Novedge - App Idea
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Novedge aims to provide customizable phone themes, wallpapers, ringtones, and features through a freemium mobile app. It will allow users to customize their phone experience and purchase content from independent artists. Novedge plans to launch its app within 3 months and reach 500,000 users in the first month through targeted marketing at millennials. It will generate revenue from ads, premium subscriptions, and commissions on sales through its platform.
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Novedge - App Idea
- 2. EXECUTIVE SUMMARY Users are continuously trying to change the look and feel of their phones. They want trendy designs, new experiences and customized content.
- 3. EXECUTIVE SUMMARY Novedge aims to provide a rich environment for users to find themes, wallpapers, ringtones, widgets, features, extra settings etc. Customers can customize these features and settings according to their needs.
- 4. EXECUTIVE SUMMARY Novedge works on a freemium model. Free users get basic content with ads, while premium members get unlimited content without ads. Free users can avail customized content only 5 times, while there is no such restriction on premium users
- 6. COMPANY OVERVIEW Novedges core competencies are innovation and execution. Our strengths lie in our product offerings and user experience.
- 7. COMPANY OVERVIEW Novedge aims to provide customizable themes, designs, layouts, templates, widgets, features etc. through a rich user interface that is simple and easy to use.
- 8. COMPANY OVERVIEW Apart from in-house products, Novedge will be a platform for artists, musicians, designers and programmers to showcase and sell their work. The company will have 100% profit margin on in- house products and 40% of the net profit on external-product sales through the platform.
- 9. SITUATION ANALYSIS COMPANY OVERVIEW The company will be following a freemium model. Keeping in line with the competition, Novedge will be moderately priced for premium members
- 10. SITUATION ANALYSIS MARKET OVERVIEW The target market segment for Novedge is the millennial generation, i.e. people in the age group 17-39 as of 2017. At present the main competitors to Novedge are Nova-launcher and Zedge.
- 11. SITUATION ANALYSIS TARGET CUSTOMERS The target customers for Novedge include millennials i.e. people in the age group 17-39. A small portion of Generation X will also form the target market for Novedge.
- 12. GOAL Novedge aims to reach 500,000 users within the first 30 days and 3 million users in the first year. The company aims to breakeven in the first FY from ad revenues and premium purchases.
- 13. STRATEGY TARGET MARKET Customers Customers would be millennials who are technologically inclined. Apart from millennials the company will also focus on Gen X customers to some extent.
- 14. STRATEGY TARGET MARKET Collaborators The collaborators include designers, artists, musicians, programmers, app-stores, web- hosting services etc. The company will rely on 3rd party businesses for outsourcing ancillary products and create core offerings internally.
- 15. STRATEGY TARGET MARKET Company The company core team will consist of the Founder-CEO, Technical Head - CTO and Marketing Head - CMO. Equity will be shared amongst the core team after VC shares and ESOPS.
- 16. STRATEGY TARGET MARKET Competitors Existing competitors include Launcher apps like: Nova Launcher, Apex Launcher, Google Now, Hola Launcher etc. In the wallpaper and ringtone segment Novedge faces competition from Zedge, Mobile9, Cellsea, Audiko etc.
- 17. STRATEGY TARGET MARKET Context It is estimated that by 2025 there will be 4.7 billion Internet users worldwide, out of which 2.87 billion would be smartphone users. Thus the mobile app market is going to grow extensively and is valued to become USD 101 billion by 2020.
- 18. VALUE PROPOSITION Customer value Customers get exclusive themes, wallpapers, ringtones, features, widgets etc. They have the opportunity to customize the content available to them. Novedge provides a platform to buy themes, wallpapers, ringtones etc. from artists and designers. They can directly interact with artists and designers.
- 19. COLLABORATOR VALUE Artists, musicians and designers can showcase their talent online. They can directly interact with prospective buyers and provide custom designed content for them. Programmers can create features, functionalities, widgets, extra settings etc. and sell them through Novedge.
- 20. COMPANY VALUE Novedge aims to hire 50 employees in the first 30 days, in marketing, development, design and IT profiles. Since the company drives its growth from innovative design and technology, significant investment in R&D is required. This cost is recovered from ad revenues and premium purchases.
- 21. TACTICS
- 22. PRODUCT The product will feature separate tabs for wallpapers, themes, designs, launchers, ringtones etc. Each tab will have in-house and sponsored listings interspaced with ads. Premium customers will have a tab for designer interaction that allows them to customize their content.
- 23. SERVICE The platform will work as a market place for designers, musicians, programmers etc. Customers can choose from a wide variety of reliable products that have been tested internally by Novedge Sellers can use the platform as a single window to a large user base that is technically inclined.
- 24. BRAND Novedge derives its name from Nova and Zedge its two major competitors in the market. But it also signifies innovation and technology and implies a new edge. The company slogan would be Innovation everyday which is in tune with the market position and brand equity that the company aims to achieve.
- 25. PRICE Novedge will follow a freemium model. Basic services and 5 free customizations will be offered to users, post which they will have to become premium members to avail customization services.
- 26. PRICE Premium members will have to pay $2.99 for a yearly subscription and will be able to remove all ads. The price is competitive compared to Nova Launcher which charges $4.99 for premium services.
- 27. INCENTIVES For the first 30 days post launch, premium services would be offered at $0.99. These users will be able to buy a 5 year membership at $3.99.
- 28. INCENTIVES Novedge will provide premium memberships for user referrals and monetary returns for seller referrals. For the 1st year sellers can register and sell products on Novedge for free without any fee.
- 29. COMMUNICATION The key channels of communication would be the company website, its social media channels, newsletters, emails etc. All important updates would be messaged to users through the app and users can subscribe to mails from Novedge. Customers can contact Novedge through the app via chat.
- 30. DISTRIBUTION The app would be listed on prominent app stores like Google Play Store, Apple App Store, Amazon App Store, Jio App store etc. Apart from these sources the .apk file would be available fro download from the Novedge website.
- 31. IMPLEMENTATION
- 32. INFRASTRUCTURE The core team would be in-charge of all operations. The CTO would be leading the app development and design. The CMO would handling the product marketing and the CEO would be supervising the company operations and handling finance.
- 33. INFRASTRUCTURE Initially servers will be purchased by the company to launch the app and subsequently data centers will be set up for expansion. The company will work with designers, musicians, artists etc. to create customized content
- 34. PROCESSES The business processed involved are : Idea Management Specifications Road mapping Prioritization Delivery Analytics & Experiments Customer Feedback
- 35. SCHEDULE The development phase would involve app development, alpha and beta testing stages. During this period content like wallpapers, ringtones, themes etc. will be produced in- house. The development phase would take 3 months during which the collaborators will be trained customizing content based on user needs.
- 36. DISCLAIMER This presentation was created by Karthik Prasad, BITS Pilani Goa, as part of a marketing internship under Prof. Sameer Mathur, IIM Lucknow.