Business plan Essay
Introduction BralnPlus Is start-up online business brain tralnlng game focused on person who eeds to enhance and improve their brains in the area of memory, attention and problem solving skill. The games are consisted of more than 25 training fitness games to challege cognitive abilities in our brain. The company was established in the beglnlng of 2014 with five co-founders from various expertise backgrounds. BrainPlus also has the professional team and staffs with over 8-10 years experiences in each section to support our business.
The company has a small office where was to the beginning of business. Since, we are online business and the startup company thus it would help us to minimize the cost for rental fee. . Executive summary BrainPlus is a first mover in online fitness brain game offering cognitive training of brain health in Thailand. The company has five co-founders who they are Dr. Daniel Brown, a neurosciene PhD from Standford University in field of development human cognition brain from United State, the second is Ms. Katarina who is specialize in Information technology from Slovakia.
The rest three persons are from Thailand which are Ms. Rattana, Mr. Astra and Ms. Wannasorn. Ms. Rattana will be concerning in Accouting
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As we Just start up our online game business in Thailand, we are located in Bangkok area at Dr. Danial Brown house. Our company will be focus on Thai audiences who have 25 years old upward and income around 20,000 Baht per month. However, we would be expand market share to Asian countries in order to generate more revenue nd serve demand of the intention for Asian people who would like to practice and develop their mental skills and brains. The company also expects to capture market share by to be the first online training game in Thailand and a leader in this type of business in Asia.
This is because we are different from many online games like Nintendo and Sudoku in term of prove and evidence from scientific researcher. Our advertisings are mainly through Internet and social media such as Facebook, Sanook. com, Kapook. com and search engine. 3. Mission a. Mission and vision Mission Nowadays more and more people are paying attention to healthy lifestyle, including health eating and adequate amount of physical exercise. Whereas brain, similarly as provide the customer an option to develop brain activity also in parts, which are not used daily and to subsequently track progress.
Vision Within Thai market it is important for us to ensure stability and afterwards expand our customer base. Opportunity for the future represents possibility to expand to other markets of East Asian region and to become leaders in this part of the world. b. Objectives/Goals Goals Short-term 1) To increase awareness of non-user toward Brainplus. Long-term 1) To improve customer service and product itself. 2) To increase sale revenue by expansion market to Asia. Objective 1) Create customer knowledge about how important of brain improvement. 2) Install customer tracking software. c.
Keys to success The keys to success for BrainPlus are: 1 . Continuous development of new brain games that will ensure permanent attractiveness of the BrainPlus to customers. 2. Effectively establishing reputation as an exceptional company. 3. Cooperation with researchers, scientists and universities with the aim of improving games. 4. Simple design and ease of use of the web site noticeable. . Leaderboards which allows the customers to compare their scores with other registered users scores d. SWOT analysis e. Strategies Loyalty program We will choose 2-3 games in each month for competition.
The winner, who got the highest score in that game at the end of the month, will be received 10 – 20 percent discount from BrainPlus in the next payment for subscription. Winner are classify into three ranks, the first place will receive 20 percent discount and so on. This will help boot more and continue subscription from the customer. To create for long term relationship with the current customers To increase sales rom subscription. To create BrainPlus awareness toward our current customers and their friends or relatives. Strategy BrainPlus give subscription discount for the winner in order to maintain good relationship with customer.
Internet 1 . Apply Google Ad (SEO) word to the website by using keyword “Brainplus, improving brain, game. We allocated the budget to this medium fund about 40,000 baht/ year. 2. Ad-banner for linking to the brand’s website in http://www. kapook. com (in health section) and http://www. sanook. com. We will use banner ad in the whole 1 year with the total budgets around baht/ year) Social media As nowadays, Facebook is the most popular social networking website that people can chat, share their interest comments and positive experiences there.
So, we will promote information of our company and inform people about BrainPlus and providing researches which can prove that our games have high quality, also can improve users’ brain function via Brainplus’s Facebook fan page. Moreover, people can communicate and share their results directly with the company and friends. Blogger and YouTube channel We will invite blogger who is famous in enhance and improve their potential brains n the area of memory, attention and problem solving skill to play our games. Hire YouTube channel about game reviews our games to catch up consumers’ attention.
We expect that these two channels can play an effective role to get high reputation. and learning, and Uncle Pee channel who famous in game review. Event To create awareness on BrainPlus toward Bangkok aged from 25 years old above who concerns about health and want to retain their mental faculty as long as possible. To create brand awareness, brand knowledge, and brand experience of BrainPlus – To promote the BrainPlus to be well known and reliable web site as training brain ame. – To boost up the Brainplus sales during the campaign period.
We will Join the event as one of exhibitor to introduce BrainPlus benefits toward the event visitors – Give visitor discount for subscription. Free testing game Free giving cup, pen and brochure about brain care knowledge with BrainPlus logo as the specialty product. Tactics In the first 2 months, we have to finish all of the responsible website and create our fan page in Facebook under the URL of facebook. com/page/BrainPlus – Two weeks before the events, we plan to invite the visitors to participate out booth by posting the invitation card in the fan page of each event.
We will introduce our self about who we are and for the people who accept our invitation by click like on fan page, they can print out the gift voucher and show to us in the event to get a gift bag for free. – In the event day, we will give a free game sample to the visitors at the same time we will give them flyer the information about BrainPlus and BrainPlus benefits. On the top of flyer, we will also provide some special discount in QR Code. The visitor Just screen the code, they will get 10% discount for the subscription. There is the event that BrainPlus can Join during the year 201 5 Thailand Game Show
Big Festival @Royal Paragon hall (March 17- 19,201 5) Cost 30,000 baht/ year BrainPlus represents a simple online tool allowing anyone to exercise variety of core cognitive abilities. It offers a brain training program consisting of 25 funs and challenging games focusing on different areas: Attention, Flexibility, Memory, Problem solving and Speed BrainPlus offers after a short registration personalized program as well as the opportunity of tracking progress since Just 1 5 minutes training per day can lead to improvements in mentioned areas.
It has a social layer too, so the customer can easure his or her results and progress against what other users are doing. Since the BrainPlus operates as a responsive site, customers can choose whether to train on the computer or on mobile device and still enjoying the same pleasure. 5. Revenue sources BrainPlus is basically free of charge for sign up as a basic membership and also offer free five days of trial training brain game.
After five days of the individualized training plan developed upon first registration, our company is use of subscription services as a major revenue model by offering users or subscribers have to pay a fee o access all training exercise games in the website by monthly, weekly, yearly and lifetime membership. Subscriptions are not only our revenue sources because our company also generate revenues by letting advertisers to advertise in our web site, which means the company will get the revenue source from advertisement fee.
Revenue Payment BrainPlus uses credit card as payment method. 1) Login by I. D 2) Chooses payment term by monthly, yearly 3) Choose credit card and payment method. 6. Future growth opportunities As we are the first brain training game program business in Thailand and first mover n Asia, we are thinking about expansion of our target groups that can serve all ages starting from five years till 75 years old because now our focus audiences are 25 years old upward because some games are not suitable for kids.
So, we are trying to develop our games to be more fun, challenging and interesting to learners of all ages in the future. Moreover, in 201 5 our plan for future growth opportunities are to gain more incomes and attract more consumers and users by launching an application on mobile platform both IOS and Android which we considered of the growth of using smartphones and tablets in Asia Pacific.
Asia Pacific smartphone penetration is highest in Hong Kong and Singapore at 87 percent, followed by Malaysia (80%), Australia (75%) and China (71 Penetration in developing Asia Pacific markets, while trailing the more developed markets in the region, is gaining traction; Thailand’s smartphone penetration is at 49 percent followed by Indonesia (23%), India (18%) and the Philippines (15%). Tablet ownership has recorded significant growth in many Asia Pacific markets in the past year, in particular Singapore (up 30 percentage points to 47%), Hong Kong (up 27 points to 57%) and Malaysia (up 23 points to 42%). ttp://www. nielsen. com/ph/en/insights/ news/2014/asian-mobile-consumers. html) In addition, BrainPlus is looking beyond Thailand to reach a broader audience around Asia like China, Japan and Malaysia. We are plan ahead in future opportunities to develop our website to have more languages in next 2-3 years that it will help to reduce languages barrier and we hope international users can get through and really understand the game to enhance their mental fitness.
Moreover, we are also looking for a sponsorship by Thai government to promote Thai people that may emphasis on teenagers to improve their cognitive evelopment in terms of memory, attention and creativity. a. Market analysis Market trends Customer analysis As nowadays, people have care more about their healthy, not only their body shape but also including brain function. Also, as a number of using smart mobile phone increase, people always spend their time on smart mobile phone in daily. Each day, they would got many information from the social network or internet which may be junk information or good information.
Imaging that you have to do multi works and update thing around, it would make your brain cannot concentrate on one thing or any things in same time. So, they tend to find some tools that could improve their brain concentrated such as meditation which would prepare them for working and successful in multi skill tasks. As figure tablel and form the research, the elderly or those aged 60 years and over in Thailand, they found that an increasing number of Thai elder each year is growing, making currently Thailand is a society of seniors.
And the working population or labor force survey found that in year 2556, there were 3. 45 million elder workers from the total 9 million elders, or 38. 3 percent of the total who were still worked. It can estimate that in the future, Thai people at ages 65 or above are still planning to be working as the number of the older is increased. And because of health concerns and people waiting to retain their mental faculty as long as possible, it makes the brain health business is growing steadily.
Furthermore, in this age of multimedia consumption, consumers are using more devices across a common set of platforms to do more things than ever. It means that customer can access to our game everywhere. Moreover, with the capabilities of smartphones increase, both in terms of features that comes with the smartphone and the ability to ontent to the internet more convenient. Nowadays, smart phones become the media that adult spend time for 23% in each day. http://service. nso. go. h/nso/nsopublish/themes/files/elderlywork56. pdf http:// thumbsup. in. th/2014/04/smartphone-media-time-spend/ Tablel Five Forces Analysis Buyer power (Moderate) For bargaining power of buyer, BrainPlus has a competitive prices range compare to other competitors. Secondly, the standard of English language for most elderly Thai people is quite below which it can create the competitive advantages to generate more revenue from this source. However, most Thai people has low income, they may not subscription our website.