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As a Educational Venture Analysis it is my responsibility to critically assess Mathletics as a venture for School District 99:
As a Educational Venture Analysis it is my responsibility to critically assess Mathletics as a venture for School District 99:
Pain Point
Pain Point
Most online Math platforms provide an opportunity for students to practice facts. Mathletics provides increased accessibility and built in support for students. Questions can be read aloud to students with reading challenges. There is also an “i” button that students can click on to see a guided example and walk through for the question they are working on. This is the key market gap or problem that Mathletics addresses. Allowing students to learn independently rather than basically having a worksheet online increases time on task and learning while decreasing frustration and student withdrawal. Another market gaps that is addressed by Mathletics is assessment. Teachers can quickly assign specific lessons to students and easily monitor student progress where lessons can be reassigned or the teacher can choose to provide individual or small group instruction at that point.
Most online Math platforms provide an opportunity for students to practice facts. Mathletics provides increased accessibility and built in support for students. Questions can be read aloud to students with reading challenges. There is also an “i” button that students can click on to see a guided example and walk through for the question they are working on. This is the key market gap or problem that Mathletics addresses. Allowing students to learn independently rather than basically having a worksheet online increases time on task and learning while decreasing frustration and student withdrawal. Another market gaps that is addressed by Mathletics is assessment. Teachers can quickly assign specific lessons to students and easily monitor student progress where lessons can be reassigned or the teacher can choose to provide individual or small group instruction at that point.
Solution
Solution
Mathletics is the only comprehensive mathematics program that provides instant access to thousands of digital and physical activities for practice, fluency and critical thinking in one place (3plearning, 2021, p1). The market gap this venture is addressing is its ability to differentiate learning for every child. For example if a child in grade seven is working below grade level (grade 2 level) The child can be working in an inclusive environment without knowing they are working on different grade level
Mathletics is the only comprehensive mathematics program that provides instant access to thousands of digital and physical activities for practice, fluency and critical thinking in one place (3plearning, 2021, p1). The market gap this venture is addressing is its ability to differentiate learning for every child. For example if a child in grade seven is working below grade level (grade 2 level) The child can be working in an inclusive environment without knowing they are working on different grade level
Differentiation
Differentiation
Some of the reasons someone will buy or use this product versus alternatives are:
Some of the reasons someone will buy or use this product versus alternatives are:
- It is very engaging
- The ability to quickly track and monitor student progress
- It aligns to the curriculum
- Mathletics employs teachers in various countries, and regions of countries to ensure their users are able to access a program that is specifically aligned to their curriculum, grade by grade. Other online math platforms are generally one size fits all, and the teacher has to evaluate if it aligns to their curriculum; or what parts of it does.
- The adaptive curriculum
- Ideal for students who benefit from extrinsic motivation
- The app can be used offline
- Students get to compete with other students across the world through the ‘live Mathletics feature’ where competitors are matched by their skill level
- Availability of printable work booklets in English, French and Spanish
Marketing
Marketing
Mathletics has a growing client base that currently reaches students and teachers in North America, Europe, Asia, and the Middle East. 3PLearning is the parent company of Mathletics. Much of the continued growth of Mathletics is a result of their discount pricing for schools, or districts that sign up for subscriptions for a large percentage of their students. Also, since Mathletics is a solid product that stands out from it’s competitors, word of mouth is definitely a way that new users are reached. Teachers and students using Mathletics share their enjoyment of the platform with other teachers, administrators, and parents, and the client base expands. Mathletics also employs online advertising (e.g. Facebook, YouTube), as well as cold-calling school districts. A free trial is offered to home users, or schools, who can access Mathletics, usually for a week or a month, at no cost.
Mathletics has a growing client base that currently reaches students and teachers in North America, Europe, Asia, and the Middle East. 3PLearning is the parent company of Mathletics. Much of the continued growth of Mathletics is a result of their discount pricing for schools, or districts that sign up for subscriptions for a large percentage of their students. Also, since Mathletics is a solid product that stands out from it’s competitors, word of mouth is definitely a way that new users are reached. Teachers and students using Mathletics share their enjoyment of the platform with other teachers, administrators, and parents, and the client base expands. Mathletics also employs online advertising (e.g. Facebook, YouTube), as well as cold-calling school districts. A free trial is offered to home users, or schools, who can access Mathletics, usually for a week or a month, at no cost.
Championship
Championship
Many of the advisors employed by Mathletics are teachers. When a school purchases Mathletics subscriptions for their students, they also receive training sessions from Mathletics employees who have a teaching background. Teachers know what is important and can therefore communicate effectively to other teachers. They have been in classrooms and know what is valuable, useful, and efficient.
Many of the advisors employed by Mathletics are teachers. When a school purchases Mathletics subscriptions for their students, they also receive training sessions from Mathletics employees who have a teaching background. Teachers know what is important and can therefore communicate effectively to other teachers. They have been in classrooms and know what is valuable, useful, and efficient.
- In Spring 2019, Mathletics received the ‘Academics’ Choice Smart Media Award
Competition
Competition
Some of Mathletics major competitors are : click here
Revenue
Revenue
Total revenue for the half-year ended 31 December 2020 was $23,924,000 (31 December 2019: $23,010,000). The Asia Pacific (‘APAC’) segment revenue increased by $904,000 from the prior half-year due to more customers choosing to accelerate the timing of their renewals which normally takes place in the second half of the financial year. Revenue in the United States of America, Canada and South America ('Americas') segment decreased by $77,000 compared to the prior half-year as a result of foreign exchange fluctuations. Earnings before interest, taxes, depreciation, and amortization (EBITDA) in the Americas segment improved by $1,015,000 compared to the prior year because of lower employee benefits expense and a reduction to short term occupancy cost. Europe, Middle-East and Africa ('EMEA') revenue increased by $87,000 as a result of an improvement to market conditions resulting from COVID-19 pandemic which drove a movement to hybrid learning (3P Learing, 2021, p6).
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