Question

Suppose that you want to create a free study app for students. In your own words write a paper on what an operational analysis is ? Why operational Analysis is important ? what are the cost start ups in creating the study application for students and where to advertise is ?

Answer 1

Operational Analysis is the process of analyzing the prospects of certain product or services by gathering detailed information required to convert input(raw material,labour,energy) into output (finished product or service).It is also the study of feasibility of certain idea or business plan by analyzing the current market demand,location, and current market scenario.Operational Analysis gives a holistic picture from ideation to launch stage.

The following process should be used for Operational Analysis :-

1. Zero down the cost required to create a product or service application.

2. Consider the market demand for it and competitors working in that particular segment.

3. The Viability and longevity of product or services offered.

4. The cost of hiring effecient app developers and time required to complete an application.

5. The Revenue model which could help to make my free study app profitable.

6. The advertising and marketing budget for initial launch.

Operational Analysis is important because of the following reasons :-

1. Operational Analysis help to zero down cost to start and grow a business from ideation to final stage.

2. It provides information about the market, demand and competitors working in same segment.

3. It provides roadmap and helps in operational effeciency.

4. It gives an idea about Fixed cost, variable cost and expenses required to build a product or offer a service.

5. It helps us to plan about unforseen circumstances such as natural calamities, market uncertainity and socio political condition of country.

6. It provides a direction to start a business, maintain inventory, and build a supply chain network to cater it to target audience.

Costs to start a free Study App :-

1. Technological cost- Costs required to purchase technology and hire app developers to build Study app.

2. Office Rent or Purchase Cost- Cost reuired to purcahse a office or take a rented place to start work on Study app.

3. Hiring SMEs- Cost required to hire subject matter experts to provide educational resources and original content on study app.

4. Marketing and advertising Cost- Marketing and advertisement of new application play a vital role in success and failure of new app.

5. Appointment of campus ambassadors and targeting schools and colleges- A budget would be allocated for this task to reach the target audience.

Places and process to advertise free Study app-

1. Schools and Colleges- This free study app should be advertised in colleges and schools by providing them demos with the help of campus ambassadors.

2. Advertised through Social Media, Print Media and Radio- This application should be promoted by creating an Instagram, Facebook page, Should be advertised in children's magazine and newspapers, Should be adverised on local radio stations.

3. Through Local governing body and campus ambassadors- This app should be promoted by help of local governing bodies ; the purpose and target audience of this app would work as catalyst to bring local bodies on board. Secondly we will provide training to campus ambassadors so they would be able to increase the reach of this app in rural areas.

Ideas to make this app viable and profitable in future :-

1. Providing advertisement space on the application and website once it has a wide user base.

2. Providing advertisement video space before the actual lessons, that way we can make it viable and profitable by giving brands a platform ( The exact same model which youtube use).

3. Raising money through Government startup grants and central government.

4. Investing the money raised through advertising and brand promotion space through a fund manager once it has a wide user base and stability.