FLYTE. Inform. Connect. Take Flight.

Transcription

1 FLYTE Inform. Connect. Take Flight.

2 Product Concept A convenient travel application that uses a combination of GPS data, crowd sourcing data, and airline data to provide accuracy in wait times, an ease in airport navigation, and frequent updates to cut down on wasted time and money.

3 Prototype

4 Partnership Airlines Airports Provide frequency and accuracy of data Provide frequency and accuracy of data Provide accurate information regarding: Provide accurate mapping within and Gate Information Flights times and delays outside of the United States: Security lines Gates Services

5 Core Technology Within the Application GPS data, crowd sourcing data, and airline Outside the Application data Server connected to the internet that sends and receives requests for data Portal to display relevant information for Database to store all of the data the user from the database Server communicates with: GPS tracker and receive basic flight Application information from user 3rd party sources that would send additional information (APIs) FLYTE s database

6 Pricing Strategy Free to download application Competition is free Allow people who download application to see the value- frequent/ accurate data Funding: Angel Investors who see value Grants As downloads increase, Location-Based Advertisements and venture capitalists Future Projections: Premium option for travel assistance for $1.99

7 Testing Plan Alpha Testing Help develop marketing mix Test out product within company to find issues that need to be solved Beta Testing Refine target market and further develop the marketing mix Launch in app store- allow users to try it out while traveling Further advertise in airports to gain awareness Use feedback to better the application

8 Content and Advertising

9 Pre-Launch Content Search Engine and App Store Optimization Take FLYTE Blog Website Subscription Newsletter Beta

10 Launch Content App store page Shift in Blog content Website changes Various advertisements

11 Post-Launch Content Build up our community in the application Retarget

12 Target Markets 870,000,000 people took flight in 2014 Business traveler traveled 13 times a year 488,000,000 were for business Avg age: 46 Millennials Travel quarterly

13 Millennials The millennial generation is growing up in a technologically advanced world where traveling and communication go hand-in-hand and are easier than ever before. - Tanya Mohn, Forbes 2014

14 Millennials 42% of travelers use smartphones to book or plan their trips Target: Leisure Pre-Travel Planners: Business Travel: Million trips Leisure Travel: 1.7 Billion trips 79% of domestic trips 47% of US travelers = Millennials Affluent families: college degree 43% using their phones every five minutes

15 Advertising Campaigns Billboards Airport advertisements Instagram Travel sites and forums

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18 Costs $.5 million total $4,000/month for billboards $1,000/month for airport ads 6 months 6 months $250,000 for online ads Over one year

19 Funding Angel Investors Venture Capital Firm Total $2.5 million 49% stake in the application

20 Profitability Location Based Advertising there s tremendous potential and hunger by advertisers to be spending on mobile. It s relevant which will translate to success

21 Acquisition In 2013, Google bought Waze for $1.15 billion Our conservative estimate: $175.2 million This gives the venture capital firm an ROI of over 4 years Put s $89.35 million in our pockets

22 Retention Strategy Retention Rate: 20% after 90 days 80% deleted within 90 days Maintain a High Retention Rate Individualization Emphasize on value proposition

23 Retention Strategy Individualization Emphasize Value Proposition Interactions tailored to preferences, From home page to all following pages locations and in-app behavior Clearly and quickly emphasizes and Retaining user s flight information Connection with other travelers with aligning itineraries exhibits offerings: Inform. Connect. Take Flight.

24 Which innovation strategy to adopt Open Innovation Already value users input inside the app with crowdsourcing data Want to create a way for users to suggest and share ideas about the evolution of FLYTE Create a culture of loyal users who value the app

25 Where To Go Next France Specifically Paris Largest amount of Waze users in Europe Charles De Gaulle Airport Second biggest in Europe Top 10 in the world Perfect place to advertise

26 Domestic vs. Foreign Marketing French are punctual -- like to be on time French rely on word of mouth and logical appeals Crowdsourcing data Problem: Surveys show french think advertisements can be manipulative and sometimes vulgar Heavy focus on Charles De Gaulle airport where not everybody exposed to our advertisements would be french

27 International Pricing Strategy Geocentric Pricing Considers the importance of local markets Recognizes that local prices need to support global strategy objectives Why? App store varies between countries due to variations with: Necessary taxes, inflation, differences in competition, shifting dollar conversions, and many other factors

28 The bad news is time flies. The good news is you can be the pilot

29 Thank you!