Introducing the Capti Voice product in the new African market
Capti Voice is a product of Charmtech Labs Company, which was founded in 2010 by computer science professors and P.H.D students with an intent to make a difference in the world of readers. Capti Voice is a product that is personalized using a couple of innovative reading support to help people with and without disability to lead. The target market for the product is educators, auditory learners, students, visually impaired, busy professionals commuters, avid readers, athletes and dyslexic. The product is universal working across different student abilities, goals, age, subject and content format or source. The products has strengths, weaknesses, threats and opportunities that surrounds it. The strengths of Capti Voice technology are integrated partners, broad audience and innovative support. The software can also be used together with Read and Write technology. The partners Capti Voice is working in corroboration with include Schoology, Blackboard, Google and Canvas. The product is also personalized for use by all types of readers both with ability and disability. It is built on advanced technology of artificial intelligence and machine learning fostering innovation. The product has opportunities such as fulfilling the VoiceDream users’ requirements in education settings. The market for the product is also large considering that a huge number of Africans do not have high level education and even those who have are not fluent readers. The weaknesses are lack of android and writing support and only focuses on learners from Kindergarten to grade 12. The threats are economic instability across the world due to Corona Virus pandemic and lack of resources to fund the process of making Capti Voice compatible with android. The competitors that the company faces in the African market are Kurzweil, Read and Write, UNICAF and Eneza education.
The selection of a market for a product is a vital task because it helps the company to know how it will serve the market. Introducing the Capti Voice product in the new African market is significant in extending the market base of the product. It is meant to target college students how are aged 18 years and above. With increased need for education among young Africans introduction of the products in colleges gives an opportunity to have good sales because the consumers targeted understands the impact of the software in their learning outcome. It is a perfect approach than introducing it to a population with no understanding of the product especially the older generation and young students at high and primary levels who have little knowledge about technology.
The subscription of the product should be done by the college institution who then charge the students on their tuition fees. This is the best approach to ensure all the members of the target audience indirectly contribute to improving the sales and profitability of the company. This will be the best approach to esure market penetration and success in the African market. Afterwards the students who will have benefited from the services of Capti Voice will act as pioneers to guarantee the effectiveness of the product in enhancing earning capabilities. The product will not only help them to read but also help them in achieving success in later life.
The African market is new to the company and requires it to assess the opportunities and threat the market has. This process can be made possible through PESTEL analysis that outlines what the company is likely to encounter. The political state of the African continent is not a very good one because there is a lot of political pressures arising from the political rivalry between multi-parties. The company must be prepared to face political instability from time to time in the country. In terms of economics, the company must consider that the African market is a developing economy with little investment in technology. The company must consider offering the company software resources to the African market at a favorable price. Therefore the company must make sure it wins as many customers as possible to help it make a profit by accumulating small chunks of profits. Socially there are some African market parts that have no idea of technology and still are left behind in their primitive ways (Sridhar et al., 2016). Education on the society on the importance and use of the Capti Voice technology is an important thing for the company. Educational programs must be budgeted to familiarize the society with the functionality of the technology.
Technologically the software has not to support android, which is the most used version of smartphone technology in the African market. It is cheap and easy to use, and that is why it is highly embraced in the African market. Most African learning institution does not have access to computers, especially the lower level grades. Therefore the company has to ensure that the software supports android technology for it to cover a large portion of the African market. Environmental factors that might affect the company in the African market is the use of biodegradable waste products. Most African countries are banning the use of non-biodegradable waste products, such as packaging materials. Therefore the company must use packaging materials that are either biodegradable or recyclable. In legal terms, the African market has less strict business laws and regulations compared to developed countries. Therefore the legal factors that face the company in the African market are less (Sridhar et al., 2016).
The marketing of Capti Voice software market will involve a variety of promotional tools and methods. The appropriate promotional channels must be chosen to guarantee the success of the product in the African market. The taget market region and demography is important in selecting the right promotional channel. In this case Captive focuses to serve the African collages that have a market with consumers aged above 18 years. Because would is advancing the most appropriate promotional tools and methods will be pay-per-click advertising, email marketing, social medial marketing, digital television advertising, newspaper advertising, affiliate marketing and demonstration in colleges. Giving messages about the functionality and how it compared to competitors products of the product will also be crucial to ushering the product popularity in African market.