Assignment 3

Business Plan

Stanfordpedia provides Wikipedia style information about Stanford University. Its focus gives it a more in depth look at Stanford while it's wikistyle editing allows anyone to add to the collective information on Stanford.

While Stanfordpedia has not been designed for any initial profit, a large user base can ultimately lead to profits through advertising.
We expect the site to attract current students, alumnus, potential students, parents, faculty and other miscellaneous members of the Stanford community (employees, visitors, near by residents etc.) Initially I expect less than ten hits per day but with successful marketing and more widespread use we expect at max a couple hundred hits per day.

Costs

-Hosted for free on Wikidot.com
-no limit on size of wiki or extra fees associated with growth of website

-While initially content will come predominantly from me and friends willing to contribute, as our user base increases the content will come primarily from users
-Maintenance will also be needed to keep content current and implement any new technological advances in the future

-Time cost currently covered by me, the site administrator
-If content grows too expediently, the hiring of additional administrators to monitor content may become necessary

Revenue

-Wikidot.com allows for the addition of advertising and automatically gives 80% of advertising revenue to the site

-Google ads, Paypal, and private donations can also help defray any costs

Marketing

- Marketing will be key to successfully reaching widespread use.

- Chalking and fliers are extremely effective ways of reaching the Stanford community based at Stanford

- Adding links on Digg and Wikipedia on pertinent pages can also can provide free advertising

- Word of mouth advertising will also be important in helping Stanfordpedia gain a reputation on campus of being useful and practical

- Marketing will also be key in generating interest

- Quality will be necessary in helping popularize Stanfordpedia

- Advertising the website initially as a solid source about a particular topic, such as Stanford traditions, will be a good stepping stone to generating initial use

- Offering a coupon section for local businesses could also help bring in people to the website

User costs

-This site will be free to users
-no subscriptions
-Users need to join Wiki to gain editing power and contribute to Stanfordpedia
-membership is also free

last updated by Kevin Otsuka 6/11/08

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