Market Analysis and the Competition
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Potential customers for our product is communities that want to same money in STEM robotic kits. One of our main competition for this robot kit is STEMfinity. However, what they lack is accessibility and cost. What sets us apart from other STEM robotic kits is our price. While other kits can cost upward of 100 dollars, our kit cost.
One of the leading companies in the STEM education industry is the VEX robotics kit.stop. These are kits that introduce people to mechanical, programming, and electrical engineering. These vex kits range between $20-$700. The ones that are $20 aren't really good enough as an introduction to robotics because they don’t offer the adaptability that our kit possesses. They don't offer the creativity involved in building. They also do not provide a way to code the bot. The kits that go above $100 are expensive but do include necessary component for a STEM bot. Our bot is considerably cheap compared to a competitors. It offers a way to learn wiring and programming. It also encourages creativity.
Business
STEMfinity
(YO)Unity Bot
Size
Large
Compact
Adaptability
Each kit has a specified design
Each kit is customizable and adaptable
Price
Upwards of 700$+
40-55$
Marketing/Sales Strategy
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To gain profit from our product and kit, we need to market to the communities in an effective method. In order to maximize our sales, we will be using our price advantage to our main distinction from the other businesses. We can market our product to schools are communities that are in need of cheap, affordable ways to give education to their students. We have seen one too many cases in which the school which wants to teach robotics to their students but were obstructed by the cost barrier. Being too expensive is a big hurdle that the businesses have to face if they want to give their students the opportunity to explore robotics and programming. Our product makes bringing robotics to the classroom easier. We can market our product by explaining this to them. These are just a few strategies we can implement to sell our product to our audience..
Cost analysis
Materials
Quantity
Price
Weight
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Elegoo UNO R3 with cables
1
$10.90
.96 ounces
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Motor Controller L298N
1
$6.89
.96 ounces
​
Female and Male Wires
1 pack
$6.98
3.2 ounces
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Batteries (9V)
1
$0.99
.10(units not listed)
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Nylon Caster
1
$3.09
10kg
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DC Motors /w wheels
2
$3.08 ($1.54 each)
N/A
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ABS plastic sheet
1
$9.74 (shipping fee included)
1.4lb
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Bluetooth Module
1
$2.09
4g
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Wooden Rods
1 pack
$3.58
.32 ounces
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Battery Carrier
1
$1.90
17g
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Ultrasonic Module
1
$2.16
10.6 ounces
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Box/Packaging
1
$1.23
Max weight capacity:65lb
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Total:
$52.63
This is our cost analysis. It shows the individual cost of each part and the quantity. It also shows the weight of each piece. This will give you an idea of how strong you will have t assemble the bot.