Marketing Plan (Project Part)

Executive Summary

The product that my group has made is the Holographic instructor which will be offered to all universities in the United States. The brand it is made from is the Money Team and it is the future for education. The holographic instructor can respond to student’s questions and easily help them with any questions about their assignments. This product is programmed with an expert level of various college courses. For example, if a professor called out of work then the holographic instructor can teach the class. In addition, the holographic instructor can be a replacement for all professors worldwide which would allow universities to save money in the long run given that they will not have to pay instructors a yearly salary to teach courses if they choose to use The Holographic Instructor as a replacement for professors. Nevertheless, the Holographic Instructor can be used as an add on for some instructors giving the students two different methods of learning Given that the holographic instructor is a one time fee it is a great investment. The holographic instructor will run at about $3,000 per system. Scientists are still testing out the new models and making sure the hologram has speaking and learning tactics.

Table of Contents

The Marketing Challenge

The Market

SWOT Analysis

Objective & Issues

Value Proposition

Marketing Strategy

Marketing Research

Budget

Conclusion

The Marketing Challenge

Technology is constantly improving, but schools are not technologically advanced as they should be. The education system is extremely important; so, if the students have the latest technology they can be surrounded by the newest advancements, ideas, and unlimited knowledge. My team has created a solution to enhance the way education is provided. As a result, we have come up with a new invention, which will be benefit teachers and students called the Holographic Instructor 3.0. The Holographic Instructor 3.0 will allow universities to access unlimited knowledge from a scholarly database this knowledge can be used to educate both students and professors.

The Market

Customers - Our customers are colleges and universities who want to use our product. Colleges need this product because the Holographic Instructor 3.0 can answer any question in any given subject. The holographic instructor provides students with a digital learning experience. Universities will want to purchase this product because it can benefit students by being able to answer questions that instructors are not able too.

Company Analysis

The strengths of the holographic instructor is that professors can learn information from it. Also, Professors can be taught on subjects that they lack knowledge in. Professors can teach side by side with the Holographic Instructor to give students the best response possible to their questions. In addition, Professors are usually busy trying to grades students papers and usually have no time to prepare a lesson for the next class session. However, the Holographic Instructor 3.0 gives professors time to grade papers and prepare for class lectures. The disadvantages of the Holographic Instructor is that it can not relate to students because it is electronic and only programmed to know about college class courses.

Collaborators- We have a partnership with Microsoft and Amazon and they will sell the Holographic Instructor 3.0 in some of their selected stores. Amazon and Microsoft are our company distributors, so colleges can order our product from our personal website on TheMoneyTeam.com, Amazon.com, and Microsoft.com

Competitors- Our competitors is neutral because professors can work with the Holographic Instructor. Some professors could feel like the Holographic Instructors will replace them or take their jobs. The threats that could happen is malfunctions in the holographic system. For example, if the holographic system crashes during a lecture it could cause problems or if the internet is down then that can cause serious issues. In addition, another threat is the risk of the Holographic Instructor being hacked. This is a major issue because in today’s society we use technology for everything so hacking is more popular. Our company would install firewalls to prevent hacking from happening to the Holographic Instructor 3.0.

Business Climate- The environmental forces aspect would not affect the Holographic Instructor 3.0 because the it will be placed inside a classroom and works off a battery. However, the Holographic Instructor will only on work if there is a internet connection so wifi is required.

The Market (continued) - Our target market segment is focusing on colleges/universities. We chose this target market because our product will benefit colleges worldwide. The Holographic Instructor 3.0 was programmed to perform learning tasks based on college courses. Our product is filling the “gap” because no one has been able to make a product like this before. The Holographic Instructor 3.0 is a very unique product because it is one of a kind and helps students in a major way.

Marketing Strategy -

Marketing Research - Before we start offering this product worldwide, we need to make sure the holographic instructor has an anti-virus system in each model. Our team will have to find out the cost of annual updates involving new software and updating the firewall protection system. Also, we will research courses that students struggle the most in and program the Holographic Instructor 3.0 to have expert knowledge in those specific courses.

Product Strategy - Our group intended audience is specifically for colleges/universities. Also, The Holographic Instructor 3.0 is predicted to ready for distribution by March 2020. Prototypes for the Holographic Instructor 3.0 are being tested in certain Historically Black Universities. For example, prototypes are being tested in Bowie State University, Hampton University, and Howard University.Our group is conducting surveys or feedback questions about the holographic instructor from students and universities.

Price Strategy - The holographic instructor will be priced at $3,000 and will be offered to every university across the world. It will cost $3,000 per year for each holographic instructor.

Marketing Promotion Strategy - We will have representatives from our company (Money Team) visit various universities to propose and advertise the Holographic Instructor 3.0 to the president and the dean of the universities. We will hold nationwide conferences and previews for the Holographic Instructor 3.0 so potential buyers can get an idea of how the product works.

Distribution Strategy - We will distribute the holographic instructor 3.0 to every university that is willing to pay $3,000 per year. Also, universities will have the option to pay $1,500 per semester. If there is any malfunctions or shortages in the holographic instructor, the school would be able to get a full refund. Insurance is recommended when purchasing the Holographic Instructor 3.0

Budget -

Conclusion -