The Cube
Using "The Cube" as a framework to analyze this venture, we will look at all the facets that VR 4 Trades Training has.
Market Focus
The target market for this venture can vary between K-12 education, higher education, and commercial level training.
Type of Offering
VR training for trades blends different types of offerings depending on the user. Typically this facet would focus on the infrastructure and content provided by VR systems and programs. Although, companies do provide services such as rentals, courses, and remote training.
Buyers
The potential buyers in this particular case would be the companies/institutions purchasing the infrastructure for the learners. For example, a school or school district offering these programs to the learner.
Global Target
This venture refers specifically to British Columbia with their skilled-trades demand. However, VR for skilled-trades training can impact the global market. The scope of VR training can go beyond the skilled-trades market and has potential in many different demographics.
Market Status
The market of VR for trades training seems to be at the brink of incline in terms of accessibility. Factors such as cost and available software seem to be the limiting factor in it's current success. However, with the capabilities of technology increasing and the prices decreasing we should soon see growth in this venture.
Competition
VR for trades training is not intended to replace traditional training methods in either education or commercial setting. VR for trades training should act as a supplement to traditional methods. The ultimate goal for VR training should be to compliment other training methods in order to decrease risk, increase productivity, and reduce long term costs.