ProgramsMBA Capstone (Fall 2024)ProjectsMarket Entry and Expansion Strategy for RiseKit: A Data-Driven Appr...

Project Title: Market Entry and Expansion Strategy for RiseKit: A Data-Driven Approach to Targeting and Growth

RiseKit

Details
Project Title Market Entry and Expansion Strategy for RiseKit: A Data-Driven Approach to Targeting and Growth
Project Topics Growth Strategy
Skills & Expertise Business Analysis & Strategy Communications Management Consulting Market Research Marketing Strategy Qualitative Research Quantitative Research Recruiting & Talent Sourcing Sales & Business Development
Project Synopsis: Challenge/Opportunity

RiseKit aims to expand its impact in empowering job seekers and employers by strategically entering new markets. The challenge is to identify and prioritize high-potential cities for expansion, tailoring go-to-market strategies for each. The opportunity lies in leveraging data-driven insights to maximize reach and impact in these new markets, ensuring sustainable growth and success.
Project Synopsis: Activities/Actions Required
1. Define Target Market Criteria:
  • Refine ideal buyer and user personas (job seekers, employers, community organizations, training providers).
  • Establish key quantitative and qualitative metrics for market evaluation (e.g., job market size, demographics, economic mobility funding, workforce development initiatives, competitive landscape).
2. Conduct In-Depth Market Research:
  • Identify and analyze potential target cities based on established criteria, using Denver, Chicago, and Memphis as baseline models.
  • Gather data on available entry-level job openings, number and types of community organizations and training providers, economic mobility funding, workforce development programs, etc.
  • Analyze competitor presence and market saturation in each city.
3. Develop a Scoring System for Prioritization:
  • Assign weights to each evaluation criterion based on strategic importance.
  • Create a data-driven scoring model to rank potential target cities.
4. Select Top Target Cities:
  • Analyze the results of the scoring system and select the top cities for further evaluation.
  • Conduct in-depth interviews with stakeholders in selected cities (employers, job seekers, community organizations) to validate findings and gather qualitative insights.
5. Tailored Go-to-Market Strategy for Each City:
  • Develop customized go-to-market plans for each selected city, considering unique market dynamics and competitive landscape.
  • Refine messaging, value proposition, and pricing models for each stakeholder group.
  • Outline marketing and sales tactics, partnership strategies, and community engagement initiatives for each city.
6. Present Recommendations and Secure Buy-In:
  • Present findings, recommendations, and go-to-market strategies to senior leadership.
Project Synopsis: Expected Results
  • Accurate identification and ranking of target cities based on robust data and insights.
  • Development of compelling, customized go-to-market strategies for each selected city.
  • Successful launch and execution of market entry plans, achieving established KPIs.
  • Growth in user base, job placements, and employer partnerships in new markets.
  • Increased brand awareness, user adoption, and impact in new markets.

Project Timeline

RiseKit - Market Entry and Expansion Strategy for RiseKit: A Data-Driven Approach to Targeting and Growth
Due Date
Activities
Deliverables
Status
Action
Wed, 05/15/24
12:00 AM UTC
Program Kickoff
No Deliverables
No deliverables are required for this action item.
Location:

Program Managers

Name Organization
Marleen McCormick Pritchard Butler University

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