Sports365

Abstract

I started the project of building direct and indirect revenue streams for sports365 portal targeted for the K12 segments. Here we were initially told about the project and its whereabouts by our faculty mentor and thus we devised an eight-week storyboard for the implementation of our project. Initially the first week was engaged with market research on current trends in the K12 segment globally and understanding the gaps in our current education system for introduction of new products and services as well as enhancement of the existing products and services. The second week is involved with research on the various revenue streams and accordingly classifying them as independent or outsourced. In the third week ideas were created regarding collaboration with online educational platforms so that K12 segment education can be linked with games creating an engaging experience. The fourth week consists of reviewing of our revenue models in terms of its strengths and weaknesses and implementing changes to make them more robust and flexible. It is followed by the fifth week where ideas are framed regarding integration of online sports coaching and collaboration with sports training centers for increasing the sales and reach of the new products and services. The sixth week consists of design of innovative proposals for shipping models in order to improve the supply chain infrastructure so that delivery speed can be enhanced and cost regarding this whole process is minimized. The seventh week involves understanding the reviews of the customers through various social media platforms and as such changing the long-term strategy. The eighth week involves reviewing the whole process regarding products and services so that these can be launched and improved upon according to the changing context and customer needs. Hence our company Sports365 has given us a great opportunity to pursue this formation of new ideas regarding revenue streams that has helped us to develop our skills of research and innovation which is required in these changing times of business landscape.