Project: Market Analysis and Strategy for a Translation App

This project delves into the market strategy for a translation application, examining various facets of the business plan. It begins with an analysis of the communication industry, highlighting the need for multilingual solutions in a globalized world. The project defines the mission and keys to success, emphasizing the importance of efficient management and expert translators. It outlines the objectives, including facilitating communication, boosting tourism, and expanding into new markets. The project identifies market targets, focusing on the top three languages spoken globally and targeting specific age groups. It then explores market segmentation, including demographic, physiographic, and behavioral characteristics of the target customers. A comprehensive market analysis is provided, including the identification of key customers, customer management strategies, and a SWOT analysis. Future developments and sales and marketing objectives are also discussed, along with promotional strategies, competitor analysis, and the unique selling proposition of the application.

PROJECT MANAGEMENT
NAME OF THE STUDENT:
NAME OF THE UNIVERSITY:

MARKET STRATEGY
The communication industry is filled with new products and strategies at
every point and every juncture.
The changing technologies in the competitive and global business market
have led to the creation of different types of new technologies that
facilitates the growth of the hospitality industry in the global business.
Multilingual audiovisual texts are part of the modern and globalized world,
with the co-existence of the languages and the cultures.
The exponential development along with the increased dependency of
different kinds of technology has increased the needs of communication
among the people.
The tourism companies have targeted this particular area to develop the
macro and micro based forms of communication policies in order to easily
communicate with different kinds of the tourists accordingly.

FACTORS OF DEVELOPMENT OF
APPLICATION
Mission
 The mission for the creation of the translation application is to facilitate the
tourists with the best possible translator services to help them easily explore
different countries.
 The presence of the translator application can remove the language barrier that
usually creates hurdle to tour other countries having different languages and
different cultures.
Keys to Success
 The success of the application is dependent on some factors. This includes the
likes of;
 Faster, efficient and professional management of each of the factors
 Selection of the best and accredited translators who can facilitate the growth of the
translation
 Translations must be reviewed by expert and able professionals to ensure success

FACTORS OF DEVELOPMENT OF
APPLICATION
Objectives/Purpose for the creation of the translation application
The objectives and the purpose of the translation application to be developed
are as follows;
 To facilitate easy communication in between the tourists and the local
people
 To facilitate a boost in tourism activities
 To make the tourists confident and demonstrate a cultural togetherness
 To expand the application to new markets

MARKET TARGETS
 Our app will target the Top three languages which are used globally by
people at the airport.
 Mandarin Chinese (1.1 billion speakers), English (983 million speakers),
Hindustani (544 million speakers) are top three most spoken languages in
the world.
 We are targeting people from age 18 -65 years when they travel between
India, china, Spain and English speaking countries.

MARKET TARGETS
 It is because of this the application comes into make things easy for
customers to translate the words instantly.
 It will be easy for those customers who are not much familiar with
technology.
 This app will be suitable for everyone. For example, As we are seeing from
the pie chart which is describing the age of people from china who travel
the Australia.
 So it’s clear from pie chart mostly young people from china use to travel
Australia; it could be student or professional.
 So, we are going to focus on these two age groups rather than other groups.

TARGET SEGMENTATION
Demographic
 The demographic division will include the race, religion and gender of the people visiting
places.
 The application will have female friendly characteristics that will make it easy for lonely
women to visit different countries.
 Apart from this the application will also provide religious translator options for visiting
religious places in a country.
Physiographic
 The Chinese, Hindi, Spanish and English speaking tourists have been selected for the
conduction of the research.
 The application will be designed in such a manner that it will be able to address the
geographic needs of the people.
 A Chinese speaking tourist will feel equally comfortable while visiting India as well as
Australia by using the application.
 Addressing this particular area can help address the issues and weaknesses of the other
translator applications in the market.

TARGET SEGMENTATION
Physiographic
 The different kinds of the people have different personalities.
 The tourism companies who will use the following application will ask about the different
features of the app whereas the tourists will ensure whether all their problems related to the
knowledge of the place and culture have been addressed or not.
 The address of the physiographic characteristics will thus help the organization to ensure
success.
Behavioral
 The behavior of the targeted customers will be analyzed in this segment.
 The different behaviors of the organization include the likes of the different needs and wants of the
tourists.
 This may include the tourists who want to have an idea of the culture and language of a particular
area or people who may intend to have a taste of the foods in the particular country.
 All such needs can be fulfilled by the presence of a proper translating application.
 The following application will focus on the accents and different regional dialects to ease the
communication process among the individuals.

MARKET ANALYSIS SUMMARY
 The market is filled with different types of IT companies as well as the application
development companies which have their own products in the market.
 Each of the new product in the following industry instantly gains recognition and
develops its own market.
 However, the problem that can be faced by us is during the developmental process
as finding an experienced and proper translator is highly essential for the success of
the application in the market.
 The involvement and introduction of the Foreign Direct Investments can be
essential for the business to attain success. It is an essential component of releasing
the product to market during its optimum window of opportunity.
 The presence of poor translations can create delays that will push back release dates.
This ultimately will have a negative impact on the sales and the reputation of the
company which will be developing the application.

STATISTICAL ANALYSIS

STATISTICAL ANALYSIS

STATISTICAL ANALYSIS