V-AIR HEADSET

Technopreneurship

Cora van Triest, Bas Jansen, Jan Pieten van Haaps

DHT2EC
Katharina Böhler – 453227
Maike Schnippering – 449971
Luzia Pleiss – 453235
Dide van Hardeveld – 447582
Jytte Dorst – 425115
 V-AIR Headset

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION...................................................................................................................3
External Environment...........................................................................................................................3
Inspiring external developments......................................................................................................3

CHAPTER 2: “LET YOUR VACATION START ON THE PLANE”..........................................................5

Target group...........................................................................................................................................5
The concept (minimum viable product).........................................................................................5
Research set-up.......................................................................................................................................6
Reason for this research.....................................................................................................................6
Research Objective................................................................................................................................6
Research question.................................................................................................................................7
Qualitative or Quantitative research?..............................................................................................7
Validity......................................................................................................................................................7
Reliability.................................................................................................................................................8

CHAPTER 3: BUSINESS MODEL.................................................................................................................9

Business model.........................................................................................................................................9
Value propositions and the connecting target groups..............................................................9
Channels..................................................................................................................................................9
Customer relationships.....................................................................................................................10
Key partners..........................................................................................................................................10
Key activities and key resources.....................................................................................................11
Future goals..........................................................................................................................................11

CHAPTER 4: FINANCES...........................................................................................................................12
Revenues................................................................................................................................................12
Costs........................................................................................................................................................12

SOURCES......................................................................................................................................................15

APPENDICES.................................................................................................................................................18
APPENDIX 1..............................................................................................................................................18
Situation Analysis................................................................................................................................18
Strategy...................................................................................................................................................19
4. Tactic and Action............................................................................................................................25
APPENDIX 2  INTERVIEWS.................................................................................................................29
APPENDIX 3  ANALYSIS OF THE SURVEY......................................................................................41
APPENDIX 4  PERSONA......................................................................................................................44

Page 1
V-AIR Headset

APPENDIX 5  VALUE PROPOSITION CANVAS...............................................................................45

APPENDIX 6  BUSINESS MODEL CANVAS......................................................................................46
APPENDIX 7  SCENARIO PLANNING...............................................................................................47
APPENDIX 8  FINANCIAL CALCULATIONS....................................................................................47
Cash Flow...............................................................................................................................................57
APPENDIX 9  CREATIVE PROCESS REFLECTION..........................................................................62
Katharina................................................................................................................................................62
Maike.......................................................................................................................................................64
Luzia........................................................................................................................................................67
Dide.........................................................................................................................................................69
Jytte..........................................................................................................................................................71

Page 2
 V-AIR Headset

CHAPTER 1: INTRODUCTION

EXTERNAL ENVIRONMENT

THINKING ABOUT THE FUTURE

“It is not the strongest species that survive, nor the most intelligent, but the most responsive to
change”

This statement by biologist Charles Darwin is equally applicable to businesses nowadays as it is

to nature, since many companies encounter difficulties facing the shifts of what is about to
come, and like Huffington post already stated in 2014, “Long-term business success means
seeing the future”

So, during the procedure of establishing a feasible business model it was consistent to begin by
envisioning the possible circumstances and challenges it could have to face in a few years. After
creating a future scenario planning based on research, two trends were standing out and taken
into consideration, the growing experience economy and the increase of automatization. (see
appendix 7)

The Website trendwatching.com even calls the experience economy “the future of customer
experience” and furthermore claims that it originated from the more and more digitally
influenced business models, the conversion to instant social sharing through “stories” and
lastly, the over-competitive business environment. (2017)

According to Forbes Magazine is this economy highly on the rise which as most consumers in
the 21. Century look for additional usability from brands and providers they indulge in and
prefer an authentic experience whenever they interact with a company instead of the familiar
process of simply buying a product or receiving a service. (2015)

On the other hand, does the increasing automatization and upward movement of robotics seem
to emerge more steadily as well.

As stated by the McKinsey Global Institute will automatization and artificial intelligence have
aggrandized contribution to the economic growth and will therefore have huge potential to
transform businesses and generate value in various products and services.

INSPIRING EXTERNAL DEVELOPMENTS

Apart from these futuristic insights there are already a few major developments happening
which were also used as an inspiration. For instance, the virtual personal assistance which is
provided through smart home and other devices and slowly becomes an expectation from
consumers and support the daily life with more efficiency. Although, they are meant to struggle
with not being tailored enough they are a good example for “machines that adapt to humans”
instead of the other way around, says the AI expert company yseop. (2017)

Page 3
V-AIR Headset

Furthermore, when looking at the development of virtual reality devices like glasses, headsets or
connectives that are usable for the phone, the industry that extended the interactive
experiences with it to a high-standard quality was porn. Since 2014 the porn industry is helping
the technological breakthrough of VR by working on it with their own products and services.
(vr-world.com, 2017)

Also, authenticity is playing a big role in especially technological trends of today because as
reported by Tourism Review are many purchases you can make seen as rather untrustworthy or
even suspicious due to the increasing digitalization. That means it is essential to provide
technologies that offer enhanced authentic experiences when using them.

Lastly, is one of the biggest following trends in terms of consumer behaviour the combination of
business and leisure travel, called “Bleisure travel”.

As stated in Travel Weekly, does the blending of these two areas create a whole new market of
sales opportunities and therefore, received a multitude of attention in the past time. (2017)

Furthermore, does the 2016 consumer trends report of travel weekly allow insight into the
percentage of leisure trips that have a business component, the amount increased from 11
percent in 2012 to 17 percent in 2015.

Marvin Lee, the account manager for marketing and alliances at Asiana Airlines, believes in a
future for this kind of travel experience as he claims, “The bleisure segment was an inevitable
evolution that will only continue to get larger and larger.” He explains that by mentioning the
ever-growing globalization of business and technology which will eventually cease in the
disappearance of the once clearly defined line between business and leisure travel. (2017)

Because of all these trends and developments that have the potential to disrupt current and
future events in several industries, but also leave room for improvement, they are the premises
considered regarding the final product and business model in this handout.

Page 4
 V-AIR Headset

CHAPTER 2: “LET YOUR VACATION START ON THE PLANE”

TARGET GROUP
The chosen target group for the MVP are Business travelers. Business travelers are the most
suitable target group since they do not have a lot of time to explore the destination while being
on a business-related trip. The V-AIR headset could be a perfect fit for this consumer type
because it would enable them to already explore the destination beforehand, and that while
being already on the way to it. Furthermore, the user will have the opportunity to familiarize
with the location and book activities that attract them so that they can spend their time as
efficient as possible.

THE CONCEPT (MINIMUM VIABLE PRODUCT)

According to Marynych (2018) a Minimum Viable Product is a product that has been developed
with just enough features in order to please the first users of the product, the product still is
ready-to-use.

V-AIR
While generally business trips can be exhausting as they usually consist of a short time frame
but lots of business-related undertakings it can result in a strict time schedule that leaves
almost no time for leisure purposes. With V-AIR the user does not only have the opportunity to
use the time more effectively, but doing that while being completely shut off from the
surroundings in a plain and long flight. Therefore, is V-AIR perfectly qualified to be used on
long-haul flights (lasting longer than six hours), where the time investment is the biggest. Also,
contains the product multiple options for inflight entertainment and is able to be used in
connective mode, making it possible for travel companions to enter the same virtual
environment and do their planning’s together.

FEATURES
V-AIR gives flight passengers the opportunity to experience their flight in a completely different
way. The product can have a relaxing effect for everyone that struggles with flight anxiety or is
just feeling uncomfortable when being trapped in a plane for several hours by blinding out the
noise and surroundings around them. Furthermore, can consumers choose to adjust the solar
altitude in the virtual destination of choice to prevent a possible jet lag due to difference in
time.
All that can be achieved by providing two different modes (for now) where passengers have the
choice to discover the destination and the airport, their hotel and surroundings in 360-degree
virtual world or watch a movie in a virtual theater or read a book in a relaxing atmosphere of
their choice. While discovering the destination, passengers can choose where they would like to
explore by walking around with a small, one hand-fitting controller. The choices will, for
example, consist of: cafes and restaurants, cultural and historical items, or activities and
adventure.

Page 5
V-AIR Headset

With the help of a personal assistant that works with Artificial Intelligence, bookings and
reservations can be made and simultaneously be added to their schedule and attractive
locations send on their phones. While seeing an interesting spot where the passenger would like
to go, there also is an option of showing reviews from former visitors. As it is also an option to
already find one’s way through the airport, a maximum of efficiency for the arrival can be
warranted.
By working with the frequent-flyer program “flying blue” the system of V-AIR can keep track on
the preferred choices in the destinations that already had been visited and suggest tailored
locations and events for the next trip.
Since the headsets are in constant connection to the plane, missing out on the pilots or flight
attendants’ announcements is not possible. If there appears to be a threat in any kind of way
and the passenger’s full attention is needed the glasses will be shut off.
Lastly, if passengers travel together they can choose the “connective” mode, this means that
groups of travelers can enter the Virtual Reality world together. In this way planning activities
together is not only easier but also more fun and gives them the opportunity to already have an
impression of the place.

FUTURE DEVELOPMENT
For the future, the V-AIR has several expansion possibilities. To start with, several modes can
be added in order to attract a different target group, leisure travelers, and by adding new
features like a kid’s mode in video game vision with quests to fulfill and real rewards to receive,
actual video games for the older ones and more social modes, it could provide an occupation for
everyone.
The second possibility would be to add payment methods to the VR world. This feature would
be even more convenient since passengers would not have to wait in line anymore at the
attractions with their tickets because they still have to pay but contemporary this of course
involves some dangers as well that would have to be figured out first.

RESEARCH SET-UP

REASON FOR THIS RESEARCH

In order to create a thought-through business concept and provide a valid decision-making
process within it it requires to be underlined with cogent research for the purpose of making it a
sustainable establishment for future environments, and a vital addition to the tourism industry
and its technological development.

RESEARCH OBJECTIVE
The objective of this research is to gain a deeper insight into the potential of virtual reality with
regards to the tourism industry by interviewing experts from the field and by making surveys
for the assumed target group, in order to find out if the concept being developed will last in the
future and will lead to a suitable and useful customer experience.

Page 6
 V-AIR Headset

RESEARCH QUESTION
In order to find out more about more about technical developments that could be shifting the
tourism industry, the leading question in this research is, “Which factors will have influence on
the development of technology with regards to tourism?”

QUALITATIVE OR QUANTITATIVE RESEARCH?

Researches have opted for triangulation, a combination of both qualitative and quantitative data
collection method. The reason to make use of that is traced back to the fact that they
“supplement each other very well so that a comprehensive answer to the central question is
given” (Verhoeven, 2016).
Because of that, the methods of data collection, an online survey and also interviews with
professionals were used. Unfortunately, the research team’s resources were limited, otherwise it
would have been desirable to also opt for experimental research. Such an experimental
approach could have been undertaken by letting the subjects fill out a survey without ever trying
out Virtual Reality Headsets and after experiencing V-AIR (pre- and post-testing). This would
have crucially contributed to the effect unfamiliarity can have on a person’s perception towards
a certain product.
By surveying a bigger group of people that represented our assumed target group, business
travellers, a lot of information about their behaviours and their preferences during business
travel has been gathered. (see appendix 3) Through this quantitative method of research the
formerly ‘assumed’ target group could be set.
The qualitative research in the form of interviews have been carried out at the e-day NEXT GEN
in Amsterdam on October 11th, 2018 and were made with several professionals in technology
and marketing that were present. (see appendix 2)
Lastly, more qualitative research has been done via desk research in terms of reading and
analyzing digital and literal articles.

VALIDITY
According to Verhoeven (2016), researchers’ neutrality can be at stake, when being too involved
in a certain task. Therefore, it is inevitable to take a critical look at the reliability and validity of
the research.
In terms of validity, several aspects had to be considered to test if the research is free of
systematic mistakes and as a result, the conclusions drawn make sense.
Based on in-depth desk research about the speakers at the Next Gen event, a representative
number of respondents has been chosen for the interviews. Even though it was not possible to
interview all speakers the team wished for, a surprisingly number of experts regarding
technology hosted stands in one building, who were willing to contribute to the development of
this start-up.

Page 7
V-AIR Headset

As mentioned by Nel Verhoeven (2016), “employing certain interviewing techniques” can be

considered to assure a high level of construct validity. Applying different probing methods,
mostly by means of elaboration and follow-up questions, lead to a solid result. Nevertheless,
not all interviews have been recorded - some have only been captured by taking notes of the
most important answers. As a result, there is possibilities to reflect on that are limited.
To further improve construct validity, data collection turned out as well-founded as suitable
sources had been used to support given statements and led to underpinned and significant
conclusions. Due to this application of triangulation, it is safe to say that this research is
internally valid.
Lastly, the extent to which it is reasonable to generalize the result to similar situations was
examined. The conclusions drawn when answering the research question, namely “Which factors
will have influence on the development of technology with regards to tourism?”, can be useful
for other product developments regarding virtual reality. Also, some findings can be generalized
for other target groups apart from the chosen one, to expand market shares.

RELIABILITY
The Reliability was rather difficult to achieve in terms of the survey. Although, it was only sent
to people that fit in our target group it would have been more reliable if more people had been
asked and not only twelve which led to less diverse answers, especially regarding the age of the
respondents. But unfortunately, could not many business travellers be reached by the survey
due to a lack of connections to them. Additionally, did the survey have a few mistakes in the
questions that were only detected after the answers were already made (see appendix 3). This
includes missing answer possibilities when asking for age (age groups were missing) and travel
methods (no 0 available for the different transport possibilities). Still, were helpful and valuable
responses given that were used for support in the decision-making process.
Nevertheless, were interviews with professionals made and therefore the answers had in general
a solid reasoning. Still, small setbacks needed to be faced as not everyone was familiar with
virtual reality technology but yet, could questions regarding our concept, its feasibility and
sustainability be asked which was a success.
The data collection has been made with reliable sources only and can therefore be seen as
sufficient.

Page 8
 V-AIR Headset

CHAPTER 3: BUSINESS MODEL

BUSINESS MODEL
“A business model describes the rationale of how an organization creates, delivers, and
captures value.” (Osterwalde, Pigneur, 2010)
In this chapter the nine-building blocks of V-AIR are shown and described.

VALUE PROPOSITIONS AND THE CONNECTING TARGET GROUPS

A value proposition describes what value is being created for the customer. But who is that
customer, for who is the company creating value? The BMC of V-AIR counts 2 different value
propositions both related to a different target group.
Value proposition number one is related to the business traveler and goes as follows: “Escape
the feeling of being in a plane. You move into the virtual world and we show you all the ins and
outs of the destination you are heading towards, which you were not having time for beforehand
and even be able to book the activities you don't want to miss out in real life beforehand.”
The value proposition is created after research. During the process of developing the product
the pains and the gains of the product have been taken in consideration. The value proposition
canvas can be found in the appendix.
This value proposition is focused on business travelers because research, by meaning of a
survey, shows that business travelers often have limited time to spent on their destination. More
detailed information about this survey can be found in the appendix 3. The persona of the
business traveler can be found in the appendix 4. This persona is based on desk research. More
than 80% of the respondents says that they do not have enough time to explore the destination
while being on a business trip. With the V-AIR they will be able to see a lot of the destination
while being on the airplane. Besides, the product gives the opportunity to make reservations
before arriving at the destination. Due to that fact, business travelers can save time and enjoy
the destination a bit more.
The second value proposition is related to the companies: “Reach the international Business
Class through alluring Advertisement, and Brand appearance in our glasses. Make sure they
book your place/activity before even setting foot in the destination.”
Besides customers, V-AIR will have businesses as customer that are located in the destinations
that are available in the VR-world of V-AIR. These businesses will be promoted in the VR-world
by means of that headset users have the option to make reservations at those businesses. Next
to that, businesses have the ability to advertise via pop-ups in the VR-world. These options will
lead to a new revenue stream.

Page 9
V-AIR Headset

CHANNELS
The channels say something about the way a business keeps in contact with their customers.
V-AIR needs channels for their marketing plan and to allow customers to make use of the
headset. Marketing will be done via multiple channels. KLM, to start with, will be a channel, via
this channel customers are able to come in contact with the V-AIR headset. V-AIR needs KLM, or
any other airline, as a channel because it wants to offer customers a whole new experience in
the VR-version of their destination while being completely shut off from the environment
around them and therefor give them a more pleasant flight experience.
Besides, KLM’s website will also be a channel because of the fact that there will be marketing for
V-AIR via this website. Another marketing channel will be V-AIR’s website.
Next channel is social media. V-AIR’s goal of social media is to get people involved. By means of
getting a lot of visitors and therefore possible likes on the social media pages.
Furthermore, online newspapers and magazines will also be channels. Especially when the
business traveler is the target group that is aimed for.

CUSTOMER RELATIONSHIPS
The customer relationship is what the business offers to the customer when it comes to
relationships, what type of relationship does the customer expect?
To give the customers the best experience possible with V-AIR, a personal VR-assistant is
offered in the VR-world. With the help of this personal VR-assistant customers are able to make
bookings and reservations but they could also ask the assistant for recommendations and nice
places to visit in the VR-world. Together with the assistant a to do list could be created. This to
do list will be sent to the customer, after they left the airplane, via email.
Besides the V-AIR users, one of the named customers are the businesses in the destinations
that can be booked via the VR-world. It is important to keep in good contact with them and
provide them with information.  

KEY PARTNERS
To create a whole new VR-world, VR headsets are needed. These will be provided by Skylight.
Skylight offers the Allosky headset, a lightweight design VR headset that is only 250 grams.
(Skylight)
This VR-world can only be created when there is footage of the destinations of the business
travelers. The company named Ascape will be our supplier for footage. Ascape has a library with
footage that V-AIR can use to make their VR-world.
V-AIR needs an airline that can rent out the product to customers. KLM will be the first airline
that brings V-AIR to the market. Due to that fact they will have an advantage on their
competitors. KLM leases the headsets from V-AIR and can then rent the headsets to their

Page 10
 V-AIR Headset

customers. Desk research shows that KLM is already in to virtual reality. This also is a reason to
work together with KLM. (Garcia, 2017)
Furthermore, Korean Airline will become a key partner in the second year, that will, next to KLM,
rent out our product. The choice of Korean Airline is based on desk research that shows that
people in this area of the world have huge interest for technology and are mostly well know with
VR. This is combined with the fact that research shows that people who are not familiar with VR,
are unlikely to make use of the V-AIR headsets. (Turak, 2018) Next, Korean Airline is known as
the number one when it comes to innovative airlines, but they do not offer a VR-headset.
(Kollau, 2012) Also, Korean Airlines is part of Air Alliance, which makes it easier to work
together with KLM and Korean Airline.
Lastly, Mocute is also a key partner. Mocute is the company that sells V-AIR the controllers. With
these controllers V-AIR users are able to walk around in the VR-world.

KEY ACTIVITIES AND KEY RESOURCES

What does a business need and what has to be done to establish the value proposition?
To keep the business running, VR headsets are needed with particular software that makes the
product different from any other. Because of this, a software development employee is needed
in the company. First of all, the software has to be created and later on kept up to date. When
V-AIR wants to expand in a later stage of the business this could be done with the help of the
software development employee.
In addition to making V-AIR a well-known company there has to be a marketing plan. This plan
will be described more in depth in appendix 1.
Furthermore, V-AIR would like to expand in the future. Therefor is one of the key activities to
come in contact and marketer other airlines to lease out the product to.
another way to expand is to come in contact with more businesses at the destinations, in this
way there could be more advertisement in the VR-world.

FUTURE GOALS
Until now, this chapter contains all the information about the business model of the current
concept. V-AIR would like to expand the product in the coming years.
In the coming years, V-AIR would like to start working together with new key partners. KLM and
Korean Airline are both member of Air alliance, besides those two airlines V-AIR would like to
expand and work together with more airlines from this alliance who offer long haul flights.
Besides, the current business model shows that business travelers are the main target group. In
the coming years V-AIR would like to broaden their target group to business travelers and
leisure travelers. A way of doing that is to make new modes available in the VR-headsets. These
modes will not only offer a VR-assistant but could also have options to play games and watch
movies. The survey (see appendix 3) shows that people would like to use VR-headsets to use

Page 11
V-AIR Headset

these options. When doing this, the target group will become bigger and therefore the revenue
stream will rise.
Furthermore, the business model tells that Ascape, a key partner, provides the footage of the
destinations we need. In the coming future, V-AIR would like to create our own content for the
destinations. When this will happen, V-AIR becomes more independent because we do not need
that particular key partner anymore. Besides, the product will be more tailored because of the
fact that V-AIR can decide what footage they need and find important.
Lastly, V-AIR would like to look in to the options of growing bigger than just air travel, V-AIR
would like to expand to long train travel as well. The product could be mostly the same and add
the same value to a trip as V-AIR does to air travel.

Page 12
 V-AIR Headset

CHAPTER 4: FINANCES

REVENUES

RENTING OUT THE GLASSES TO BUSINESS PEOPLE

This Revenue Stream is generated through Renting out the product to the customers which
means it is variable and effected by the amount of products rented out. The revenue is
generated through Transactional Sales.
In the first year an amount of calculated 74 business people will pay 19€ to use the glasses per
day. For the exact calculation procedure and reasoning for these numbers and the setting of the
price, please have a look at appendix 8.1.1.a. Therefore, a revenue of 383893€ will be
generated in the first year by renting the glasses.
In the second year a total Revenue of 2487619€ with 457 customers a day is expected to be
generated.
For Reasoning, and Calculations take a look at appendix 8.1.1.b.
In the third year, a total Revenue of 3451636€ with about 634 passengers a day is expected. For
the exact calculations please take a look at the appendix 8.1.1.c.

COMMISSIONS
A second Variable Revenue Stream is a brokerage fee. Commissions will be generated as soon
as an Attraction/Restaurant/Transportation service is being booked via the Software. The
Commission fee, which will be paid by the Service Company will be 12% of the amount spend by
the Tourist. For reasoning for the height of the commission, take a look at appendix 8.1.2.a.
The Revenue therefore is variable and highly effected by the amount and expense of the
bookings made. It was estimated, that about 10% of our daily customers will make an average
booking of 25€. Therefor we calculated the following Revenue per Year:
1st Year: 8136€ 2nd Year: 50.042€ 3rd Year: 69.423€
For further explanation to the calculations have a look at the appendix 8.1.2.b

COSTS
One of the most important Fixed Assets are the VR glasses, and Controller provided by the
Partners SKYLIGHT and MOCUTE. The Glasses and Controller are bought in the beginning of the
year and the cost will be in form of depreciation found on the P&L account. As the cost of the
glasses and controller will not be affected by the amount of people who actually will rent them,
those are fixed costs.

Page 13
V-AIR Headset

BUYING THE VR GLASSES (ALLOSKY) – SKYLIGHT

With a cost of 430€ per pair of glasses and a need of around 100 glasses per day in the first
year, the expenditure in the first year is about 40850€ for the glasses and will be listed as
depreciation cost as follows:
Cost: First year: (3/6) x 40850€= 20425€ Second Year: (2/6) x 40850€= 13617€
Third Year: (1/6) x 40850€ = 6808€
(find the calculation and reasoning in the appendix 8.2.1.a).
Due to a rise in customers through both airlines in the second year, and (457- 74) 383
additional customers per day, an extra of about 400 new glasses are needed for around (400 x
430€ x 0.95) 163400€. This expenditure will again be depreciated over 3 years.
The exact calculation and reasoning for Korean Air as second Partner can be found in the
appendix
Cost: Second year: (3/6) x 163400€ = 81700€ Third Year: (2/6) x 163400€ = 54467€
For the third year it was estimated that an additional 177 customers (634- 457) would use the
glasses per day, which is why an addition of about 200 glasses will be needed for the second
year. The Expenditure for the second year with regards to the glasses, would therefore be (200
x 430€ x 0.95) 81700€
Cost: Third year: (3/6) x 81700€ = 40850€
For the Total Cost of Depreciation for the first three years, take a look at appendix 8.2.1.b.

BUYING THE CONTROLLER - MOCUTE

1st Year: 728€ 2nd year: 3640€ 3rd Year: 5096€
for exact calculations and more reasoning, take a look at the appendix 8.2.2.a

LICENSING THE VR VIDEO CONTENT - ASCAPE

A Cooperation is planned with “Ascape”, the deal is that their VR video content of multiple
Destinations will be licensed, whereas we will pay them about 30.000€ for their service per
Month, 360.000€ a year. This cost is independent of any turnovers generated, which is why it
counts to our fixed costs. How exactly the price was estimated can be looked up in the
appendix 8.2.2a.

MARKETING EXPENSES
For all three years a fixed cost of 60.000€ will be spend on the marketing strategy and a
depreciation of an exhibition stand of about 167€ a year additionally.
For more in depth explanation, take a look at appendix 8.2.3.a

WAGES
Another very important asset of our company will be our employees in Software engineering,
Marketing and Communication and Connectivity Support Execution, which we will be essential to

Page 14
 V-AIR Headset

fulfil all Key Activities. The Gross pay per year has been calculated to 154.000€ for all wages.
For more insight into the calculations, please take a look at appendix 8.2.4.a.
For the P&L account, opening balance sheet and cash flow generated in the first three years,
take a closer look at the appendix 8.3 Especially for the Cash flow take a look at calculations in
the appendix 8.4.

Resolving from the results of the cash flow statement, it was estimated that a total investment
of 170.000€ will be needed. It is planned to generate 20.000 via crowdfunding and 150.000 via
angel investors. For the exact calculations and reasoning for types of investment, take a look at
appendix 8.4 and 8.5
It was calculated that the investment can be paid back after about 1 year and 1,5 month. The
NPV of the investment will be after three years time 1.621.607€ and thus worth the investment.
(for calculation about the pay back time and the NVP take a look at the appendix 8.5. and 8.6)
One weakness of our business model Is that it only consists of fixed costs and variable
Transactional revenue streams. A possible risk therefore is, that not enough customers are
attracted to use the service in the first three years to be able to cover all the fixed cost and to be
able to pay back the investment. Therefore, it is very important to work on a successful
marketing strategy and enlarge our network of partner airlines, to reach a greater market.
On the other side, fixed costs and variable revenue streams, is a chance in generating more
profit than expected in the end.
In the near future, it is planned to invest more into VR content with an additional Partner,
“Visualise” and therefore be able to target a broader market. More detailed information about
the future investments can be viewed in the appendix 8.7.

Page 15
V-AIR Headset

SOURCES
Chaffey, D (2018, May 1). How to define SMART marketing objectives . Smartinsights, retrieved
from: https://www.smartinsights.com/goal-setting-evaluation/goals-kpis/define-smart-
marketing-objectives/
Ferguson, R. (2018, January 2nd). News Flash: Business Travelers love loyalty programs. The wise
marketer. Retrieved from: http://www.thewisemarketer.com/airline/news-flash-business-
travelers-love-loyalty-programs/
HEATHFIELD, S. M. (2018, August 03). What Are Travel Expenses And Expenditures? Retrieved
October 28, 2018, from The Balance Careers: https://www.thebalancecareers.com/what-
are-travel-expenses-1918280

Marynych, A. (2018, February 15). What is a minimum viable product and how to build it right .
Retrieved October 20, 2018, from Anoda: https://anoda.mobi/what-is-minimum-viable-
product-and-how-to-build-it-right/

Moon, M. (2018, September 24). Alaska Airlines is offering VR movies during certain flights .
Engadget, retrieved from: https://www.engadget.com/2018/09/24/alaska-airlines-allosky-
cinematic-vr-pilot/
Nbtc (2017, may 2). Meer Nederlanders op zakenreis in 2016. Retrieved from:
https://www.nbtcniporesearch.nl/nl/home/article/meer-nederlanders-op-zakenreis-in-
2016.htm
Swan, S. (2018, January 29). A Sostac Plan Example. Smart Insights, retrieved from:
https://www.smartinsights.com/digital-marketing-strategy/sostac-plan-example/
95% of Travel Planning study respondents report reading travel reviews prior to booking. (2015,
January 6), Hotel News Resource. Retrieved from:
https://www.hotelnewsresource.com/article82018.html
Lammers, H. (2017, October 23). Mindestlohn in den Niederlanden ab 1. Januar 2018. Euregio.
Retrieved from: https://grenzinfo.eu/eur/mindestlohn-niederlanden-ab-1-januar-2018/
Bleisure Travel Becomes Big Business (2017, September 14). Travel Weekly. Retrieved from:
https://www.travelweekly.com/Strategic-Content/Bleisure-Travel
Newman, D. (2015, November 24). What is the experience Economy, And should your Business
care? Forbes. Retrieved from:
https://www.google.nl/amp/s/www.forbes.com/sites/danielnewman/2015/11/24/what-is-
the-experience-economy-should-your-business-care/amp/
Manyika, J. & Sneader, K. (2018, June). AI, automation, and the future of work: Ten things to
solve for. McKinsey Global Institue. Retrieved from: https://www.mckinsey.com/featured-
insights/future-of-work/ai-automation-and-the-future-of-work-ten-things-to-solve-for

Page 16
 V-AIR Headset

Jaumann, A. (2018, July 24). Future of Robotics & Artificial Intelligence. Geospatialworld.
Retrieved from: https://www.geospatialworld.net/blogs/future-of-robotics-artificial-
intelligence/
Bushnell, M. (2018, February 21). The future of Business Travel Technology is Bright & Bizzare.
Business News Daily. Retrieved from: https://www.businessnewsdaily.com/9910-future-
business-travel-technology.html
Hausold, A. (2018, May 7). Technologies shaping the future of travel. Tourism Review. Retrieved
from: https://www.tourism-review.com/the-future-of-travel-is-shaped-by-technology-
news10584
Krizsak, C. (2017, May 15). VR-Pornos: Der ultimative Guide 2018. Vr world. Retrieved from:
https://vr-world.com/vr-porn-der-ultimative-guide-2017/
Manning, A. (2017, September 14). What can we expect from Siri and other virtual personal
assistants in the future? Yseop. Retrieved from: https://yseop.com/blog/siri-virtual-personal-
assistants-future/
Ascape. (2018, 10 28). About Ascape VR. Retrieved from Ascape: https://ascape.com/business
Booking.com. (2018, 10 28). How much comission do I pay? Retrieved from Booking.com
Partner Help: https://partnerhelp.booking.com/hc/en-gb/articles/212708929-How-
much-commission-do-I-pay-
Braham, L. (2015, 06 12). How much does it cost to keep an aircraft on the ground? Retrieved
from Linked In: https://www.linkedin.com/pulse/how-much-does-cost-keep-aircraft-
ground-lee-yissachar-braham/
Bundesfinanzministerium. (2000, 12 15). AfA- Tabelle - Bundesfinanzministerium. Retrieved
from Bundesfinanzministerium:
http://www.bundesfinanzministerium.de/Content/DE/Standardartikel/Themen/Steuern/
Weitere_Steuerthemen/Betriebspruefung/AfA-Tabellen/2000-12-15-afa-103.pdf?
__blob=publicationFile&v=1
GEARBEST. (2018, 10 24). GEARBEST. Retrieved from MOCUTE - 052 VR Bluetooth Game
Controller - BLACK: https://www.gearbest.com/game-accessories/pp_676877.html?
wid=1433363&currency=EUR&vip=14972515&gclid=Cj0KCQjwjbveBRDVARIsAKxH7vme
W0TK3brGA57EKRyOgDeNG_jGKv5iNKEADeBTn35BZFrcVCPTuY8aAggJEALw_wcB#anchor
GoodsFAQ
KLM. (2017, 01 01). Annual Report 2017. Retrieved from KLM: https://annualreports.klm.com
KLM. (2018, 10 28). Seating Plans. Retrieved from KLM Royal Dutch Airlines:
https://www.klm.com/travel/nl_en/prepare_for_travel/on_board/seating_plans/index.ht
m
Korean Air. (2018, 10 28). Aircraft. Retrieved from Korean Air:
https://www.koreanair.com/global/en/traveling/aircraft-info.html

Page 17
V-AIR Headset

O´Shea, R. J. (2018, March 29). PLANE PASSENGERS CHARGED 8,900% MORE FOR IN-FLIGHT
FOOD AND DRINK, REPORT FINDS. Independent. Retrieved from Independant.
PayScale. (2018, 10 28). Social Media Manager in Amsterdam Salary. Retrieved from PayScale:
https://www.payscale.com/research/NL/Job=Social_Media_Manager/Salary/fb1b910c/A
msterdam
Payscale. (2018, 10 28). Software Engineer Salary. Retrieved from Payscale:
https://www.payscale.com/research/NL/Job=Software_Engineer/Salary
Q4Launch. (2017, April 11). MARKETING TO BUINESS TRAVELERS: THE ULTIMATE GUIDE.
Retrieved from Q4Launch: https://q4launch.com/marketing-to-business-travelers/
SKYLIGHT. (2018, 10 28). ALLOSKY HEADSET. Retrieved from SKYLIGHT:
http://www.skylights.aero/skylights-allosky-vr-headset/
Visualise. (2018, 10 28). How much does VR cost=. Retrieved from Visualise:
https://visualise.com/2018/06/360-video-production-costs
Wikipedia. (2018, 10 26). KLM. Retrieved 10 28, 2018, from Wikipedia:
https://en.wikipedia.org/wiki/KLM#Fleet
Wikipedia. (2018, 10 23). Korean Air. Retrieved from Wikipedia:
https://en.wikipedia.org/wiki/Korean_Air
YONHAP NEWS AGANCY. (2018, 02 24). S. Korea budget carriers handle record 20mln
passengers in 2017. Retrieved from YONHAP NEWS AGANCY:
http://english.yonhapnews.co.kr/news/2018/02/24/0200000000AEN20180224001300
320.html

Verhoeven, Nel (2016). Doing Research - the Hows and Whys of Applied Research. Amsterdam,
The Netherlands: Boom.
Garcia. (2017). KLM VR Passengers. Retrieved from Tnooz: https://www.tnooz.com/article/klm-
VR-passengers/
Kollau. (2012). Innovative airlines: Korean Air. Retrieved from Airline Trends:
http://www.airlinetrends.com/2012/06/14/innovative-airlines-korean-air/
Skylight. (2018). Skylight's Allosky VR Headset. Opgehaald van Skylight:
http://www.skylights.aero/skylights-allosky-vr-headset/
Turak. (2018). Retrieved from CNBC: https://www.cnbc.com/2018/02/08/the-coolest-tech-
innovations-youll-see-at-south-koreas-2018-winter-olympics.html

Page 18
 V-AIR Headset

APPENDICES

APPENDIX 1
The following marketing planning is inspired and based upon PR Smith’s SOSTAC model. The
model consists of six parts: Situation Analysis, Objectives, Strategy, Tactic, Action and Control.
Developed in the 1990s, SOSTAC became a useful tool for business planning (Simon Swan,
2018).

SITUATION ANALYSIS
Taking up the external developments described in Chapter one and the detailed description of
internal operations of the previous chapter, a brief analysis of the company’s strongest
Strengths and Weaknesses, greatest Opportunities and Threats (SWOT analysis) was conducted
as an essential foundation of strategic planning.
The biggest strength of V-AIR lies within its uniqueness, meaning that the product does not
exist in a comparable way. Even though airlines such as Alaska Airlines do offer VR glasses
during certain flights, there is no such thing as an integrated travel assistant – the focus lies on
movies only (Mariella Moon, 2018).
Conversely, the fact that more and more companies are tapping into the field of virtual worlds is
the company’s biggest threat and could thwart the competitive advantage that the market offers
at that moment.
Yet customers are rather reluctant regarding VR, as the survey (appendix 3) has shown - due to
a lack of experience. Even though unfamiliarity – from both customers, but also the project
team itself regarding a company start-up is considered to be a weakness, it contains great
potential at the same time.
Furthermore, two trends determine the market we are aiming for – technology and ‘bleisure’.
The first one has been described in chapter one, whereas the second one refers to the growing
demand for a work-life balance.

OBJECTIVES
When setting the marketing objectives, the SMART criteria have been applied. The mnemonic
stands for the goal of creating Specific, Measurable, Actionable, Relevant and Terminated long-
term objectives (Dave Chaffey, 2018)

1. Within the first year of our company start-up, we want to acquire at least 5,000 new
customers via KLM, measured by the number of accounts set up on our website (note: If
someone rents the glasses, he/she must set up an account first, in order to being able to make
reservations/ bookings).

Page 19
V-AIR Headset

2. By getting 20,000 clicks on our website and reaching 30,000 people via Social Media, we
want to raise awareness for our brand and make customers more familiar with Virtual Reality,
and its possibilities regarding inflight entertainment, within one year.

STRATEGY

According to Porter’s generic strategies model, the focus lies on differentiation in this case, as
the start-up “strives for uniqueness, but still focuses on broad markets” (Lancée, 2017). Based
on that, the Value Proposition (appendix 6) was formulated to reflect that and to achieve the
objectives.

Lancée, E. (2017). Digital Marketing Strategy. The Netherlands: Lancée Enterprises

In addition to that, marketing purposes focus mainly on human based positioning. Word of
mouth and qualitative reviews are a Key Performance Indicator for the company, not least
because of the relatively unfamiliarity of the customers with virtual reality headsets. That way,
the company seeks to build trust towards the product and the brand itself.  

The following marketing planning is inspired and based upon Dave McClure’s Pirate Metrics
(AARRR model), a customer-lifecycle framework.

Page 20
 V-AIR Headset

Note: Based upon the fact that 8.6 million business trips have been undertaken by the Dutch in
2016, from which 4.7 million went abroad (NBTC, 2017), it was assumed that 20% of those
include long-haul flights, since no exact numbers could be found regarding this. For that
reason, the number of 940.000 (20% of 4.7 million) was taken.
At this point, it is safe to say that the following part lacks construct validity to a certain extent,
due to the fact that marketing channels were not part of the survey that has been distributed.
The survey took place in such an early stage of the product development process, that
marketing has just not been thought of when doing research. Therefore, the following strategy
relies mainly on assumptions and some scientific desk research only.
Acquisition
Potential customers can find and get in touch with V-AIR on the following online channels:

HOMEPAGES
Own Website - https://luzia-pleiss.wixsite.com/V-AIR

Page 21
V-AIR Headset

Page 22
 V-AIR Headset

Cooperating Airline’s Website – in this case KLM as an example

Page 23
V-AIR Headset

Page 24
 V-AIR Headset

SOCIAL MEDIA
Linkedin
Youtube Channel, making use of Search Engine Optimization
Instagram
Facebook Page

The goal of using social media is to get people involved and to motivate customers to share
their experience. Since the average age within the target group is 45 (appendix 4), serious
platforms such as Linkedin will be most suitable to focus on. However, V-AIR is designed for
everyone, which makes facebook and instagram a necessity to also attract business travellers at
a younger age. Sharing the company’s content (e.g. a campaign) and inviting others to join
certain events or to simply like the page, will help the company to spread (‘digital’) human-
based reputations. This kind of positioning has been selected to primarily maximize popularity
and reputation by anchoring “the value proposition clearly and deeply within the human
consciousness” (lancée, 2017).

NEWSPAPER/ MAGAZINES
Such as businesstraveller, entrepreneur etc.

Invite a journalist to test the product and to write an article about the experiences (Blogger)

Furthermore, offline marketing will play an essential role to promote the product. This will be
implemented by offering travellers the opportunity to test the product before entering the plane
at a stand at the airport. Further details will be described below, under ‘Tactics’ and ‘Action’.

ACTIVATION
To guarantee further interest in the product, the channels aim at making sure that users have a
great first experience. Therefore, V-AIR’s website gives the opportunity to sign up for the
newsletter (to stay updated about new destinations, new features or discounts). Furthermore, a
sales-demo video will be implemented to make the user aware of the added value and to
enhance ‘fear of missing out’. Moreover, the homepage offers an additional service, namely
signing up for a free try out on the next flight with KLM. Social media channels will be a
subordinate role and are mainly used to spread content such as pictures, the sales-demo video,
reviews and to guide users to the website for the named features.
These steps are all taken to result in a high conversion rate, in other words, to turn potential
customers into actual buyers.

Page 25
V-AIR Headset

RETENTION
To ensure that the product is no one-day wonder in the customer’s mind, but rather a repeated
must-have on every flight, different techniques regarding after-sales will be applied:
After having set up an account to use the headset in the first place, a list of all the places
visited, including highlights and reservations will be provided for the consumer after taking off
the glasses. That way, he/ she will have the chance to look things up again and to stay in touch
with the brand during the stay to eventually get the headset again for the way back.
If signed up for the Newsletter, updates will be distributed via E-mail.
Since ‘Business Travelers love loyalty programs’ (Rick Ferguson, CLMP in 2018), V-AIR will be
integrated to the airline’s loyalty program. In the case of KLM, renting the glasses will contribute
to the ‘flying blue’ system, resulting in more miles collected during a flight.
Ferguson, R. (2018, January 2nd). News Flash: Business Travelers love loyalty programs. The wise
marketer. Retrieved from: http://www.thewisemarketer.com/airline/news-flash-business-
travelers-love-loyalty-programs/

REVENUE
Revenues will be generated on the one hand via a fixed renting price per headset, and on the
other hand via commission fees via mediation - referring to reservations and bookings in the
virtual world. This will be further elaborated in Chapter 5.

Referral
Designed to spread benefits of V-AIR, Referral is a significant part of the marketing strategy.
First of all, the company relies heavily on reviews and therefore integrated a review system as
well in the virtual world, where people can share their opinion with other users. According to
Hotel News Resource, “business travelers reported reading an average of five reviews prior to
booking” ( Travel Planning study, 2015) - which is why reviews in the ‘real world’ will be a key
success factor and will be spread via social media channels. To boost qualitative reviews,
vouchers and discounts will be drafted within the amount of all reviews and/ or best pictures.
95% of Travel Planning study respondents report reading travel reviews prior to booking. (2015,
January 6), Hotel News Resource. Retrieved from:
https://www.hotelnewsresource.com/article82018.html

4. TACTIC AND ACTION

The following text provides a more in-depth understanding of how to realize the strategy:

ONLINE
Owned Website:

Page 26
 V-AIR Headset

catchy headline “Headsets on, Reality Off - Experience Now.”

Information about V-AIR (incl. Value Proposition)
Contact information (address, phone number etc.) and opportunity to get in touch
links to social media accounts
References (Video and Testimonials, e.g. “Planning your precious leisure time during a business
trip has never been easier.” - Jenny, 27)
Log-in platform for users
According to Jenny Pleiss, Client Relationship Manager at GrowCreate, an Umbraco and Episerver
agency, the estimate costs to build a website with such features amount to a total of
approximately 40.000€.

KLM Website
Under the section: World Business Class → Work, or play
When booking: Are you interested in renting a VR headset for your flight?
as part of their blog (Tips & Insights: 5 reasons why you should get a VR headset on your next
flight)
Assuming that promotion is part of the contractually governed leasing contract with KLM, no
additional costs will be calculated for this.

Linkedin

Page 27
V-AIR Headset

two to three posts a week (text, picture or short video)

paid advertisements
Linkedin offers different options to invest in online advertisements - a daily budget, a total
budget or as maximum bid. For this case, a total budget was chosen with a total amount of
2.000€ per year.
Retrieved from: https://business.linkedin.com/de-de/marketing-solutions/ads/pricing

Youtube
small teasers every now and then to present new features/ destinations (1 minute
approximately)
‘big’ videos (2 - 3 minutes) every four month
making use of Search Engine Optimization

Facebook/ Instagram
small updates (text, picture or teaser) once a week

Newspaper/ Magazine
invite journalists from different magazines for a free try-out to write about their experiences
(not necessarily on a plane, also possible to try at their office)

Page 28
 V-AIR Headset

OFFLINE
A stand at the airport will offer perfect opportunities to acquire new customers. While waiting
for the plane, businessmen and -women will get the chance to test the product, to ask
questions and to get personal advice. On the one hand, this campaign will make customers
more familiar with the product and the brand and boost word of mouth, on the other hand, it
gives an opportunity to get feedback and to even record some users of the headset for further
marketing purposes.
According to Florian Fuldner, project manager at sales.force!, a Customer Relationship
Management platform, the estimated costs for an exhibition stand amount to a total of 1.000€
with an economic lifetime of six years.
Assuming to offer side jobs for students, an hourly wage of 11€ will be paid (Lammers, 2017) .
To enhance customer services, two students will be employed per day. This sums up to a total
amount of 176€ per day (11€ x 16 hours). Having the stand for a duration of a month (as part
of a campaign), four days a week, the total amount will be 2.816€. In addition to that, a fee has
to be paid to the airport (in this case Schiphol). According to an employee at the advertisement
section of Schiphol Airport, approached by means of a phone call, this amounts to a total of
50.000€ per month.
Apart from that,, travellers will also be given the chance to have a free try out on the plane itself
for a duration of thirty minutes. ‘Try before you buy’ is essential to overcome the unfamiliarity
with Virtual worlds that most users are still facing, as the surveys have shown (appendix 3).

6. CONTROL

Whether the strategy was successful or needs some adaptations will be measured via customer
satisfaction surveys right after using the headset in the first three month. Furthermore, the
number of visitors on the several channels and shared posts will indicate the efficiency of
marketing.

Page 29
V-AIR Headset

APPENDIX 2  INTERVIEWS

CODING OF THE INTERVIEWS

Summary of Interviews
taken place and recorded on October 11th in 2018,
at the event “Eday Next Gen” in Amsterdam, Netherlands

1. Nick Oostervink, Business Developer & Knowledge Valorisation Officer at the KIN Center for
Digital Innovation

How do you think our lives will look like in the future, with special regards to technological
developments?
“That’s a very, very broad question. I think there are sort of two extremes, like one the one hand
it could be sort of like what they are developing in China right now, where everything is
constantly being monitored - they have the Social Credit System, so that’s sort of a dystopian
potential I think. On the other hand it could be that because of that innovations all our lives are
enhanced. So it’s basically sort of the Chinese version, but than privacy being OK.”

Coding:
- Look of our lives in the future
- Social Credit System
- Lives being enhanced

How will the tourism industry look like in the future?

“Yes, I can think of some things in the tourism industry, so a lot of stuff is happening with AI
and virtual reality and stuff like that, right? I can imagine that in 10 years maybe that stuff is
really developed and that you have a tourism office or something like that and instead of me
going to Bali, I go to you guys and spent two days in a virtual reality simulation”

Coding:
- Look on tourism in the future
- Virtual reality
- Artificial intelligence

How familiar are you with VR?

“Actually not that much, I actually have never had a VR glass on. That’s a pity, I know!”

Coding:
- Familiarity with Virtual Reality

Page 30
 V-AIR Headset

- Not familiar with VR glasses

How do you see the potential of VR?

“Very big. Tourism is a very big one, but also in attraction parcs, cinemas or maybe even health
care - when you recover from drama and stuff like that, I think that VR can help with that.”

Coding:
- Potential of VR
- Big within tourism
- Attraction parcs
- Health care
- Cinemas

Do you believe it could substitute travelling?

“Yes, sort of If I.. I just want to for a weekend to Bali and yea, I’m not going to fly up and down
to Bali, but if I can have the full experience - feel the sun in some way, I don’t know how these
sensations can be triggered, but in ten years there will probably a way to do that - so I can
imagine that like a weekend escape or “Oh tonight I really want to go to Japan”, just to
experience how it is - something like that I can imagine, I would pay for that!”

Coding:
- VR substituting in tourism
- Full experience
- Weekend escape

Explanation of concept. Any thoughts?

“As a first impression it sounds very useful, but at the same time it sounds a little bit like I just
need a better internet connection and then you could already have that, right? So that you can
make all plannings and look on lonelyplanet or whatever top ten list, if we have a better internet
connection on a plane.”
Coding:
- Usefulness
- Better internet connection

So you think it would not be useful, if you would just have Wifi on airplanes?
“No I’m just doubting a little bit the added value. So the first one you told about experiencing
the city a little bit like for real on the plane - I can see that happening, that would be really cool.
But at the same time I sort of have the idea that I could do that if I now have VR glasses and I
would make use of Google Maps Street View - that would already be that, right?” Coding:
- Not very useful

Page 31
V-AIR Headset

Yea kind of, but we are trying to connect everything on one software - basically you put on the
glasses, you’re in that world already, in New York or where ever you want to be right now and
you can just say “Hey, I want to have a business meeting at that café over there”, because I have
seen that it has this nice scenery and it’s exactly next to the office so I’m going to book that and
sent the address right to my phone.

“So it’s an emergence of Google Street View with all the functionalities of making a reservation
and stuff like that then.. I can see that happening!”
Coding:
- Emerge with google street view

Exactly, and you could even already book your taxi that picks you up at the airport.
“I would usually do that before, but if I can do that during the flight, that would be even better!”

Conclusion:
According to Nick Oostervink, Technology - and Virtual Reality in particular - will play an
important role in the future, especially with regards to the tourism industry. He definitely sees a
big potential in virtual worlds and even beliefs in the substitution of travelling to a certain
extend – if senses can be included. Concerning the concept we are developing, it will be crucial
to highlight the advantages of a VR headset in contrast to smartphones, which will be a great
competitor. What do we offer, what are the features that make a difference? (→ Being shut off is
what stands out, what adds value.)

2. Interview with Stéphanie Curfs, Nima - Netherlands Institute of Marketing

How do you think our lives will look like in the future, with special regards to technology?
→ flying cars, “Maybe that you can freeze your body and come alive 10 years later.. ”
Coding:
- Look of lives in the future
- Flying cars
- Hibernation

How will the tourism industry look like in the next 10 years?
→ Artificial Intelligence, Virtual Reality
Coding:
- Look of tourism in the future
- Artificial intelligence
- Virtual reality

Page 32
 V-AIR Headset

How familiar are you with VR?

→ Did it in Japan, where VR is a big thing – “ It's interesting, but I prefer to feel the wind in my
face”, potential for people who do not have enough money to travel
Coding:
- Familiarity with VR
- Quite familiar

How do you see the impact of VR in the tourism industry?

→ big impact concerning the choice for destinations ('try before you buy'), maybe people will
travel less, which will be good for the environment
Coding:
- Impact VR in Tourism
- Big impact
- Reducing ecological footprint

Explanation of concept. Any thoughts?

→ anticipating the first impression/ surprising effect is gone when you arrive, how can it
differentiate itself from the real experience? Would not do it, because going there to actually
experience the destination – why do so in the plane already?
Coding:
- Thoughts about concept
- No surprising first impression
- Not a real experience

With regards to the Business Model Canvas, who do you think we should sell the glasses to?
Directly to people, the airplanes or the producers of the planes?
→ Airlines would have competitive disadvantage of already selling movies, games etc. - why
choose another concept? What if something is happening, how do you make sure they will
receive the safety instructions on a plane?
Coding:
- Selling channels
- Airlines
- Safety instructions

Conclusion:
Even though Stéphanie Curfs does believe that VR will have an impact on the tourism industry,
she seemed very critical towards using it herself - it could never substitute the real experience
for her. Concerning the product, she would probably not use it, but is not part of the target
group we are aiming for either.

Page 33
V-AIR Headset

3. Thom Uildriks, Boxrs4ALL/ Champion of Pitching in the Netherlands

How do you think our lives will look like in the future, with special regards to technology?
“I think that a lot is going to be way more automatic - with AI especially, possibly Blockchain,
but I’m not too hyped about it, but it could lead to something maybe. And yea.. Self-driving
cars, possibly even self-piloting planes - I don’t know, everything is going to be so much easier
and automised I think.”
Coding:
- Look on lives in the future
- Automated society
- Artificial intelligence
- Blockchain
- Self-driving cars
- Self-flying planes

How familiar are you with VR?

“No, well, one time I have worn something that looks similar to it, but no real experience.”
Coding:
- Familiarity with VR
- Not familiar

Explanation of concept. Any thoughts?

“Sounds good, I think the trouble is going to be in, first of all, making the product, because like
it’s a physical thing with the software and I don’t know if tourism students know how and have
the technical knowledge to make something like that, but OK, imagine that you have the
product, I can really see it helping because I agree with “Oh shit I’m on this plane, what do I do?
I’ll just download netflix”, but if I could do stuff in advance which would save me time later, like
I hate checking in to hotels, I hate waiting for my baggage and stuff like that, if you can
somehow make that easier.. But yea, I think the challenge is going to be making it, but I think
that’s not really important and then you still need collaborations for all the different airports
and hotels and restaurants and so on, but you could work with thuisbezorgd or something like
that.”
Coding:
- Concept
- Trouble making the MVP
- Making the travel journey easier

Conclusion:
Thom Uilriks seemed very positive about the idea and could be a potential customer on one of
his business trips to Tansania for Boxrs4ALL. Due to lack of time, the interview had to be
shortened.  

Page 34
 V-AIR Headset

4. Pamela Pavliscak, founder ‘Change Science’

1. Future Development of Technology in 5-10 years?

Within 5 years she thinks that there will be less ‘screen interaction’ (such as mobile phones) but
more voice interaction with smart devices, personal assistants and contacts via voice devices.
She thinks there is room for improvement.
Coding:
- Future development of tech
- Less screen interaction
- More voice interaction
- Personal assistants via voice devices

2. With regards to Tourism industry?

She thinks that the biggest impact on tourism will be the climate change. She thinks that virtual
reality and the reducing carbon will have the biggest impact with regards to tourism. She thinks
that people will still have the need for connection, ways to bring people together, such as
AirBnB.
Coding:
- Future development in Tourism
- Climate change
- Virtual Reality
- Reducing carbon
- Need for connection (AirBnB)

3. How do you see its future potential?

She thinks that virtual reality will provide more assistance in the future and especially more
emotional assistance.
Coding:
- Future potential
- Virtual reality
- More assistance
- Especially emotional assistance

5. Roderick Hageman, Co-founder ‘The Talent Institute’

1. Future development of technology in 5 to 10 years

He did not know how to answer on this question.
Coding:
- Future development of Tech

Page 35
V-AIR Headset

- No idea

2. Are you familiar with virtual reality?

He is.
Coding:
- Familiarity with VR
- Quite familiar

3. How do you see the future potential of virtual reality?

He thinks that there are some disadvantages to this idea. The main disadvantages, according to
him, would be the quality of the VR glasses which is not that high standard yet. Secondly the
customers need to buy the glasses right now, nobody wants to pay €300,- for VR glasses, only
the bigger companies can afford it. He said that he would not pay an additional fee for the
glasses but he thinks that the VR glasses in a plane, in order to book and experience spots in
the destination, can be an additional experience.
Coding:
- Future potential of VR
- Disadvantages  Quality of glasses, only bigger companies can afford it
- No additional payment for use of glasses
- Additional experience

4. Do you think it may substitute a travel experience in the coming 10 years?

He thinks that the concept can be an added value to the flight experience, still he thinks it
depends on the quality of the VR glasses. If the quality of the VR glasses improves, he thinks
that the VR glasses concept during flights, will substitute the travel experience.
Coding:
- Substitution within tourism
- Add value
- Depending on quality of glasses

Interview business traveller, Henning Gude (customer)

How do you think our lives will look like in the future, with special regards to technological
developments?
I think we will have a lot of smart cities. I read about that and I think that that is something that
will have a big impact on our lives.

How will the tourism industry look like in the future?

Page 36
 V-AIR Headset

I think the tourism industry will change a lot. When I keep the smart cities in the back of my
head, I think that the destinations that people are going to are going to change. People would
like to see those smart cities and explore the unknown.

How familiar are you with VR?

Not at all to be honest, I have never used it.

But you know what it is?

Yes, I have heard of it.

How many times per year do you have to travel for work?
Approximately 9 times a year.

And how many of those 9 are long haul flights (6+ hours)?
About 4.

What is the length of your stay during most of these long haul flights?
That depends on the reason of my stay.

What is the minimum time?

Around 3 days.

What is the amount of leisure time you have on such a business trip?
When I am staying for only 3 days mostly not so much. The evenings are most of the time free
but sometimes I have to have dinner whit relations as well. Besides, I have mostly some time in
between meetings during the day.

How do you use that leisure time mostly?

Most of the time I stroll around the city or I finish some work that I have to do while being in my
hotel room.

Don’t you think it is a shame that you can only see small parts of your destination?
Sometimes I do, because if you go to a place you would really like to explore but you don’t have
the time for doing that while being there, that feels like lost time.

Page 37
V-AIR Headset

What could help you to explore/see more of the destination?

More time at the destination, haha.

Explanation of concept. What are your first thoughts?

That would be a good idea. But isn’t it just the same as google street view?

No, not really. The biggest difference is that you are wearing the VR headset which makes it
feels like you are really there. You don’t hear the noise of the airplane anymore and you can
look 360 degrees around you.
That makes a difference. But this doesn’t give me more time in the destination..

No, it doesn’t, but with the help of the VR personal assistance you can also make booking,
reservations and a to do list if you would like. By the help of this you could make the use of
your leisure time more efficient. Would you be interested in that while being on a plane?
That does sound good, I think I would use that while being on a plane.

What amount of extra money would you be willing to pay for this?
Not so much, maybe 20 euros.

Do you think other business travelers on long haul flights, for example colleagues would also
want to use this, and why?
I think some of my colleagues will and others wouldn’t. because they are not familiar with VR-
glasses.

What would change if we made sure that people are familiar with the glasses before going on
the plane?
I think people will use it quicker than when they never wore and experienced it. I would buy it
sooner when I already knew what to expect.

So you think that if we let people try the headsets beforehand at the airport that they will sell it
on the plane when they like the experience?
yes.

Page 38
 V-AIR Headset

CODE TREE
Social
credit
system Self-flying
Lives being planes
enhanced Self-driving
Automated cars
society
Blockchain
Future lives
Flying cars

More voice
interaction
Less screen
Artificial interaction
intelligence
Hibernation

Personal
assistance

Virtual
reality
Artificial
intelligenc
Future in e
tourism Climate Reducing
change carbon
Need for
AirBnB
connection

Not familiar
with VR
Familiarity with glasses
VR
Quite familiar

Page 39
V-AIR Headset

Attraction parcs

Health care

Big within
Cinemas
tourism

Reducing
ecological
footprint

Additional
experience

Potential of VR
More assistance

Virtual reality
Especially
emotional
assistance

Quality of
glasses
Disadvantages
Only bigger
companies

Weekend escape

VR substituting
Full experience Add value
in tourism

Depending on
quality of glasses

In need of
better internet
connection
Emerge with
Usefulness Google Street
View
Making travel
experience
easier
Concept
No surprising Not a real
first impression experience

Trouble making
MVP

Page 40
 V-AIR Headset

Competitive
disadvantage
Selling
Airlines
channels Safety
instructions not
being heard

Page 41
V-AIR Headset

APPENDIX 3  ANALYSIS OF THE SURVEY

 Age:
25% - under 25 years
50% - between 25 and 35 years
25% - between 35 and 45 years
 Amount of traveling per year (average)
By car: more than 5 times
By train: 5 times
By plane (short distance): 5 times
By plane (long distance): 3 times (2,5)
++ hard to calculated the average, as there is the amount >5 , which could be any number
above 5++
 how to spend the time on their flight:
5.6 – Sleep
5.3 – Watch a movie
4.8 – Read a book/ magazine/ newspaper..
3.7 – make preparations for the destination (planning the free time/ reading a travelguide..)
3.4 – communicate with neighbour/ colleagues
2.6 – Working / staring out of the windoW
 How much leisure time do you have on a business trip?
25%:
0
0
0

41,66%:
10%
2h per day (in the evening)
2h per day
depends, average 2,5h per day
3h per day
33,33%:
on a 7-day trip – one leisure day

Page 42
 V-AIR Headset

mostly every evening (and weekends), sometimes also afternoons

up to 5 hours a day (mostly the afternoons)
a couple of hours for sure! - on long distance trips for more than one day
 Do you feel like having enough time to discover the destination you are at?
16,7% YES
83,3% NO
 Think of something that would help you to use your time more efficiently
14,28%
Plan my trip better beforehand
57,14%
Personal Assistance – helping to plan
Assistance in planning trips
A planner/ and research how to spend leisure time at the place
Good guide will save a lot of time
28%
Better Mobility at the destination for leisure time
Driver will come in really handy

 For which reason would you like to use a VR headset on a long haul flight?
58,3% - to explore the destination you are going to in advance
50% - to plan the time you have more efficiently
50% - Watch a movie
16.7% Interact with other avatars in the virtual world
16.7% None of the reasons above
8.3% - play games
8.3% - Help me deal with flight anxiety or boredom
 If you had the chance to use a VR headset on your next flight, would you favour that over
the activities you usually do?
25% NO
I need to experience it first
Not enough experience

Page 43
V-AIR Headset

Nice for flights – but BORE me pretty quick

75% YES
22,22%:
Its way more intense and FUN experience than looking at a screen
Could be FUN
33,33%:
NEW experience
Haven´t tried anything like this before
Very first time doing that during a flight. let´s see if I like it.
11,11%
Then I don’t have to work

22.22%
Use the time in the airplane for preparations
To plan my trip while being on the plane.
11.11%
I do not really like flying, so It would be great if the VR glasses could help with this
 How much would you be willing to pay?
58,3% - Nothing
41,7% - Less than 20€
16,7% - 20€-50€

Suggestions:
should be a business model were i dont have to pay extra for the vr headset but rather it is
payed for by advertisement or by what I book or consume while using the headset. Extra cost
would be a big entry barrier for people to use it.

Page 44
 V-AIR Headset

APPENDIX 4  PERSONA

Page 45
V-AIR Headset

APPENDIX 5  VALUE PROPOSITION CANVAS

Page 46
 V-AIR Headset

APPENDIX 6  BUSINESS MODEL CANVAS

Advertisement  Via Social Media, online newspapers, adds on other websites, adds in the flight
magazines, stands
Leasing of VR glasses  To KLM to start with
Updating VR glasses  Keeping the system up to date
Finding new customers  In order to sell more VR glasses to new airlines
Developing new ideas  Developing additional features for the glasses, staying innovative
Software development employee  Provides algorithms so the system can function and can be
updated and new features can be added

Page 47
V-AIR Headset

APPENDIX 7  SCENARIO PLANNING

APPENDIX 8  FINANCIAL CALCULATIONS

8.1.1a.

With the mean of information gathered from the KLM website, published numbers of the fleet
size of the company and the knowledge about which air plane models are made for long distant
flights, the amount of 1742 seats for long haul flights was calculated (KLM, 2018; Wikipedia
2018).
For instance:
The long haul airplane “Boeing 777 – 200 ER” has 28 World Business Class seats (KLM, 2018),
and KLM currently owns, according to Wikipedia (2018) 15 pieces of this machine  which leads
to a total of 420 seats for only on this machine.

According to Braham (2015), “every minute a plane is on the ground, it loses money”, which lead
to the conclusion that a company is more economically sufficient, if all their airplanes are in the
air. Furthermore, Braham (2015) states, that airplanes are forced to do maintenance checks
during the year, which is why it is estimated, that about 3,5% of the time an airplane is being on
the ground in order to proceed through checks and possible repairs.
This would mean about (1742 x 0.965) 1681 World business class seats are used per day.

Page 48
 V-AIR Headset

Next up, KLM published in their annual reports from 2017, that the occupancy rate in the plane
was about 88,4% in 2017[ CITATION KLM17 \l 1031 ]. This number was used for calculating how
many seats approximately are occupied per day, which leads to (1681 x 0.884) about 1486
world business class seats per day.
In this point the research external validity is lower, as the occupancy rate of the whole plane was
taken and not specifically of the World Business Class.

Furthermore, it is to be considered that the World Business Class is not only occupied by actual
Business traveller, but also leisure traveller, who updated their tickets for the more comfortable
seat in the World Business Class. Therefore, the density of actual Business Traveller might vary
from destination to destination. An estimation of about 50% Business traveller in the Business
class per Long haul flight is being made.
This leads us to an amount of 743 Business passengers per day from KLM.

Due to the survey 75% of the business people would like to try the V AIR glasses, whereas 50%
would be willing to pay for the service. Nevertheless, with regards to limited Videos of the
Destinations in the beginning of the start up and the broad unawareness of the quality of VR, as
conducted by the survey, it is estimated that in the first year every 10 th business traveller will try
our service.
This makes an amount of 74 Business people per day and 27.120 business traveller per year.

It is planned to offer the first 15 min for free and let the customers then decide whether they
want to pay for the service or not.
The simple reason for that is the outcome of the Survey, which stated that 25% of our
participants would not use the glasses, as they are not familiar with the technology. With letting
them have a taste of the product and the service, we aim to make it more valuable for the
consumer. On this way we try to boost our sales for the following years.

According to Q4Launch (2017), Business travellers are not price sensitive, as usually their
companies pay the bills. On top of that, it is proven, that in airplanes the prices go up for
products, which can be purchased, as the flight company in that situation is a
Monopoly[ CITATION OSh18 \l 1031 ]. Furthermore, due to boredom, or inefficiency on long haul
flights, additional Entertainment, which assists the person additionally in planning their trip in a
fun way, and makes them forget their actual enclosed environment, will become of great value
with respect to the circumstances. In addition to that, the survey provided information, that
around 50% of people would pay for the service, 35% said they would pay less than 20€,
whereas 15% would pay 20-50€. This fact may be used as supporting argument, but not for

Page 49
V-AIR Headset

main reasoning for the set pricing, as with 12 participants the reliability of the survey is rather
little.
A last opponent for determining the pricing was the cost structure of our Business Modell. With
regards to all the fixed costs we have, the pricing has to be adapted to cover the expenditures
as soon as possible.

Therefore, a price of 19,00€ for the V AIR product was established. As the launching customer,
KLM will get 25% of commission on our product. With (4,75€) revenue per product for KLM, we
expect them to be motivated to sell as many of those glasses as possible and help creating
awareness through their Marketing channels.
Additional Partners, that are planned on in near future, just like Korean Air in the second year
will be able to generate a commission of 20% per sale made.

8.1.1b.
In the second year it is expected, due to a good Marketing strategy, and free trials during the
flights, to generate a rise in sales of 8% with KLM.
Furthermore, Korean Air will be launched as our second Partner. Sales with Korean Air are
expected to be, just like KLM 18%.

Calculation of possible customers on Korean Air´s long haul flights per day:
The number of seats for Korean Air was deducted the same way as it was done for KLM. A look
was taken at the size of their long distance Air fleet and the included First class and Prestige
Class seating. Therefore, a total amount of 4762 seats was calculated (Korean Air, 2018;
Wikipedia 2018). Again from those an estimated 3,5% of the time per year is spend on
maintenance and the rest of the time the airplanes are estimated to be on the go. Which
resolves in a total amount of around 4595 seats available per day.
Korean Air´s occupancy rate in 2017 was 78%, published by YONHAP NEWS AGENCY (2018).
Therefore, around 3584 seats are occupied per day in the first and prestige class of Korean Air
´s long haul flights.
Again the Validity is lower here, as the occupancy rate is referred to the total amount of seats on
the plane and not only on the two classes explicit.

Of this amount of seats which are occupied, again, about 50% are estimated to be taken by
actual business travellers, which resolves in a total amount of 1792 Business traveller on long
haul flights per day with Korean Air.

Page 50
 V-AIR Headset

Estimation of second Revenue Stream:

In the second year, the total amount of customers via KLM is due to strengthened awareness
with the help of our Marketing strategy, estimated to 18%. With Korean Air about 18% of
customers are estimated to be using our product. One reason for the high entrance of Korean
Air may be that possible customers already flew with KLM in the past year, due to code sharing
and sharing the same alliance, and therefore already experienced the VR glasses.

KLM – Revenue:
An amount of about 134 business traveller will be attracted per day on KLM´s long haul flights
and a total number of 48815 passengers in the second year.
This resolves in a revenue stream of around (134 x 14.25€) 1910€ per day and 695615€ in the
second year.

Korean Air:
If the estimated number of customer is accurate, an amount of about (1792 x 0.18) 323
passengers will use the glasses per day and 117734 over the year. As mentioned, Korean Air
will be able to retrieve 20% of the 19,00€, which resolves in a higher revenue for the company
per glass (19,00€ x 0,8 = 15,20€). Therefore, a revenue of about (323 x 15,20€) 4910€ a day
and 1792004€ over the year only generated by Korean Air customers.

Total Revenue: 2487619€ with 457 customers a day – 166805 a day

8.1.1.c
Estimation of the third Revenue Stream:
In the third year, the total amount of customers is due to strengthened awareness and more
Destination Video Material, estimated to 25% with both airlines.

KLM – Revenue:
If the estimated number of customer is accurate, an amount of about 186 passengers will use
the glasses per day and 67798 over the year. This resolves in a revenue of about 2651€ a day
and 966132€ over the year only generated by KLM customers.
Korean Air:

Page 51
V-AIR Headset

If the estimated number of customer is accurate, an amount of about (1792 x 0.25) 448
passengers will use the glasses per day and 163520 over the year. A revenue of about (448 x
15,20€) 6810€ a day and 2485504€ over the year only generated by KLM customers.
Total Revenue: 3451636€ with about 634 passengers a day – 231410 passengers a year
8.1.2a
Booking.com, asking for commissions reaching from 12% per booking to up to 17% per booking,
was a leading example for setting the height of the commission per booking [ CITATION Boo18 \l
1031 ].
8.1.2.b
Kutschera (2018) stated, that 38% of people book their trip on the day itself or two days prior.
Further, it was estimated that of that 38% about 20% will be booking the trip at the same day of
departure and about 10% of those will be booking it via their phones or Laptops, which leaves
about 10% of our customers per day booking a service via our software. Further we estimated
that the Average booking via our Platform will amount 25€ (having in mind the range of
businesses such as Transportation, Restaurants, Attractions).

1st Year: 0.10 x 27.120 (customers in the first year) x 3€ (25 x 0.12) = 8136€
2nd Year: 0.10 x 166.805 (customers in the second year) x 3€ = 50.042€
3rd Year: 0.10 x 231.410 (customers in the second year) x 3€ = 69.423€

8.2.1a
Reasoning:
Although there are far cheaper models on the market we decided for this company. Not only for
their high quality standards, but also because their product is tailor made for the Travel
industry[ CITATION SKY18 \l 1031 ].

By standing in contact with Khuyen Ly Bao, the B2C Marketing Manager of SKYLIGHT, it is known
that Skylight asks 430€ per glasses.

Email:

Page 52
 V-AIR Headset

As we estimated in our Revenue Stream, about 74 people will use the glasses in the first year
per day in KLM flights (27.120 per year). This leads to the conclusion that an amount of 100
glasses will be ordered by AlloSky with an estimated bulk order discount of about 5%. This leads
to an expenditure of (100 x 430€ x 0.95) = 40,850€ for the glasses in the first year. The
economical lifetime is being estimated on 3 years, whereas the set economical lifetime of a
notebook was used as a guideline[ CITATION Bun00 \l 1031 ].

Page 53
V-AIR Headset

As it is a technological device and therefore its worth will shrink rather quickly due to the high
speed of change in technologies, it will be depreciated by the Sum of the digits method over
three years. Additionally, we presume, that we won´t be able to sell the glasses after the three
years economical lifetime, as they are useless without the software and most likely will be
outdated by that time.

8.2.1.b

Total Cost of Depreciation for the first three years:

1st year: 20425€ 20.425€

2nd year: 13617€ + 81700€ 95.317€
3rd Year: 6808€ + 54467€ + 40850€ 102.125€

8.2.2.a
It was decided to buy the Controller for the VR glasses from MOCUTE, as they are small and easy
to handle with little buttons and are able to connect via Bluetooth, so perfect for the small space
on the plane [ CITATION GEA18 \l 1031 ].
As they are very cheap and expected to be used every day, an economical lifetime of half a year
was estimated. Therefore, the following costs were calculated for the following three year:
1st Year: 100 glasses  200 controllers
 200 x 3,64€ = 728€

2nd Year: (100 old glasses + 400 new glasses)  1000 controllers needed
1000 x 3.64€ = 3640€

3rd Year: (500 old glasses + 200 new glasses)  1400 controllers needed
 1400 x 3.64 = 5096€
8.2.3.a

“Ascape” is a company, situated in San Francisco which produces VR video content of diverse
Destinations and license those to Companies of the Tourism Industry, such as “Thomas Cook”
and “Lonely Planet”, it is a perfect match for our purposes [ CITATION Asc18 \l 1031 ].
With standing in contact with the CEO of Ascape VR, Valeriy Kondruk, it was ensured that
licensing costs will vary from 10.000- 35.000 dollar a month, depending on what is planned to

Page 54
 V-AIR Headset

be done with it. As the Video Content will be used for the product and changed by the company
´s software engineers to make the virtual world more interactive, an amount of 30.000€ per
month was estimated for our purposes. In the following we enclosed the mail.

Mail:

Page 55
V-AIR Headset

Gm a il - Ho w m u c h wo u ld it c o s t t o lic e n s e yo u r Vid e o Co n t e n t ? 2 8 .10 .18 , 12 (0 1

Maike S c hnip <maike s c hnip@g mail.c o m>

Ho w muc h wo uld it c os t to lic e ns e yo ur Vide o Conte nt?

Vale riy Ko ndruk <[email protected]> 26. Oktober 2018 um 21:11
An: [email protected]

Hi Maike,

Thanks for the clarification. My understanding is that you only need this info for your research project without the
actual intention of making a deal. So, theoretically speaking, we can provide you our entire library of content
(which currently includes over 1000 pieces) for a monthly fee of $10,000-$35,000 depending on the licensing
rights and terms.

I hope, this would help.

Thanks and good luck with your project!

Valeriy
Valeriy Kondruk
CEO of As cape VR
http://ascape.com
+1 415 2440746 | [email protected]
Ascape app for iPhone | Android
F: ascapevr T: @ascapevr I: ascapevr

On Wed, Oct 24, 2018 at 10:17 PM Maike Schnip <[email protected]> wrote:

Dear Valeriy

Thank you very very much for your quick response! We would like to have videos of different destinations,
where the customer can walk through the destination and have the feeling of being there. We would like to
integrate all the sights and places to be of the destination so people with little time like business traveller can
see them and decide where he would like to go in his tiny schedule for leisure time. We therefore would like to
ask from your company to Film destinations as detailed as possible for us.. would it high pathetically possible to
start a cooperation with your business and therefore pay you a set amount of money per month? And in return
your continue providing us with videos from destination around the world? Would this be possible in that form?
And if so how much money would it cost us per month?

Again thank you so much for your help! This information will be a great enrichment for our project!!

Warm regards,
Maike Schnippering

Am Donnerstag, 25. Oktober 2018 schrieb Valeriy Kondruk :

Hi Mike,

Thank you for reaching out to us. We'll be happy to help.

Are there any specific videos you want to use? Could you give us more details on how you're going to use the
videos?

Thank you,
Valeriy

Valeriy Kondruk
CEO of As cape VR

h t t p s :/ /m a il.g o o g le .c o m / m a il/u /0 ? ik= f4 e 4 0 f8 b 4 f&vie w= p t &s e a rc h …s g - f%3 A16 15 4 16 3 6 74 6 8 13 78 5 0 &s im p l= m s g - f%3 A16 15 4 16 3 6 74 6 8 13 78 5 0 Pa g e 1 o f 2

Page 56
 V-AIR Headset

8.2.4.a
As a big entrance barrier would be, that a lot of people are not familiar with the VR world yet, I
would be good to lay a focus on Marketing approaches, next to software engineering and the
processing of bookings, in the first years. On what exactly the amount of 60.000€ will be spend
on can be read in the detailed Marketing Strategy in the appendix (..).

In addition to that, an exhibition stand for around 1000€ will be purchased, with an estimated
economical lifetime of 6 years (Bundesfinanzministerium, 2000). Therefore, an annual
Depreciation of 167€ will be listed as a cost. Here it is presumed, that we will not be able to sell
the stand for any money in the end of the 6 years of usage.

In addition to all those, a website will be created for 40.000€ with log in options for customers,
this will be listed as a fixed asset (take a look at the marketing part).
8.2.5.a
Through conducted research it can be concluded, that an average gross pay for a software
engineer in the Netherlands is about 42.000€/ year [ CITATION Pay18 \l 1031 ]. We estimated that
we may need two of those to start of with, in order to create our virtual assistant and the
options in the VR world for bookings. A Marketing and Social Media Manager in the Netherlands
costs, according to PayScale (2018), about 35.000€/year. It was estimated that one FTE of this is
needed to boost our Marketing most efficiently. At last, a Connectivity Support Executive will be
needed, who takes care of the bookings, generated through the V AIR Platform. Exact numbers
about the gross pay of this expert could not be gathered, which is why the payment was
estimated the same as for a Marketing and Social Media expert, which was 35.000€. This has a
slight influence on the Reliability of our financial outcome, as the exact salary could not be
determined.
8.2.5.a
It was decided to buy the Controller for the VR glasses from MOCUTE, as they are small and easy
to handle with little buttons and are able to connect via Bluetooth, so perfect for the small space
on the plane [ CITATION GEA18 \l 1031 ].
As they are very cheap and expected to be used every day, an economical lifetime of half a year
was estimated. Therefore, the following costs were calculated for the following three year:
1st Year: 100 glasses  200 controllers
 200 x 3,64€ = 728€

2nd Year: (100 old glasses + 400 new glasses)  1000 controllers needed

Page 57
V-AIR Headset

1000 x 3.64€ = 3640€

3rd Year: (500 old glasses + 200 new glasses)  1400 controllers needed
 1400 x 3.64 = 5096€

8.3 P&L, opening balance sheet, cash flow generated

8.4.

CASH FLOW

For the start of the business, 100.000€ will be brought into the company by the 5 founder
(20.000€ each) as Owner`s Equity. This money will be used to buy 100 Glasses, 200 Controller
which will be needed in the first year to generate Revenue. On top of that an exhibition table
and the website are bought, to build the channels and marketing strategy upon. This will lead to
an amount of 17.422€ on the bank account.

In the first year a cash outflow of minus 178.427€ will be generated during the operating of the
business. As the owner´s equity and the amount of money that was spend on the fixed assets is
not considered in this number an amount of 17.422€ hast to be added (100.000€ - 40.850 –
728 – 1.000 – 40.000). This concludes to a cash flow statement of minus 161.005€ after the
first operating year.

In the second year there will be a cash in flow of about 1.630.703, whereas new inventory will
be bought for about (163400€+3640€) 167.040€, which has to be substituted from the inflow
(1.630.703€ - 167.040€ = 1.463.663€). In addition to that, the cash outflow from the first year
will be substituted, which resolves in a cash flow statement of (1630703€ – 167040€ -
161.005€) 1.302.658€ plus at the end of the second year.

In the Third year a positive cash flow of 2.379.125€ is expected to be generated. From that
again, the bought inventory for this year, has to be substituted, which accounts to (81700€ +
5096€) 86.796€ (2.379.125€ - 86.796€ = 2.292.329€). The additional cash flow in the third
year therefore is estimated to be 2.292.329€. If you then add that on the cash inflow of the
second year, the cash flow statement of the third year will account to 3.594.987€.

Page 58
 V-AIR Headset

All those numbers are generated, if no money is spent on Investing into the company, or having
any dividend paid out.

8.5.

FINANCING AND INVESTMENT PLANNING

An additional Investment of 170.000€ will be needed before the start of the business in order to
cover all the expenses in the first year and some additional money to be covered for unexpected
costs. A bank is unlikely to provide a loan, as there is not any credibility. The aim therefore is to
ask for 20.000€ via crowdfunding and an addition of 150.000€ from angel investors. The aim is
to not only be able to start the company through the money invested, but also take advantage
of the knowledge and expertise of the angel investors. Via the crowdfunding it is planned to not
only gather the amount of money needed to start the business, but also promote our concept
efficiently. The money will be use to cover part of the licensing costs for the video content.
The pay back of the investment by angel investors will be done by about 1 year and 2 month.

CALCULATIONS:

170.000€ – 161.005€  our cash flow in the end of year one will remain positive with the
investment and will account to about 9.500€.
This will be worth at the end of year 1 : 9.500€/ 1,06 = 8.962€

Page 59
V-AIR Headset

The second year the cash flow will be worth: 1.463.663€/ (1,06)^2 = 1.302.655€
In the third year the cash flow will be worth 2.292.329€ / (1,06)^3 = 1.924.684€

1.302.655€ / 12 month = 108.555€ per month

108.555€/ 30 days = 3.618€ per day

 150.000€ - 8.962€ - 108.555€ = 32.483€

 32.483€ / 3.618€ = 8,98  about 9 days

This mean, it will be possible to pay the invested amount back after an estimated time of 1 year,
a month and 9 days.
8.6
The Net Present Value of the Investment is about
8.962€ + 1.302.655€ + 1.924.684€ - 270.000€ (total amount of investments) = 2.948.377€
The invested money of the angel investors will be (150.000/270.000) 0,55% of the total
investment and therefore the NPV for the investment will be 2.948.377€ x 0,55 = 1.621.607€
after three years. Thus it is worth investing in the company.

8.7

INVESTMENT AND FINANCING

In the near future it is planned to widen the market with expanding with the company “Visualise”
which will be creating tailor made video content for the company´s need for about 100.000€
per video of a destination[ CITATION Vis18 \l 1031 ]. Still, they do not only make VR videos of
destinations, but can also create fictive VR worlds for our purposes. With this partnership we
also will be able to expand on different modes, such as treisure hunt for children and video
game mode, to offer the ultimate entertainment also for the economy class, whereas the price
for the device will have to be adjusted. Therefore, the positive cash flow will be generated in the
first two years to arrange an additional partnership with Visualize, where they will get about
100.000€ a month to create tailor made video content for us. This will resolve in a needed
investment of 1.200.000€ per year generated by the positive cash outflow.

Page 60
 V-AIR Headset

APPENDIX 9  CREATIVE PROCESS REFLECTION

KATHARINA

1.INDIVIDUAL REFLECTION ON THE CREATIVE CONTRIBUTION

This modules group work I would describe as a little rollercoaster ride. In the beginning we were
all on the same page with things and had almost no struggles with doing the framework (Future
scenario planning, other industries assignment, learning about new technologies, early idea
finding process) but as soon as we were expected to have decided for a final concept to work on
it quickly became a bit frantic, especially during disappointing brainstorm sessions.
My contribution in that whole process was diverse as we did not distribute any overall responsibilities because
everything was connected to each other. Firstly, after the group was in despair of not finding an idea, a group
member and me sat down together again in a more creative environment and were eventually coming up with the
concept that we decided and worked on these past weeks. Not only because of that I wanted to be engaged into
project decisions of course and was creating our name, logo and pay-off. Knowledge development in the form of
gaining insight into technology and presentation skills and research happened mostly for me during the research
sessions within the group and when preparing the pitch and when I analysed and interpreted the survey, because we
have not been doing that in this extent before. In the report I mostly worked on the Introduction, Scenario planning
and trends but then also had to spend more time on overhauling other parts.
But to come back to the mentioned rollercoaster ride, because we thought it would not be necessary in the beginning,
we did not agree on a project contract which caused some major troubles when it came to presence during class, as
some of us were always there and some were just not ,or meeting outside of class, because priorities vary by person,
but mainly when writing the report as everybody had their own part to formulate and to be responsible for by then.
However, deadlines needed to be postponed more than once and even then, some work that was delivered could not
be seen as qualitatively equal to others and due to a lack of time the research part then had to be fully edited again
which was frustrating to me as I already had to do a lot that day and it originally was not my task. So, the next time I
will definitely work with a contract again because I really do not want to end up in the situations I had to face in this
group work again.
Problems I had especially at the group work sessions we had in the beginning I did not really get
that all five of us really have to concentrate on one thing and already started to work on
something else but in that way I lost track a bit and sometimes later had to ask about decisions
that were already made and in that way obviously annoyed my group members a bit so I will try
to work on that.
Frankly, group work has never been my cup of tea. But this assignment was a lot about the
importance of the decision-making process and idea-finding for which a group is very
convenient to have as it enables different points of view and if everybody is working persistently
it can give you a lot of good contributions. In the future I will try harder to engage more into
working with others.

2. INDIVIDUAL REFLECTION OF THE RESULTS/ THE PROCESS OF THE INTERVIEW AND

QUALITY OF THE INTERVIEW

Page 61
V-AIR Headset

The interviews I did with Luzia, and it was one of my favourite parts of the whole project
because being at an interesting event that is fitting the topic of our project and having the
chance to connect with professionals of different industries to enhance our results was a one of
a time opportunity.
Even though we had to encounter one pretty arrogant guest speaker that did not seem really
interested in exchanging words with us and then ‘allowed’ us to ask him a few questions while
we were following that person grabbing a coffee did not feel very rewarding.
Fortunately, in comparison to that, did we interview Nick Oostervink, a business developer and
at the KIN Center for Digital Innovation with which we soon created a good and rather social-
emotional atmosphere and eventually had a very good talk and because the conversation felt
natural and it was easy to keep it going and instead of using only the questions we prepared
before I had the chance to ask a bunch of follow-up questions and deepen the talk.

The interview was successful as he turned out to have a lot of the same perceptions in his head
as we talked through in the seminars about future tourism technologies and when he was asked
about that he said: I can imagine that in 10 years maybe (…) that you have a tourism office or
something like that and instead of me going to Bali, I go to you guys and spent two days in a
virtual reality simulation”

All in all was that the best interview from the four me and Luzia managed to carry out that day
as it felt very natural and had some good insights like when he described our concept as “(…) an
emergence of Google Street View with all the functionalities of making a reservation and stuff
like that (…)” and added “I can see that happening.”

Even though I think for this event we did quite good, it would be nice to try out different kinds
of approaches next time and maybe prepare some more questions for when an interview is
going well and the chance is there to go more in depth although we barely had struggles with
making them up on the spot as we were in the topic already. Still, did that event give us future
professionals the chance to enhance our social and connective skills a lot, and even make some
linked in contacts.

Page 62
 V-AIR Headset

MAIKE

1.REFLECTION ON THE GROUP WORK

I must admit that in the beginning we had our struggles with this new module, we were trying to
develop our whole concept in the first week, till we realized this is not what was expected from
us. Then we were having struggles with actually keeping up with, what was expected from us
from week to week, whereas a lot of miscommunication and discussions made our work much
harder. I was feeling very frustrated, because I was not really seeing a clear line and could not
tell whether we are on the track. Furthermore, it was very annoying that a lot of times our group
was not complete, but then again if we were, we did a lot of the times not go anywhere as
everything was discussed and nothing was agreed upon by everyone. I have the feeling that we
were all very stubborn in some way, including myself, and that this was making our lives a lot
harder. Therefore, I realized that it is very important to have different, each other
complementing characters in a group, to support and get the best out of each other.
Furthermore, I think we should have started dividing tasks much earlier in our group work, as
this was proving to be more efficient, when we started doing that later.
Even around the end, with collecting every detail for the report, I sometimes had the feeling we
were not all on the same page, which also was due to, some members not regularly showing up.
I am not completely excluding myself here, as I was very busy with the wedding of my sister
around the middle of the project. Nevertheless, I was trying to keep up with things that were
discussed in my absence and tried to work out parts individually to support the group work
when I could not show up. I was frustrated that others sometimes did not tell us that they
cannot come to classes or meetings, did not check on what has been done nor offered their help
in the process. This is why, I realized over the time, that the engagement of some were stronger
than of others, which again was frustrating. This is how I realized this year, how important it is
to set up a contract within the teamwork, not mattering whether it is friends you are working
together with or complete strangers, but then everyone knows the boundaries that are agreed
upon.
For future group assignments I want to try to keep a better overview of tasks and try to be a
leader when it comes to task division, also trying to understand how to divide tasks so they fit
the team members´ strengths and it will not only be the best outcome but also lead to a better
working environment.
During the end phase of the project I had a feeling, I was contributing to a bad environment
inside the group through my frustration and was not able to enjoy fun situations anymore
during work. I realized though, that keeping a good atmosphere is essential for the working
outcome.
Furthermore, I feel that the division of the tasks was not done properly, for instance was I doing
the finance part on my own, where a lot of difficulties occurred to me. It would have been nice

Page 63
V-AIR Headset

to get some more help, when I had questions addressed towards my group, whereas one
member was trying to help me with questions, the others did not really. This made me realise
how important it is to work more in a team and support each other. Of course, we could have
made the division of tasks differently in the very beginning, but I think it is even more important
to see it as group assignment and help others out, when they need it or ask for it. For instance,
were some students done quicker than others, as their parts turned out to be not that as much
afford as expected, but still did not offer their help when others were having struggles with the
load of their assignment. All in all, this project made me realize how important it is to work in a
team towards same goals, with the same understanding of the preferred outcome of the work
and the same attitude towards working, and to safe all of this in form of a contract.

Personally, I am frustrated that I figured out a little too late on what exactly I need to focus on,
when doing the financial part, I could have saved a lot of time with working more closely to the
assessment form and therefore I want to try and improve my technique in that manner the next
time working on a report.

2. MY INTERVIEW

I interviewed Pamela Pavliscak, who hold a lecture about “Designing Emotionally Intelligent
Machines” on the E-gen event in Amsterdam. As she was one of the lectures holding
presentations that day, she was very busy answering a lot of questions from multiple people. I
started off with telling her my interests in what she was talking about and, showing that I paid
attention, with repeating most interesting facts and then started off with introducing myself and
shaking her hands. The atmosphere was very casual, but still rather pressured and noisy as a lot
of people were waiting in line. I started off with the project we are currently working on, and
why her expertise would be a great contribution to our work. “You just gave us an insight about
what the future will look like in 10 years with regards to Artificial Emotional intelligence. But
more broadly seen, how would you see the world in 10 years’ time?” While she was talking I tried
to keep a good eye contact, without making her feel uncomfortable and nodded when
statements were made. After her talking I tried to always repeat her most important statements
in my own words, while Jytte was taking notes, and then added a follow up question in the end,
also asking “so what do you think will be its influence (of artificial intelligence) in the tourism
industry?”. Thus, I always tried to vaguely guide the interviewee with my questions into the
direction the interview was expected to go.
In the end of the Interview we shook hands and we both thanked her kindly for her time.
Unfortunately, with her time pressure, we were not able to ask all the prepared questions. This
also has an influence on the quality of the research as, she probably did not give as elaborated
answers as she might have given in a different setting. It may be better for the next time, to
write her an email beforehand and with that make sure there will be enough time for all the
questions prepared. A difficulty also was to stay close to our prepared questions, and not be
pushed by her answers in a different direction, as she was really trying to relate everything to

Page 64
 V-AIR Headset

Artificial Emotional Intelligence, and did not really know much about Virtual Reality. Still, it was
interesting to gain more insight into possible use of artificial (emotional) intelligence in the
tourism industry, as it is a good contribution to our concept, which is why the generated
content of the interview was helpful after all. Also, I think It was really good, that Jytte took
notes, while I could concentrate more on the answers of the interviewee and formulate good
follow up- questions, which also made Mrs. Pavliscak, realize that we paid good attention and
respected her opinion.
Concerning the buildup of the interview, I think next time we should keep a closer look on
working with a theoretical framework in order to strengthen the construct validity.
Unfortunately, the questions were not underlined with any theory this time.
On the other hand, an advantage of the Interview set up, was the way the questions where
building a tunnel, so the Interviewee could start talking broadly about a topic and with every
further question we lead them into the direction, we want to know more about. With this
technique we made sure, that we do not lead them too much in the beginning and get the most
information out of the Interview.

Page 65
V-AIR Headset

LUZIA
Luzia Pleiss: Mission impossible
Technopreneurship might have been the biggest challenge during my studies so far, but it
taught me an important lesson: If I want to become an innovative entrepreneur one day, I need
to stop thinking in impossibilities, but rather in possibilities. As Nelson Mandela once said, “ It
always seems impossible until it’s done” – words that became the motto that guided me through
the past few weeks.
Inspired by that, stories about Elon Musk, science fiction movies, future scenarios and seminars
about new innovations gave me and another team member the right inspiration to have a
creative brainstorm session in which we came up with the idea of V-AIR.
By not missing out on any lecture or seminar, I gained the knowledge I needed to contribute to
the group work to a gratifying extend. Even though it was not easy for me to stay motivated
when I was facing a feeling of standing still, uncertain of where this project is heading to, I
always gave my very best. Unfortunately, I got the impression that not everyone in the group
shared the same principles - occasionally the group was not complete, which left me with a
great deal of frustration. For that reason, it would have been wise to have set up strict rules in
the form of a group contract, but I did not see it as a necessity first – a mistake I won’t do again.
An essential milestone for our start-up and beyond that, for me as a young professional in
particular was the NextGen Event in Amsterdam. I was well prepared for this day – I have done
precise research beforehand to help me find ways to approach certain speakers and had the
interview questions in mind. As a result, I felt very confident when I arrived at the event.
Together with another team member, we interviewed different experts from the field. While
most fellow students strived to interview speakers only, I am still delighted to not having
overlooked the potential of the experts at the stands, since those interviews contributed to a
great deal to the final concept.
The interviews could not have been any different from each other from a social-emotional
perspective. Some took place at a stand - the respondents were relaxed, in a good mood and
truly took their time for the interview, another time someone invited us to ask a few questions
while he was getting coffee, since he was in a hurry – standing in a queue, feeling a little
stressed affected the conversation, likewise with the last interview, where the respondent also
had a few minutes only. However, being able to record the interviews (after asking the
respondents for agreement) made things so much easier – during the interviews to maintain eye
contact, while evaluating afterwards and while writing this paper.
Regarding the technical perspective, I went through some parts of the Interview cycle without
actively thinking about it – some techniques like summarizing (“So you’re saying, that…”) and
asking follow-up questions (“Because of that, do you think…”) just came naturally. Yet I was
quite nervous and could have made better use of some simple techniques if I would have
thought of it purposely in this moment. I stuck mostly to the planning but should have gone

Page 66
 V-AIR Headset

more with the flow at one point. All in all, I really enjoyed being given the chance to network at
such an event.
Then, our group eventually got to the point where we could start writing the hand-out. While
working on that, I noticed that dividing the parts might need a different approach next time,
because some parts turned out to require much more work than others and therefore caused
great imbalance regarding the individual contribution to the final result.
That being said, I was pleased to be responsible for the marketing planning. Unfortunately, we
barely found time to prepare content for the marketing part during our group meetings, which
made it even more time-consuming for me, then again, I enjoyed being creative, was eager to
gain some basic skills on how to design a simple website and am pleased to have proved to
being reliable, ready to help team members and being able to cope with heavy workload.

Page 67
V-AIR Headset

DIDE
In this paper I will reflect upon myself and the work I delivered for technopreneurship. I would
like to start with the contribution in the concept development and after that I will reflect upon
the interview.
The biggest pitfall, for not only me but for the whole group, was that everything had to be
perfect right from the start. Every minor detail was discussed for hours. Because of this we
never made big progress. In my opinion it would have been better if we first made the broad
choices and would have worried about the small details later. While we were trying to make
everything perfect, we had discussions for hours, but we never put anything on paper. Later on,
we noticed that this came with a lot of confusion. We were not on the same page all the time
because everyone remembered a different part of the discussion hold. It would have been easier
if we had put everything on paper right form the beginning.
There were also some pitfalls for me. I found it hard during the module to keep an overview on
everything that was going on with our concept. This was because there are a lot of different
parts and sometimes I was not up to date on all of them. For the next time it will be better for
me to write more things down that are said during group meetings.
Besides, during the module we switched from one concept to a completely different concept. In
the beginning I found it hard to still be creative while you already have an idea in your head. In
the lectures and classes there was spoken of ‘the parking lot’. When we thought we found the
‘perfect car’ it was hard for me to keep searching for better ideas. In this case I have to be more
open next time. My most important learning goal during this module is to have a better
overview and to be on one line with the rest of the group by writing down what had been said
during group meetings.
I interviewed business traveler Henning Gude because that is the target group of our concept.
During this interview I started with some basic questions to understand what he already knew
about our product and industry. During the interview Henning gave extensive answers. For
example, I asked him how he thought the tourism industry would look like in the future. Before
this question I had asked him how he saw the future in general, concerning to technology. He
first answered that the future would have smart cities because he read something about that.
Then when I asked about the tourism industry, he immediately connected those two questions
ads said that he thought that smart cities would be new options for tourists to go to and that
there for the tourism industry would change a lot. Because of this it was pleasant to interview
him.
At a moment during the interview I asked him what he would pay for our concept and he
answered what amount that would be. At this moment I should have made more use of
propping techniques. I did not ask him why he would pay this certain amount and why it would
not be more or less. This was a shame because we could have used that information for the
concept development.

Page 68
 V-AIR Headset

At the end of the interview I asked him a closed question. This did not give me a lot of
information, but I did give me the specific information that I needed to know. Lastly, I noticed
that I found it hard to give summarize the things he said. I sometimes forgot to do so. At the
end of the interview I made a summary of the whole interview to be sure that I did not
misunderstood his words.
I had the feeling that he was comfortable talking to me and that he understood all the
questions.
For the next time I will have to focus more on my probing technique and ask more follow-up
questions, because this will give me more information. Besides I have to make sure that I
summarize more often during the interview.

Page 69
V-AIR Headset

JYTTE
During the process of making this report I have had some struggles, this because in the
beginning of our group work the entire group had no idea of what had to be done. We had a lot
of difficulties searching for a good idea which would contribute to the tourism industry as well
as the technology which had to be included in the concept. After a while the group came up with
the idea of the of including VR glasses into flights and therefor reduce boredom and contribute
of a better usage of time during flights, especially for business travelers. Still during the process
of elaborating the idea we went through some severe struggles, there were some difficulties on
how we would make the lay out of the report and especially the financial part has been a
struggle for Maike.
I had the MVP and the research set up in the first place. I found it quite difficult to set up how
our research would look and how I had to evaluate the validity and the reliability of this research
report. My group partners all gave me good feedback on how to change the parts which I had
some struggles with. In my opinion all of the group members were quite critical but still, I think
that criticism is very important during the writing of such a report. I had some struggles with
the time management, last minute a lot of parts needed to be changed or adjusted and since I
had to work a lot during the break I did have some difficulties to change it all in time. In the
end, I think that all of us did a good job and we all had our difficulties and problems which
made it hard to work together at some points but I think we managed well. I learned that, even
though, we had a very motivated group, group work can still be hard and that it is very
important to keep communicating. I would try to have a better time management too.
While having this module we had to visit the Next Gen event in Amsterdam and take out some
interviews of the guest speakers. The speakers did not have a lot of time to talk to us so we had
to cut out some questions of our interview. The reason for this is that the event we went to was
not the actual event. So, the guest speakers went to our event and then took of to the real
event. Even though they did not have much time they were all wiling to answer our questions.
As mentioned before, some of the speakers did not know how to answer some of our questions
but when they did, we got some good, interesting and reliable answers. In my opinion, I was a
bit disappointed in the event and in some of the knowledge these guest speakers had. I learned
from my fellow students that there were some stands too where there were some persons who
really knew the ins and outs of the technology world. Next time I would consider going there
first and I would also consider making questions a bit broader since the guest speakers did not
know how to answer most of them.

Page 70