Brief You are an entrepreneur who has landed up with an idea of starting a firm
ID: 362417 • Letter: B
Question
Brief
You are an entrepreneur who has landed up with an idea of starting a firm ‘Yo! English’– an ed-tech start-up in the area of language learning. ‘Yo! English’ aims to provide a personalized and adaptive learning path for every learner powered by world-leading AI and NLP technology. The target audience for ‘Yo! English’ flagship mobile app product Hi-English is the vibrant language learning community across India. You are expected to develop and present a comprehensive Business Plan. The guideline for your assignement is:
30-40 page business plan including 3 year financials
10 Slides / 5 minutes / All presentations to be back-to-back as we begin the course
Business Objectives/ Business Model / Market / Customer / Strategy / Revenue Sources / Challenges/ Budget / SWOT / Growth / Expansion / ++++++
Explanation / Answer
The Yo English app aims to be a useful app to provide a personalised and effective language learning experience. It aims to provide adaptive learning path for the learners.
The business objectives will be
To grow the consumer Base for the app and expand
To generate revenues through the plan
Build a high quality app to help consumer fulfill their learning needs.
Penetrate rapidly into the market and enhance greater visibility
The app will be downloaded directly to the mobile through the stores and it will work like standalone application with updates. The store process for downloading the full version of the Yo English learning app will ensure elaborate and detailed features. There will be support on multiple platforms.
The segmentation strategy will include consumers who are looking to learn English language in an adaptive environment. It includes job seekers, students who are looking to learn the language faster.
Strengths
It has a strong feature to reach to the consumers who are looking to learn English language in an effective amber.
The standalone application is easy and does not require any complicated external approvals.
The development will be accelerated through the use of standard development, support and tools.
Weakness
There is competition from other learning apps that are free and online YouTube courses.
There may be issues related to complete support for multiple mobile apps in an inexpensive manner.
Threats
The increasing competition of other learning apps and boom of YouTube self learn videos might be a threat.
It is expensive to develop the app further to penetrate and expand into various sections of the market rapidly.
Opportunities
The adaptability factor can be taken advantage of in an effective manner.
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