Our goal is to use the best technology possible to enhance consumer’s life through a database that filters many coupon sites so that the customer gets the best deals possibe that are personalized to their needs and wants. Our market is individuals, male or female, who are typically but not exclusive to the age range of 16-60. Our demographic is within Calgary limits to start with. We also offer outstanding customer service through loyalty programs and discount prices. We will gain customers interest through various social media outlets such as facebook, twitter, and other areas. We will have search engine optimization to gain mass publicity. What differentiates us from other deal sites is that instead of competing against all of them, we are compiling all of the websites in to one. We are working with the competition, therby eliminating them as competition. We want to make our website not only the best, but we want to make it a brand: a one-stop shop for coupons on the web. We want to create a buzz in Calgary that is contagious and eventually has no choice but to spread outside of Calgary. Our goal is to be a revolutionary site that catches on with minimal marketing.
Making the most of your dough
Welcome to mido
Welcome to mido
Tuesday, September 27, 2011
Executive Summary
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I think we're on the right track with the business model so far. We will need to take a deeper look into all the aspects of the venture.
ReplyDeleteIt will be interesting to hear the comments when we start doing the hypothesis testing. Speaking of which, how do we want to go about doing that? What kind of people do we want to test etc...etc...Classmates?Family?Friends?
As far as the alternatives go for mido, I think we could expand our revenue streams and prepare different offerings through the website. Wether that's offering memberships, or having some sort of personal account people could use. If they buy a certain amount of deals they get a better percentage off the retail price.
Another option we could offer is categorize different experiences and if a person takes advantage of say 5 categories they get more discounts.
Example: Adventure, Dinning, Clubs, Retail stores, and beauty could be the different categories that people could try to achieve to get better discounts. This would force people to try new experiences. Then again, the point of mido is to filter the things you want. Thoughts?
I like the idea you guys are rolling with, my suggestion is to check out www.redflagdeals.com if you haven't already. It is essentially a site designed to find deals for people in Canada. They also have a forum so members can post deals as well.
ReplyDeleteIn a world of so many coupon sites and sites where you can bid on items for very low prices, how are you going to differentiate yourself enough to compete? You mention compiling all the sites together into one big one, but how do you know for sure companies like groupon or amazon want to be thrown into one big site? I like where the idea is heading, but maybe there is a better route in creating a coupon site that is strictly revolving around social networking and media. Sites like groupon have the coupon website market well within their control, but there is a missing link for social networking sites to couponing. maybe a potential for your group to look into.
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