Marketing Plan for ServiKali - Start up business Thesis

Marketing Plan for ServiKali - Start up business - Thesis Example This unique service shall target people who are settled abroad from Columbia and want to send money back home for various purposes. The stratus is that section of people who have their relative and friends settled abroad and stay in distant locations of Columbia. These people also do not have access to the internet or banking services. The paper carries out secondary research analysis for the purpose of this survey. The product and the company are relatively new (Weiner, 2000). Other companies in the business of international money transfer only provide for transfer and delivery of money. ServiKali aims to deliver services instead of money and put the business into a service perspective and give a new niche to its people. The paper makes use of journals, web and books for the purpose of carrying out this research activity. The total size of the market is difficult to estimate but it shall encompass anybody who is in need of foreign remittance and some service associated with this money received. The total population of Columbia is 47.1 million people and the users of this service are spread out but mostly the older generation and those who are distantly located (Tradingeconomics. 2014). It is estimated that about 70% of the country’s population lives on 7% of the land area of Columbia (Tradingeconomics. 2014). The service provided by ServiKali is meant for the 30% distant and rurally located people (Tradingeconomics. 2014). The demand for money transfers is still untapped and stores a huge potential because the market for international money transfers has been restricted with banks alone. New media for international monetary transactions is expected to have a higher demand. The company has an established brand name and consumer acceptance in US. It has to invest largely in marketing efforts to create its brand recognition in Columbia. Also,