ENTREPRENEURSHIP AND SMALL MEDIUM ENTERPRISES MANAGEMENT group 7 diet app lili

One of the most popular features of a diet app is the ability to record the amount of food you eat, track your workout routines and view the nutritional information.. Android-1.2 Vision

FOREIGN TRADE UNIVERSITY FACULTY OF BUSINESS ADMISTRATION

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ENTREPRENEURSHIP AND SMALL & MEDIUM

ENTERPRISES MANAGEMENT Group 7: Diet App LiLi –

COURSE CODE : QTRE412.1

INSTRUCTOR :

PhD Tran Minh Thu

Hanoi, 05/2021

Contents

Chapter 1 Strategic Plan 4

1.1 Idea description 4

1.2 Vision and Mission 4

1.2.1 Vision 4

1.2.2 Mission 4

1.3 SWOT analysis 4

1.3.1 Strengths 4

1.3.2 Weakness 4

1.3.3 Opportunities 4

1.3.4 Threats 5

1.4 PEST analysis 5

1.4.1 Political 5

1.4.2 Economic 5

1.4.3 Social 5

1.4.4 Technological 6

1.5 Competitors analysis 6

1.6 Market determination 6

Chapter 2 Marketing Plan 7

2.1 Market analysis 7

2.2 Competitors analysis 7

2.3 7Ps Marketing Mix 7

2.3.1 Product 7

2.3.2 Promotion 8

2.3.3 Estimate Marketing budget for 1 year 8

2.3.4 Price 9

2.3.5 Place 10

2.3.6 People 10

2.3.7 Process 10

2.4 Questionnaire 11

Chapter 3 Operational Plan 12

3.1 Facilities 12

3.1.1 Types 12

3.1.2 Business location 12

3.2 Production process 12

3.3 Evaluate, improve and ensure operational activities 13

3.3.1 Planning 13

3.3.2 Testing mechanism 13

3.3.3 Productivity index 14

3.3.4 Time control 14

Chapter 4 Human Resources Management Plan 15

4.1 Job analysis 15

4.2 Organizational structure 16

4.3 Recruitment and selection 17

4.4 Training and development 17

4.5 Performance appraisal 18

4.6 Compensation 19

Chapter 5 Financial Plan 21

5.1 Marketing (Advertising) 21

5.2 Purchase and Equipment 21

5.3 Utility Cost 22

5.4 Renting Cost 22

5.5 Salary 22

5.6 Profit & Loss Account 23

5.7 Balance Sheet 24

REFERENCE 26

Chapter 1 Strategic Plan

1.1 Idea description

Diet app is the program that can be used on an iPhone or based smartphone, allowing you to track eating and activity habits to help your weight loss efforts One of the most popular features of a diet app is the ability to record the amount of food you eat, track your workout routines and view the nutritional information

Android-1.2 Vision and Mission

 Full functionality not available in the free version due to limited resources

 The application is limited to the smartphone users only

1.3.3 Opportunities

 Personalized application functions depending on the individual’s goals

 Access to personal fitness trainers program in the premium version

 Referral system adopted by our application can fetch more downloads and increase premium version users

1.3.4 Threats

 Potential competition from other established fitness applications such as Myfitnesspal having prominent users

 If users do not upgrade the application, they can end up uninstalling it due

to limited access to the free version

 Emergence of unique exercise or nutrition fads

=> SO: Our diet app lets users optimize their health planning based on personal

schedule, giving users more control over their own health in daily life What we provide perfectly satisfy some groups of users’ needs, which would make potential customers more likely to use the product as the best target audiences are identified and the brand identity of the app is heard

=> OW: Our diet app is available on smartphones only, so it will be easier for

the users to access whenever and wherever they want

=> ST: Our app has variety of fitness coach and nutritionists, so the latest

exercises and nutrition fads can be updated monthly

=> WT: New users can have a 3-month trial so they can have more time to

consider if this app is suitable for them Besides, the users have to practice and update their daily meal on their blog to level up their level (Newbie -> Silver -> Gold -> Diamond) For each of the levels, they can receive some promotion and presents

1.4 PEST analysis

1.4.1 Political

 Political stability is very important for a social app to be accepted by its users Since this app allows people to share their daily workout routines, some eating habits they share may be unsuitable for other country’s customs We need to have suitable policies to comply with specific country’s rules and demands

1.4.2 Economic

 The GDP of a certain country speaks about the purchasing power and customer patterns of that country which can affect our app For example,

if their income is low, they will not be able to buy devices to use our app

 Sharing economy has generated employment for people on a large scale who would otherwise be searching for jobs everywhere It has created unique jobs and generated employment for a very large number of healthy food stores, gym coaches, beauty bloggers

1.4.3 Social

 One of the impacts of this service is that it is easily available Clients enjoy its platform which is easily accessible and convenient The application can

be installed and used in a smartphone thus easily controlling and tracking your nutritional information every time, everywhere

 The app provides reliable information for your workout process People share their daily diet, exercises and their results on the app so you can reduce the cost and wasted time searching for information and find the best method for your healthy living easier The consumers have spread their experience on social media, which helps attract more new clients

to information, notifications, workout routines all are integrated into a single app Constantly investing in technological improvements will bring more users for our app

1.5 Competitors analysis

 MyFitnessPal - Calorie Counter, Diet & Exercise Journal

 Lose It! - Calorie Counter for Weight Loss

 FatSecret - Calorie Counter & Diet Tracker for Weight Loss

 Fooducate - Healthy Weight Loss Coach & Food Scanner

 Noom - Connecting you with a weight loss coach

 Nutrino - Nutrition insights platform

1.6 Market determination

We choose Concentrated Strategy to focus on one specific market segment Our target customer is young people, especially officers and students, who easily get access to Internet and technology and don’t require too much energy to perform work

Chapter 2 Marketing Plan

2.1 Market analysis

Nowaday, the fitness space is highly competitive, but not yet saturated There are still unfilled niches within the marketplace A lot of workout planning apps were born but none of them have features for sharing pre-planned workouts among users from personal trainers to users and also the diet meal for people who want to take the most advantage of their exercises

2.2 Competitors analysis

Category Diet-tracking Strength training Strength training

Business

Model

Advertising, paid subscriptions

Free trial of a paid subscription

Free trial of a paid subscription

Remarkable

Feature

Compare calories consumed to calories burned to work towards the goal weight

Workouts are generated based on previous workouts and equipment availability

Settings for exercise - rest timer, notes, units, etc

Limitations Do not have

recommended workout exercises

Not available on Android and other platforms

Do not have recommended healthy meals

The app mostly aimed at users who are at the advanced level

o record the amount of food (calo, protein, fat, etc)

o track your workout routines

o view the nutritional information

o provide meal plans

o personal training sessions

o measure the steps and analyse the sleep

o searching for meals with desired recipe

The app also has a special feature that makes it stand out from the crowd that is: scanning the calories in a dish via picture All you need is to align the

picture in a given frame and the app will show you what there are in the dishes and how much calories are there After that, you have to type the amount of food (in kilogram, gram, etc ) and the app will evaluate the total calories you will consume after that meal If it is too much, you will receive a warning informing you to cut down some unnecessary ingredients

 Tiktok/Facebook ads: short video advertisements

Offline channels: corporate with fitness centres for middle class (officers, students, low income people, etc.) and give them free premium trial version

- Develop brand loyalty

 Incentives such as special deals or birthday gifts

 Sale off 30% on Holidays

 Reward Loyalty and Offer Incentives

 Offer Personalised Content

 Appears frequently in Publications

 Through KOL’s posts, review

 Through online newspaper for youngsters

 Through college students’ events

2.3.3 Estimate Marketing budget for 1 year

year

1 KOLS 15.000.000 VND /quarter 60.000.000

VND

2 Tiktok Ads 1st quarter: 20000 CPC/quarter -

54.000.000 VND 2nd, 3rd, 4th quarter: 5000 CPA/quarter - 45.000.000/quarter

189.000.000 VND

3 Facebook Ads 1st quarter: 6.000.000 VND/ 12.000

CPM/month 2nd, 3rd, 4th quarter: 3.000.000 VND/ 5000 CPM/month

45.000.000 VND

4 Publications 2 articles/month

500.000/article

12.000.000 VND

5 Standees at Elite

fitness

1st quarter: 40.000.000 VND/month 120.000.000

VND Total budget estimated for 1 year: 426.000.000 VND

2.3.4 Price

We offer these following packages for different types of customer (based

on their goals, their budget, their desires in meal preparation, etc.)

Free package For the newcomers, at first they can experience premium

package for free in the first 30 days After that, they can decide to continue using premium package or not For

the free package, users can only access basic diet meal, basic exercises for beginner and journal their process

(their weight, quality of sleep, etc) to achieve their basic desired goal

Premium Package

1 month premium -

69.000 VND

For premium package (Full access package): users can

access all functions including: searching for meals with their desired recipe, evaluating the amount of calo in the dishes via picture, personal training sessions for specific body parts from beginner to advanced, etc

3 months premium -

169.000 VND

6 months premium -

299.000 VND

- Download from App Store/ CH Play

2.3.6 People

- CEO

- Finance Manager

- Marketing Manager

- R&D Development Manager

- Customer Services Manager

2.3.7 Process

- Step 1: Introduce and advertise the app to users through social media (bloggers,

Facebook groups, KOLs, influencers), gym fitness centers, etc

During this step, customer service team will be available to help customers 24/7

- Step 2: Create a page on Tiktok and upload unique videos that will maybe set a

trend (the content will be mainly about fitness, workout and healthy meal preparation)

- Step 3: Collapse with influencers in the beauty and fitness field to attract the

- Great interface and easy to use

- Company’s website

- Equipment

- Videos of workout exercises and meals preparation

- Images of meal and practice position

3 Is it easy for you to evaluate the calories of your dishes?

4 Which kind of nutrition apps have you used?

 Calorie tracker

 Diet plans

 Recipes

 None of the above

5 Which diet app did you use?

 (type the name)

6 What was your motive for using the app?

8 How much did you weigh before and after using the app (kg)

9 How helpful was the app for pursuing your goal?

10 How great was the influence of the app on your results?

 I wouldn't have achieved my results without the app

 The app was an important factor for my results

 The app helped me slightly

 The app didn't have any impact on my results

 I don't know

11 What particular feature was helpful for your goals? (multiple responses allowed)

12 What did the app lack in your opinion?

13 How often do you do sports?

- Link Google form:

https://docs.google.com/forms/d/e/1FAIpQLScZSNH7GGv4gU9MDSJvFu_QaWUaTpfTjPS9DGxPr1Cxn6_-VA/viewform?fbclid=IwAR3q1w-

Management of operating equipment

 As a new small business, we only have the following simple office equipment:

 Person in charge: Accounting manager

3.3 Evaluate, improve and ensure operational activities

3.3.1 Planning

 PERT chart

3.3.2 Testing mechanism

 Random test

 Check the app model and its features randomly once two weeks

 Check the office’s facilities randomly in term of using it effectively

 Check properties

3.3.3 Productivity index

The productivity index is measured by the output (value of each premium pack, money from advertising, etc) by the inputs (cost of labours, office, capital, raw materials, etc)

 Update, complete features while running the app model

 Check the content of each blogger or writer before uploading on the app

 Correct the error of the app as soon as it appears

 Control after

 Check the compliments and criticization of users to learn from experience, adjust and complete the app

Chapter 4 Human Resources Management Plan

4.1 Job analysis

of position

CEO - Developing high quality business strategies and

plans ensuring their alignment with short-term and long-term objectives

- Analyze problematic situations and occurrences and provide solutions to ensure company survival and growth

- Overseeing all operations and business activities to ensure they produce the desired results and are consistent with the overall strategy and mission

- Review financial and non-financial reports to devise solutions or improvements

- Leading and motivating subordinates to advance employee engagement and develop a high performing managerial team

1

Finance

manager

- Forecasting finance

- Analysing market trends and competitors

- Developing long-term business plans

- Finding ways to cut costs

- Checking accuracy of documents

- Ensuring records meet financial regulations

- Producing financial reports related to budgets, account payables, account receivables, expenses,

- Reporting to management and providing advice how the company and future business decisions might be impacted

products, and other relevant information to form marketing strategies

- Communicates with various media buyers, advertising agencies, printers, and other services

to help marketing projects come to fruition

- Tracks all marketing and sales data and creates detailed written reports

- Adjusts marketing campaigns and strategies as needed in response to collected data and other feedback

- Oversees current offerings and comes up with initiatives for new products or services

R&D manager - Understand client requirements and how they

translate in application features

- Build meal plans and work-out routines

- Design creative prototypes according to specifications

- Write high quality source code to programcomplete applications

- Perform testing before launch

- Troubleshoot and debug applications

- Evaluate existing applications to reprogram,update and add new features

3

Customer

services

manager

- Keep track of customer’s account

- Resolve product or service problems by clarifying the customer's complaint, determining the cause of the problem, selecting and explaining the best solution to solve the problem

- Recommend potential products or services to management by collecting customer information and analyzing customer need

1

4.2 Organizational structure