"WEARABLE TECHNOLOGY ARE EXPECTED TO BE MAINSTREAM IN SCHOOLS WITHIN FOUR TO FIVE YEARS."
-2015 NMC Horizon Report
Back of the Envelope Math
Speaking of the Canadian elementary and secondary market alone, there are about 5 million students. At $150 a unit, $750,000,000 in revenue would be generated. The corresponding American market is 10 times as large, making a top possible revenue of over $75,000,000,000. Big numbers. Realistically, the E-Bit would find its niche in the high school market, enabling Canada and United States populations of about 15 million students. Assuming a 10% adoption rate, $225,000,000 in revenue could be produced. If only 1% of American and Canadian schools adopt the E-Bit we are looking at about $22,500,000. We modestly assume a 35% profit margin which gives us $7,875,000 in profit.
Canadian Market in Detail
In 2014 Canada had 5,032,183 elementary and secondary students. There were 1,996,200 students enrolled in universities and colleges. Apprenticeship training programs had another 444,672 students. Canada employed 756,900 teachers that year. Approximately 400,000 students attend private schools. That gives us a Canadian market of 8,629,955 possible customers
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Using the same modest forecasts of 1% adoption and a 35% profit margin on a $150 unit, we foresee an initial profit of $4,530,726. If the New Media Consortium prediction of the near-future mainstream status of wearables in education proves to be true, we can perhaps increase the rate of adoption twofold to tenfold giving us upper estimates of $45,307,260 of profit.
Marketing
Our marketing strategy is made of three distinct tactics. The Academic represents educational researchers and the scholarly community in general. The Professional represents teachers and administrators in the field. Finally, the Traditional represents marketing that you would normally consider for everyday products.