Project Title: LaCoBros: Research & Development

LaCoBros

Details
Project Title LaCoBros: Research & Development
Project Topics Growth Strategy Marketing Product Design & Development Research & Development Sales & Business Development
Skills & Expertise
Project Synopsis: Challenge/Opportunity
LaCoBros is a small family business of brothers. We have currently developed 3 products within the Wraptor brand; a lifting tool, a unique construction glove, and a specialty drywall tools bag. 

Currently, we are selling our products on Amazon, our own website, and through a distributor. The company's 3 year plan is to grow to 5 million in gross revenue with a 35% profit margin across the portfolio of products. We aim to build a portfolio of 15 products with an average selling price of $40 per unit. 

The primary consumers are carpenters, construction workers, and contractors. To view all of the products and webpage, please visit: www.wraptorclaw.com
Project Synopsis: Activities/Actions Required
Project Objective:

1. Find a category of products that the company can
manufacture and sell to our core customers to reach our
revenue goals.

2.Do market research to verify that there is demand for these
products.

3. The products need to fit into the marketplace in a way that
allows our products to be differentiated from competitors
products in a way that customers will want to buy from us.

4. The two product categories are safety products and products
for younger carpenters, contractors, and tradesman.


A. Safety is a major concern in the industry
and contractors are willing to pay for products that increase
jobsite safety, reduce injury, and allow workers to leave at the
end of the day the same way they showed up to work.

B. The construction industry has an aging workforce
and the new and younger workers don’t have products to buy
and pick from that are much different than what has been on
the market for decades. For this option we need to create a line
of products for the younger, more tech savvy, and less
knowledgeable worker. 
Project Synopsis: Expected Results
We are looking for students to work on this project who are eager to learn more about the construction industry, and can conduct market research and find a category of products that the company can sell, in order to reach revenue goals. 

Project Timeline

LaCoBros - LaCoBros: Research & Development
Due Date
Activities
Deliverables
Status
Action
Fri, 08/11/23
12:00 AM EST (UTC-05:00)
Industry Capstone Program Application Details
The application for the Fall 2023 Semester will open on Thursday, July 27th and close on Friday, August 11th. All matched students will receive their project team and be registered for the correct course section of MGT 809 via Workday before September 1st. For any additional questions, please email christina.alwell@stevens.edu for support.
No Deliverables
No deliverables are required for this action item.
Guiding Questions:
The application for the Fall 2023 Semester will open on Thursday, July 27th and close on Friday, August 11th. All matched students will receive their project team and be registered for the correct course section of MGT 809 via Workday before September 1st. For any additional questions, please email christina.alwell@stevens.edu for support.
Fri, 09/01/23
12:00 AM EST (UTC-05:00)
Industry Capstone Program Webpage
No Deliverables
No deliverables are required for this action item.
Description:
https://www.stevens.edu/industry-capstone
Fri, 09/01/23
12:00 AM EST (UTC-05:00)
First Day of Classes & Academic Calendar
The first day of classes for the Fall 2023 Semester is Friday, September 1st. Please note that no classes will be held/offices are closed on Monday, September 4th. All students will begin working with their project teams starting Tuesday, September 5th. Please see attached (PDF) for the academic calendar for 2023-24.
No Deliverables
No deliverables are required for this action item.
Guiding Questions:
The first day of classes for the Fall 2023 Semester is Friday, September 1st. Please note that no classes will be held/offices are closed on Monday, September 4th. All students will begin working with their project teams starting Tuesday, September 5th. Please see attached (PDF) for the academic calendar for 2023-24.
Fri, 09/01/23
12:00 AM EST (UTC-05:00)
Stevens Brand Guidelines
No Deliverables
No deliverables are required for this action item.
Description:
The Stevens Brand Guidelines webpage is a helpful resource to utilize throughout the semester!

https://www.stevens.edu/brandguide

Feel free to download a virtual background (from this webpage) to utilize for Zoom meetings with your faculty advisor, student team, and corporate partner(s).

Please download the PowerPoint Presentation Templates for your midterm and final presentations. Christina Alwell will also contact each MBA Lead, prior to these presentations, with instructions & specifics.
Tue, 10/03/23
11:59 PM EST (UTC-05:00)
September 2023: Initial Student Evaluation #1: FOR ALL STUDENTS
Required Evaluation
Evaluation submission is required.
Description:
Throughout the semester, students are asked to complete surveys to evaluate their experience in the Industry Capstone Program. This initial survey is an opportunity for you to evaluate the project team & your experience, thus far, and provide our Graduate Management Team with valuable feedback.

CLICK HERE to complete this survey. 

Christina Alwell will email all students on September 26th with the survey. Questions or concerns? Email businessprojects@stevens.edu
Fri, 11/10/23
11:59 PM EST (UTC-05:00)
Midterm Presentation Submission
Required Deliverable
Please have one person per team (MBA Lead) upload a copy of your midterm presentation here.
Required Deliverable
Deliverable submission is required.
Guiding Questions:
Please have one person per team (MBA Lead) upload a copy of your midterm presentation here.
Fri, 11/10/23
11:59 PM EST (UTC-05:00)
Student Temperature Check
Required Evaluation
Evaluation submission is required.
Description:
Post-Midterm Temperature Check Survey

All Industry Capstone Program students are encouraged to complete surveys, via CapSource, throughout the semester. These surveys help provide our Graduate Management Team with important feedback about the course and overall experience.

If you have any questions, please do not hesitate to contact our team at businessprojects@stevens.edu for support. 
Fri, 12/22/23
11:59 PM EST (UTC-05:00)
Final Presentation Submission
Required Deliverable
Required Deliverable
Deliverable submission is required.
Deliverable Instructions:
Please have one person per team (MBA Lead) upload a copy of your final presentation here.
Fri, 12/22/23
11:59 PM EST (UTC-05:00)
Industry Mentor Post-Engagement Team Assessment Form
Required Evaluation
Evaluation submission is required.
Description:
Thank you for participating in our Industry Capstone Program, this Fall 2023 Semester. If interested, please complete the following survey to describe your experience. If you have any questions or additional feedback, please contact our team at businessprojects@stevens.edu for support. Wishing you a great holiday season!
Fri, 12/22/23
11:59 PM EST (UTC-05:00)
Student Post-Engagement Self-Assessment Form
Required Evaluation
Evaluation submission is required.
Description:
All Industry Capstone Program students are encouraged to complete surveys, via CapSource, throughout the semester. These surveys help provide our Graduate Management Team with important feedback about the course and overall experience.

If you have any questions, please do not hesitate to contact our team at businessprojects@stevens.edu for support.