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1. Section I - Company OverviewCompany Background Information

X is a start-up that makes educational instruments for children aged 3+. All parents want their child to learn music but it is hard. Most children do not learn instruments until they are 8 years old as that is when they have the required skills and dexterity. Before then they only have shrunken toy instruments that they are unable to play.

 

History

X is a young company, which generated a successful Kickstarter campaign in February 2018 raising £50,000 in pre-orders from 10 countries worldwide.


The company today Today

X is a team of ten people selling its products to parents online and also into education through a UK distributor. 

We are about to close our second round of investment to expand the team, stock, marketing and to build an app.

 

Vision

"Build a musical future for all children"

 

Strengths

X is an agile company and brand with a unique and innovative product. There is a large gap in the market for children's educational instruments.

 

Brand Position

X's products are positioned not as a toy but as an educational starter instrument and learning resource. We are a premium educational tool which values music and education highly. We are bold, innovative and accessible.

 

Target Consumer

We target middle class parents of children between 3 and 6 who are musically aware. We are focusing on the UK but can accept orders from other international countries. We also target "cool aunts and uncles" and "education grandparents". 

We want to expand into the education market with a focus on nurseries, pre-schools and music schools. However, we are just starting in this market and do not have a specific education customer yet.

 

Product

Our key product is an educational instrument with music learning material.

The instrument contains musical building blocks that represent each note. These can be placed on the board and stacked on top of each other to create chords. We have 10 different instrument sounds.

We have created our own educational material with simplified music notation that grows with the child in 3 stages up to full music notation.

The product costs £119.

In the future we will create a whole range of educational instruments that take a child through their full music educational journey.


Market Context and Competition

We are very new to the market and we want to establish a leading brand very quickly. There is not much competition in this space. We are competing against traditional instruments and ipads.

The educational market seems to be very different in each country. The budget is dependent on the type of schools. Distributors still play a large role.

 

Section 2 - The Brief

Project Background

We have managed to secure educational distribution through a large educational distributor in the UK. They are very interested in our product and see a large gap that it can fill. We want to expand quickly to education in the US and need to understand the market and have a route to market strategy.

 

Challenge

Understand the US educational market and decide on the best market entry.

 

We are looking to understand:

- Should we make any additions or reconfigurations for our product to sell effectively?

- What supporting material do we need to provide to boost our product/service offering?

- What type and level of schools/other educational establishments we should focus on?

- Who exactly is our preferred initial end customer?

- What is the most effective route to sell to these customers?

- What legal, regulatory and logistics barriers will we face?

- What are the future trends and how to maximise the opportunities that these trends may present?

 

Deliverables

- Product update recommendations and reasoning

- Analysis of types of customers/schools with decision on initial target customer?

- Profile on end customer

- Detailed market entry strategy

 

 

 

 

 

 

Answer & Explanation
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