Detailed Business Plan: Dragon Pen's Entry into Australian Education

This document presents a comprehensive business plan for the Dragon Pen, a technological innovation designed for the Australian education industry. It begins by outlining the business concept, categorizing it within the technology and learning sectors, and identifying the problem of declining educational standards and lack of technological integration in classrooms. The proposed solution, the Dragon Pen, aims to enhance learning through audio-visual experiences and improve classroom infrastructure, particularly for children aged 5-12. The plan details the target market segmentation, including demographic, psychographic, and geographic factors, and outlines a marketing strategy incorporating product development, pricing, distribution, and promotional tactics such as SEO, direct marketing, social media engagement, and pay-per-click advertising. The future vision emphasizes technological innovation to improve educational integration. The plan also sets goals and objectives, including profit targets and brand development. Finally, the plan provides a financial overview, detailing the initial investment, operational costs, and funding sources, including partner loans and projected sales revenue, to ensure the successful launch and growth of the Dragon Pen in the education sector. The plan underscores the importance of financial planning, marketing, and strategic implementation for the business's success.

Running head: A BUSINESS PLAN
A business plan
Name of the student
Name of the university
Author note

1A BUSINESS PLAN
Table of contents
1.0 The Business..........................................................................................................................................3
1.1 Business type.....................................................................................................................................3
1.2 Business Problem..............................................................................................................................4
1.3 Business Solution and Business Name..............................................................................................4
1.4 Service...............................................................................................................................................5
2.0 The Market............................................................................................................................................5
2.1 Target Market....................................................................................................................................5
2.2 Marketing Strategy............................................................................................................................6
3.0 The Future.............................................................................................................................................7
3.1 Vision Statement...............................................................................................................................7
3.2 Goals and Objectives.........................................................................................................................7
4.0 The Finances..........................................................................................................................................8
5.0 References and bibliography...............................................................................................................10
6.0 Appendices..........................................................................................................................................12

2A BUSINESS PLAN
1.0 The Business
The term business plan is being considered as the important strategic tool that can help to
focus on the necessary steps for making the successful business ideas (McKenzie, 2017). In the
business plan, Dragon pen has been decided to be introduced in the Australian education
industry. In the business plan, important key components, which are influential in terms of
implementing thee business idea have been discussed. The purpose of this business plan is to
highlight the business type, business problem, marketing strategy, target market and future
opportunities of the company with the new product.
1.1 Business type
The business can be categorized in both the technology and learning industry. According
to Duchesne and McMaugh (2018), analyzing the current growth in Australian education
industry, it has been identified that with expanding international education opportunities, the
enrollment numbers have been increased. By arguing this Arthur et al., (2017) stated that it
cannot be denied that with higher study opportunities, education sector has become fastest
growing sector in the global industry. It is true that depending on the recent demand of education
industry, it can be assumed that within coming 2025, student enrollment number will reach
approx. 1000000. It is also true that technological innovation has become necessary in the
current education industry. Most of the psychologist have mentioned that audio visual is the most
beneficial method of learning, therefore, uses of technology has become necessary (Nghiem et
al., 2015). it cannot be denied that although technological innovation has been introduced in
different educational sector, but there are many learning institutions which are using traditional
earning practices due to lack of financial support. The company has decided to introduce the
‘Dragon pen’ in reasonable price so that large numbers of people will appreciate the product.

3A BUSINESS PLAN
1.2 Business Problem
Examining the current situation in education industry, it can be assumed that quality
management has become the major concern for education institutions
(Goodtogreatschools.org.au, 2018). In order to making the learning process interesting is very
important for introduce technological innovation in the market. Not only in the higher education,
but also technology has become necessary in the child education process. Analyzing the current
child education system in Australia, it has been identified that increasing reading, scientific
literacy levels and mathematics knowledge of the children for competing the current education
trend of 21st century has become the major challenge for this education industry. On the other
hand, it is true that poor classroom instructions are the reason behind students’ failure
(Goodtogreatschools.org.au, 2018). Not only in the rural areas, but also in case of suburban
areas, the child education system is declining due to lack of proper infrastructure
(Research.acer.edu.au, 2018). Hence, in order to compete with the global education trend, it has
become necessary to introduce the technological equipment that can increase the interest of
student towards learning and also improve the educational infrastructure.
1.3 Business Solution and Business Name
The business plan, which has been discussed in the study will be based on technological
innovation in education industry. The role of this product will be improve the classroom
infrastructure as well as avoid the student failure. It can be assumed that introducing the dragon
pen in child education sector, it will be easier to deal with the emerging education challenges. By
increasing the learning opportunities, the product will help to provide standard audio visual
experience to the students. The educational device will be called as ‘Dragon pen’. As the

4A BUSINESS PLAN
educational service will mainly focus on the children, therefore, introducing its innovative name,
it can help to increase interest of children towards learning.
1.4 Service
If the growth opportunities from the last few years will be analyzed, it will be identified
that continuous introduction of technological innovation in the education sector has brought new
direction in the global education sector (Howard & Williams, 2017). Dragon pen can be
considered as the instrumental medium that can help to make the learning process more
interactive. It is also true that dragon pen can be beneficial for increasing the accessibility of
technology in the class room. As the study has already mentioned that depending on the current
educational challenges, it has become difficult for the children to match up with the educational
trend of 21st century, in that case, the easily available service can help to increase interest of
children towards learning. The device aims to reduce the gap between technology and education.
The device can be used for sharing the human message in more innovative manner. Dragon pen
can be fitted with the human instincts that can help to interact in the simplest manner.
2.0 The Market
2.1 Target Market
As stated by Magnani, Zucchella and Floriani (2018), the target market of a product is
being selected depending on the segmentation. In case of dragon pen, the market segmentation
has been classified into three types. Demographic, psychographic and geographic from
demographic segmentation children who are between the age group of 5 to 12 years will be
targeted by the company. It is also true that aim of this product to improve the learning
infrastructure for better output and due to this reason it will be very cost effective so that people
can easily abele the service. Depending on the income level, middle class and upper middle

5A BUSINESS PLAN
class people will be targeted by the company. As the device will focus on audio visual
interaction process, therefore, it can be said that it will target all the students in all over the
world. In the geographic segmentation, both the rural and urban learning sectors will be targeted.
Psychographic segmentation is being considered as an important key driver in the learning
sector. Depending on the interest and needs of the students, the target market will set. The
educational institutions, which have not used any kind of technological equipment in the learning
process, will be targeted by the product.
2.2 Marketing Strategy
In the business plan he marketing mix has been discussed for developing an appropriate
marketing strategies.
Product
Dragon Pen will be introduced for improving the child educational standard. The device
will be structured as pen and thee digital needle will be added in the device. It will help to give
thee 3D reflection of every dot.
Price
As the target market of the product is middle class and upper middle class people,
therefore per unit price of the product will be 60 US dollar and in the first production, 12000
units of products will be distributed in the market.
Place
The product will be distributed in the market through retailers. In the product distribution
process shopping malls and local retailers will be involved.

6A BUSINESS PLAN
Promotion
Search engine optimization technique
As stated by Burns, Bush and Sinha (2014), marketing is being considered as an essential
element in every business plan. Depending on the marketing initiatives, the proper
communication between the marketers and customers can be developed. The purpose of
introducing innovative marketing strategies in the market is to promote the product in the market
so that people will get to know about the products. By supporting this Olson et al., (2014), stated
that analyzing the current market trend it has been identified that people have become highly
dependent on social media. In that case, digital media can be beneficial to introduce Dragon pen
in the market. In case of promoting dragon pen in the internet, the Search engine optimization
technique can be used. With this initiative, Dragon pen can be easily promoted through Google.
In order to introduce the Search engine optimization technique in right manner both the long tail
and short tail key words will be introduced so that repeatedly the product can be viewed by the
internet users.
Direct marketing
As it is an education based product, therefore, direct marketing can also be beneficial
(Ilić, Ostojić, & Damnjanović, 2014). Printing advertisements, leaflets and newspaper ads will be
used for promoting dragon Pen. Using different posters in the schools, people will be aware of
the product. Celebrity endorsement through campaigns will help to grab the customers’ attention.
In that case, Child celebrities will be used in the campaigns for attracting target customers.
Social media channels

7A BUSINESS PLAN
On the other hand, using social media channels such as Youtube, Instagram, Facebook,
LinkedIn, Twitter and G+ will be used for increasing the popularity of Dragon Pen in the
market. The company will develop an individual product site, where all the information
regarding the product will be available. With the help of innovative graphic designer, the
attractive page of Dragon pen will be introduced where the pictures of the products will be
available.
Pay Per Click
In case of designing the business ads, the long tail and short tail key words will be used in
case of designing the ads. In that case, proper budgeting will be done so that the campaign can be
introduced in the right manner.
3.0 The Future
3.1 Vision Statement
The vision statement of dragon pen is to introduce technological innovation in the
educational sector so that effective audio visual learning opportunities can help to improve the
integration process in the global education sector.
3.2 Goals and Objectives
Analyzing the Aim of Dragon Pen, it has been identified that it aims to bring
technological advancement in the children learning process so that quality of education can be
improved. With the increasing educational quality, it will become easy for dealing with the
emerging challenges in the Australian children education sector. On the other hand, it also aims
to introduce the effective educational equipment that can be cost effective and improve the
classroom infrastructure. If the Dragon pen can be introduced in the right manner, it will help to

8A BUSINESS PLAN
increase the student enrollment numbers in educational sector. By introducing the effective
interaction process, creativity in the educational sector can be introduced. In order to achieve the
aim, few objectives have been mentioned in the business plan. Those are as follows
 To improve the children learning standard for helping them, to match with the
educational trend of 21st century
 To earn 25% of profit margin within coming 3 years from thee educational institutes
 To introduce cost effective technological equipment, so that service can be provided in
large segment
 To develop its strong brand image in the educational sector by providing innovative
audio visual equipment for children learning within coming 4 years
4.0 The Finances
In case of developing a business plan, financial support is very important. Without
introducing the effective budget, it cannot be possible for the company to implement its plan in
an appropriate manner. In the initial stage, the company need to focus on setting its operational
cost. In case of introducing the Dragon pen, initially investment of 3 million is required so that
the process can be exceed for at least 1.5 years. With the increasing growth opportunities and
technological uses in the educational sector, it can be assumed that within coming 2 years the
funding can be increased up to 4 million. If the operational activities will run smoothly, the sales
revenue can be increased 10% than the investment. On the other hand, 30% of the total
investment will be loaned by three partners, which will be paid within coming 3 years.
In the initial year, total setup cost including location, factory and staffs can reached 2
million. The Head office will be located in Sydney and the manufacturing unit will be located

9A BUSINESS PLAN
near the head quarter. In the initial stage, the marketing, product development campaign and
manufacturing and transportation cost will be included. As the product is totally new in the
market, in that case, training process can exceed the budget of 2 million. It has been assumed that
within the coming three years, the business revenue can reach 5 million.
Analyzing the entire business plan, it can be concluded that in order to making the
learning process interesting is very important for introduce technological innovation in the
market. Not only in the higher education, but also technology has become necessary in the child
education process. if the business plan can be successfully implemented, it can bring the
revolution in the educational sector. With increasing educational opportunities the quality of
education can be improved. On the other hand, by introducing technological advancement in the
educational sector, dragon pen will be appreciated in the global market.

10A BUSINESS PLAN
5.0 References and bibliography
Acer.edu.au (2018). Retrieved from: https://research.acer.edu.au/policyinsights/5/ [Accessed on
28th Nov, 2018]
Arthur, L., Beecher, B., Death, E., Dockett, S., & Farmer, S. (2017). Programming and Planning
in Early Childhood Settings with Student Resource Access 12 Months. Cengage AU.
Brinckmann, J., Dew, N., Read, S., Mayer-Haug, K., & Grichnik, D. (2018). Of those who plan:
A meta-analysis of the relationship between human capital and business planning. Long
Range Planning.
Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Harlow: Pearson.
Duchesne, S., & McMaugh, A. (2018). Educational psychology for learning and teaching.
Cengage AU.
Goldin, C., & Katz, L. F. (2018). The race between education and technology. In Inequality in
the 21st Century (pp. 49-54). Routledge.
Goodtogreatschools.org.au (2018). Retrieved from: https://goodtogreatschools.org.au/our-
challenge/ [Accessed on 28th Nov, 2018]
Greenacre, L., Jaeger, V., Martin, J., Patrick, S., Nguyen, Y., & Fryer, W. (2017). Self-reference
bias in students' and managers' selection of target market segments. The International
Journal of Management Education, 15(1), 39-48.
Ilić, D., Ostojić, S., & Damnjanović, N. (2014). The importance of marketing innovation in new
economy. Singidunum Journal of Applied Sciences, 11(1), 34-42.

11A BUSINESS PLAN
Magnani, G., Zucchella, A., & Floriani, D. E. (2018). The logic behind foreign market selection:
Objective distance dimensions vs. strategic objectives and psychic distance. International
Business Review, 27(1), 1-20.
McKenzie, D. (2017). Identifying and spurring high-growth entrepreneurship: Experimental
evidence from a business plan competition. American Economic Review, 107(8), 2278-
2307.
Mitchell, G. W., Wohleb, E. C., & Skinner, L. B. (2016). Perceptions of Public Educators
regarding Accessibility to Technology and the Importance of Integrating Technology
across the Curriculum. The Journal of Research in Business Education, 57(2), 14.
Muraco, J. A., Totenhagen, C. J., Corkery, S. A., & Curran, M. A. (2014). Reflections on family
science education: the importance of technology, experience, and diversity in the
classroom. Family Science Review, 19(2), 40-49.
Muraco, J. A., Totenhagen, C. J., Corkery, S. A., & Curran, M. A. (2014). Reflections on family
science education: the importance of technology, experience, and diversity in the
classroom. Family Science Review, 19(2), 40-49.
Muraco, J. A., Totenhagen, C. J., Corkery, S. A., & Curran, M. A. (2014). Reflections on family
science education: the importance of technology, experience, and diversity in the
classroom. Family Science Review, 19(2), 40-49.
Nghiem, H. S., Nguyen, H. T., Khanam, R., & Connelly, L. B. (2015). Does school type affect
cognitive and non-cognitive development in children? Evidence from Australian primary
schools. Labour Economics, 33, 55-65.

12A BUSINESS PLAN
Olson, E. M., Slater, S. F., Hult, G. T. M., & Olson, K. M. (2018). The application of human
resource management policies within the marketing organization: The impact on business
and marketing strategy implementation. Industrial Marketing Management, 69, 62-73.
Wrenn, B., & Mansfield, P. M. (2014). Marketing planning guide. Routledge.
6.0 Appendices
Key Partners
 Local and
International
Educational
Bodies,
NGOs and
Training
Institutes.
Key Activities
 Distribution
 Marketing
 Sales
 Financial
control and
budgeting
Value Proposition
To introduce
technological
innovation in
the
educational
sector so that
effective
audio visual
learning
opportunities
can help to
improve the
integration
process in the
global
education
Customer
Relationships
 Quality
management
system of
education
with
students
Customer
Segments
 Children
between
the age
group of
5 to 12
Key Resources
 Qualified
Supervisors
 Management
 Institutional
partnerships
in terms of
Affiliation
Channels
 Social
Media
(Facebook,
Instagram,
Youtube,
G+,
Snapchat,

13A BUSINESS PLAN
sector. LinkedIn
and Twitter)
 Website
Cost Structure
 Rent: 35%
 Payroll: 15%
 Sales and Marketing expenses: 20%
 Other Operating expenses: 5%
 Utilities: 20%
 Insurance: 10%
Revenue Streams
 Children education program- 70%
 Certification and Training Programs – 30%