Coinops
CONCEPT
§THE BASIC CONCEPT OF COINOPS IS THAT HOW YOU CAN SAVE AND ACUMUALTE MONEY WITH THE COINS THAT ARE OF NO USE TO YOU AND KEEP LYING IN YOUR WALLETS & SIDE TABLES .
§IT HELPS TO ELIMINATE THE NESCESSITY OF HAVING LARGE MONEY TERMS FOR INVESTMENT.
§NOW PEOPLE CAN START SAVING MONEY WITH ONE RUPEE AS WELL.
PRODUCT
§You can save and invest your money on our app. Suppose you buy bread daily for Rs.15 and you pay Rs.20 and in return you get Rs.5 coin. So on daily basis we buy lot of things and we just keep those coins on table, drawer or somewhere else but actually at the end those coins also have some monetary value.
§So basically our app helps to save that money and in future you can invest that money.
§ As our customer base grows in future so will our funds which will enable us to return higher dividends to our investor customers.
TARGET CUSTOMER
§Middle class families who buys daily needs product and easily invest small amount for saving.
§Any customer who wants to save money comes under our target.
§Major focus on millennial.
MARKET INVOLVED
§This product is currently aiming at financial market. Mostly to banking market.
§Our idea will help to change the financial market.
§People can add small amounts on a regular basis our app and then they can SAVE/REDEEM directly from our app.
§Competitors are GROWW, PAYTM, MUTUAL FUND, ETMONEY,GOOGLE PAY,PHONE PAY,AMAZON PAY,BHIM,AIRTEL PAYMENT BANKING.
MILESTONES
▪ Try to link our selves with already existing e-wallets for easy gateway.
▪ After initial brand recognition the plan is to move into other part of country and Increase customer base.
▪ In three years down the line we are planning to invest in safe investment options.
Timeline for the start up
§ It took us around 5months in proper planning.
§ In implementing, it took around 2 months.
§ In testing and simulations it took around 5 months for proper function of app.
§
In legal formalities, authorization and collaboration it took us around 6 month.
§ In launching the whole app with proper functioning it took us around 1year 7 months.
Challenges
Less Awareness Among the Customers About Our product. It will take lot of time while taking survey. Competition from debit and credit cards. Moving beyond core services(Diversification) .
REVENUE MODEL
Charges applied for UPI is Rs.10 and it takes 0.9 percent transaction per head for banking. Expected ARPU will be approximately Rs.250 and estimated yearly revenue is around Rs.1,44,00,000.
FUND UTILISATION
For app development we needed nearly 25lakh. In promotions and marketing we need approximately 5lakh. For data security we need fund approximately 10 lakh. In operations it fund around 10 lakh. In legality with government and companies ,it also fund around 10 lakh.
In total it will fund around 80 lakh approx.
Marketing Plans
We will try to connect with the prospect at the various steps of the customer purchase journey. Email marketing, online ads, podcasts, websites, comparison sites, are all important tools to get in touch and convert a lead into an opportunity.
Emails, chat box and feedback forms will generate first-party data that you can use to get a full picture of your prospect and customer mind set, uncovering purchasing habits.
You need to understand what matters the most to your customers, across every touchpoint with your financial brand. Increase sales and optimize Life-Time Value by keeping them fully engaged.
WORKING
MR. GUPTA IS AN OLD MAN WHO DAILY GO FOR A WALK WITH HIS DOG AND WHILE RETURNING BACK TO HIS HOME HE BUYS BREAD BUTTER AND MILK FOR DAILY CONSUMPTION FROM AGARWAL CONFECTIONERY STORE.MOST OF THE TIME HE BUYS BREAD AND MILK ONLY BUT SOME TIMES BUTTER AS WELL.
MR. AGARWAL ON REGULAR BASIS PROVIDE HIM A BILL.
TONED MILK 1 LITRE =RS58 BUTTER PACK =RS46 BREAD PACK =RS35
TOTAL =RS139
WITHOUT BUTTER TOTAL=RS93
CONTDITION
SO, HE SPEND AROUND RS93 ON REGULAR BASIS FOR HIS DAILY NEEDS.
HE PAYS Rs.100 DAILY AND GET CHANGE OF Rs.7 SO HE RECEIVE COINS AND HE KEEP THEM.
SO, IN ONE MONTH IT WILL BE 7X30=RS210 APPROX
AND IN ONE YEAR IT WILL BE =RS2555
PEST
POLITICAL:
•LINKAGE BETWEEN GOVT. AND FINANCIAL COMPANIES.
•GOVT WILL HAVE RECORD OF EACH PENNY OF THE UNRECORDED MONEY.
ECONOMIC:
•UNCOUNTED MONEY WILL BECOME COUNTED.
•VARIETY OF FINANCIAL RISKS IN FRONT OF IT INCLUDING MARKET AND LQUIDITY RISKS. • INCREASE IN SAVINGS OF LOWER SECTIONS OF THE SOCIETY.
•COMPATIBILITY WILL SIMPLER FINANCIAL PLATFORM.
THUS IT LEADS TO FURTHER DEVELOPMENT IN TECHNOLOGY.
SOCIAL:
•SOCIAL AWARENESS AMONG TARGET CUSTOMER ABOUT HOW TO SAVE MONEY AND ITS IMPORTANCE.
•SOCIAL MARKETING AS ONE CUSTOMER CAN TELL MANY CUSTOMERS IF THEIR MONEY IS SAVED.
•GETTING UNCOUNTED MONEY INTO GOVT. RECOGNITION THUS INCREASING GOVT. REVENUE WHICH CAN USED FOR MANY PURPOSES.
SWOT
STRENGTH:
•MARKET ICLUDES ALL THE INTRNET USERS AND SMARTPHONE USERS.
•KEEPING IN MIND THE GLOBAL MOBILE WORLD, COINOPS IS COMPATIBLE WITH ALL POSSIBLEPLATFORMS ICLUDING ANDROID, BBM, IOS AND WINDOWS.
•WE ARE CONNECTING EACH AND EVERY PERSON OF EVERY SECTOR WETHER ITS FARMER OR LOWER MIDDLE CLASS AND MIDDLE CLASS.
•USP IS FROM ONE RUPEE YOU CAN SAVE AND INVESTMENT.
WEAKNESS (Risk Analysis):
•LOT OF LEGALITY IS INVOLVED AND TRANSACTIONS CAN BE FACE GLITHES BECAUSE OF HIGH TRAFFIC IN FUTURE BECAUSE OF SERVER ISSUE SOMETIMES.
•LOTS AND LOTS OF PROMOTIONAL COST BECAUSE OF LACK OF KNOWLEDGE IN PEOPLE ABOUT OUR PRODUCT.
OPPORTUNITY:
•ONLINE FINANCE SERVICES IS BOOMING BECAUSE OF PAYTM, SO EDUCATED CUSTOMER HAS BETTER UNDERSTANDING OF OUT PRODUCT.
•WE CAN EXPAND TO MUTUAL FUND INVESTMENT AND STOCK MARKET WITH THAT COINS AMOUNT AFTER OUR TURNOVER IS MAGNIFICENT.
•THIS IS THE ONLY COMPANY IN THE INDUSTRY TO INVEST COIN SO WE HAVE FIRST MOVER ADVANTAGE AND WE CAN EASILY ENTERTAIN OUR TARGET CUSTOMER AS WE WANT AND FULFILING THEIR NEEDS.
THREATS:
•DATA IN OUR SECTOR IS VERY VALUABLE SO LARGE DATA ENCRYPTION SECURITY IS NEEDED.
•OUR COMPETITORS SUCH PAYTM CAN EASILY USE THEIR GOODWILL AND COME WITH HIS OWN APP IF THEY LIKE OUR IDEA.
•SMARTPHONE PENETRATION AND MOBILE INTRNET ACCESS PENETRATION ARE REQUIRED AND IN SOME CASES IT CAN BE PRONE TO BUGS
