ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE

MARKETING PLAN
“Draft”

Introduction

This marketing plan is aimed at delineating the product description; target market

and segmentation as well as primary market research indicating customers are willing to

buy OneStop. It will also give a comprehensive view of a SWOT analysis and an in-depth
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 2

look at sales and marketing strategies that will help our product become a force to be

reckoned with in the technological realm.

Product Description

OneStop offers a “fascinatingly functional future”. It is a virtual reality (VR)

software that is specifically designed for children to stimulate their minds in a

challenging yet fun way, toward science, technology, engineering and math (STEM)

careers in the future. This virtual application is available on several platforms including

mobile and will provide a myriad of interactive and educational activities to indelibly

etch into each young mind, a passion for STEM roles in society. OneStop challenges

children in a virtual reality environment that is free from distractions and affords the

opportunity to take on real life STEM roles in the form of an avatar.

OneStop will provide a plethora of benefits to customers. This STEM

application/software will promote critical thinking and build a competitive edge in all

users. OneStop will provide the tools necessary to develop an appreciation for science

and technology as well as cultivate collaborative skills that are germane to innovative

creations. Another benefit of this 21st century technology is that it will help to fill the gap

in STEM careers nationwide.

While there are other companies out there that are offering a virtual reality

experience, we are unique in what our product offers. The activities on our platform are

strategically engineered to propel children into STEM careers creating a “fascinatingly

functional future”. Most companies that are offering VR technology are solely focused
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on the entertainment aspect but our product goes beyond this basic proposition into an

innovative world.

Target Market and Segmentation

“Good marketing companies know that they cannot serve all customers in every

way. Instead, they need to focus their resources on the customers they can serve best and

more profitably”(Kotler & Armstrong, 2013 p. 29). In this section, market segmentation

and targeting will be used to capture the specific target customers. Market segmentation

will outline demographics, psychographics and behavior while undifferentiating targeting

and specific targeting will capture specific groups of customers.

Demographic segmentation

OneStop is designed to target children between ages 5 and 16 who are actively in

the process of deciding which career path they want to choose. While children will use

our product, parents and other adults will purchase them. As a result, OneStop will also

target parents, guardians and school administrators. OneStop is geared at targeting lower

middle class, middle class and upper middle class families with a household income of

$60K+. OneStop is also specifically geared toward private schools; public schools with

additional funding and institutions that are affiliated with technologically advanced

companies and corporations.

Geographic segmentation

OneStop will be available all over the United States of America; however, the

primary market is located in the states of Texas, Florida, California, Illinois, Ohio,
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 4

Pennsylvania and New York. Based on research carried out by Deculttr using Google

search query data, these are the top tech savvy states. Figure1 below shows a map of

these regions. Bright green represents the states that are very tech savvy while red and

orange represent the states that are least tech savvy. OneStop is a very technologically

advanced product and will thrive better in the bright green states depicted below.

Figure 1: Top tech savvy states.

Psychographic segmentation

The audience outlined in the target market above is family oriented and very

concerned with careers and success. While it may be superficial, family appearance and
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 5

status play an important role in their lives. These individuals lead busy lives and do not

find it difficult to splurge on their children’s education and happiness.

Behavioral segmentation

This target audience is financially savvy and makes shrewd purchases. The

decision to buy a new product is not made arbitrarily, rather, prudent calculations

comparing the cost and benefits of a decision are implemented. Due to the busy lifestyles

of the individuals in this target audience, purchases are mostly made online and during

the weekend or late at nights. The underlining factor that causes people in this group to

buy is their need to keep up with the latest trends and remain cognizant of changes. This

target audience will not hesitate to purchase OneStop as it is uniquely created to appeal to

such individuals.

SWOT Analysis

A SWOT Analysis is outlined below to show how OneStop will maximize

strengths and opportunities while mitigating weaknesses and threats.

Strengths

OneStop is very technologically advance as it immerses the users into a virtual

environment that simulates the actual environment with intense accuracy. Pictures are

lucid and sounds are amplified to give users a unique experience. This is perhaps one of

the greatest strengths of this application. According to Hussein and Natturdal (2015),

“what is more appealing in regards to VR in education is the fact that it can be used to

simulate and allow learners to practice procedures without the risks involved.” OneStop

is also very user friendly; the intricacies of such virtual reality software are removed and
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 6

replaced with interactive platforms. Science, technology, engineering and math are

brought to life through poignant colors and real life scenarios. The simplicity of

navigating the virtual environment will encourage users to participate and compete with

ease, giving the app a favorable review.

OneStop has the unique ability to grasp the minds of young engineers and

technical students at a young age, filling the STEM career gap that continues to grow,

changing the lives of many. This product is programmed to encourage children to

navigate toward jobs in STEM areas. The increased interaction and real-world project

based experiences are designed to help children have a greater appreciation for these

roles. As children grow and choose majors, their exposure to such environments will

become a factor in their decisions. Another key strength is the minimal obstacles to

overcome in getting the software licensed. Licensing procedures for OneStop will be

fairly easy as the software is in the education field, which has fewer red tapes to

overcome than similar software. The affordability of OneStop makes it more attractive to

a wider segment of consumers increasing future sales and revenue. This is a good

Segway into the final strength for this analysis, which is accessibility. OneStop is

available online which is one of the primary shopping areas for the target market

described earlier. Coupled, affordability and accessibility are potent factors for success.

Weaknesses

OneStop may be compromised by malware. This would ruin the experience for

the user and affect the objectives of the application. Another weakness that presents itself
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is the customers’ unfamiliarity with our brand. As with most things, people are reluctant

to gravitate toward a new brand until they it has proven itself. Limited funding is another

weak point. It is quite expensive to develop such a technologically advanced application,

seek licensure and acquire the right communication vehicles to get it out to the target

market. The final weakness presents itself in the form of being a new business idea. New

businesses are susceptible to several downfalls.

Opportunities

There are many opportunities that will emerge as OneStop makes its debut on the

market. There is the inevitable potential for growth, as OneStop meets the needs of its

target market. This can lead to rapid expansion into other territories. This is not limited to

the United States but to other tech savvy regions such as European countries and Asia

Pacific territories. In today’s fast-paced and technologically inclined world, OneStop

will be widely accepted. This is not only due to its unique innovation but the educational

edge it offers to young minds and the potential to increase STEM roles in America. This

huge acceptance will undoubtedly lead to an increase in revenue over a short period of

time as the product becomes more familiar to customers. The low competition that exists

in the marketplace will also contribute to a rapid increase in revenue.

Threats

OneStop faces threats from established firms who can swoop in with billions of

dollars and take over the market. They may also try to acquire our business in an attempt
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 8

to monopolize the market. Another threat that OneStop faces is the possibility of software

intrusion such as theft of intellectual property. Trouble shooting issues as well as

software malfunctions may occur. A minor anomaly may throw the application into

frenzy. Another threat that presents it self is the frequency with which government make

updates to its software regulations. OneStop could potentially face drawbacks, as

customers may be unwilling to comply with new usage rules as our business tries to

remain in sync with the law.

Summarized below in Table 1: SWOT Analysis Chart, are crucial ways in which

OneStop will maximize its strengths and opportunities while mitigating and minimizing

the weaknesses and threats.

STRENGTHS
Key strengths How to maximize
Cutting edge technology Management team will work with
engineers to ensure quality finish
User friendly Include more challenging content as
customers will have ease navigating the
app.
Promotes STEM education and careers Highlight in marketing strategies and
include in hook.
Minimal obstacles for licensing Management team will use extra time and
resources toward other components.
Affordable price Share with potential customers outside of
target market who may find the price
attractive.
Easily accessible Emphasize in communication vehicles,
especially those that are internet based.
WEAKNESSES
Key weaknesses How to minimize
Vulnerable to external threats such as Offer antiviral packages
malware.
Brand power-not well established Robust marketing strategy
Limited funding Seek investors
New business idea Communicate business idea and the
benefits it offers. Implement highly
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 9

experienced management team.

OPPORTUNITIES
Key opportunities How to exploit
Growth-expansion of business to other Conduct research in other territories.
territories
Increased revenue in a short period of time Invest in marketing strategies and
communication vehicles. Stay within
budget.
Huge acceptance in the marketplace
Increase in STEM careers overtime Monitor growth and publish results
showing the effectiveness of the app
THREATS
Key threats How to minimize
Bigger firms tapping into market Secure customer loyalty. Provide
continuous improvement to OneStop.
Software malfunctions and trouble Provide built-in app support.
shooting issues
Frequent updates to government Keep abreast with current changes
regulations
Software Intrusion Increased security systems. Copyright
intellectual property.
Table 1: SWOT Analysis Chart

Value Proposition

People are salivating for a product like OneStop as evidenced by primary market

research. OneStop is offering a “fascinatingly functional future” to all its users through its

innovative technology. This hook is included in all communication vehicles so that the

idea can resonate with the target audience. The sales and marketing strategies section

below, will explain the hook in more detail.

Primary research was conducted in the form of a survey and revealed that a high

percentage of the market is ready for OneStop; the remainder at the very least is

extremely curious. The survey consisted of approximately 10 questions and a total of 23

individuals were surveyed. Some of the results are captured in Table 2 below. More
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 10

survey results are available in Appendix I. The top two responses of four of the questions

asked are recorded below in table 2.

Survey Questions Responses

What is your first reaction Very positive Somewhat positive
to the product? 69.57% 26.09%
How innovative is the Extremely innovative Very innovative
product? 30.43% 69.57%
Do you think OneStop fits a Definitely need Probably need
current need? 47.83% 43.48%
Have you seen similar No Unsure
products? 69.57% 21.74%

Table2: Marketing Potential

Table 2 above indicates that more than half of the population surveyed had a

positive reaction to OneStop. The percentage that was ‘somewhat positive’ can be easily

swayed through our robust marketing strategies discussed later on. The entire population

surveyed thought OneStop is innovative with almost 70% claiming it is very innovative.

Innovation is the name of the game in this tech savvy marketplace and OneStop scores

very high in this paramount area.

OneStop has an advanced competitive edge over its rivals. As evidenced in table 2

above, almost 70% of the population surveyed had not seen a similar product on the

market. This is an awesome opportunity for OneStop as was mentioned in the SWOT

Analysis. Just about 22% of individuals surveyed were unsure if they’d seen a similar

product, which further cements the point that OneStop has a good niche in the

marketplace.

To summarize, OneStop offers a solution to the gap in STEM related careers in

America. It is accessible, affordable and well liked based on the primary research

conducted. Based on the information above, to make an investment in OneStop would

ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 11

prove to be a shrewd business decision as the target market is ready and waiting for this

innovative technology.

Sales and Marketing Strategy

There is no time like the present and now is prime time to invest in VR

technology. According to Gould (2016), “Many pundits are saying 2016 is the year

virtual reality (VR) goes main- stream because the twin barriers of computing limitations

and high costs have fallen quite a bit. In this section, OneStop’s message will be lucidly

outlined, the communication vehicles to be used as well as the type of scheduling.

OneStop’s major marketing message to all our customers is build and enjoy a

“fascinatingly functional future”. This message speaks to the core of every parent,

guardian or influencer in a child’s life. It resonates with the target market and their

behavior in society. Another aspect to our message is we are taking learning to a new

level and offering a one-stop shop for peaking children’s interest in many STEM related

topics. Children now have the opportunity to learn about STEM careers by mixing

videos with web interaction, real world scenarios, high-resolution images and visual

experiences. According to Abrams (2014), “every business sends a message in its

marketing”. We are deliberate in our message to our target audience to improve

communication and remove any nebulous rhetoric.

Our marketing strategy is to deliver OneStop to our customers in a manner that

appeals to their buying habits, fulfill their expectations and help them feel better about

themselves. To do this, the four P’s of marketing- product, place, price and promotion-

will be used to motivate our target audience to buy OneStop. Our product OneStop is
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 12

attempting to solve the gap in STEM careers that currently exist in America. The

potential buyers have been identified and their feedback, which was outlined in the value

proposition section, emphasized that they understood the need for this product. The price

is in line with the perceived value of the product to the target market. It is also very

competitive in comparison to similar products on the market. This is further explained in

the pricing strategy section later on. OneStop will be available online, the perfect place

for the target market as discussed in the behavior segmentation. The communication

aspect of this strategy is deeply rooted in promotion, which include advertising, sales

promotion and special offers.

In an effort to ensure astute spending of marketing funds, OneStop utilized Fit,

Mix, Repetition and Affordability to effectively get its message to its target customers.

Abrams (2016) stated, “Often the best marketing vehicles are not the most obvious or the

most expensive”. The communication vehicles that were employed are: social

networking, online advertising, brochures, flyers, television and radio.

Below is the marketing budget for OneStop. It is divided into quarters and gives a

line-by-line account of each marketing vehicle.

ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 13

Table 3: First Year Marketing Strategy Budget Plan

The marketing budget above in table 3 presents a vivid view of the breakdown of

marketing funds. The budget outlines a mix of communication vehicles that can get the

marketing message across to the target market. As was mentioned earlier, the

communication vehicles consists of a fair amount of online advertising including the use
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 14

of social network as well as more traditional methods such as television ads and

brochures.

Pricing Strategy

Price strategy is one of the riskiest marketing mix parts, in such, if mistakes are

made while setting prices, it could potentially become detrimental to the business. In a

new business venture, the assumption is if a price too high the customer might

circumvent the product, and find a similar product from a competitor with a cheaper

price. OneStop is determined to set efficient pricing by leaning on the marketplace

demand and opposition pricing.

OneStop will use the price skimming strategy due to the uncertainty of demand

and the exhaustion of funds on investigation and development on our new product. This

innovative virtual reality software may be too advanced for the market and sales may be

slow. This strategy has numerous benefits. At the highest of the demand curve, price

elasticity is small and in the insufficiency of any close substitute, cross-elasticity is also

small. Onestop will use these factors, along with substantial importance on promotion;

will allow the product to make substantial encroachment into the marketplace. The high

price also helps segment the market. OneStop’s ideal customer is not driven by price but

driven by innovation and is enthusiastic to buy a new product during its preliminary

stage. After significant promotion of the product, the mass marketplace can be

commissioned by dropping the price.

Our product pricing will be determined by the following:

Grade Level Type of User Number of User

Elementary Personal 1-5
Middle School 6-49
High School Government 50-99
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 15

Nonprofit 100+
Table 4: Product Pricing Determinants

There will be a 4-tier package that will include the following:

Individual Tier Bronze Tier Silver Tier Gold Tier

Use of software Use of software Use of software Use of software
Printable materials Printable material Printable materials Printable materials

Teacher workshop Teacher workshop Teacher workshop

Virtual support Virtual support

Status support Status reports
Outcome evaluation
report
STEM speaker
series

Table 5: Four-Tier package

** Per year Individual Bronze Silver Gold

1 -5 users 6 – 49 Users 50-99 Users 100 +

Elementary $350 $1,250 $6,000 $13,000
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 16

Middle School $650 $2,500 $9,000 $16,000

High School $950 $5,000 $12,000 $19,000
Table 6: Annual Cost Per Tier

OneStop’s pricing is competitive to many onsite STEM programs and camps on

the market. Most of these programs and camps though focused on Science, Technology,

Engineer and Math, are not as robust as OneStop. OneStop comprehensively covers all

STEM related content during each lesson. OneStop also offers a 12-month subscription

and 24/7 usage. Most of the STEM programs and camps currently on the market offer 2

to 3 month sessions, 2 days a week for 1 to 1.5 hours with no outside usage.

A close competitor, New Heights, focuses on the “development and leadership of

exciting, high quality programs designed to unleash potential and open young minds to

new possibilities.” They “remain constantly aware of the challenges facing youth in

contemporary society, and strive to create relevant and engaging programming that will

prepare today’s youth to become tomorrow’s inspired citizens” (New Heights, 2016).

Below is a table outlining their current STEM Programs.

STEM Level Length of Time Days Cost ($)

Program time available

First Lego Elementary September- 5:00pm- Monday and 400

Robotics November 6:00pm Friday

Destination Middle December- 5:00pm- Monday and 425

Imagination School March 6:00pm Tuesday

Destination High School December- 5:00pm- Monday and 425

Imagination March 6:00pm Tuesday

ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 17

Table 7: Competitor’s STEM program offering and cost

Summary

The marketing plan comprehensively outlined OneStop and what it has to offer to

its customers. The target market was revealed along with the geographic, demographic,

psychographic and behavior segmentation. A SWOT analysis was carried out and the

sales and marketing strategies were unveiled. In addition, a pricing strategy and value

proposition, which included primary research, was used to establish OneStop’s

unmatched potential in the marketplace. OneStop is filling a need in today’s

technologically savvy world and there is a great market just waiting to absorb its

innovative features.

Reference:

Abrams, R. (2014). Successful Business Plan, 6th Edition. [Devry]. Retrieved from

https://devry.vitalsource.com/#/books/9781933895475/
ONESTOP: CREATING A FACINATINGLY FUNCTIONAL FUTURE. 18

Kotler, P., & Armstrong, G. (2013). Principles of Marketing 15th Edition. (VitalSource

Bookshelf Version).

Golgowski, N. (2016). Are These the Most Tech-Savvy States? This may surprise you.

Retrieved from http://www.huffingtonpost.com/entry/most-tech-savvy-

states_us_5783d6b6e4b0c590f7ea567e

Hussein, M & Natturdal, C. (June, 2015). The Benefits of Virtual Reality in Education: A

Comparison Study. Retrieved November 5, 2016 from

https://gupea.ub.gu.se/bitstream/2077/39977/1/gupea_2077_39977_1.pdf

GOULD, L. S. (2016). Virtual Reality Is Coming to Your Eyes. Automotive Design &

Production, 128(4), 38-40.

New Heights, (2016). What we do. Retrieved November 18, 2016, from

http://newheightsonline.org/what-we-do/

Appendix I: Primary Research