Main Objective of the Project:

The main objective of this project is to develop a comprehensive and effective pricing strategy for Agora Tutoring. This strategy will encompass determining the optimal price points for the platform's services, establishing a structured pricing calendar for different phases (pre-launch, during launch, and post-launch), and devising innovative promotional pricing strategies to enhance market penetration and customer acquisition.

Project Goal:

Learners will be solving the problem of determining how to price Agora Tutoring's services in a way that maximizes profitability while remaining competitive and attractive to potential customers. They will also address the challenge of creating a dynamic pricing strategy that adapts to different stages of the product lifecycle and incorporates effective promotional tactics.

Project Activities:

Market Research and Analysis:

• Conduct thorough research on the tutoring and educational services market.
• Analyze competitor pricing models and identify key trends and factors influencing pricing decisions in the market.
• Gather and analyze market data to understand customer willingness to pay and price sensitivity.

Internal Data Analysis:

• Review Agora Tutoring’s internal data, including financial reports, current market positioning, and performance metrics.
• Utilize market research reports and industry insights provided by Agora Tutoring to support the analysis.

Development of Pricing Models:

• Create different pricing models tailored to Agora Tutoring’s business model (e.g., subscription-based, session-based, tiered pricing).
• Evaluate the feasibility, potential profitability, and customer attractiveness of each pricing model.
• Use quantitative methods to forecast the financial impact of each pricing model.

Pricing Calendar Creation:

• Develop a detailed pricing calendar that outlines pricing strategies for different phases: pre-launch, during launch, and post-launch.
• Identify key periods for promotional pricing and propose specific strategies for each period (e.g., back-to-school season, exam preparation times).

Designing Promotional Pricing Strategies:

• Brainstorm and propose various promotional pricing strategies to attract and retain customers.
• Develop discount programs, referral incentives, limited-time offers, and other promotional tactics.
• Assess the potential impact of these promotional strategies on customer acquisition and retention.

Data-Driven Recommendations:

• Integrate findings from market analysis and internal data to formulate data-driven pricing recommendations.
• Present a comprehensive impact analysis of the proposed pricing strategies on Agora Tutoring’s revenue and market positioning.

Regular Progress Reviews:

• Participate in regular check-ins and feedback sessions with Agora Tutoring’s senior management and subject matter experts.
• Use these sessions to align the project direction with Agora Tutoring’s strategic goals and make necessary adjustments.

Final Report and Presentation:

• Compile a final report summarizing the research, analysis, proposed pricing models, and promotional strategies.
• Prepare a comprehensive presentation to deliver the findings and recommendations to Agora Tutoring’s management team.
• Include actionable steps and a roadmap for implementing the proposed pricing strategies.

By completing these tasks, learners will gain hands-on experience in market analysis, data-driven decision-making, and strategic planning, ultimately providing Agora Tutoring with valuable insights and actionable recommendations for their pricing strategy.

Support & Mentorship:

Agora Tutoring is committed to providing comprehensive support and mentorship to ensure the successful completion of the project. The support offered includes:

Staff Time:

• Mentorship: Learners will receive guidance and mentorship from Agora Tutoring’s senior management team. This includes regular check-ins and feedback sessions to ensure the project stays on track and aligns with Agora’s strategic goals.
• Subject Matter Experts (SMEs): Access to Agora’s subject matter experts in business development, market research, and strategic planning for specialized advice and support.

Access to Tools and Technology:

• Communication Tools: Learners will use communication tools such as Slack or Microsoft Teams for effective collaboration and communication with Agora’s team members.

Access to Data:

• Internal Data: Learners will have access to Agora Tutoring’s internal data, including financial reports, current market positioning, strategic plans, and performance metrics, to inform their research and strategic planning.

Training and Resources:

• Workshops and Training Sessions: Participation in workshops and training sessions on topics such as market analysis, pricing strategies, and strategic planning to build necessary skills and knowledge.
• Resource Library: Access to a library of resources, including templates, guides, and best practices for developing pricing models and promotional strategies.

Feedback and Review:

• Regular Reviews: Scheduled review meetings with Agora Tutoring’s project lead to provide constructive feedback and ensure alignment with project goals.
• Final Review and Recommendations: A comprehensive final review of the developed pricing strategies, proposals, and action plans, with recommendations for implementation and potential improvements.

By providing these supports and mentorship, Agora Tutoring will ensure that learners have the necessary resources, guidance, and tools to successfully complete the project and achieve the desired outcomes.