Third Edition

Since from the last meeting we finished the Step 1 and collected information about the next step, during these two weeks we have met and finished step 2. We only had to write the ideas we had so it was an easy task to complete. This step consists on understanding which is our market, and more specially how it reacts to some changes and factors such as culture, personal factors o lifecycles among others.

After finishing this step we looked at the step 3. This part of the project is dedicated to examine our product and how it can be developed in the market environement, and then determine which is its most suitable position on it. For doing so, we firstly segmented our market. Once the segmentation stage was finished, we specify which part of this segment we are going to target and which targeting strategy we are going to follow in order to do so.
To more efficiently reach our target market we created several personas with different characteristics. For example, one of the personas was a young student without or with a part-time job, very interested in techonology, wherease another profile was from a over-50 years-old business man with little technological knowledge. Onces the personas were created we punctuated them and the one that received the higher score will form our target segment.

About the tagline of the app, as we think this part needs lot of creativity and inspiration we agreeded that whenever we come up with one, we will put it, but we are not going to force it to come.

Finally, we agreeded that we are going to meet again after the review week and all the components of the group must have had a look to the next step before the meeting.

From talking to writing

In order to go real, we started typing all the ideas that we have been collecting during these weeks about step 1, thus, we agreed that the best way of doing it was with a meeting all together, in contrast of our first idea of splitting the SWOT, PEST and Porter's five forces among the 4 members. That way, we can enjoy a bigger flow of ideas and, as we are all Erasmus students, it is good to have more than one person when writing up the project so the fact that English is not our first language is not such a big problem. 

Although during classes and in extra hours we took notes of some of the possible ideas we could put for this stage of the Marketing Planning, when we were actually writing down them we came out with new ideas and we correct some of the ones that we already had (i.e. we thought about one weakness of the app while doing the SWOT analysis, but after we realized that it is more a thread because it is not under our control, but under society and environmental control). 

As the classes pass by, we have also gathered enough material at this point for doing the step 2 of the plan, therefore from the meeting we decided that we were going to meet again on Monday 10^th of March in DIT.

From this meeting we expect to have finish the step two of the planning and also add the mission statement to the step one.