Harvard Case - Propel
"Propel" Harvard business case study is written by Mitchell B. Weiss, Sarah McAra. It deals with the challenges in the field of Entrepreneurship. The case study is 19 page(s) long and it was first published on : Jul 21, 2017
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At Fern Fort University, we recommend that Propel, a rapidly growing startup in the online fitness industry, adopt a strategic approach to growth that balances rapid expansion with sustainable development. This strategy should prioritize:
- Building a strong brand identity: Establishing a clear and compelling brand that resonates with its target audience.
- Developing a robust technology platform: Investing in technology and analytics to enhance user experience and gather valuable data for future product development and marketing.
- Expanding into new markets: Carefully exploring international expansion opportunities, leveraging a data-driven approach to identify promising markets.
- Cultivating a strong organizational culture: Fostering a culture of innovation, collaboration, and customer focus to attract and retain top talent.
- Securing strategic partnerships: Collaborating with complementary businesses and organizations to expand reach, access new markets, and enhance product offerings.
2. Background
Propel is a young, dynamic startup that has disrupted the traditional fitness industry by offering an innovative online platform for personalized fitness training. Founded by a team of passionate entrepreneurs, Propel has achieved significant success in a short period, attracting a large user base and generating substantial revenue. However, the company faces several challenges as it navigates rapid growth, including:
- Maintaining product innovation: Continuously developing new features and functionalities to stay ahead of competitors and meet evolving user needs.
- Scaling operations: Managing the complexities of rapid growth, including hiring, training, and retaining talent, while maintaining operational efficiency.
- Securing funding: Attracting investors to support its ambitious growth plans and fund future product development.
- Expanding into new markets: Identifying and entering new markets effectively while adapting to local preferences and regulations.
3. Analysis of the Case Study
Propel?s success can be attributed to its strong entrepreneurial spirit, innovative product, and effective marketing strategies. However, to sustain its growth trajectory, the company needs to adopt a more comprehensive and strategic approach.
Strategic Framework:
We will use a combination of frameworks to analyze Propel?s current situation and develop recommendations:
- Porter?s Five Forces: To understand the competitive landscape and identify opportunities and threats.
- SWOT Analysis: To assess Propel?s internal strengths and weaknesses and external opportunities and threats.
- Value Chain Analysis: To identify key activities and processes that create value for customers.
- Growth Strategies: To develop a plan for sustainable growth and expansion.
Analysis:
- Porter?s Five Forces: The online fitness industry is highly competitive, with numerous established players and new entrants. However, Propel has a strong competitive advantage due to its innovative platform, personalized approach, and growing user base.
- SWOT Analysis:
- Strengths: Strong brand, innovative product, loyal user base, experienced team, agile development process, data-driven approach.
- Weaknesses: Limited brand awareness outside core market, potential for scalability issues, dependence on technology, limited international presence.
- Opportunities: Expanding into new markets, developing new features and products, partnering with complementary businesses, leveraging data analytics for personalized marketing.
- Threats: Increasing competition, technological disruption, changes in consumer preferences, regulatory challenges.
- Value Chain Analysis: Propel?s value chain consists of:
- Inbound Logistics: Sourcing technology and talent.
- Operations: Platform development, content creation, user support.
- Outbound Logistics: Delivering services to customers.
- Marketing and Sales: Acquiring new users through various channels.
- Customer Service: Providing support and resolving user issues.
- Growth Strategies: Propel can pursue a combination of growth strategies:
- Market Penetration: Increasing market share within existing markets by attracting new users and retaining existing ones.
- Product Development: Introducing new features and functionalities to enhance user experience and attract new segments.
- Market Development: Expanding into new geographic markets, targeting different customer segments.
- Diversification: Exploring new product lines or services related to fitness and wellness.
4. Recommendations
4.1 Brand Building:
- Develop a clear and compelling brand identity: Define Propel?s core values, mission, and vision, and communicate them consistently across all marketing materials and channels.
- Invest in branding and marketing: Create engaging content, utilize social media effectively, and build relationships with influencers to increase brand awareness and reach a wider audience.
- Focus on user experience: Design a user-friendly platform that is intuitive, engaging, and personalized to meet individual needs.
4.2 Technology and Analytics:
- Invest in platform development: Continuously improve the platform?s functionality, security, and scalability to accommodate growth and evolving user needs.
- Leverage data analytics: Collect and analyze user data to identify trends, personalize experiences, and optimize marketing campaigns.
- Develop a data-driven product roadmap: Use data insights to inform product development decisions and prioritize features that deliver the most value to users.
4.3 International Expansion:
- Conduct thorough market research: Identify promising markets based on factors such as market size, growth potential, cultural fit, and regulatory environment.
- Develop a localized strategy: Adapt the platform and marketing materials to meet local preferences and language requirements.
- Establish strategic partnerships: Collaborate with local fitness businesses, influencers, and organizations to build brand awareness and gain market access.
4.4 Organizational Culture:
- Cultivate a culture of innovation: Encourage creativity, experimentation, and continuous improvement.
- Promote collaboration and teamwork: Foster a collaborative environment where employees can share ideas and support each other.
- Prioritize customer focus: Ensure that all decisions and actions are driven by the needs and desires of customers.
4.5 Strategic Partnerships:
- Identify complementary businesses: Explore partnerships with companies in related industries, such as nutrition, wellness, and wearable technology.
- Develop mutually beneficial agreements: Structure partnerships that create value for both parties and enhance the overall customer experience.
- Leverage partner networks: Access new markets and customer segments through partner relationships.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Propel?s current situation, its competitive landscape, and its future growth potential. They are aligned with the company?s core competencies and mission, consider the needs of both external customers and internal clients, and address the competitive threats and opportunities facing the company.
6. Conclusion
Propel has the potential to become a leading player in the global online fitness industry. By adopting a strategic approach that focuses on building a strong brand, developing a robust technology platform, expanding into new markets, cultivating a strong organizational culture, and securing strategic partnerships, Propel can achieve sustainable growth and achieve its ambitious goals.
7. Discussion
Alternatives:
- Aggressive Acquisition Strategy: Acquiring competitors or complementary businesses to accelerate market share growth.
- Focus on Niche Market: Specializing in a specific fitness niche, such as yoga or weightlifting, to gain a competitive advantage.
- Delaying International Expansion: Focusing on consolidating its position in existing markets before venturing into new geographies.
Risks and Assumptions:
- Competition: Increased competition from established players and new entrants could erode Propel?s market share.
- Technology Disruption: Rapid technological advancements could make Propel?s platform obsolete or require significant investment in upgrades.
- Regulatory Changes: Changes in regulations related to online fitness and data privacy could impact Propel?s operations.
8. Next Steps
- Develop a detailed strategic plan: Outline the specific actions, timelines, and resources required to implement the recommendations.
- Allocate resources: Prioritize investments in brand building, technology, international expansion, and organizational development.
- Monitor progress and adapt: Regularly track key performance indicators and make adjustments to the strategy as needed.
By implementing these recommendations, Propel can navigate the challenges of rapid growth and position itself for long-term success in the dynamic online fitness industry.
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Case Description
In 2014, Jimmy Chen, a former product manager at Facebook, founded the start-up Propel to build software for low-income Americans. After conducting in-depth behavioral research, Chen and his small team in New York City began to develop technology to address the burdensome process of accessing benefits from the Supplemental Nutrition Assistance Program (SNAP), commonly known as food stamps. They first designed a mobile site called Easy Food Stamps that streamlined SNAP enrollment, then developed the Fresh EBT app that allowed users to quickly and easily check their SNAP balances on mobile devices. By November 2016, Fresh EBT had 133,000 weekly active users but Propel had limited funding runway, and, ahead of a meeting with investors, Chen has to select a business model. He evaluates data from two ongoing business model pilots- financial services referrals and grocery marketing-along with other user behavior research to determine how Propel could generate meaningful revenue while continuing to provide value to users.
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