Team - ExZam - Hrishika (14) / Nina (14) / Chantelle (14)
School: Mary Mackillop College
Coach: Wayne Horne
100 word app description:
This new app will boost the effectiveness of your studies!
Designed specifically for secondary school students, this app provides many helpful elements such as:
- An assessment diary for due homework and exams
- Assessment tips
- Adding in your own study notes for various subjects
- Suggestions for several methods of studying
- Adding in your own tips/guidelines for assignments
- Syncs with your calendar on your iPhone
- Organisational tips
- Background music to play
It’s all simple. It’s all fast. It’s all easy.
“Study doesn’t improve results, Effective study improves results”
Some believe that homework and assignments are unnecessary and cause stress among students and teachers. But these are the very two things that contribute to long term success. And ExZam, our academic scheduling app, is dedicated to making these two things more effective!
Here are screen shots from the prototype developed:
Here's the team's pitch video:
Here is the team's business plan:
ExZam a study tool in the form of an app. It is specifically designed for secondary school student so they will be the main target market. Our business will help students stay organised and achieve success within their academics.
We will charge $1.50 in order to purchase the app. This is an ideal price as the app includes many features. The revenue for the app will come from customers purchasing the app but only 70% or $1.05 of the purchase will go to the business and 30% or .45c will go to Apple. We can also make more revenue out of this by having advertisers advertise their products.
Customers will learn about our business from advertising or from previous customers. If something is useful, you are sure to tell someone else about it so referrals will be a useful advertising technique.
Number of customers
There are 3.5 million secondary school students in Australia. But in order to purchase the app they will need a smart phone or device which approx. 45% of the students own. The statistics now narrow down to 1575000 students. This is only an estimated number it is not certain that there will be these many costumers.
157500 × 1.05 (Revenue of one sold app) = $165375 of revenue will be the approx. annual income.
Concern- getting the product out there and convincing people to actually purchasing it. $1.50 may be slightly pricy for an app but you would need multiple apps for the features included (such as music, schedules and study tips) rather than a single app. We will also post testimonials by previous buyers so potential buyers can evaluate their decision.
Here's the teams demo video: