poppay case study

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San Diego State University *

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MKTG-763

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Marketing

Date

Apr 3, 2024

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pdf

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PopID/ Poppay: Poppay was the downfall for the company Completely remove poppay until they gain more customers Marketing problem: 1. Need recognition (not many people knew what the app was) this lead to Poppay overpromoting their product and giving too much free money Suggestions Promotion Product New target market: college graduates POPID x Visa Qatar World Cup: https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.19266.html Memo due Thursday: Company Issue Segment focus on Map out journey How to study Memo Due Thursday: Per the syllabus, part one requires submitting a short, memo-style document (1-2 pages) that outlines your group project plan. In addition, please include a "team name", list all the members of your group, and list your email addresses. As outlined in the syllabus, the memo itself should contain the following (bullet points are fine): (1) The selected company PopID (pop pay)

(2) Market overview/analysis (e.g., SWOT analysis) Positive Negative Internal to PopPay Strengths Innovative way to pay- you can pay with your face without having to have your card or phone. The technology works Numerous applications: pay with face, restaurants, apartment building access, nightclubs could use it for lists. Weakness Privacy issues- people are scared of face tracking and the advancement of technology. They don't want their information to get leaked. Not trustworthy Not many establishments currently utilize PopId External to PopPay Opportunities -Using security as a powerpoint rather than letting it become a weakness - Partnerships with credit card companies can establish more credibility and drive a larger user base. (Visa partnership for the World Cup) - In a post-pandemic world, more people are looking for alternative payment methods to reduce risk of exposure to illnesses like COVID - Using your face (which is pretty close to impossible to replicate) is inherently more secure than a traditional debit or credit card with a pin. (recently had my debit card information compromised and had to go through the hassle of closing the old one and getting a new one) Threats Apple pay- uses touchless pay and is a trusted company. Fewer people are afraid to use Apple pay Privacy laws and regulations could limit or stop the use altogether. -Lack of brand recognition- people do not know the name or the product of the company well -Many people have security concerns and may struggle to attract certain types of customers because of it. (3) An overview of the company's likely target segments and the target segment(s) you will focus on in your project (e.g. "segment profiles") ● College students (overpromotion) ○ Gen z- young people that like new technology and advancements. Less likely to care about security, covid, etc.

● Covid Sensitive people ● Businesses (4) The consumer behavior problem you identified for your segment(s) (what do the consumers value- psychological, functional, and economical) Buying Process for college students: Stage Internal Influences Social Influences External Influences Need awareness Wanting to pay for something but you forgot your card Wanting a touchess form of payment -Showing up to a party that was sponsored by PopPay and you had to sign up to get into the party, -“everyones using it” - -Seeing PopPay adds, -People using PopPay at the store or restaurant -Seeing social media posts of people at the PopPay parties. Interest (info search) Top of mind forms of touchless payments: -Apple pay -Google pay -Venmo Interest of new company - asking friends which payment apps they use - talking to a representative at a PopPay even talking to friends that use PopPay - Google search for other forms of payment - Evaluation of Option You are using Apple Pay but want to try something new. Don't want to feel left out of parties PopPay offered $10 when you made an account - talking to friends that have PopPay and asking them if they like it -You get $ when you refer friends to PopPay - Seeing its a new technological trend Choice Concluding that PopPay is the best option for yourself Friends recommending / encouraging Poppay Consumption - Poppay is a convenient way to pay Post Consumption Functional vs practical when compared to other options. Chat GBT- To overcome these challenges, PopPay may need to focus on building a strong brand identity, emphasizing its unique features and benefits, and offering incentives or promotions to attract new users. It may also be helpful for PopPay to partner with established companies or organizations to expand its reach and build credibility.

The marketing issue in this scenario is that the company's promotional strategy was not aligned with its overall business objectives, which led to a lack of customer retention. By overpromoting its product, PopPay may have attracted customers who were primarily interested in the promotional deals rather than the product's core features and benefits. This type of promotion strategy, commonly referred to as "discounting," can be effective in generating short-term sales and increasing brand awareness. However, it can also attract customers who are less loyal and less likely to continue using the product after the promotion ends. To address this issue, PopPay may need to adjust its promotional strategy to ensure that it is attracting customers who are interested in the product's core value proposition, rather than just the promotional deals. This could involve focusing on educating customers about the product's features and benefits, building a strong brand identity, and providing excellent customer service to ensure customer satisfaction and retention. Additionally, the company may want to consider offering promotions and discounts that are more targeted and aligned with its overall business objectives, rather than just focusing on driving short-term sales. To develop a more effective marketing strategy for PopPay, it would be important to identify the target market segment that is most likely to benefit from the platform's features and is more likely to be loyal to the brand. Based on the information provided, PopPay's target market segment could include: 1. Tech-Savvy Individuals: PopPay's platform is designed to provide a seamless and convenient payment experience, which may be particularly attractive to tech-savvy individuals who are accustomed to using digital tools and mobile apps for various purposes. 2. Early Adopters: Early adopters are typically the first customers to try out new products and technologies. PopPay's target market could include these individuals who are open to exploring new and innovative payment methods. 3. Small Business Owners: Small business owners may be attracted to PopPay's platform as it provides a range of payment methods that can simplify the transaction process for their customers. 4. Individuals who value convenience: PopPay's platform is designed to make transactions easier and more convenient for customers. As such, the target market segment could include individuals who place a premium on convenience and are looking for more efficient ways to make payments. By targeting these segments, PopPay can develop a marketing strategy that speaks directly to the needs and preferences of its core customers. It can also help the company to more effectively communicate the value proposition of its platform and build a more loyal customer base over time. 1. Need Awareness- College students wanted a more convenient way to pay 2. Interest- They were looking up a different way of paying that is more convenient

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