of U district residents will buy the app by the end of the 1st year of release. 3. Generate $5,000 revenue from in-app ads
We will put effort into building long-term cooperative relationship with advertisers to make in-app ads the most significant source of our revenue. 4. Develop the new app (complete version of restaurants in Seattle area)
The new app will include all restaurants in Seattle area. The estimated release date is one year after the release of the free version. 5. Make at least one major update per quarter to ensure quality
Besides bug fixes, we promise to update the information, such as operating hours and locations of restaurants at least one time per quarter to ensure the quality of service. 6. Achieve an operating profit of $ 20,000 in the first year
We should control the expense and costs no more than $25,000 to achieve an operating profit of $ 20,000 in the first year.
VII. Budget * Projected profit * $ 20,000 * Forecast of apps downloaded 1. Free downloads : 23,400 2. Paid downloads: 20,000 * Expected revenues and cost * Revenues: 1. App Sales : $ 1.99 upgrade fees × 20,000 downloads = $ 39,800 2. In-app advertising income: $ 5,000
TOTAL REVENUES: $ 44,800 *

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