ProgramsSpring 2024 Industry Capstone ProgramProjectsGo-To-Market Strategy to grow Facility Management product line

Project Title: Go-To-Market Strategy to grow Facility Management product line

Labelmaster

Details
Project Title Go-To-Market Strategy to grow Facility Management product line
Project Topics Growth Strategy Marketing Product Design & Development Sales & Business Development
Skills & Expertise Management Consulting Market Research Product Reviews
Project Synopsis: Challenge/Opportunity
This project is with Labelmaster and for more than five decades, they have been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern dangerous goods and hazardous materials.

From hazmat labels and UN certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services help customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations.

Labelmaster's dedication to supporting its customers'​ operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. 

To learn more about this company, please visit the following links:
https://www.labelmaster.com/

https://www.youtube.com/watch?v=NqSOMt6e2Pc

https://www.youtube.com/watch?v=5EFsjw-JDWo

Project Overview:

Grow a neglected product line called Facility Management that includes a variety of non-core product categories ranging from Shipping Supplies, Signs, Spill, Accident Prevention Tags, Material Handling, GHS Training Products, Personal Protection Equipment, Lock Out Tag Out. 

Historically, best selling items include 
*T* ColdMark Freeze Indicators, Vermiculite Bags, 3Printed Tamper-Evident Seal tapes, Tip-N-Tells,
Fire Extinguishers (mostly sold through amazon which was a strategic decision to discontinue), Easy Cut™ Utility Knives and Replacement Blades, Danger Do Not Operate (or any personalized message) signs.

The challenge with this product line has been that it had many heterogeneous diverse non-core items that may be needed when shipping dangerous goods. Also there hasn't been a dedicated resource to this product line for a while and the product manager assigned to the product line left the company.
Project Synopsis: Activities/Actions Required
Research sales history, customers who have stopped buying and potential customers who could buy products or product categories within the product line. Do market research what competitors are offering in that product line and develop a go-to-market (GTM) strategy target market profiles, a marketing plan, and a sales and distribution strategy.
Project Synopsis: Expected Results
Provide an actionable go-to-market (GTM) strategy with tactics to grow the product line considering market dynamics. Get back to historic sales levels, achieve at least a 30% growth rate in sales.

Project Timeline

Labelmaster - Go-To-Market Strategy to grow Facility Management product line
Due Date
Activities
Deliverables
Status
Action
Tue, 01/02/24
12:00 AM EST (UTC-05:00)
Initial Onboarding Information
No Deliverables
No deliverables are required for this action item.
Description:
The application for the Industry Capstone Program closed on December 29th. Starting on January 2nd, the Graduate Management Team will begin reviewing student resumes and applications. Over the next week or so, students will receive individualized emails with their project match, registration information, and next steps.

Once a student accepts their project match, they will be manually registered for the correct section of MGT 809. Please note that this is a three-credit course. Afterwards, students will be e-introduced to their faculty advisor, MBA (team) Lead, and student team members. 

If you have any questions regarding our application matching process, please email businessprojects@stevens.edu for support. 

All matched students will receive an email before January 12, 2024.
Wed, 01/17/24
12:00 AM EST (UTC-05:00)
First Day of Classes & Academic Calendar
No Deliverables
No deliverables are required for this action item.
Location: Virtual
Event Description:
The first day of classes is January 17, 2024. All matched students will have received their project match and onboarding information (via email) prior to this date. Most teams will have their initial, virtual, meeting within the coming week or so.

Students should be checking their Stevens email for important messages from their faculty advisor, MBA Lead, and Kate Marsden (Manager, Industry Capstone Program). Students should also view/save a copy of the academic calendar so that they are aware of important dates for the semester ahead:

https://www.stevens.edu/office-of-the-registrar/academic-calendar
Wed, 01/17/24
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). We also encourage students to utilize a professional background for the midterm & final presentations.

MBA Leads: Please download the PowerPoint Presentation Template for your midterm and final presentations. Kate Marsden will also contact each MBA Lead, prior to these presentations, with instructions & specifics.
Wed, 01/17/24
12:00 AM EST (UTC-05:00)
Industry Capstone Program Webpage & Resources
No Deliverables
No deliverables are required for this action item.
Description:
For information regarding the Industry Capstone Program, please visit the following link:

https://www.stevens.edu/industry-capstone

If you need any support, throughout the semester, please contact Kate Marsden. Kate is the Manager for the Industry Capstone Program and can be reached via email at businessprojects@stevens.edu with any questions, comments, or concerns that you may have. She is also available for 1-1 appointments, upon request, either via Zoom or on-campus. 
Sat, 02/10/24
11:59 PM EST (UTC-05:00)
Student Pre-Kick-off Self-Assessment Form
Required Evaluation
Evaluation submission is required.
View
Description:
Student Pre-Kick Off Self Evaluation | January 2024

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.

Ideally, students should complete this form as early as possible in the Spring 2024 Semester. We understand that the first 1-2 weeks of the semester are typically spent onboarding, getting to know your team members, etc. This form will be available until 01/31/24 at 11:59 PM EST.

If you have any questions, please do not hesitate to contact our team at businessprojects@stevens.edu for support. 
Fri, 02/23/24
11:59 PM EST (UTC-05:00)
Student Temperature Check
Required Evaluation
Evaluation submission is required.
View
Description:
#1 Student Temperature Check | January - February 2024

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. 
Mon, 03/18/24
12:00 AM EST (UTC-05:00)
Midterm Presentation Information
No Deliverables
No deliverables are required for this action item.
Description:
The chronological mid-way point of the semester is March 6th. Ideally, midterm presentations should be held during the weeks of March 18th or March 25th. No presentations will be held during the week of spring break. 

Kate Marsden will outreach to each MBA Lead to determine the best day & time for a virtual, midterm presentation. Once a day/time is solidified, she will send the faculty advisor & student team members a calendar invite with a Zoom link. She will also send the MBA Lead for each team important instructions and best practices for a successful presentation. Each presentation is scheduled for 45 minutes: students will have about 20-25 minutes to present, followed by Q&A from our Stevens Graduate Management Team.

Please note that corporate partners are not included in the midterm presentations, just the final presentations in May.
Mon, 04/01/24
12:00 AM EST (UTC-05:00)
Midterm Presentation Submission
Required Action Item
Required Deliverable
Deliverable submission is required.
View Calendar
Description:
The MBA Lead for each team is responsible for uploading a copy of their midterm presentation here. If you have any questions or issues, please email Kate Marsden at businessprojects@stevens.edu for support.
Deliverable Instructions:
The MBA Lead for each team is responsible for uploading a copy of their midterm presentation here. If you have any questions or issues, please email Kate Marsden at businessprojects@stevens.edu for support.
Mon, 04/01/24
12:00 AM EST (UTC-05:00)
Final Presentation Information
No Deliverables
No deliverables are required for this action item.
Description:
Kate Marsden will outreach to each MBA Lead, in early April, to schedule final presentations. 

Once a day/time is solidified, she will send the faculty advisor, corporate partner, and student team members a calendar invite with a Zoom link. She will also send the MBA Lead for each team important instructions and best practices for a successful presentation. Each presentation is scheduled for 45 minutes: students will have about 20-25 minutes to present, followed by Q&A from our Stevens Graduate Management Team and corporate partner.
Fri, 04/05/24
11:59 PM EST (UTC-05:00)
Student Temperature Check
Required Evaluation
Evaluation submission is required.
View
Description:
#2 Student Temperature Check | Post-Midterm Presentation

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. 
Tue, 05/14/24
12:00 AM EST (UTC-05:00)
Final Presentation Submission
Required Action Item
Required Deliverable
Deliverable submission is required.
View Calendar
Description:
The MBA Lead for each team is responsible for uploading a copy of their final presentation here. If you have any questions or issues, please email Kate Marsden at businessprojects@stevens.edu for support.
Deliverable Instructions:
The MBA Lead for each team is responsible for uploading a copy of their final presentation here. If you have any questions or issues, please email Kate Marsden at businessprojects@stevens.edu for support
Tue, 05/14/24
11:59 PM EST (UTC-05:00)
Student Post-Engagement Self-Assessment Form
Required Evaluation
Evaluation submission is required.
View
Description:
Student Self Reflection Survey | End of Spring 2024 Semester

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, 05/17/24
11:59 PM EST (UTC-05:00)
Industry Mentor Post-Engagement Team Assessment Form
Required Evaluation
Evaluation submission is required.
View
Description:
Thank you for participating in our Industry Capstone Program, this Spring 2024 Semester. If interested, please complete the following survey to describe your experience. If you have any questions or additional feedback, please contact Kate Marsden at businessprojects@stevens.edu for support. Wishing you a great summer ahead!