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Dumaguin Entech30 Elep09 Casestudy1
Dumaguin Entech30 Elep09 Casestudy1
DUMAGUIN
2019-101289
TECHNOPRENEURSHIP ELEP09
CASE STUDY
WAC 1: The Founding of Flipz: Living the Entrepreneurship Dream?
Guide Questions:
a. What do you recommend that Lee should do? Should she spend the remaining funds on marketing or
product development? Should she continue working on the start-up or should she call it quits.
Answer:
In my opinion Lee should spend the remaining funds on marketing the flipz app. Because I believe once
they use the right strategy for marketing and found the right target it will be easy for them to promote and get
a larger audience that will later download their application.
First, winning the hackathon helped to generate buzz around the launch and the founder’s frequent visits to
flea markets and strong ties to the blogshop community also contributed to its popularity but after few months
the number of daily app downloads had shrunk to single digit.
So, I suggest developing a digital marketing plan. Because digital marketing benefits businesses of all sizes
by giving access to the mass market at an affordable price. Unlike TV or print advertising, it allows truly
personalized marketing. The main advantage of digital marketing is that a targeted audience can be reached
in a cost-effective and measurable way since Lee does not have enough budget for the promotion. Also,
there are other digital marketing advantages that includes increasing brand loyalty and driving online sales.
Therefore, Lee and Chan should continue their start-up because "There are two types of people who will tell
you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you
will succeed."
-- Ray Goforth
MIKE DEXTER G. DUMAGUIN
2019-101289
TECHNOPRENEURSHIP ELEP09
Answer:
The developers of Flipz are facing lots of issues in their application. These include App Development,
Investors, and Personal Perspective
App Development
• Lacks formal training on how to design or develop a social app.
• Needed a development team with stronger coding expertise and to outsource
development to another software company.
• Difficult to list items for sale and to find items to buy in a peer-to-peer marketplace.
• Marketplaces are very disorganized, unlike a store where items are curated, and
displays are thoughtfully organized.
• Scams and personal safety are also a big concern. You cannot verify that the item
is accurately described by the seller and the person you are meeting could easily
steal your items, your money, or worse - harm you physically.
• Sending items by mail is also difficult because they could get damaged or lost in
transit and it will be a mess for buyers and sellers to sort out.
• Very limited market space that is already dominated by the major players.
Investors
• Lacks novelty and market opportunity. Therefore, entrepreneurs, and professors
rejected grant applications.
• without the additional funds, they would not be able to continue product development
and would have to shut down their operations before the company was even officially
incorporated.
Personal
• Lee had trouble convincing her parents to support her decision to become an
entrepreneur.
MIKE DEXTER G. DUMAGUIN
2019-101289
TECHNOPRENEURSHIP ELEP09
Answer:
Based on the initial status of the flipz application I can say that there is still a bigger opportunity that
is waiting for them. Here are the lists of some advantages of having an online business application based
on Small Business Trends.
✓ Always increase Visibility to Clients
✓ Market More Directly
✓ Provide Your Customers with Value
✓ Build Brand Recognition
✓ Increase Customer Engagement
✓ Stand Out from the Crowd
✓ Increase Customer Loyalty
✓ Most People Are on Mobile
I also believe the difference between successful people and everyone else is that the successful people
learn from their mistakes and move on. They do not dwell on failure, blame the economy, curse their bad
luck, or blame other people for their fate. If the path to their goal is blocked, they look for an alternate
path or sometimes choose a different, more attainable goal. You are a risk-taker! Remember, you did not
get into business ownership to be safe. I remember Bill Gates dropped out of Harvard to found Microsoft.
Just always remember what got you into this business you love in the first place.