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-The inconvenience of trying on different outfits to find the perfect match. Features Value Proposition -All in one wardrobe app in the palm of your hands
-Supported by both iOS and Android
Unique application which allows users to visualize outfits
-Instant access to articles, reviews, and online shopping market
-Simplified and easy to use app With an initial investment of $75,000, DresSmart projects to make $450,000 by the fifth year. Market Entry DresSmart -The inability to visualize different outfit options in the palm of their hands. -Virtual fitting room with the ability to upload your picture and see different outfit options for your body type
-Bar code scanner (to scan items and visualize)
-Instant access to online shopping with participating retailers (Macy’s, Urban Outfitters, H&M, XXI, and American Apparel)
-Instant access to reviews
-Share your favorite outfits with friends through social media
-Sell to diverse age market (17 – 35) that use either Android or Apple smart phones
-Allow access to different clothing companies in one convenient location.
-Keep the app price affordable ($0.99) Resources -Partnership with Macy’s, Urban Outfitters, H&M, XXI, and American Apparel
-Web designer to make application compatible with Android and Apple smart phones
-Approval from Apple App Review Board
-Integration with clothing websites DresSmart will help to eliminate: Market Overview -126 million smartphone users in US
-Android makes up 53% of the smart phone market or 67 million users -Apple makes up 36% of the smart phone market or 45 million users
-78 % of smart phone users access apps once a week Apple App Market -40 billion apps downloaded since 2008
-20 billion downloaded in 2012 alone!
-App Developers make 70% of sales, and Apple makes 30%
-About 775,000 apps available for download Google Play Market -25 billion apps downloaded since 2009
-15 billion downloaded in 2012!
-App Developers make 70% of sales, and Google makes 30%
-About 800,000 apps available for download Revenue Generation -Partnership with major companies
-Maintenance -Application order processing
-Integration with clothing company's websites -Pricing
-Advertisement on social media
-Pro versions -Customer Service
-Application repair Operations Marketing and Sales Service Inbound Logistics -Research and Development
-Web designer Outbound Logistics Value Chain Mission: To revolutionize the apparel shopping experience and empower customers with knowledge to make better shopping and dressing decisions. Competitive Matrix -Threat of new Entrants- (High) Similar apps could offer similar services
-Rivalry among Competitors- (Low) No other app offers the service Dress Smart offers
-Threat of Substitutes- (High) Many apps are made everyday and similar apps could compete
-Bargaining Power of suppliers- (Low) Many different clothing stores to choose from
-Bargaining Power of Buyers- (Low) Customers do not have many apps to turn to Market Research 50 people surveyed:
54.1% Apple users & 45.9% Android users
-35.1% of those surveyed purchase at least 1 app a week
-62.2% of those surveyed would purchase our app $75,000 $55,000 $200,000 $350,000 $450,000 http://www.polleverywhere.com/multiple_choice_polls/LTQ1NTkxOTY5 Real-time Survey Backup Slides