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The Strategy of Love ... Cupid plc

Strategy in the international environment group presentation
by

Ugochukwu Nwokoro

on 11 August 2013

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Transcript of The Strategy of Love ... Cupid plc

Shyamal
Deji
Mandeep
Mohamed
Ugo

What do they do?
How does the
Environment impact?

So, what's the
connection?

How has the
business changed?
How do we
proceed?

The Strategy of Love
COMMUNICATE
VALUE
User Gives
Personal
Details
ALGORITHM CALCULATOR
MATCH!!
RESULTS PRESENTED
RESULTS PRESENTED
RELATIONSHIP ESTABLISHED!
DATA MINING TO
IMPROVE THE
ALGORITHM
market research
R&D
POINTS OF
DIFFERENT-
IATION
VALUE
DELIVERY
CHANNEL
web
development
marketing
activities
web service
providers
KEY
payment services
e.g

Easy to get started

Promise of finding love

ADAPTED FROM JOHN FREDERICK'S LEADING FOLLOWING MODEL & OsTERWALDER + PIGNEUR'S BUSINESS MODEL CANVAS (2010)
Cupid plc's
Business Model
Secure Payment
Cost/expense
Key Partnership
Key Resource
Raw Intellectual Property:
The Dating Algorithm
The Know-how:
Psychological Strategic Grouping
OLD AGE
ETHNICITY
SAME SEX
SHORT TERM
LONG TERM
Algorithm matches based on:
Energy levels
Sexuality & Passion
Appearance
Curiosity
Algorithm matches based on:
Emotional stability
Ambition
Conflict resolution
Character
Self concept
Intellect
match.com
eHarmony
forgetdinner.co.uk
flirtbox.co.uk
COMMUNICATE
VALUE
User Gives
Personal
Details
ALGORITHM CALCULATOR
MATCH!!
RESULTS PRESENTED
RESULTS PRESENTED
RELATIONSHIP ESTABLISHED!
VALUE
DELIVERY
CHANNEL
web
development
web service
providers
payment services
e.g
Promise of a good match
Easy to get started
Many to choose from
Promise of finding love
Tailored to my preferences
Free to sign up
MACRO
MICRO
OPPORTUNITIES
&
THREATS
STRENGTHS
WEAKNESSES
COMMUNICATE
VALUE
User Gives
Personal
Details
ALGORITHM CALCULATOR
MATCH!!
RESULTS PRESENTED
RESULTS PRESENTED
RELATIONSHIP ESTABLISHED!
VALUE
DELIVERY
CHANNEL
web
development
web service
providers
payment services
e.g
Promise of a good match
Easy to get started
Many to choose from
Promise of finding love
Tailored to my preferences
Free to sign up
P
E
ENVIRONMENT
INTERNAL
B.P.
T.O.E.
S.P.
Sub
Riv
L
&
COMMUNICATE
VALUE
User Gives
Personal
Details
ALGORITHM CALCULATOR
MATCH!!
RESULTS PRESENTED
RESULTS PRESENTED
RELATIONSHIP ESTABLISHED!
payment services
e.g
Promise of a good match
Easy to get started
Many to choose from
Promise of finding love
Tailored to my preferences
Free to sign up
jdate.com
shadi.com
Values and beliefs
Religion
Culture
The Possibility for International Development?
?
?
AFRICA
EAST ASIA
Resistance of western social networks by government
Cultural issues
Culturally unacceptable: Male domination in relationships
legal issues
Arranged marriages
Lack of internet access/technology
Crime & Corruption
Explore New Strategic Groups?
OLD AGE
ETHNICITY
SAME SEX
SHORT TERM
LONG TERM
?
Same-sex lifestyle is more open (Smith, 2004)
Same-sex union: Legal & More accepted (BBC,2013)
Grindr has been very successful!
Over 4 million users by 2012
Works mainly through an app
Why?
Is it Sustainable?
Now legal in the UK (BBC, 2013)
stigma reduces in US (Silver, 2013)
NICHES
Going Mobile?
HIGH
LOW
MED
HIGH
LOW
MED
DESKTOP
TABLET
MOBILE
Customers' shift to a more mobile and social lifestyle
Ease of Access to services
Integrates with everyday life
"Social media creates new market opportunities... 40% of people are using or products via Facebook or our mobile app" - Bill Dobbie, C.E.O Cupid plc (BBC, 2012)
Buy into Exciting new technologies
Leverage social media
Can we afford it?
However, Stigma still exists around 1st meeting...
Can Video Chatting Help?
Breaks the ice
Safer
Eliminates fear of fake profiles
Is Internet access an obstacle?
Access to broadband in 2010 as a % of country's population
Source: International Telecommunications Union, 2010
REFERENCES
MATCHING VARIABLES CHANGE
T
S
E
SOCIAL
Shifting to a social networking lifestyle
Crossing ethical and religious issues
Stigma about online dating still exists
Fear of the 1st encounter
TECHNOLOGICAL
Widespread broadband access
Developments in software technology
Adoption of mobile Applications
LEGAL
Safety Issues
Data & Personal Information laws
"Consumers still associate the words 'desperate' and 'embarrassing' with online dating" (2009)
BUYER POWER
Several online dating sites to chose from
Hardly any switching cost
THREAT OF ENTRY
Little capital investment needed
RIVALRY
Market is saturated
Few niches left unexplored
Competitors have a growing market in the same-sex strategic group e.g gaydar
SUBSTITUTES
Social media offers a strong substitute
Face to face meetings
Free dating websites
SUPPLIER POWER
OPPORTUNITIES
Mobile apps: Possible partnerships (TECH/SOCIAL)
Social media opportunities (SOCIAL/THREAT)
Video dating (SOCIAL THREAT/TECH)
Same sex strategic group (RIVALRY)
International development (STRENGTH)
Algorithm matches based on:
STRENGTHS
Easy to join: No lengthy questionnaire
Spread across many strategic groups
Industry Knowledge: CupidLabs Proactive R&D Team
Already operating internationally
WEAKNESSES
Difficult to convert sign ups to paid subscribers (Smith, 2004)
Spreading ourselves too thin e.g Yahoo peanut butter manifesto (wall street journal, 2006)
THREATS
Bad media (LEGAL)
Fake profiles (SOCIAL)
Changing lifestyles (SOCIAL)
Social media stealing market share (SUBSTITUTES/SOCIAL)
Doubts around 1st dates (SOCIAL)
EAST ASIA
AFRICA
source: Cupidplc.com/ourproducts
BASED ON INFORMATION FROM FINKEL ET AL (2012) & CUPID PLC ANNUAL REPORT 2012
(source: finkel et al, 2012)
(source: finkel et al, 2012)
(Sources: Mintel, 2009 & Smith, 2004)
(Sources: Mintel, 2009 & Cupid plc annual report 2012)
(Source: Mintel, 2009)
(Source: Mintel, 2009 & IBIS World, 2013)
(Source: Mintel, 2009 & IBIS World, 2013)
(Source: Mintel, 2009 & IBIS World, 2013)
(Source: Mintel, 2009 & IBIS World, 2013)
(source:cupid plc annual report 2012)
(Source: cupid plc annual report 2012)
(source: mintel, 2009)
(Bond, 2011)
(Adam, 1996)
source: Cupidplc.com/ourproducts
(creativeguerrillamarketing.com, 2013)
(Sources: cupid plc annual report, 2012 & Mintel, 2009)
source: cupidplc.com
(source: FAME database, 2012)
NICHES
Adam, L., 1996. Electronic communications technology and development of internet in Africa [online]. Information Technology for Development, 7(3). Available at: http://www.tandfonline.com/doi/abs/10.1080/02681102.1996.9525278#.UbmuP19Ovwo. [Accessed 13 June 2013].

BBC, 2012. Cupid woos and wins new markets [online]. Available at: www.bbc.co.uk/news/uk-scotland-scotland-business-17268729?print=true. [Accessed 13 June 2013].
BBC, 2013. Gay marriage: Deal to allow bill to proceed in Parliament [online]. Available at:http://www.bbc.co.uk/news/uk-politics-22588954. [Accessed 13 June 2013].
Bond, J., 2011. Culture, Dissent, and the State: The Example of Commonwealth African Marriage Law. Washington and Lee University School of Law [online]. Available at: http://works.bepress.com/johanna_bond/3/. [Accessed 13 June 2013]

Creative guerrilla marketing, 2013. The Success of Grindr and Your Mobile Marketing
Campaign [online]. Available at: http://www.creativeguerrillamarketing.com/mobile-marketing-2/the-success-of-grindr-and-your-mobile-marketing-campaign/. [Accessed 13 June 2013].

Cupid PLC, 2011. Annual report, 2011 [online]. London: Cupid PLC. Available at: www.cupidplc.com/?get...CUPID2011...2011%20Annual%20Results. [Accessed 13 June 2013].

Cupid PLC, 2012. Annual report, 2012 [online]. London: Cupid PLC. Available at: www.cupidplc.com/?get...CUPID2011...2011%20Annual%20Results. [Accessed 13 June 2013].

Cupid PLC, 2013. Our products [online]. Available at: http://www.cupidplc.com/en/what-we-do/our_products. [Accessed 13 June 2013].

Fame, 2013. Fame -­ company report of Cupid PLC [online]. Available via: fame. [Accessed 13 June 2013].

Finkel, E., et al., 2012. Online Dating: A Critical Analysis from the Perspective of Psychological Science [online]. Psychological Science in the Public Interest, 13(1), pp.3 –66. Available at: http://faculty.wcas.northwestern.edu/eli-finkel/documents/2012_FinkelEastwickKarneyReisSprecher_PSPI.pdf. [Accessed 13 June 2013].

Fredericks, J., 2013. Developing business models, from BUSI48025: Strategy in the International Environment. Nottingham Business School on 13th June 2013.


IBISWorld Inc., 2013. Dating Services in the US Industry Market Research Report from IBISWorld has Been Updated [online]. Available at: http://www.prweb.com/releases/2013/3/prweb10537905.htm. [Accessed 13 June 2013].

Inside OKCupid: The math of online dating. 2013. [video]. Lesson by Christian Rudder, animation by TED-Ed. Available at: [Accessed 13 June 2013].

International Telecommunications Union (ITU)., 2013. Percentage of Individuals using the Internet from 2000 – 2010[online]. Available at: www.itu.int/ITU-D/ict/statistics/.../IndividualsUsingInternet_00-10.xls‎. [Accessed 13 June 2013].

Mintel, 2009. Online Dating UK. [online]. Available via: Mintel [Accessed 13 June 2013].

Osterwalder, A and pigneur, Y., 2010. Business model generation. Canada: John Wiley & Sons

Smith, A., 2005. Exploring online dating and customer relationship management [online]. Emerald Group Publishing Limited, 29(1), pp. 18-33. Available at: http://www4.comp.polyu.edu.hk/~csehung/fyp0607/smith05.pdf. [Accessed 13 June 2013].

Silver, N., 2013. How Opinion on Same-Sex Marriage Is Changing, and What It Means. The New York Times [online]. Available at: fivethirtyeight.blogs.nytimes.com/2013/03/26/how-opinion-on-same-sex-marriage-is-changing-and-what-it-means/. [Accessed 13 June 2013].

The wall street journal, 2006. Yahoo Memo: The 'Peanut Butter Manifesto' [online]. Available at: online.wsj.com/public/article/SB116379821933826657-0mbjXoHnQwDMFH_PVeb_jqe3Chk_20061125.html#printMode. [Accessed 13 June 2013]
Better integrated with social networks
Exciting new communication technologies integrated
Video chatting enabled
Services more available mobile platforms
New customers from Same sex strategic group
Full transcript