Preferred learners
- Anywhere
- Academic experience
Categories
Skills
Project scope
- What is the main goal for this project?
-
Main Objective:
The main objective of this project is to develop a pricing and revenue strategy for Vergo's SaaS (Software as a Service) model software. This strategy aims to optimize pricing structures and revenue streams in order to effectively monetize the platform's unique capabilities in assessing workplace ergonomics through computer vision technology.
Problem Description/Outcome Expectation:
Students will be tasked with analyzing market dynamics, competitor pricing strategies, and customer preferences to formulate a comprehensive pricing and revenue strategy tailored specifically to Vergo's SaaS model. By the end of the project, students are expected to deliver a detailed pricing strategy document outlining pricing tiers, subscription models, value-added services, and potential revenue streams. Additionally, students should provide recommendations for pricing adjustments and implementation tactics to maximize revenue generation while ensuring competitiveness and value for customers.
- What tasks will learners need to complete to achieve the project goal?
-
Tasks for Students:
Conduct Market Analysis:
- Analyze the current market landscape for workplace ergonomics solutions.
- Identify key competitors and their pricing strategies.
- Assess customer needs, preferences, and willingness to pay for ergonomic assessment software.
Evaluate Vergo's Value Proposition:
- Understand Vergo's unique selling points and competitive advantages.
- Determine the perceived value of Vergo's platform among target customers.
Formulate Pricing Strategy:
- Develop pricing tiers/packages based on features, usage levels, and customer segments.
- Determine subscription models (monthly, annual, etc.) and pricing structures (flat rate, usage-based, etc.).
- Consider value-based pricing strategies to align pricing with perceived customer value.
Explore Revenue Streams:
- Identify potential additional revenue streams such as training services, consulting, or premium features.
- Evaluate the feasibility and profitability of each revenue stream option.
Analyze Pricing Sensitivity and Elasticity:
- Conduct sensitivity analysis to assess the impact of pricing changes on demand and revenue.
- Evaluate price elasticity to determine optimal pricing levels for different customer segments.
Develop Implementation Plan:
- Outline the steps and timeline for implementing the proposed pricing strategy.
- Identify key metrics and performance indicators to monitor the effectiveness of the strategy over time.
Present Recommendations:
- Prepare a comprehensive pricing strategy document outlining findings, recommendations, and implementation plans.
- Present recommendations to Vergo's management team, providing rationale and supporting data for proposed pricing decisions.
- What is the main goal for this project?
-
Main Objective:
The main objective of this project is to develop a pricing and revenue strategy for Vergo's SaaS (Software as a Service) model software. This strategy aims to optimize pricing structures and revenue streams in order to effectively monetize the platform's unique capabilities in assessing workplace ergonomics through computer vision technology.
Problem Description/Outcome Expectation:
Students will be tasked with analyzing market dynamics, competitor pricing strategies, and customer preferences to formulate a comprehensive pricing and revenue strategy tailored specifically to Vergo's SaaS model. By the end of the project, students are expected to deliver a detailed pricing strategy document outlining pricing tiers, subscription models, value-added services, and potential revenue streams. Additionally, students should provide recommendations for pricing adjustments and implementation tactics to maximize revenue generation while ensuring competitiveness and value for customers.
- What tasks will learners need to complete to achieve the project goal?
-
Tasks for Students:
Conduct Market Analysis:
- Analyze the current market landscape for workplace ergonomics solutions.
- Identify key competitors and their pricing strategies.
- Assess customer needs, preferences, and willingness to pay for ergonomic assessment software.
Evaluate Vergo's Value Proposition:
- Understand Vergo's unique selling points and competitive advantages.
- Determine the perceived value of Vergo's platform among target customers.
Formulate Pricing Strategy:
- Develop pricing tiers/packages based on features, usage levels, and customer segments.
- Determine subscription models (monthly, annual, etc.) and pricing structures (flat rate, usage-based, etc.).
- Consider value-based pricing strategies to align pricing with perceived customer value.
Explore Revenue Streams:
- Identify potential additional revenue streams such as training services, consulting, or premium features.
- Evaluate the feasibility and profitability of each revenue stream option.
Analyze Pricing Sensitivity and Elasticity:
- Conduct sensitivity analysis to assess the impact of pricing changes on demand and revenue.
- Evaluate price elasticity to determine optimal pricing levels for different customer segments.
Develop Implementation Plan:
- Outline the steps and timeline for implementing the proposed pricing strategy.
- Identify key metrics and performance indicators to monitor the effectiveness of the strategy over time.
Present Recommendations:
- Prepare a comprehensive pricing strategy document outlining findings, recommendations, and implementation plans.
- Present recommendations to Vergo's management team, providing rationale and supporting data for proposed pricing decisions.
- How will you support learners in completing the project?
-
- Staff Guidance: Experienced staff members will mentor students, offering guidance and feedback throughout the project.
- Access to Tools and Technology: Students will have access to necessary software tools and technologies required for analysis and modeling.
- Access to Data: Relevant data sources and information will be provided to support students' analysis and decision-making.
- Regular Check-ins and Progress Reviews: Scheduled meetings will monitor progress, address challenges, and provide additional support.
About the company
- https://www.vergo.ai
- 2 - 10 employees
- Technology
Vergo reduces costly workplace injuries by using a computer vision platform that identifies high-risk postures and injury-prone activities in the workplace.