AI Generated Business Plan
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Instant Offer Promotions
- Industry
- retail
- Product Type
- digital
- Problem
- It is difficult for customers to discover current deals and discounts from physical stores and online retailers.
- Market Size & User Personas
- The retail industry is worth an estimated $3.7 trillion in 2020. The ideal users would be those who are interested in deals, discounts, and bargains offered in the retail industry.
- Solution
- An app that provides instantaneous access to local retailers’ offers.
- MVP Features
- A search bar for customers to quickly search for offers near their location, filtering options to refine search results, an account page for customers to bookmark offers, an alert system to notify customers when offers matching their search criteria are available, the ability to easily share offers on social media
- Implementation Details
- The app will be built on a cross-platform mobile development framework, such as React Native, for faster and more cost-effective deployment across multiple platforms. The backend system will be powered by a database, such as MongoDB, for efficient real-time data storage.
- Value Proposition
- Instant Offer Promotions provides customers with an easy way to discover deals, offers, and discounts from their favourite retailers.
- Pain Points to Solve
- The main pain point that Instant Offer Promotions solves is that it enables customers to discover deals and offers from local retailers in an easy and quick manner.
- Sales & Marketing Channels
- The marketing can be done through leveraging the platform of different social media platforms such as Facebook and Instagram, giving discounts to customers who share the platform with their friends, running campaigns on popular media outlets, etc.
- Revenue Stream Sources
- The main sources of revenue for Instant Offer Promotions would be the commission received from the retailers for providing them with new customers and additional sales, the transaction fees charged to customers for any transactions made within the app, and the subscription fees charged for any premium features.
- Cost Structures
- The main costs incurred would be the development costs for the app, marketing and promotion costs, personnel costs like salaries, customer service costs, growth costs, and hosting and server costs.
- Key Activities
- The key activities would include researching, designing and developing the application, testing the application, launching the application, marketing and promoting the application, as well as maintaining and developing the application.
- Key Resources
- The main resources needed to build the application would include a mobile development framework, such as React Native, to build the application, resources related to marketing and promotion, personnel resources such as engineers, designers, etc.
- Key Partners
- The potential partners for Instant Offer Promotions could be the local retailers and e-commerce merchants for whom the app would provide a platform to market their offers and deals.
- Competition Landscape
- The competition landscape for Instant Offer Promotions would mainly be mobile apps, websites, and physical stores that offer deals and discounts on products.
- Competition Advantage
- The main competitive advantage of Instant Offer Promotions would be its ease of use, the ability to filter offers, and the ability to quickly find offers near the user’s location.
- Idea Validation Steps
- The idea validation steps could include usability testing with potential users, researching the competitors, buying similar applications on the app store and modified them, surveying the potential users, etc.
- Potential Business Challenges
- The potential business challenges could include dealing with fierce competition from other established players or new businesses in the industry, technical issues related to the development and launch of the application, and ensuring the scalability of the app to handle large influxes of activity.