| Project Synopsis: Challenge/Opportunity |
Through an analysis of competitors, similar fast-casual restaurant concepts, and Colada Shop's current performance, they're looking for help ideating to increase traction at their Sterling, VA sub-urban location. Your marketing strategy and plan should take into account the demographics in the region and the current customer architypes. Colada Shop expects that you'll be able to gather data efficiently and convert that data into valuable insights for their executive team. They're particularly interested in learning more about their current audience and reach and barriers for individuals and businesses in the area when it comes to visiting their location. They're open to a variety of different types of promotions and changes to their menu if it will result in increased traction.
Students who enroll in this course will:
- Understand the challenges of scaling up fast-casual restaurant concepts in new markets.
- Develop a plan for increasing traction within the local ecosystem around suburban location.
- Be able to convert qualitative customer interviews and customer surveys into KPIs and meaningful data to be used by business leaders.
- Grasp the nuances and implications of suggesting different types of promotions and marketing campaigns designed to help restaurants gain traction.
Prerequisites:
This project is most suitable for MBA students that are interested in working on high-growth business challenges in the foodservice space. Experience in marketing strategy and restaurant/food service management is a plus.
PLEASE NOTE: Participants will be required to sign a non-disclosure project agreement regarding the handling of confidential information and intellectual property.
Logistics: This Interterm Immersion will be based in Sterling, Virginia. Students will need to secure transportation and lodging on their own. Additional details on travel can be found under Travel Reimbursement Details at the front of this document.
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