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Name Peiling Su

Net ID psu564
Group Number: 225
Website Link:
Tutorial Details Tutor: Day: Time:
Yvonne Hong 25/05/2014 9:24 pm
Time Spent on
30 hours Word Count: 1649

Moneetrac- Anyone, Anywhere, Anytime

New Zealanders have a saving problem. We are not saving wisely for our future goals. We
are too reliant on the government for financial benefits for whenever we are sick,
unemployed or injured so there is no incentive to save. This can be a serious problem for
our future economy. However, we have come up with a fun, easy and practical solution
called Moneetrac. It is a tool that allows you to connect to your savings account real-time
and allocate your savings to different goals anywhere and anytime.

3. Business section
3.1 Vision
Moneetrac’s vision is to provide a tool that transforms the world into a smart money saver.

3.2 Industry Analysis:
Online Saving Apps Industry:
Force: High/Low: Justification:
Buyer power High Customers have many choices of online saving applications
to choose from, with each suiting the different needs of the
customer. They can choose from mySuperList, Voucher
Cloud, Idealo, etc which help you get bargains and vouchers
(Rigby, n.d.). There are also more advanced saving apps
choices such as Mint, SavedPlus, Flexscore, etc (Hiscott,
Supplier power Low Businesses have many choices to buy from such as internet
service providers to support their online services; Vodafone,
Telecom, Telstra Clear, Orcon, etc (Finding an internet,
2013). There are also many advertising suppliers that would
supply advertisements for these apps through different
social media sites, online stores and Google display ads
(Marrs, n.d.). Suppliers of app design services are also
abundant as their services can be provided from overseas,
especially from the United States, United Kingdom and India
(Top mobile app, 2014). There are hundreds of companies
producing mobile application development platforms and
millions of mobile app developers (Guglielmo, 2014).
Threat of new
High It is relatively easy to enter this industry as there are no
strong barriers to entry. There are no high set-up costs or
legal barriers to stop anyone from creating and selling an
online savings app. However, marketing and building the
app can influence the success of the product (Genadinik,
Threat of
Low There are not many alternatives to having real-time online
savings apps that allows you to track and manage your
savings. Substitutes can be managing your savings/spending
with a financial worksheet or doing a goal-setting budget
(Vohwinkle, n.d.).
Rivalry among
existing competitors
High There are many different types of online saving applications
ranging from Mint, SavedPlus, Flexscore, RedLaser,
ShopSavvy, Groupon, etc (Hiscott, 2013). These apps are all
for free so the competitiveness in this industry are very high
as all these apps are trying to help customers save a bit of
money through different ways, so they are competing with
each other over the same customers.

Overall attractiveness of the industry:
The online saving applications industry is overall quite attractive. I would recommend
entering the industry as it has no strong barriers to entry and no scarcity of suppliers. The
only major concern is that the new business should have a strong competitive advantage
that will distinguish itself from the rest of its competitors by offering something new or
better to the market. A competitive advantage, that cannot be easily mimicked, will ease
the unattractiveness of this industry as it will out-compete any rivals as well as become
customer’s number one choice, therefore the business will be sustainable.

3.3 Customer and their Needs
The target market for Moneetrac are from teens to adults. It is in the teenage years where
people start to get their first income but do not think about saving for their future needs.
Research showed that 18-22 year old Kiwis have a ‘relatively low level of financial
knowledge’ (Ihaka, 2012). Of those surveyed, 90% see the importance of budgeting but only
52% say they budget (Ihaka, 2012). This shows that, although Kiwis know the value of
saving, they do not know how to go about it so they need something to help them manage
their savings.
As for adults, ASB found that its customers were saving only $50/week and ANZ reports that
half their customers do not feel confident in reaching their retirement savings target
(Parker, 2012). They require something that not only helps manage their savings for long-
term goals but also helps them develop healthy saving habits.

3.4 The product and Service
Moneetrac connects to the customer’s savings account which enables the customer to
manage their savings by allocating the amount of savings into different goals, thus
developing healthy saving habits. This helps the customer to be wise in their savings as they
are actively thinking about their future goals and will evaluate which goals have more future
importance and whether a specific goal will offer good future value. As a result, Moneetrac
will help customers to plan ahead and save ahead.

3.5 Suppliers and Partners
Moneetrac will partner up with NZ banks such as ASB, ANZ, and Westpac in order for
customers to connect to their savings account to Moneetrac, so that they can manage and
allocate their savings. Moneetrac will also collaborate with PayPal as some customers would
prefer to pay through a secure party.
Moneetrac’s suppliers would be internet service provider, Vodafone, as it would require
internet to stay connected with its customers and provide them online services. App design
supplier, Roam Ltd will provide Moneetrac app design services and advertising supplier,
AppThat™ will provide advertising to promote Moneetrac.

3.6 Strategy: Cost leadership
Moneetrac’s generic strategy will be a cost leadership. We are targeting a broad market as
we want customers of all different ages to have this tool to manage their savings and
develop healthy saving behaviours that benefits them in the long-run. Also, Moneetrac’s will
have a low cost strategy where it will be cheap. The affordability will appeal to wider range
of customers so everyone can benefit from using Moneetrac.

3.7 Value Chain Activity: Market and sell the product or service.
Moneetrac’s value chain activity is to market and sell the product. This is because
Moneetrac’s cost leadership strategy is to market to a broad market at a low cost. So the
affordability and practicability features are important in attracting customers to buy
Moneetrac, and thus generate value for the business in terms profits. Moneetrac’s vision
will be used to market and sell the product by attracting customers to become smart savers.

3.8 Business processes
3.8.1 Customer Membership process
The Customer Membership process includes receiving and recording new customer
information. This includes only asking for important customer information and no trivial
questions. However, in this process, it is important that the customer has provided their
correct information so that this information can be used to connect to their bank account
later on. If the information is not correct, the application is sent back to the customer for
correction. Only a completed application will be automatically recorded by the customer
information processing system to the business database. This process helps sell the product
by making the membership process simple and error-free and so the earlier the customer
can use its product, the more satisfied they will be. Also, this will help them save sooner and
become smarter savers.

3.8.2 Marketing process
The marketing process involves gathering and processing all the customer’s information and
using an information trend processing system, these information are analysed and graphed
into trends. The individual’s own saving progress will then be compared to the population
trends to produce an evaluation report that is sent to the customer. This will show a general
picture to the customer of their progress against other customers in similar savings group.
This marketing process will then help market special features of Moneetrac to customers by
introducing them to relevant savings features that helps them save smarter and more
effectively, whether they are low savers or high savers.

Collect all customer
Analyse customer
Identify and graph
population trends
Identify each
customer’s progress
against the
population trend
Create and send
customer’s progress
Is the customer part of
the low savers group?
Send a free less-
advanced savings
Send a
recommendation of
an advanced savings
Identify the type of
savings group for
the customer
Customer Analysis
Information Trend Processing

3.9 Functionalities
3.9.1 Customer Membership process
-Record customer information
-Check the completeness and accuracy of information

3.9.2 Marketing process
-Analyse customer population trends
-Identify and promote relevant app features to suitable customers

3.10 Systems
3.10.1 Customer Information processing system
This is a system that automatically records the personal information of new customers to
the business database. This is so there are no delays in receiving and recording the
information and thus, the product can be provided to the customer faster, saving time. This
enables the customer to use Moneetrac and become smarter savers as soon as possible.

3.10.2 Membership Detail Checking System
This system checks the completeness and accuracy of information contained in the
customer’s membership application. This checks for any mistakes, blanks and incomplete
sections. This is so the correct information is used to verify and thus connect the customer’s
correct bank account to Moneetrac so the customer can become a smarter money saver.

3.10.3 Information Trend Processing system
This system analyses and identifies trends between information collected from all
customers of Moneetrac. This will then generate a general population view of the
customers’ saving behaviours which will then be used to identify the progress of each
customer compared to the population average. This is so that recommendations of saving
features can be sent to help customers become more effective money savers.

3.11 Summary Table: Value Chain to Systems

Value Chain
Process Functionalities Specific
and Selling
the Product
or Service
-Record customer

-Check the
completeness and
accuracy of information

- Membership
Detail Checking

-Analyse customer
population trends

-Identify and promote
relevant app features to
suitable customers


Moneetrac is an online app that acts as a tool to help customers connect to their savings
account so that they can allocate their savings into different goals. Information systems
gives value to the business by capturing, processing and storing customer information. All
these systems drive business processes to operate Moneetrac, which enable customers to
use and become smarter money savers and thus generate profits for the business.
Finding an internet service provider in New Zealand. (n.d.). Retrieved from
Genadinik, A. (2013). 4 barriers to monetizing mobile apps. Retrieved from
Guglielmo, C. (2014). Mobile apps won’t lead to riches for most developers. Retrieved from
Hiscott, R. (2013). 25 apps to save you money. Retrieved from
Ihaka, J. (2012, November 20). Young Kiwis aren’t saving-survey. The New Zealand Herald.
Retrieved from
Marrs, M. (n.d). Online ads: a guide to online ad types and formats. Retrieved from
Parker, T. (2012, June 13). Kiwis ‘not saving enough to retire on’. The New Zealand Herald.
Retrieved from
Rigby, S. (n.d.). 18 best money saving apps. Retrieved from
Top mobile app developers and development firms. (n.d.). Retrieved from
Vohwinkle, J. (n.d.). Budgeting 101 everything you need to know about budgeting. Retrieved