Brand Management Project

Submitted To: Dr Anubhav Mishra

Submitted by:
Group 5
Ashish Ranjan 2021013
Table of Contents

Introduction To Idea 1

Mobile stats (Business Case) 2

Revenue Model 4

Brand Elements 5

Brand Positioning 6

IMC For Brand Communication 7

Spononsorship 9

Public Relation 11
Service Idea- Name - My Price
Tagline-Buy at your price
Our idea is to increase price transparency by showing the customer what the earlier prices of the current commodity
they are viewing are and hence decide if they find the deal worth the money. Our app is an add-on experience to the
customer’s shopping experience and not a competitor, it helps them make better decisions.
Our app will run in the background and have a floating icon on your screen once you start the app; then you can go
through your usual browsing session. Once you open up a product page on any of the supported apps simply tap on
the floating icon to see the price history of the products and compare its current price with the historical prices,
average and minimum price, probability of price drop, an alert when price drop of a product that you have
subscribed to and also a comparative price chart of the prices available across different e-commerce platforms.

Mobile Shopping Statistics:

If you thought mobile shopping wasn't a huge deal, you'd be surprised to learn that 67% of smartphone users admit
to window shopping for fun.
Furthermore, 77% of these digital window shoppers make impulse purchases. If you don't catch them straight away,
70% will return and make a purchase from their device within the first hour of seeing the product.
Mobile purchasing is fast overtaking desktop shopping. It's easy to do because people are constantly on the move.
Mobile shopping allows you to shop from anywhere there is a service. As a result, 49% of consumers exclusively use
their phones for shopping. That means mobile consumers will account for 49% of your traffic. As a result, optimizing
your site for mobile is critical.
Mobile purchasing has grown significantly faster than physical shopping and PC buying.
The generation born after 1998 is expected to have $44 billion in purchasing power. 93% of parents claim their Gen Z
child impacts household expenses. This generation will account for 40% of all consumer spending in just a few years.
95% of this generation own a smartphone, on which they spend at least 10 hours daily. As a result, they are twice as
likely as millennials to shop on mobile devices. They spend most of their time on Instagram and watching YouTube
videos.

Number of digital buyers in India in 2021, with estimates until 2025 (in millions)
According to the report, apps are a popular way to transact, with 98 percent of Indian respondents using them.
Source:https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/88-pc-of-Indians-use-mobile-
devices-to-make-purchases-study/72193156.

Younger generations are also more prone to be price conscious and price comparison, with more than half of those
two age groups reporting being irritated when they can discover things they want for less money elsewhere.

Different prices on different shopping websites:

Reason: Manufacturer and dealer commissions are why online shopping prices vary. The manufacturer establishes a
pricing range for his product. That will be his product's marginal profit range. The dealer obtains the merchandise
from the producer and determines his profit margin. For example, if a manufacturer sets a profit margin of 10% on
his goods, the dealer will acquire it and sell it at a margin of 15%. A large number of dealers will approach the
company about the product. The percentage will differ depending on the dealer. One dealer sells a product for a
15% profit margin, while another sets a price range of 13% or less. So the product's pricing range fluctuates over
here. Here our app comes, so when you search for a product, our app gathers prices and returns results to help you
make the best buy.

Do pre-sales and post-sales prices differ very much?

1. LG 6kg 5-star inverter fully automatic front loading washing machine (FHM1006SDW, white, 6 motion direct
drive)

Price before the sale: Rs 24,959 on September 21, 2022 (As per the price description on the platform, you
save Rs 10,000 or 29 per cent on an MRP of Rs 33,990)

Price during the sale: Rs 23,990 on September 29, 2022

But if you compare the prices before and during the sale (on September 29, 2022), you save merely Rs 969.

2. OnePlus Nord CE2 Lite 5G (blue tide, 6GB RAM, 128 GB storage)

Price before the sale: Rs 18,999 on September 21, 2022

 Price during the sale: Rs 18,999 on September 29, 2022

Do note that this product was offered by only one seller when we checked on September 29, 2022. So, there
was no discount on this product on September 29, 2022.

3. IFB 30 L convection microwave oven (30 BRC2, black, with starter kit)

Price before the sale: Rs 13,699 on September 21, 2022

Price during the sale: This model by a different seller was available at Rs 13,265 on September 26, 2022.

So, you will save 434 if you buy it from this seller on September 26, 2022

4. Samsung 6.5kg 5-star inverter fully-automatic top loading washing machine (WA65T4262GG/TL, Light Grey,
Wobble technology)

Price before the sale: Rs 16,636 on September 21, 2022

Price during the sale: Rs 16,190 on September 26, 2022

The price has lowered by only Rs 446 on September 26, 2022, during the Amazon Great Indian Festival sale
2022.

5. Samsung 192L 2-star direct cool single door refrigerator (RR19A241BGS/NL, grey silver

Price before the sale: Rs 13,514 on September 21, 2022

Price during the sale: Rs 16,190 on September 29, 2022

So, you save Rs 524.

Revenue Model

In-App Advertising

App makers use the in-app advertising revenue model to display advertisements inside their products. Every time an
ad is shown, the advertisers pay the developer. This mobile app advertising revenue has virtually endless
possibilities. Advertisers will want to purchase the ad space in your app if customers use it for a sufficient amount of
time.
Since our app will be tracking the products, the user is viewing to display price history and other items, it will be able
to suggest items to the user about prices and deals in a targeted manner. For every X no. of uses that customer does,
they will be served with a small 2 secs of a full-screen interstitial ad. This will help us sustain the app while keeping it
free for the users.
In-App Purchases

In-app purchases allow users to buy some features, content or services within an app. They are quite a wide notion
and include several types of revenue sources that can be utilized by developers. We have decided to go with a
freemium model.
Freemium model. Freemium apps can be downloaded for no cost and come with two different kinds of features:
free basic features and paid-for premium features. The objective is to give a user the chance to test out and take use
of all the premium features in the hopes that he or she would later pay for upgrading. These apps typically offer a
risk-free trial period. While getting as many people to pay is the goal, determining what is free and what consumers
must pay for requires striking the proper balance.
We have decided to hide the automatic alert feature behind a small one-time payment paywall of 1$. The pricing is
not something that will discourage users from using our apps, as they would get other functionalities which requires
them to manually check the prices when suggested, but to automate the process the alert system is behind a
paywall.

App Tie-Ups
In affiliate marketing, you place advertisements for other products in your app and get paid every time a user clicks
on one of the ads and makes a purchase or fills out a form. You'll need to advertise an app to the same target market
for it to be effective.
We have also considered partnership with e-commerce website in order to promote their apps/website as an
alternative platform to buy the same product to the consumer and we can charge the alternative platform a certain
amount of fee for every customer that is poached to their customer using our affiliate links that will be suggested as
alternative platforms when the customer opens up our app to check price history. Sort of like a retail shelf, we can
charge platforms for being in front of the customer while they are browsing a product on a competitor website.

Brand elements
Brand Name: MYPRICE
- The name intends to communicate to the customer that he/she can buy products at their wishful prices
using the app.
Tagline: Buy at your price
- Conveys to customers that we intend to help them in making a purchase decision based on prices

Logo:
 - The logo includes the Name of the app, the tagline and elements
- The elements, Shopping bag and arrow were chosen to aid customers in understanding what the app’s
primary use is and the value add it provides
- Shopping cart indicates that the customer will have a great experience in their buying process
- Arrow is used to indicate that the historical prices of products that a customer intends to buy will be
available for making purchase decisions and also that it is quick
Colour Scheme: Eggplant #2B3252, Red #EF5455, Yellow #FAD744, White #FFFFFF
- Since most eCommerce apps/websites have white backgrounds, our colour scheme will help customers
easily identify our floating icon amidst the clutter.
- The red colour is used to signify passion and excitement in the buyer when they use the app. And also show
that we, as a brand, are passionate about what we do and deliver exciting value to the users.
- The white colour is should indicate that the shopping experience with our app will be simple and that it will
provide clear insights to aid users in making decisions.
- The yellow colour is used to indicate that it will bring happiness to the users when they can see historical
prices and the probability to price drop, thus saving money and bringing happiness to the customer. They
will then enthusiastically use the app as it provides them great value while saving money.
- Brand positioning
- My price is based on the value that customers will be able to toggle through the various apps like Amazon,
Myntra, Flipkart, etc which will give buyers the lowest prices available on the online retail platform and with
the price history that our product is projecting with latest prices of the product is the customer getting a
good deal.

- Identifying the target audience

- After Covid 19 breakout there has been a steep rise in online shopping from customer’s end which hit 2.14
billion in 2021
- Anyone who uses online shopping apps frequently is our target audience. Generally, the brackets like the
poor, middle class and upper-middle-class people who would prefer to buy the product at the right price
rather than at any price are the target audience . 91% of consumers say they are more likely to shop with
brands that provide offers and recommendations relevant to them, and 66% of consumers say encountering
content that isn’t personalized would stop them from making a purchase.
- Millennials are one of the major targets of our product.

Brand uniqueness
- By disrupting the market with price transparency which is nowhere to be found in new and old online
shopping apps we will create a brand identity that stands out from the industry competitors.
- We will use price comparison tabs of other competitors selling the same products. Customers can
differentiate the price ranges with just one click which will give them the best buy.
- With the help of price history customers will be able to know if they are getting the best deals in a given
period.
- This will be an add-on to the shopping experience of the customer.
- The brand statement itself is BUY AT YOUR PRICE. This tells that after surfacing the various apps, our app MY
PRICE will provide customers with the prices of different sellers of apps of the same product

Floating ICON and Instant Sub-

features

User Interface of App

 -

IMC for Branding Website

In services marketing one of the P’s is Physical evidence and website becomes a very important aspect of physical
evidence for a Service. My Price website shall contain information to help the consumer to select the right product
and the right price. The website shall have product comparison, review, filter and spec score to identify the top
products in various categories. The intention for having such a feature is because the perception in the minds of the
consumer should be that My Price provides the best value-for-money offering.
Example Homepage:

Example of product ranking functionality Page:

Social Media
Social Media is playing an increasingly important role in brand communication due to its massive growth. Social
Media comes in many forms but four key options are

1. Instagram
2. Facebook
3. Twitter
4. YouTube

Each social media has different objectives. Twitter for example is for instant grievance redressal as it becomes the
first point of complaint. Companies normally keep a social media handling team for quick responses to such queries.
In contrast, Facebook/Instagram is for longer relationships to communicate brand stories over the long term. To
understand the user in a better way. YouTube on the other hand is a video streaming service as users today engage
with brands on videos and short content hence having a YouTube channel is imperative. Most users looking to
purchase electronic products normally watch a couple of YouTube reviews to tackle the intangibility of buying
products online.
Public Relations
These programs are designed to promote the company’s and individual product image. There is great traction for
online newsletters, and online technology blogs covering new products and technology. Product Hunt is an
aggregator of new products, and there is a large section of the first user community who tries and review the
product. Twitter influencers also have a great impact on introducing new tech products to online users. All these
activities serve an important role – they get people talking. Word of mouth is a critical aspect in brand building as
study after study shows the most trusted source of product information is friends and families.

Following is an example of a Twitter influencer promoting books.

Sponsorship
Developing successful sponsorship means choosing appropriate events or content that has significant positive impact
on brand equity. The ideal target market here watches a lot of product review videos on YouTube hence the initial
sponsorship should be targeted towards such content.