MARKET ENTRY STRATEGY

​ ​TEAM: IRISIAN

Name VU HONG ANH CHU NGOC ANH

School name Luong The Vinh high school Luong The Vinh high school

Email honganhvu1905@gmail.com hopeechuu@gmail.com

ID number 013691977 001300006152

Workshop date attended 05/20/2017 05/20/2017

IDOL ME
Be yourself. Be your own idol

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1. TARGET MARKET :
A. A RESEARCH OF DEMOGRAPHIC AND PSYCHOGRAPHIC OF TARGET
MARKET:

a. Life style:
❖ Hobby:​ ​How well do you know about Korean students’ hobbies?

T​ here is something Korean teenagers are in love with.​ IDOL​.

The k-pop waves now have strongly affected to the Korean teenagers’s life. All the students
in the age 15-18 years old can spend all day watching Korean drama, music videos, and
checking their phones every 5 minutes to update their idols’ daily lives. As a result, they will
have their own ideal models aka idols. At present, there are some stand out single and group
idols like: BIGBANG, BTS, Ji Chang Wook, YoonA, SNSD, Lee Sung Kyung,... and
thousands of other idols.
(Ji Chang Wook’s fan meeting) (an average fan meeting in Korea)

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(As you can see in this line graph, the development speed of kpop rocketed in the period from
2009 to 2012 and completely defeated the development of J-pop )

H​ owever, idolising now has led to some common negative issues in Korean students’

lifestyles:
+ Students in the age 15-18 always have mean comments on their anti-idols or even
have their own blogs to curse them.

+ Uncontrollable adoration turns them to mental stalkers. They violate idol’s privacy
and have some extremist actions. These obsessed fans are called ​Sasaeng fans ​in
Korea.

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 (a camera was put in an idol’s apartment (a sasaeng fan slaps his own idol)
building)

❖ ​Career orientation and economy: ​What is in the top of the job ranking in Korea?

N​ ot only do they praise their idols but they also dream to become idols. Beside some

dream jobs like: Judge, Lawyer, Doctors,..., Idoling is now also one of the most wanted jobs
in Korea. As you can see in this chart, there has been a dramatic increase in the number of
bands debuting.

(From 1996 to 2000, there are only 2-3 bands, however, in period from 2004 to 2011 this
number is 5-6 times as much as the old figure)

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N​ evertheless, the entertainment industry has strongly affected to the economy of Korea.

According to the statistics of the Korea Creative Content Agency (KOCCA), the Kpop
industry had brought back ​4.1 billion USD ​in 2013, becoming the head leading industry of
Korea. It also influenced to many other economic fields in this country:

❖ ​Technology:​ ​what is the main value of technology in Korean students’ lives ?

A​ s we all know, Korean students (especially in public schools) are under enormous

pressure in high schools : they learn 14-16 hours a day, they are always so stressed with
exercise, homework, some of them even commit suicide,... Since they do not have enough
leisure time to go somewhere far away to relax,​ playing games​ is becoming the main way to
release stress.
However, most of the high school girls don’t have suitable games for them or don’t have time
to go to PC Bang like boys.

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 ​IDEAL CUSTOMER PROFILE

2. PRODUCT DESCRIPTION AND STRATEGY:

From our previous research and ideal customer profile, we aim to create a game online on
smartphone. To make the most suitable product for our customer, we’ve made these
Questions​ and​ Answers​ as a survey.

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 #1 Oh well, I am a Korean student and i am extremely stress right now, do you have
anything to make me feel relaxable ?

YES WE DO. Base on what you want, we are going to give you something that can solve
your problem really well. So what is it ? Are you curious ?​ IDOL ME​- a super trendy,
interesting, and extremely fascinating game online.

#2 Why don’t you give me some magical technology equipment ? Can a small game like
this eliminate my stress ?
ABSOLUTELY. Since we know so well how much pressure you have to deal with in your
school, you can hardly carry some equipment with you when you spend almost 16 hours in
your school. Game is so convenient, game is so modern, game is so easy to turn on in
anywhere, anytime, the only extra condition is having a little smart phone with you​.

#3: hmm, it sounds interesting. But there are thousands and thousands games out
there. What makes your product different to others?

1. It’s new to the Korean market:

At present, there are some games dominating the Korean market like: ADEN, Evil Bane,
LineAge,... But these are all action games and suitable for the boys.
⇒ ​Now we are giving you a game that can also be played by the girls. An idol game will be
something that has never been on the Korean game market. We believe this unique will
attract the players.

2. ​ It can fix the shortcomings of some similar products:

There are some games about idol like: ” Kim Kardashian: Hollywood”,... But this kind of
games are only common in Western countries and hasn’t been introduced in Korea.
These games only allow people to become 1 famous celebrity.

⇒​ IDOL ME lets YOU to become your own idol. With our product, not only can you create
a brand new idol but can also be a part of the showbiz life.

#4:Okay, You’ve got me hooked. Sounds like an awesome game. Can you give me more
details ?

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IDOL ME has 20 levels divided into 2 parts:

Part 1: Creating idol: (level 1)

Idols are the people you admire, rights? They have the looks, the styles, the talents, the
personalities and the lives you always dream of. But now, with IDOL ME, it will be a dream
come true to you.
You don’t like your look? You always want an oval face and beautiful smile like goddess
YoonA?. Or you want to dress well like G-D? You got it. What kind of idol do you want to
become? An actor? A model? You have bad voice but you want to sing well like TWICE?
We can bring all that talents to you just in one app. You can even choose to be trained in
many famous Korean entertainment agencies like: YG, SM, Athena,… With this app, you
can turn yourself into a 100% idol in your imaginary.
But it’s not that easy. You can’t just walk in and be an idol. Like every other real idols, these
agencies will test your ability through the casting calls. Maybe you can look at the details
down here:

Singer Actor Model

By​ ​recording function​, you Casting for film is The first thing that all
can record your beautiful something so complicated in models should know about
voice.Not confident in your real life ? Now it will be is fashion. You’ll have only
singing ability ? Feel free to much easier in our game. 3 minutes to​ choose your
edit your voice with funny After ​being put in one of clothes and makeup to fit
voice changer tools​. Want some scenes of Korean for the casting theme.
to have Ailee powerful blockbuster films​,​ all you Then we will make your
singing voice or T.O.P warm have to do is ​creating a character do many different
low-tone voice ? It’s your dialogue and then putting it poses in a very short time
choices now. Since you are a in the reply box​. Know and you’ll have to ​choose
newbie in showbiz world, what? You can be in the your favourite pose.
everything will be pretty same scene with your Finally, you can ​use many
easy for you. favourite actors. filters and backgrounds to
create the best photo.

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Part 2: Living like idol: (level 2 - 20)
Along the game, you want to know how famous your are ? Do not worry, we have a Celebrity
Rating Scale for you here. After debuting as a model / singer / actor, your popularity will
base on your followers/ your fans.​ The higher position you get, the more famous you’ll
become. So it means that you’ll have to work hard and earn money. This money will be used
in the ​Store​, where you buy fancy clothes, beautiful houses, pets and commercial contracts
that help you enlarge your fan community and upgrade levels.

★ Daily working:
In this field, you will have to do an idol’s job in your main major like: singing, casting
films,...After each task, you will receive an amount of fans and money which relies on how
well you complete your job.

★ Game show:

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You can also participate in game shows like Running Man, We Got Married,...to receive
money and fans, too.

★ Social media:
This is where you can interact with your fans. You will have to solve all the difficulties the
idols have in their daily lives, such as: receiving mean comments, dealing with paparazzi,
mental stalkers, sasaeng fans,... which can make you lose a number of fans. You can choose
different ways to solve your problems in the ​Store​. Now you can see that being an idol is not
as easy as you thought, right?

★ Social life:
Since you have join in the showbiz world, you can be friends with all the celebrities, even
your idol. To make it closer to the players, we have turned all the idols into characters in the
game. Now you can sit chitchatting with Park Bo Young, eat with Lee Min Ho or have an
idol’s romance like you are want of them. Can you believe your face on all magazines with a
title says you and a famous idol are in a relationship? No way!!

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You can also interact with other players. On the Celebrity Rating Scale, you can see where
other players are and visit their profiles. By that way, you can make friends with them.

Feeling convincing enough? Are you ready to enter your own showbiz life?

THE NEED THE PRODUCT VALUE PROPOSITION

MEETS IN THE TARGET
MARKET

-Korean students need something to - Players can be a part of the Kpop showbiz
release stress rapidly (after 16 hours a and become a Korean idol of their own,
day at school) not just turning into some celebrities.
- Our app are not only entertaining but also
-They want something relate to their
hobby (they tend to able to solve many issues in Korean high
idolize celebrities) schools like:
· Decreasing negative attitude of Korean
students towards idols (e.g: rude treating to anti
​ ⇓ idols, extremist behaviors to their own idols,…)
IDOL ME · Helping them to understand about an idol’s
life so that they can consider about it as a career.
a celebrity role-playing online
game

3. PRICING STRATEGY:
a.Cost of each item:
We apply the model “in-app purchases” in our game. Remember the ​Store​? It’s where you
buy the items to increase your number of fans and upgrade levels. Each level we will open a
quantity of items for you to choose. But if you want to unlock the items in higher levels, you
can pay by the real money in your credit cards.
● Amount items in the ​Store​: 157 items
● Price per unit​ (P)​: ​$0.99/ item
We can even make money by charging other companies for each commercial they want to
run in our apps.
b. Payment : + ​Google Play Store gift card
+ Credit card : ​American Express, MasterCard, Visa, Visa Electron,...

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 ​ c. Pricing comparison:

IDOL ME and other games competitors Price

ADEN $4

EVIL BANE ​ $3-$5

IDOL ME $0.99

Here are some standout features of our product compared to others:

- Attractive price:​ Players can have numerous choices with ​JUST $0.99 ​for every
items.
- Convenient to pay: ​Google Play Card will be more suitable for our ideal customers
(students). Now players under 18 can easily pay money to buy the items in the game
without using credit cards.

​d.Pricing strategy :
- Penetration pricing
- Cost-based pricing
- Psychological pricing

4. PROMOTING PLAN AND STRATEGY:

a. Promotion mix:

General promotion mix Company’s promotion mix Reasons

1.Advertising 1.Advertising +Save money

2.Sales promotion 2.Sales promotion +Suitable for our ideal
3.Public relations 3.Public relation customer
4.Personal selling
5.Direct marketing

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b. Building and increasing awareness:
​ADVERTISING
● In game market, the channel game developer is the channel who has existing customer
base on other game it has launched, so we were thinking ​“Why don’t we co-operate
with other game developers since we are newbies?“​ .If you are playing your
favourite game and in the break, you see the suggestion about some other fancy
games, are you curious ? Do you want to download it and play ? I believe you do.

● Being sponsored by Instagram is also an effective way to promote our game​. In

our research, Korean teenager girls usually use instagram to shop, to update their life,
to follow their idols,.. So if we access our customers through instagram, it will
strongly influence them.

PUBLIC RELATION
● Among thousand games out there, it will be hard if we just sit there and wait the
customer to know about our game.​ ​So we have another idea:​ we can take place a
mini game show in a high school and at the same time promote our game​. In that
mini game show we can play some of the task we have in our games, bring them in
real life, allow our customer to play it in real life. If they are fancy to do it in real life,
they will immediately love our game. Finally,it bring an affect calls “ chain reaction “.
Just think about that : you hear your friend pay our game a compliment and you hear
we - that game developers pay our game a compliment. Who will you believe ? Who
will make you want to try it right away ? Definitely your friends.

● Inviting celebrities to promote our games.​ Teenagers always follow their idols. And
is there any more effective way to promote for a celebrity game than a real celebrity?
Come on!

● We can also joining game annual events ​to promote our product as well as meeting
potential investors and researching other competitors.

SALES PROMOTION
● We will ​set various good deal to attract customers​ ( sales, free gift cards, idol’s
posters,....)

​ ​c. Communicate with target customers:

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Since the majority of our target customers is teenager, we will communicate with our
customers through social media ( facebook, instagram,...) .

5. PLACING AND DISTRIBUTION STRATEGY:

- Selling method: + Online, Free download, use in-app purchase

- Distribution strategy: Digital channel.
- Distribution market: ​Google Play Store, App Store.
Google Play Store is the digital distribution of Android system - the operation system of
SamSung, which is the most popular smartphone in Korea. By becoming the developer of
Google Play Store, we are allowed to sell our app on it.

6. FINANCIAL PLAN:

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 ​INVESTMENT ( YEARLY )

Time Determine item Price per year

cost

Register as the developer of Google $200

Play Store and Apple Store

Explore and $2,500

Wireframing

Designing Design app scene $3,000

app cost
Program back-end, data $3,000
05.01.2018 - Fixed cost (average
foundation and API
30.04.2018 (FC) price on
market) App manager $3,500
​(per year)
Ensure quality and $2,000
developing

Deploy and Cloud $1,500

Office $3800

Human resources $6000

Marketing $3000

​Total cost: $35000

Variable cost Domain, server,... $1000/1000

01.01.2019- per unit ​(V) download/157
01.05..2019 items
-> ​$0.006/item

BREAK_EVEN POINT

To get to the break-even point, we have to sell ​35,569 ​items per year, or ​99
items per day.

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 AMOUNT OF ITEMS BEING SOLD AND PRICE PER ITEM

PROFIT MARGIN

7. APPLICATION OF TECHNOLOGY:

Since IDOL ME is an online-tech product, technology is playing the main role in most
everything related to it.
a. Designing product:​ To create an app product, we will need advanced technological
equipments:
- Device​: Laptop. We will need a computer with strong configuration and graphics
capabilities => Workstation is a priority.
- Software​:
+ ​Unreal Engine​ or​ Unity​ are the two most popular designing game tools for
programmers.
+ Other additional tools: ​Sound ​( Free Music Archive, Free Sound,...); ​Open Games
App. Tiled, Texture Packer,...

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b. Promoting product​:
Beside traditional promoting strategies, we will also include some digital communication to
connect and engage with the customers

c. How technology improve organizational effectiveness?

We use technology to create relationship with customers:
+ Using automatic response system
+ Using automatic customer base ( still can connect and communicate with the customer
without being in Korea )

d.​ ​Technology in innovation curve​: A strong company is a company knows how to

keep-up-to-date.
How can our product take the leading of the 3D game innovation?​ By embracing the latest
technologies, we believe our products will bring new breakthroughs, giving users a different
and exciting experience. So what will it have:
- Attractive design​: Epic sounds, cool graphics, smart and easy-to-use operating
system,... is what all games need to stay ahead on the market.

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 - Updating the latest informations in K-biz, drama trend ​ ⇒​ the standout
characteristic of our product.

8. PROJECT TIMELINE:

a. Developing (01.08.2017-31.10.2017):​ This is the time for designing and testing the
product, as well as meeting potential investors to co-operate in this new business.

b. Advertising + Launching (01.11.2017): ​In the first period, we will launch some test
moderns to promote and test the market. After testing and researching, we will fix and
launch the completed product.
- Why we choose this time?​:​ This time is the relax time for high school students after
various final exams, so we think that if we launch the product this time, it will
strongly attract our ideal customer.
- What is our business plan after launching the product?:

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 + In the first few months, we will start selling our product on ​Google Play Store​,
App Store​ After seeing the ability of this market, we will continue to open our business by
using the same operation system :

- Do we have to consider any scheduling issue?:​ ​No. Since our product is an online
app, we don’t have to worry about having problems with scheduling or if we have enough
supply of products to fill in orders.

9. MEASUREMENT OF SUCCESS:
- After researching, we know that​ ​a Key Performance Indicator (​KPI​) is a measurable
value that demonstrates how effectively a company is achieving key business
objectives. So the success of our product will base on 3 prime value : Sales, users,
profit,.

Time sales users profit

Month 5 36000 7000 users 10%

Month 8 40000-45000 8500 users 17%

Month 12 50000 game 10000 users

items being
25%
sold

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=> To ensure the success of the product, we will check the weekly, monthly, yearly goal.

● Why should you invest in our company?

- Our product is ​different:​ There is nothing like our product on the Korean market, so
we can guarantee that it will attract the curious customers. Also there will be no
competitor, so we can easily dominate the market.
- Our product is​ a need​: Sure a game with great benefits like ours will not be just a
temporary entertaining to the ideal customers.
- Our product ​easily​ ​brings profit​: An online game will always be popular to the
teenagers, so you don’t have to worry if your money is wasted. Will this product bring
back lots of money in a short time? We cannot say for sure. But selling online game is
one of the easiest way to make money. Why? Because games are entertaining, and
people ALWAYS PAY MONEY to entertain themselves. And we believe as long as
the Korean entertainment industry is still growing, this game cannot die.

● How to remain competitive in the long term?

- Taking the top spot​; By becoming the first one to invade this market, we can create a
huge influence of ourselves and gain trust of the customers. Later companies will
have to struggle to defeat the pioneer. Like Apple, the first person heading in the
smartphone market, will always be a strong competitor.
- Keep innovating: ​We will keep developing strong points and fixing weaknesses of to
give customers a more and more completed product.
- Opening market: ​We will continue to find more potential market and enlarge ideal
customers to expand our company. We will also add Japan idol, USUK idol, …. to
enlarge the market.

THANK YOU FOR READING OUR MARKET ENTRY STRATEGY.

WISHING YOU ALL THE VERY BEST !!!

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