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Cardswap Detailed Presentation
Transcript of Cardswap Detailed Presentation
Brenna Bush and Adrianna Gorska What is CardSwap? Recommendation Background Info CardSwap is an intermediary between buyers and sellers of gift cards
Sellers can get rid of unwanted gift cards by selling them to CardSwap
Buyers can obtain gift cards from this pool at a discounted rate
CardSwap receives revenue from the seller-side of the business (6% of amount of card) Target Market College-aged and recent college graduates
Approximately ages 18 to 30
Frequent gift card users Central Problem How should CardSwap best position their service? Relevant Issues Leading company for discounted gift cards in Canadian market
No access to large advertising budgets
Gift cards have become highly abundant
$87 billion worth of gift cards were authorized in the U.S. in 2009 – Canada expected to follow similarly
Main competitors are U.S.-based and do not offer services specifically to Canadian consumers Positioning Alternative One Convenience
Money-saving aspects Relevant Issues Continued Services solve customers’ problem of being stuck with unwanted gift cards
In-house tool that allows consumer to validate the balance of the card
Customer can identify last transaction of the card in the event of potential fraud Positioning Alternative Two Security
Depth of lineup Analysis Alternative One:
*Attract customers who are more money-conscious
*Convenience-Draw more portion of target market
*Fast one-time process to register
*Security and Safety
*Buyers payments would be secure through major Canadian banks
*Directly communicating with CardSwap SWOT Position product as convenient transaction
Allows the customer to save an optimal amount of money
Allow customer to buy and sell card from own home
Register and sell card in one fast one-time process Alternative One Implementation Focus on money saving aspect of the business
Focus on college-aged young adults or recent graduates through the uses of social media and Search Engine Optimization
Cheaper method of advertising
Advertising by comparing purchasing prices of gift card directly from the retail stores