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RaceCam Providers

RaceCam Providers. Our initial idea was about  providing horse owners , trainers and jockeys with very light and well - developed mini cameras in order to enable them to watch races from their horses ’ eyes .

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RaceCam Providers

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  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

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