BANKING ACADEMY

COMPETION

STARTUP BA
PROJECT: ENGLISH GROUP STUDY APP
APP NAME: ROPE
 GROUP 4
Vu Quynh Chi
22A4020017

Le Thi Thao Van

(Leader) - Nguyen Thi Ha
22A4020040 22A4020174

Nguyen Minh Thanh

22A4010293

Ngo Thi Hoai

22A4020157
\Dang Le An Khanh
22A4020101
 Introduction
- Rope is an app in order to connect English learners in everywhere to study together. One
room would be less than 10 members.

- When use our app, English learners can choose any rooms, any partners , any instructors they
like. With an account, they also make more friends, share their status, argue topics,…

- Eng.. Will connect with Grammarly keyboard to help learner write correct grammar,
spelling during chatting…

-
 Contents
Business plan
Overview
01 03
-
-
Strategies
Finance plan

Markets analysis Conclusion

-
-
Income and wealth
Price of related goods
02 04 -
-
Goal
Meaning
- Preferencee and taste
- Other non- price deteminant
Overview
- Almost apps only focus on self-study. That might make a lot of difficulties in
learning, like being bored, lazy … because of no instructors, no friends.
- Other apps help leaners study anywhere by the way use available video, it ís quite
uncomfortable
- The price of other apps to learn are quite expensive, which might not suitable with
students.
- English apps don’t have excercise or exam, …
Market analysis
- Income and wealth
- Price ofrelated goods
- Preference and taste
- Other non- price
determinants
 Grade
Gender
19th 20th 21st 22nd

8%
Male 2%
29% 19%
Female 32%
Others

64% 47%

Major
30
25
20
15
10
5
0
Accounting and Finance and English Business International Economics Management Economics law
auditing Banking department administration business studies Information
Systems
 Level of your English now How much time do you learn English a day?
< 30m 0.5-1h 1h-2h > 2h none
Excellent Very good Good Average Low
7%
8%
6% 3%
21% 34%

14%
25%

45%

37%
 What is your learning English purpose? What English level would you want to achieve?
90 Amateur Middle
80 Professional 6.5 ielts
70
To communicate well Center lecture

60 1%1% 1%
4%
50

40

30

20 30%

10

0
n te st k e d
fu a te or ag r oa
r ic w u
Fo un To ng ab
m To la dy
m d u
co n st 65%
co To
To se
y
a sm
e
us
To
Charts provide information about the study sample group.

Participants: There are 143 people who are studying many different fields at Banking
Academy, taking part in answering survey questions.

Most of them have average English proficiency, accounting for 44.8%. The rate of good and
equal people is more than 20%. The remainder have reached a professional level. Study
timetable ranges from 30 minutes to 1 hour, few people are able to study more than 2 hours or
most of them do not learn anything.

Regarding study purposes, the majority (about 75%) answered that they want to use for
communication and work, and 59.4% prepare for the test. Most of them want to reach a
professional level of 64.3%. Most of the rest just want to average.
 Income and wealth
The average income of banking academy students in a
month
The number of students who have not yet gone to
work is 64.3%. This ratio becomes less for students
with an income of 1 million or more, namely 18.9%
for students with an income of 1-2 million, 14% for
students with incomes from 2-5 million and 2.8%
for students with incomes above 5 million.

64,3% Not working 14% 2-5 million

18,9% 1-2 million 2,8% > 5 million

 Students monthly’s allowence

1-2 million 2-3 million 3-5 million > 5 million Under 1 million no allowance
Sales

1%9%
8%

13% 47%

22%

The rate of unassisted students accounts for 9% while the rate of students with 1-2 million VND makes up
the highest proportion with 46.9%. The number of students receiving 2-3 million subsidies accounted for
22.4%, 3-5 million accounted for 12.6%. The number of students receiving a lot of money (rich kid) is 7.7%.
The lowest rate of 1.4% belongs to students with a subsidy of less than 1 million.
 The money students will spend on learning English

The percentage of students who want

to learn English for free is 13%. This is
also the lowest rate of investment in 13% 14%
learning English. A slightly higher rate
of 14.% for students who are planning
to spend less than VND 500,000. The 29%
number of students planning to spend
43%
500-5 million accounts for the highest
proportion of 43%. And only 30% of
students plan to spend over 5 million
on learning English.

>5
Free 500 - 5
million
million < 500
 Conclusion

In general, the income of bank students is not

high. Average monthly income and wealth is 1-
2 million, accounting for the highest rate. The
percentage of students with high income is
only about 10%.
Currently, there are quite a number of English
centers, English classes are opened but it is
quite expensive, not suitable for the average
income of Banking Academy students. The rate
of students willing to spend 500-5 million for
learning English is only 43.4%. In order to meet
the price future for learning English, students
are required to increase their demand today.

Our English teaching App opens to ease that

economic burden for you. Based on the
survey we gave you, we will give you a price
that suits your average income.
 Preference and taste
How do you learn English?
Extra course (Tutor, training center,...) • On the one hand, they think
Self-study going to extra class will give them
good results and concentration.
They also have opportunities to
interact with lecturers, practice
with other learners.

• On the other hand, going to

42%
extra class will make students
spend much more money and form
their passive lifestyles sooner or
later. In addition, this will waste
58% their time and cost for traveling

>>>> Having instructors , being

able to choose partners
 How many people do you want to learn • In general, most of BA students want to
- English with? English in a group of? study in a small group instead of studying
alone or in a big group.
7%
11% • 18,2% of students choose studying on
6%
group of 2 people. They hope to find out a
person who can study and practice with
Alone
them on the condition that he/she must have
A couple
18% the same English level and have similarities
1 small group (5-10 members)
in characters,...
1 large group (> 10 members)
Don' t care
• 58,7% of students prefer studying in a
small group because it’s not only more
effective in exchanging knowledge but also
flexible in practicing.

59%
 Sales

• Only 2,8% people are not interested in

having suitable. 3%

• Others partners tend to find for 23%

themselves someone who can understand
and help them to solve difficulty while
Don't want
studying.
Want
Really want
• By this way, the effectiveness of
learning will increase thanks to
exchange study methods, knowledge
according to similarities in interests.

74%
>>>> This app will be created
according to effectiveness
 Think about an app to learn English and choose your interest level in the features of the app:
70

60

50

40

30

20

10

0
Price Having Can  choose Mini games Can Provided topic Link to other Having forums
instructors partners helping communicate vocabulary English apps to exchange
memorize with foreign opinions
better people

Don't care Care Extremely care

• 58% of students extremely want to be able to communicate with foreigners. The vast majority of people
doing the survey highly concern about studying with  instructors and vocabulary topic. Price is also a factor
that is cared a lot. (50,35% number of people care and 40,56% number of people extremely care about this
aspect) . Other remaining sides are also concerned with the percentage of over 40%.

>>>>>>> Strategies: 
• Our app absolutely has functions which are most concerned: having instructors (student are suggested to
study with the most clearly learning schedule and effective ways to learn); providing vocabulary topics
(easier to remember because it's systematic)

• Having minigame in order to increase excitement in learning and help to memorize better.

• Having forum to exchange knowledge and connect.

• Many student care about price because of the reason that most of them don't have income and they are
received small allowance. Besides, student also want this app to be linked to others. Therefore, we plan to
sell this app at a low price, and it will be linked to other apps to gain turnover.
 Price of related goods
Complements
If smartphone, laptop, ipad are more and more available, will you continue using English learning apps?

• It can be seen that customers tend to use English

learning apps a lot. The difference between people who
24%
are trending and non-trending users is pretty big, over
51%.
Yes
No
• It seems that smart devices are used a lot, the demand of
76% people learning by apps also increases because its
convenience can be learned anytime and everywhere.
D’
D s
E’
Analyse: P2
The development of the smartphone, P1 E
laptop,...Also, they are become more
popular and find easily => The demand
of using apps increases. Q1 Q
2
The demand of apps
 Connected apps

Grammarly keyboard
25

20

15

10
- Is a free online writing app => if connected with 5
Grope
- Having good reviews 0
- 20 million people are using it to improve their 2018 2019 2020
writing, many people like Grammarly, so it Column1
motivate our app develop more and more => not
having a effection on price of our product.
 Subtitutes
If the price of other apps increases or learning by apps is not effective
73.4% 55.6% Training center
• The average tuition of an English course is over 5-7
million VND/ course. However, there are centers that
charge monthly tuition fees of about 2 million– 3
million VND/month.

• >>>>> Although the price of course at the training

73.4% of students will study at 55.6% of students will learn center is high, 73.4% of students still choose to study at
center. through apps the center.
• Most students choose to study the center instead of the
app because of lacking concentration, motivation and
low self-discipline.
 What form do you learn?
60 56.4
55.6 • According to the survey, we known that when learning
50.4 51.9
50
English, people have 4 main trends: learning through
online applications, social networks, websites and
40 reference books.

30
• The numbers are almost equal, approximately 50%.
20

10 • In contrast, learning English through movies accounts

1.6 for a very small proportion, only 1.6%.
0
App Social Web Study books Film
network

In general, the above factors are very easy to pack in one app. Thus, developing an app that provides
all of the above needs will meet the general needs, meaning that customers will feel convenient and
chose our app instead. In other words, the demand for app will increase.
 Current popular apps
• Among 55.6% of English learners via apps, Elsa is an
What is the English app you are using? app with the majority of consumers voted, accounting for
31%. This is 1 apps to improve pronunciation skills for
learners with only 81,000 VND per month. Besides,
people with the same need to improve their pronunciation
also look to Engbreaking as an alternative.
30.9 31
• The modest figure is only 1/3 of Elsa's, due to the lack
of professionalism and high tuition fees, 490,000 VND
12.7 10.3
15.1
per 3 months.
• In addition, users also chose Cake or Edumall to
practice English through movies, the figure is over 10%
for each.
Elsa Eng breaking Cake Edumall Others
• Other apps like Voca, Duolingo, Mochien also occupy a
very high proportion, which equals Elsa means various
needs.
• We will try our best in researching about the market and
Other non-price determinants
NUMBER OF BUYERS

63% 37%
Students are Students are not
using English using apps
apps
 CONCLUSION
P
S
P2 E
P1
E’ D’

Q1 Q2
Q
- 63% students learn English through apps, so market is quite large to develop project

Strategies
- Enlarge the Marketing strategies:
- Advertising in school, university… about benefits of learning online
- Make a good impression with consumer by allow consumer try learning free in the first months
- Explain why they should do choose Eng..
 OTHER NON-PRICE DETERMINANTS

EXPECTATION OF BUYERS
Case 1: price of apps decline in the future

Reasons
52% will waite

- They think it is neccessary for their

budget

48% do not care about price

- They only care about the quality of 52% 48%

apps
Students think they Students do not
will waite care about
P P
S S
D’ E E
P1 P1
P2 E’
P2 E’
D D

Q1 Q2 Q Q1 Q2 Q
Now When the price
decrease
( ín the future)
- Almost students pay attention on the quality of product
- Elasticity of demand is very tiny( ín the future)
 OTHER NON-PRICE DETERMINANTS

EXPECTATION OF BUYERS
Case 2: price of apps increase will be increased in the future

Reasons
57 % will buy now

- They think this can effect on their

bugdet

43% do not care about price

57% 43%
- If it is a high quality apps, and help Students think they Students don not
them learn effectively will buy now care about the
price
 CONCLUSION
P P
S S
E’
P2 E E’
P1 P2
P1 E

D D

Q1 Q2 Q Q2 Q 1 Q
When the price increase
Now
(in the future)
- Students pay attention on the quality of apps
- Elasticity of demand is very tiny(in the future)
Strategies:
- Allowing consumers using app free in 1 month to have experiences
- Give study materials of English for them
- Receive the feedback, comment of consumers
>>>>>>> Strategies: 
• Our app absolutely has functions which are most concerned: having instructors
(student are suggested to study with the most clearly learning schedule and effective
ways to learn); providing vocabulary topics (easier to remember because it's systematic)

• Having minigame in order to increase excitement in learning and help to memorize

better.

• Having forum to exchange knowledge and connect.

• Many student care about price because of the reason that most of them don't have
income and they are received small allowance. Besides, student also want this app to be
linked to others. Therefore, we plan to sell this app at a low price ( free for the first
month and $10 per month for in-app purchasing ), and it will be linked to other apps
to gain turnover.
Business
plan
Finance plan
Marketting plan
Strategies
 >>>>> Finance Plan:

• 58% of students extremely want to be able to communicate with foreigners. The vast majority of
people doing the survey highly concern about studying with  instructors and vocabulary topic.
Price is also a factor that is cared a lot. (50,35% number of people care and 40,56% number of
people extremely care about this aspect) . Other remaning sides are also concerned with the
percentage of over 40%.
 Ideal customers: students.
 Financial situation: expected revenue, costs and profits.
• Expected revenue one month: $ 20.000
• Cost of production one month $10,000 ( wages for instructors, conected apps...)
• Expected profits: $10,000
 Competition: Elsa, Engbreaking, Cake, Edumall, ....
 >>>>> Marketing Plan:
Introduce for
students in
university in Ha Noi
Customers can using our app
first. Then enlarge
offline and online free with any
market.
rooms online with their freind.
Also, they will be provided a Allowing customers
world of knowledge, material to use our apps free
about words, grammar ... 2 month to have
more experiance

With a Vip account, they

can choose friends,
rooms, time,
intructors...they like. They
can chat with friend,
foreign people..., share
your status,....
>>>>>>> Strategies: 
• Our app absolutely has functions which are most concerned: having instructors (student are
suggested to study with the most clearly learning schedule and effective ways to learn);
providing vocabulary topics (easier to remember because it's systematic)

• Having minigame in order to increase excitement in learning and help to memorize better.

• Having forum to exchange knowledge and connect.

• Many student care about price because of the reason that most of them don't have income and
they are received small allowance.
- Besides, student also want this app to be linked to others.
Therefore, we plan to sell this app at a low price ( free for the first month and $10 per month
for in-app purchasing ), and it will be linked to other apps to gain turnover.
• Call up capital : $500000 for 15% stocks.
Conclusion Goal
Meaning
Goal
ROPE is accessible to most bank academy
students, and furthermore students from regional
and national schools. The success of the app will
bring us a lot of attention and money in 2022
 Meaning
Students are more give students a new space to
passionate, closer to interact, exchange knowledge.
interested in
learning English by
many methods .... satisfy skills practice with
each other

ROPE is an English learning application that wants to give students a new

space to interact, exchange knowledge, and satisfy skills practice with each
other. Here, students are more passionate, closer to interested in learning
English by many methods ....
Thanks!
Let Rope study English with you

Website: www.havataka.vn