App Plan
- 1. What Am I? An application presentation
- 2. Presented by: Patricia McDonald 91-07 104th Street 2nd floor Richmond Hill NY 11418 845-670-0228 patriciasmcdonald@gmail.com
- 3. Table of Contents Executive Summary Business Description and Vision Definition of the Market Description of the Products and Services Marketing and Sales Strategy Financial Management
- 4. Executive Summary The following presentation was created for an application which will be named “What Am I?”. The name of this application is in conjunction with its intended purpose. “What Am I?” is an idea that was thought of one day when I came across an insect in my home that I did not recognize. I remember thinking,“I wish I could take a picture of this, upload it to the internet and get responses as to what type of insect it is”. Right then, the application’s plan began to take shape. Applications are very popular among wireless device users. The best thought of applications are most popular and those which are not free must have a great concept for a consumer to be willing to purchase them. “What Am I?” will be innovative and beneficial and simplify a consumer’s life. It will take the guess work out of recognizing an object by allowing customers to upload pictures of unrecognizable things and receive relative information about them. Consumers will be able to upload simple pictures like food and animals, or complex picture like rashes and other visible conditions. When applicable, the consumer will be told what steps should be taken next. For example: in the case of a skin condition the consumer may be told if they can treat it with an over the counter remedy or visit a physician. If the picture is of an insect, the consumer will be told what household remedy can be used or that professionals are needed to resolve the problem.
- 5. Executive Summary The target area for “What Am I?” is unlimited because it can be used by anyone who has a wireless, camera ready device here in America and worldwide. It will be priced between three and four dollars (USD) and sales are projected to be enormous based on the extreme popularity of mobile applications. Projected first year sales are well into millions of dollars and expected to have a great run for the five years following release. This project will be put together by Applico, a well known application creating company located in Manhattan, NY. The cost for Applico to create an application of this caliber is $60,000 with completion in six months. Advertising will be done via internet (such as news sites like MSNBC, CNN, & FOX and urban sites like WorldStarHipHop.com, Forbezdvd.com, TMZ.com and MediaTakeOut.com), social media (Facebook, twitter, etc.), television and newspapers. The costs for advertising is around $10,000. Based on projected profits initial investments can be returned within 30 to 90 days after application release. “What Am I?” is the next big application that will change the application world as we know it.
- 6. Business Description and Vision "What Am I?" is a proposed smart phone and tablet application which will be designed to simplify life and provide a new necessity for cameras and recording devices on phones and tablets. The vision for this application is that it will integrate the convenience of a smart phone with appropriate internet sites to help consumers associate with items they do not recognize, without physically contacting a source.
- 7. Definition of the Market This application is geared for the technological market. With the continuing improvements and upgrades being made to wireless devices, this application will be a great addition to electronic technology. This application will target consumers who own smart phones, tablets and any other wireless electronic device which has a camera and internet connection ability. This application will fulfill the needs of consumers who want the ease of knowing what an item is without directly contacting the source.
- 8. Description of the Products and Services An example of how a consumer will use "What Am I?" is: If you notice an unrecognizable bug in your home and would like to know exactly what it is, you will simply send the picture using the "What Am I?" application, which will route the photo to an appropriate internet site and identify the bug along with its history. This process will be used for any photo from foods to skin rashes/ailments to plants and animals. This application will be priced between three and four dollars and is competitive because there is no other known application of this caliber.
- 9. Marketing and Sales Strategy The target market for this application as previously mentioned is wireless electronic devices with camera attachments and consumers who own those devices. Though there is no current demand for this particular application, applications in general are highly popular and the most useful ones are purchased most frequently. Based on the schematics and uses of this application I anticipate there being a very high demand for this product once it is marketed. This application will be advertised via every media outlet including television, internet, radio, billboards, social media, etc. It will be reasonably priced at three or four dollars and be seen as a smart and innovative way of acquiring information through pictures, which consumers take frequently just for fun and sharing. I am aware that there are hundreds of applications available to consumers but this application will stand above the rest because of its unique features and uses. Therefore competition will not be as fierce as it is with game applications, for example.
- 10. Financial Management The company which will be responsible for creating What Am I is Applico located at 220 East 23rd Street New York, NY 10010; phone number: 877-688-7567. Through talks with representatives from Applico, it was determined that the start-up costs for an application such as "What Am I?" is about fifty to sixty thousand dollars. Advertising costs will run around ten thousand dollars. Based on the projected popularity of this application, I have created and attached a chart showing the projected sales/costs/profits expected within the first year. The initial investment can be returned within the first ninety days of the application being launched.
- 11. Illustration