Studious Digital Education

Studious Digital Education

Digital learning has become a significant issue in the current world. Its need has dramatically increased with the continued growth of the 2019 Corona Virus pandemic. Due to the disease, students would not be able to leave their homes for school with the fear of increased infection and spread. The increasedneed for digital learning encouraged the development of a digital learning platform by Studious. Studious Digital Education refers to an exciting Educational technology startup that began in the year 2018. The UK-based company plans to expand its business to several areas to match digital education demand and make profits. In this paper, we will discuss the identified and recommended opportunities that are available and have the potential to cause expansion of the learning platform outside the United Kingdom. Swot analysis of the business will be done to identify the company’s strengths, weaknesses, and threats posed bytheir competitors. An industry analysis of the company will also be carried out using Porter’s five competitive forces. Finally, Marketing and growth opportunities available to the company will also be discussed.

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Situation Analysis

conduct a SWOT analysis identifying the organisation’s strengths, weaknesses in terms of its resources and capabilities, along with the opportunities and threats present in the external environment.

 

SWOT

SWOT deals with analyzing the strengths, weaknesses, opportunities, and threats that may be faced by Studious Digital Education. The company has several strengths that may make it successful in its field of operation. The first main forcesare its flexibility, whereby the company is flexible and can accommodate any changes in location, management, and implementation of changes. Flexibility canbe seen where the company anticipates expanding its business outside the United  Kingdom to acquire a broad target and implement other changes like introducing additional subjects in their platform. Another strength of the digital education platform is its highly interactive process(Mohammad 2010). The company’s customer service is well organized and responds to any concerns immediately, hence leading to better results.

Additionally, the platform is motivating, whereby any available tasks presented by the student are quickly solved, and feedback is given immediately. A detailed assessment of the student’s performance can also be done, and feedback is given, which increases the students’ self-confidence, leading to betterunderstanding. Positive interaction and motivation in the platform encourage the students to work harder, express their views, and take responsibility for their education.Absolutely love this!!!

Digital learning, however, canhave weaknesses that may hinder it from achieving its desired effects in education. One of the defects is the incompatibility between the technological design and the desired output of the learner. Additionally, digital learning will entail learning on the screen, reducing the physical interaction between the teacher and the student. Lack of physical interaction andemotional connection between the teacher and the students can sometimes lead to poor performance(Mohammad 2010). Studious Digital learning has a lot of opportunities that may lead to their success. Firstly, there is an opportunity for expanding the technology to areas outside the United Kingdom and therefore increase the customer base. The expansion will lead to an increased market, which will translate to more profits. The digital platform also has the opportunity of radicalizing in that it can add more aspects to its learning. Apart from providing management learning tools, it can include continued online writing, whereby an individual can get a diploma after the completion of the learning process. The company also has the opportunity of increasing the category of the beneficiaries of their online writing(Mohammad 2010). Currently, the main beneficially of their education is management students. They can increase their beneficiaries by introducing other subjects like finance and offer learning servicesfor kids or people pursuing Ph.D. courses.

Digital education, however, can also be faced with alot of challenges like an exaggeration of the positive impacts it brings to the learners. When people exaggerate the platform’s positive effects, it will make the online tutors reluctant in that they will ignore the students leading to producing a whole generation of non-critical thinkers and reduced monitoring of the students. The company can face the threat of closure due to a lack of support and motivation from users. If the number of people using the platform reduces, and they do not get any financial support, they may lose their resources, leading to closure. A high dropout rate can also be a threat to online education. Lack of interaction and physical monitoring of the students gives them the freedom to do anything they wish, leading to poor performance and increased dropout. An increase in dropouts rate will lead to reduced customer preference and increased negative comments on the platform leading to a reduced number of students who want to use the service (O’Brien et al. 2020). Increased expenditure on services needed for online education can also be a threat to Studious Digital Education. Spending on new technology like the one used to transmit information in the network, buying new and modern equipment for the process, and producing material used for teaching can be costly. Also, the lack of a body that regulates online education can be a threat to the process.The lack of a body that sets standards and controls online education quality can also be a threat to the company.

 

To establish the current state of the industry Studious falls within, conduct an industry analysis utilising Porter’s Five Competitive Forces framework and discuss the forces you consider to be ‘strong’ and the action the organisation needs to be taking in order to ‘manage’ the identified forces.

 

To ascertain Studious’ position in the market place, apply Porter’s Generic Strategy to consider its current competitive position. Does this position enable Studious to compete effectively given the nature of their available resources and what options are there to move from the current position into a new competitive position?

 

 

To establish the Industry where Studious falls in, we will apply Porter’s Five Competitive Forces. In Porter’s theory, five major forces determine the profits that industry has the potential of making. The first force is the threat of new entrants, which mainly focuses on other businesses’ ease to start the same digital learning platform as Studious. The second force is the bargaining power of the buyers, which in Studious’case are the online students. Another force is the intensity of competition, whereby we consider how many firms offer the same services as them and their probability of gaining more customers than them. High competition can make it hard for the company to get more loyal customers(Mathooko&Ogutu, 2015). Another aspect is the availability of substitutes and the probability of people switching to the availablesubstitutes. The last one is the bargaining power of the suppliers who bring the learning equipment to Studious.

When an analysis of the market is done using the five forces, several factors can be identified. Under competitive rivals, some of the companies that may offer competition are the ones that provide online services. However, this should not be a threat because Studious has a vast customer base showing that the users prefer it. Under the Suppliers’ factor, their principal suppliers are the network providing companies and the machine producing companies. Therefore, the company should get their machines and resources from well-known and quality suppliers so that the quality of their products will be high. In terms of buyers, Studious’ buyers are mostly online students, and this makes it easy to get a large customer segment at any given time. Availability of substitutes can also affect Studious’ profitability leaking not the case due to the absence of physical learning cause availability restrictions(Mathooko&Ogutu, 2015). New entrants can also be a challenge, but being recognized as a legitimate online education platformposes a challenge to those companies. If Studious is collectively examined using all of Porter’s five forces, some important things can be noted. In terms of competition, Studious do not face a lot of competition since it has a broad customer base. This means that customers recognize Studious as a legit company and therefore come back again for their services. It also does not face the challenge of new entrants. In the online business where parents care about the online service provider, the threat of new entrants is not aproblem as parents will still prefer an online platform they are sure is legit.

Additionally, since Studios’ customer base is entirely online, they can increase their buyers and, therefore, profits. Despite the company being in a good position, management should look for methods that can be implemented to ensure that the company does not get prone to the factors that may affect its productivity. Some of them include improved interaction with the buyers and suppliers to ensure they have a good relationship hence ease of conducting business.

 

Marketing and Growth Opportunities

What are the opportunities for strategic growth? Use the Ansoff Matrix to evaluate and generate four potential growth options that could be pursued and considered:

 

Alongside the above and having clearly identified and profiled Studious current customer

segment(s) and/or potential new customer segment(s), you need to plan HOW you will REACH

the identified segment(s) in order to generate the greatest customer value, do this through

applying two aspects of the Marketing Mix (4Ps).

 

According to Ansoff, two major approaches can be applied to develop a growth strategy. The two approaches are; varying what is being offered by the company (product growth) and varying who the product is being sold to (market growth). When the two are combined, they give rise to four main strategic options with a different type of risk. Among the significant risks, the one considered to be of the lowest risk is market penetration.Penetration to the market entails selling its products to its already established customers(Loredana 2017). Market penetration is mostly applicable in cases where the markets are still growing or where the company is planning to apply other elements of the market mix, such as giving discounts. Under market penetration, Studious can seek to improve the management study materials’ sale to its already existing customers. They can reduce the price at which they sell their resources to the universities to increase the customer base oftheir services.

The second option is the product development part. Productdevelopment entails creating new products, different from the existing ones, for the already developed customers. In product development, the “product” and the “promotion part” will play an important part, and therefore it can be considered riskier than market penetration. Product production is risky because it can produce products that consumers do not like, therefore impacting their sales(Loredana 2017). They can also spend a lot of money on promotion, which may not be obtained back after selling the products, affecting the profits tremendously. The success of product development depends on the company’s ability to do sufficient research on its consumers to know what they effectively want before making any changes. The opinions of the customers also play an essential role in the success of product development. The measure of the capabilities of the company to produce new products should also be measured. For example, for Studious to think of adding other subjects to their online platform, they have to think if they have the necessary resources and enough tutors to makethe teaching effective. They also have to promote to let the consumers know that they introduced a new product to the market.

Another strategy is the market development option, which entails research on the company’s products market. It can be considered to be risky and involving as it entails understanding the complexities of new markets. In the Studious case, market development entails increasing the market base by increasing the number of people who use it.In Studious’ case, market development entails looking for new markets such as new universities that can be ready to use the management resources provided y by the company. Under market development, research and promotion are also involved as the company must let the new companies know that they are selling the products(Loredana 2017). The last strategy in the Ansoff Matrix is the Diversification step, which entails the development of new products and searches for new markets. It can be providing resources for younger kids, hence broadening the market to the children’s sector. Market development can be risky as it cannot be projected whether the new products’ sales will increase or the new market will pick up quickly. It is also considered the riskiest of them all as the company moves into a foreign market and produces very new products.

 

 

Where did you answer this: Alongside the above and having clearly identified and profiled Studious current customer

segment(s) and/or potential new customer segment(s), you need to plan HOW you will REACH

the identified segment(s) in order to generate the greatest customer value, do this through

applying two aspects of the Marketing Mix (4Ps).

 

 

Conclusion: evaluate one of the growth opportunities (identified through your application of the Ansoff Matrix), using the SAFe (Suitability, Acceptability and Feasibility) criteria to justify persuasively your recommendation.

 

Evidently, for Studious’s online business to succeed, there are several things they need to do. Some factors include the Swot analysis of the businessto identify the strengths, weaknesses of the company, and the threats posed by other companies.SWOT deals with analyzing the strengths, weaknesses, opportunities, and threats that may be faced by Studious Digital Education.One of the company’s significant strengths is its flexibility whereby the company is flexible and can accommodate any changes in location, management, and implementation of changes. However, it may be faced with challenges like an incompatibility between technological design and the learner’s desired output.

Additionally, digital learning will entail learning on the screen, reducing the physical interaction between the teacher and the student. An industry analysis of the company is also essential using Porte’s five competitive forces.Among Porter’s five factors were the buyers, the consumers of the online services, and the competition from new entrants.The presence of substitutes for online services and the bargaining power of the suppliers can also affect the company’s success. Effective handling of all these factors will ensure the success of the company hence profits.

Overall: please read carefully all my comments. Be careful of grammatical and spelling mistakes and also of repetition of words, it doesn’t sound academic. Remember to always be specific to the case. Do more research on the company and also find examples or real-life situations (compnies) to support your claims. Offer other strategies that studious could offer or use (like a tutoring option, a review option, a personal chat with lecturers etc). Make sure to answer the orange question. Regrading sourcing, don’t name drop, find other sources not only research papers that are not even relevant. Find maybe videos or talks or onlin articles. If you could include statistics it would be amazing. Also cut some of the general explaining stuff ot sounds like a textbook sometimes, remember my professors will know those strategies. Go straight into why this is relevant for STUDIOUS. Talk about the app RYZE. And in the introduction do a brief into into WHO created studious and identify what is their MISSION and strategy (all can be found on their website). Lastly, rewrite the whole conclusion, I am really sorry but it did not make sense at all and you didn’t do this:

evaluate one of the growth opportunities

(identified through your application of the Ansoff Matrix), using the SAFe (Suitability,

Acceptability and Feasibility) criteria to justify persuasively your recommendation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Android is well known for its penetration pricing strategy. By offering its phones at a low entry price, it can aggressively lure consumers from Apple who have the main market share in the smartphone market.

 

 

 

 

Coca-Cola’s solution? “Bloke Coke”, or rather Coke Zero, which is essentially the same in terms of taste and benefits but squarely positioned and marketed to capture the male market share they were missing with Diet Coke.

 

Paraphrase this while explaining segments

Typically, this involves identifying new vertical market segments that have not yet been served, or international expansion.

 

 

 

 

 

which one: 1. Related diversification: There are potential synergies to be realized between the existing business and the new product/market.

For example, a leather shoe producer that starts a line of leather wallets or accessories is pursuing a related diversification strategy.

  1. Unrelated diversification: There are no potential synergies to be realized between the existing business and the new product/market. For example, a leather shoe producer that starts manufacturing phones is pursuing an unrelated diversification strategy.

 

STUDIOUS could do both but tell which one would be more beneficial

 

You may also do well by franchising your product or service to the local area experts. This can help reduce your risks. The risks are slightly higher when compared to market penetration. But you can still bank on your previous success story. You will have to establish the market need and cater to the local environment

 

Franchise maybe with universities, propose a personalisation of RYZE, uni can display their content and maybe post their own recorded short lecture as well and in turn they will bring their students and studious will share a small percentage of profit made

 

 

 

 

 

 

 

 

 

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