Market Expansion Research

As a company, we currently exist in one market, but we believe we are ready to take our business to the next level and expand our scope of locations. With your help, we hope to assess our customer landscape beyond the demographics we currently cater to by learning about their expectations and behaviors. This will involve several different steps for the students, including: Researching the target market in potential new locations including demographic data such as spending power, proximity, accessibility, and location appeal, and creating a weighted decision matrix to assign importance to each factor. Creating a survey based on the location and demographic information above to be distributed by our company. Analyzing survey data using the weighted decision matrix to decide on the best location options for us to expand to. Compiling a report including the location analysis, and optimal location recommendations.

Lean Startup Business Strategy Development

Our team has noticed that our product development and operational processes are not as efficient as they have the potential to be. We want to simplify these processes to make them more “lean” in order to make them less costly and more adaptable to customer feedback at a fast pace. In this project, students will focus on evaluating our operations and identifying internal issues that are causing processes to be too timely or costly. Mapping out operational processes using Business Process Model Notation and notation (BPMN), and evaluating each step and the resources it consumes. Identifying bottlenecks in our operational processes. Researching solutions to each unique problem identified in the mapping process. Creating a proposal with recommendations for improvements and an implementation plan for how we would incorporate the solutions. Creating a second BPMN model of operational processes with the proposed solution(s).