1 / 18

RaceCam: Revolutionizing Horse Racing Viewing Experience

RaceCam provides lightweight mini cameras for horse owners, trainers, and jockeys to watch races from the horse's perspective. Our team conducted market research, experimented with hypotheses, and iterated our strategies to expand customer segments and enhance product features. Through collaborations with retailers and optimizing pricing, we have successfully transformed the horse racing industry experience.

ranee
Download Presentation

RaceCam: Revolutionizing Horse Racing Viewing Experience

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. RaceCam Providers Ourinitial idea wasaboutprovidinghorseowners, trainersandjockeyswithverylightandwell-developed mini cameras in ordertoenablethemtowatchracesfromtheirhorses’ eyes. Therearenearly 750.000 peoplewho is working in horseracingindustry in Turkey.

  2. TeamMembers • Aykut AYDINMarket researchaboutconsumerbehavioursandinterviews • Emre AYTEKİN Interviewsandresearchaboutincreasingbrandawareness • Y. Laçin GÜNEYProductdevelopmentandfinancialanalysisanddidinterviews not onlycustomers but alsoretailermanagers • Gökhan GÜRDEREConsumeranalysisandresearchaboutpotentialmarketsandinterviews • Selçuk SÜRÜLResearchaboutsellingapproacheswhicharedirectandindirectsellingsandalsoconductedinterviews

  3. What We Did and What We Found? We wrote hypothesis such as… • Hypothesis1: Just horse racing industry is only profitable market for RaceCams • Experiments: We did interviews and market researches • Results: We saw that it is niche market so we decided to expand our customers segments • Iterate: We added new target audiences

  4. What We Did and What We Found? • Hypothesis2: Image recording system can be enough for satisfaction of potential customers. • Experiments: Interviews with potential customers and market research • Results: We saw that just image recording is not enough • Iterate: We added new features to our cameras

  5. After adding new customers segments, retailers became key partners of our company to reach our new potential customers…  then … • Our Second draft of business canvas was started to be shaped…

  6. What We Did and What We Found? • Again we wrote hypothesis and tried to test those… • Hypothesis3: Our own stores are the best way to reach our customers as direct selling • Experiments:Weresearchedabout costs of opening stores in Turkey • Results:We saw that opening stores requires high amount money and also rents of those stores are not affordable for us as a start up company • Iterate:We decided to focus on website selling and we gave up opening our own stores

  7. What We Did and What We Found? • Hypothesis4: As an indirect selling Using own website is one of the most appropriate way to sell RaceCam • Experiments:Based on interviews with retailermanagers and market researches • Results:Direct selling also has an important role and we had to use this strategy to reach our customers directly • Iterate:We did agreement with big retailers and we gave them %10 of our revenue from sales of cams to reach our customers

  8. DIRECT SELLING Taking %10 of X TL Profit = (X-X.1/10) RaceCam Company GivingRaceCams Selling our products Price XTL Paying X TL to Retailers

  9. INDIRECT SELLING Give RaceCams Cargo RaceCam Company Profit= X – (X.%5) Taking order from Customers Taking RaceCam and paying fee of the cargo www.racecam.com Paying fee of the RaceCam with credit card andhaving %5 discount and give order

  10. What We Did and What We Found? • Hypothesis5: 250 TL is an appropriate price for our RaceCam • Experiments: We worked on our expenses and we did financial calculations then we interviewed with our customers about our price interval which is [250 – 375] • Results:We saw that customers tend to pay more than 250 and they perceived that price as affordable and also premium • Iterate:We changed our price and new selling price is 350TL

More Related