NMIMS Case Discussion 3 – 2018-20 Batch Prep : Launching a social network

This topic contains 24 replies, has 11 voices, and was last updated by  Aarathi Krishnan 10 months, 2 weeks ago.

  • Author
    Posts
  • #9867
     Abhirup Bhattacharya 
    Keymaster

    You have been appointed as the marketing head of a startup : Xian Inc. The company aims to create a social network and compete with the likes of Facebook and Twitter. The CEO has sought your views on the matter regarding the perfect strategy and budget looking at a 3-year projection. Xian is also planning to raise money from angel investors. It has recently succeeded in creating a one-of-a-kind smart band that allows users to communicate through voice messages. The team is new and marketing team needs new resources. Can you help the CEO ?

    Founder , Ideasmakemarket.com
    MBA Finance, NMIMS, Mumbai 2011-13

    #9868
     parul singla 
    Participant

    hello friends

    The case given to us is about a new firm Xian Inc which is recently succeeded in creating a small band and now  aiming to compete with facebook and twitter by creating its own social networking site.The main issue lies at raising new resources. As a marketing head ,I would like to highlight some steps of action.The company has a great reputation because of its success in smart band that allows user to communicate through voice messages.So Its users from previous product can be of great use as they are satisfied  with the company and has its trust. it can explain its new idea to its clients and investors and convince them by telling  about its past perfomance and how this new idea will be helpful for both company as well as investors.second, the company can tell what extra feature it has than fb and twitter and can target youth and spread a questionnaire regarding its social site and can use this information in convincing large investors. The company can also go for online funding.Third,it should build a strong team, being human resource is the main asset f the company ,which has full knowledge and conduct a seminar where big investors,fund providing organisations are invited.A strong team will be really helpful and can strongly convince investors.

    #9869
     Abhirup Bhattacharya 
    Keymaster

    This case needs lot of analysis. You have touched several points, but it is not enough. Hoping others to follow the lead.

    Founder , Ideasmakemarket.com
    MBA Finance, NMIMS, Mumbai 2011-13

    #9870
     parul singla 
    Participant

    sir no points?

    🙁

    #9871
     Abhirup Bhattacharya 
    Keymaster

    Nope. The start needs to be better. You have just written the case again. 🙂 Think more…. how you can implement

    Founder , Ideasmakemarket.com
    MBA Finance, NMIMS, Mumbai 2011-13

    #9872
     Priya Gupta 
    Participant

    Hello All,

    In the case being discussed, the company aims to create a social network and compete with already established brands like Facebook and Twitter.

    For establishing a brand in such a competitive market, first step should be to analyze the marketing strategies, offerings and limitations of the competitors. The company can take advantage of that and project its competitive edge too the consumers. For example, Twitter has a limit of 140 characters per message. The company can offer unlimited messaging to the costumers.

    For new startup, branding is very  important. Company should hire a public figure, who already has huge fan following and can influence the consumers’ choice significantly.
    <p style=”text-align: left;”>In addition to this, company needs to raise money, it should offer good returns to Angel Investors. It has launched a one-of-a-kind voice messaging brand, so engaging with it would benefit the company by gaining costumer faith and loyalty.</p>

    #9873
     Abhirup Bhattacharya 
    Keymaster

    Good start. Liked the approach. Not the perfect one. Competitor analysis and returns for investor are areas you touched upon. +2

    Founder , Ideasmakemarket.com
    MBA Finance, NMIMS, Mumbai 2011-13

    #9874
     Rahul Arora 
    Participant

    Since the aim of the company is to create a social network and compete with the likes of Facebook and Twitter. As a marketing head of the company, I would like to suggest a few points:-

    1) Organizing Customer Survey:- First of all knowing our customers is very important for us. We can ask them various questions like how much time they spend on facebook/twitter? What do you want from a social media platform? Age? etc. We can also collect their emails. and once our platform is ready then we can send personalized emails to join our platform.

    2) Organizing Various Events:- We can organize special events in various cities regarding our one of a kind smart band and provide a hand on experience to our guest. We can also inform them about our new social network platform.

    3) Viral Marketing Campaign:- Once our platform is ready for launch then we can do a viral advertising campaign through television, internet, hoardings across various cities.

    4) Organizing Giveaways and Referral Campaigns:- Company can also organize online giveaways/ contests for highly active users and reward the users who successfully invite their friends.

    5) Collaborating with influencers with a lot of following on other social media platforms by inviting them to use and promote our platform.

    #9876
     Abhirup Bhattacharya 
    Keymaster

    Well done !! @ Rahul. Nice structured.Missing out on budget though. Also no mention of how you will consider your team and investors. +4

    Founder , Ideasmakemarket.com
    MBA Finance, NMIMS, Mumbai 2011-13

    #9878
     Skill it 
    Participant

     

    1. In the 3 year timespan first year concentration should be on fundraising,development, testing.second and third for innovation and improvement
    2. Customers of smart band can be asked for suggestions and requirements regarding the new project.as they are happy with the smart band they would be proactively participating
    3. Team should be built by advertisements and also employee referrals schemes to angel gruop’s employees as they already have experience in the field…they would have friend circle belonging to the same.
    4. For more investments and advertisements deals should be made with angel group for providing free communication for their company once the project is on board…and mutual workforce support can be utilised with that of smart band
Viewing 10 posts - 1 through 10 (of 25 total)

You must be logged in to reply to this topic.

©2018 IdeasMakeMarket.com India's Finest Management Portal. IdeasMakeMarket and its logo are registered trademarks.

Log in with your credentials

Forgot your details?