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  • Dumaguin Entech30 Elep09 Casestudy1

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    Mike Dumaguin
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    Lee is facing several issues with the Flipz app including a lack of formal training in app development, needing a stronger development team, and difficulties with listing and finding items for sale on the peer-to-peer marketplace. She also lacks funding from investors due to perceived lack of novelty and market opportunity. While there are challenges, there remains a business opportunity for Flipz if Lee focuses on digital marketing to reach a targeted audience cost-effectively and continues working to improve the app.

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    Lee is facing several issues with the Flipz app including a lack of formal training in app development, needing a stronger development team, and difficulties with listing and finding items for sale on the peer-to-peer marketplace. She also lacks funding from investors due to perceived lack of novelty and market opportunity. While there are challenges, there remains a business opportunity for Flipz if Lee focuses on digital marketing to reach a targeted audience cost-effectively and continues working to improve the app.

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    242 views3 pages

    Dumaguin Entech30 Elep09 Casestudy1

    Uploaded by

    Mike Dumaguin
    Lee is facing several issues with the Flipz app including a lack of formal training in app development, needing a stronger development team, and difficulties with listing and finding items for sale on the peer-to-peer marketplace. She also lacks funding from investors due to perceived lack of novelty and market opportunity. While there are challenges, there remains a business opportunity for Flipz if Lee focuses on digital marketing to reach a targeted audience cost-effectively and continues working to improve the app.

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    © All Rights Reserved
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    of 3

    MIKE DEXTER G.

    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.

    The benefits of digital marketing include:


    ✓ Global reach
    ✓ Lower cost
    ✓ Trackable, measurable results
    ✓ Personalization
    ✓ Openness
    ✓ Social currency
    ✓ Improved conversion rates

    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

    b. What are the issues that Lee is currently facing?

    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

    c. Is there a business opportunity for flips?

    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.

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