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Transcript of PLAYMOOLAH
MARKETING AND SALES PLAN
- Founded in 2008 after economic crisis occurred in the States
- Founded by Min and Audrey who are concerned by their friends struggling with financial problems and growing debts
- Annual turnover <S$100 Million, 10 employees
-Leveraged on technology to educate children and parents on financial literacy
- Collaborated with OCBC in MightySavers campaign and DBS in WhyMoolah
- Fun and innovative game to attract attention of children
- Has no products to target people aged 13-22
- Games may not be able to attract attention of children
- Financial Crisis
- Attract attention for ages 13-22
- Animated Shows
- Angry Birds, Club Penguin, Moshi Monsters
Government policies ( i.e. country’s economy doing poorly, policies added like GST reduction to get people to spend more and improve cash flow for the country)
Economy ( i.e. poor economic status of a country could make parents in the country want their children to learn more about how to better save money, thus could lead to more customers for PlayMoolah)
Teachings of different cultures ( i.e. financial literacy for young children in Singapore focused more on saving, financial literacy for young children in US focused more on working and earning more pocket money)
Customers require access to the internet in order to play the games as they use leverage on technology to teach. Countries with less internet access might lead to fewer customers there.
- Target 6 to 12 years old
- Maximize exposure by promoting it to primary schools.
- We can get exposed to roughly 1300 consumers at once.
- Schools also have the facilities to cater to this large cohort. (Computer Labs)
- This approach is feasible, government is emphasizing heavily on educating people about financial literacy from a young age.
Taken from The Straits Times, 28 October 2013
- Highly possible that schools would start a new syllabus under financial literacy.
- Instead of using textbooks to educate the students, we can
Market Moolahverse as an alternative to let students have fun and at the same time gain knowledge about financial literacy.
- Offer Moolahverse at a discount.
- Engage in Moolahverse either during computer lab sessions or attend workshop after school for one day per week over a span of 1 to 2 months.
- Students who feel that it is fun and meaningful, would urge their parents to buy it for them.
- Parents would most likely purchase it for them as Moolahverse is an educational product.
- Targets the age group of 13 to 20 years old
- Spend on impulse the most
- A free trial can be given to let teenagers try
- Allow teenagers to track their spendings.
- A cap to limit their spendings per month (Maximum cap limit of $500).
- List down their spending according to the different categories (eg, clothes, food, accessories, etc).
- The app will alert them when they are hitting their cap amount.
- Points will be given to users if they spend within the cap limit.
- Accumulated points can be exchanged for vouchers. (10% off Zara/Topshop/Forever21 products etc)
- This age group spends the most without knowing how to manage their funds.
- Thus this app can help them to do so,
(and the incentive they receive from using this app also attracts them)
- Public listing
- "Friends and Family" Financing
- Banks/financial institution
- Venture Capital (VC) firms
- Business Angels
- Government grants
- IPO (Initial Public Offering)
- Substantial influx of cash
- Increase our company’s exposure, prestige, and public image
- Brand equity
Close, meaningful contact with customer base yields two significant business outcomes:
- Increased customer retention
- Incremental revenue.
Execute post-sales online communication strategy
- Utilisation of social media monitoring and communication tools
Engage your customers to gauge customer sentiment (good and bad) and respond accordingly
Increase the efficiency of technical support on facebook and online chat portal on Playmoolah website
Upsell or cross-sell customers by informing them of new (or existing) products or services through facebook, email and SMS (with customers’ approval) to maintain a consistent line of communication
- Growing Industry + Increasing Demand = Opportunity
- Pump in more skills and ideas
- Employ the right people
- Stimulate growth
- Minimize errors
- Maintain customer loyalty
- Staff retention
- Government Grants
Workforce Development Agency (WDA)