HurryBuy - Smart Team: 4th November - Meeting with the Smart Team

We uploaded the 7th assignment in the Commerce Accelerator platform:

Budget for marketing for the first year

Find partners (supermarkets) to start/invest in our idea.

Actually, we know that this kind of idea is already working in some countries, but not like we are developing and we want to start with this in Finland. A lot of people are really interested in use it.

Sanoma organization to accelerate idea:

Infrastructure means

Marketing power

- PR

- Existing clients relation

- Existing technology

- Commercial scale

- Vendor power

Hurrybuy market entry strategy

Help with the payment method

- SWOT analysis

Strengths	Weaknesses
- Personnel: young people with creative ideas, from different countries with different knowledge backgrounds - The business doesn’t require high start-up capital - The idea has been receiving valuable feedbacks and testing the market before launching it in reality	- Lack of experiences in the market segment - From technical point of view, we need more experts in mobile application product - The app needs to be more friendly to users
Opportunities	Threats
- Support from partners - Finnish market is promising - Higher demand of a different way of shopping	- Mobile apps market is extremely competitive - Similar ideas are available but not popular

- Market demand:

+ User’s side: Finnish culture (queuing, punctuality). Finnish people enjoy obeying rules and queuing in public places is their habit and everyone follows that. In addition, Finnish people are very punctual, they always try their best to be on time under any circumstances. Therefore, this app can help people to plan their time better.

+ Supermarket’s side: inventory problem, increasing sales, competitive market, supermarket system in Finland is advanced so they have huge potential and ability to apply innovative way of improving their distribution channels.

+ Feedback from friends and family

Young adults are target market group for shopping online in Finland, therefore data collected from our friends and family is relevant for market research. Among 10 people asked, 9 of them said the app is useful and 7 want to use it.

Problems pointed out:

+ People like to choose the products by their own

+ Once people are just not e-shoppers so they don’t like the idea at all

+ People were wondering whether it is possible or not to have this kind of application become effective and profitable enough in reality.

+ It’s really hard to find partners who trust our ideas at the beginning.

- Strategies:

+ Target market

Busy people who don’t have much time going around the supermarket or waiting in a long line to buy their stuff

Impatient people or ones who want to spend their valuable time on something else more interesting or important for them

People who love shopping online

+ Promotion

Our own website

Explanation video

Through our partners: they can help to spread the information to their customers

Online channels: Facebook, LinkedIn, Instagram, etc.

Offline advertisement: emails, flyers, magazines

- Budget plan for the first year

Service/Product price: Free

The costumer will just pay for the products in self in a way that don't bring risks for him or for the supermarket.

(TIME: 3h)

This was the final day to the voting on the projects that we'd like to see in the Bootcamp. We couldn't vote in ourselves, so we thought that we should vote in the students' projects.

(TIME: 30min)

Today was also the day to meet the Supermarket guy and "sell" him our idea. Unfortunately, right before we went out to meet him, he called us saying that he could not meet us. Either way, he said, there might be another possible interested supermarket: he gave us the contact of the "K Market"'s manager.

Since we have now a new member that is also a coder, Aleksi, he joined us in the coding part and started to take care of the HTML part. (TIME: 2h)

We met Carita Forsgren, our Demola tutor and showed her what we had until now. She also agreed with the creation of the blog. Carita also said that we could improve one of the wire-frames that we did and that we could add there the items that we selected and the final prize, so you can have a best notion of what you are buying.

(TIME:40min)

We also created a script and a storyboard for a possible video or animation and a persona - Amy, after our tutor's suggestion.

(TIME:4H)

"Amy is a modern woman with 35 years old.