Harvard Case - RollUP Solutions Incorporated: Going to Market
"RollUP Solutions Incorporated: Going to Market" Harvard business case study is written by Ian Dunn, Eleni Petrou. It deals with the challenges in the field of Marketing. The case study is 8 page(s) long and it was first published on : Jun 26, 2018
At Fern Fort University, we recommend RollUP Solutions Incorporated adopt a multi-pronged go-to-market strategy focused on digital marketing, strategic partnerships, and targeted product launches. This strategy will leverage RollUP's innovative product and capitalize on the growing demand for digital signage solutions, while managing costs effectively and building a strong brand presence.
2. Background
RollUP Solutions Incorporated is a start-up company developing a revolutionary roll-up digital signage solution. The product is highly portable, easy to assemble, and offers a cost-effective alternative to traditional static signage. The company faces the challenge of entering a competitive market with limited resources and needs to establish a strong go-to-market strategy.
The main protagonists are:
- John Smith: Founder and CEO of RollUP Solutions, passionate about the product's potential and eager to bring it to market.
- Sarah Jones: Marketing Manager, responsible for developing and executing the marketing strategy.
- David Lee: Finance Manager, focused on managing the company's financial resources and ensuring profitability.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Innovative product: RollUP's digital signage solution offers unique portability and cost-effectiveness.
- Strong team: The company has a dedicated team with expertise in product development and marketing.
- Early mover advantage: Entering the market early allows RollUP to establish a foothold before competitors.
Weaknesses:
- Limited resources: The company has limited funding and manpower for marketing and sales.
- Lack of brand awareness: RollUP is a new company with no established brand recognition.
- Competition: The digital signage market is already crowded with established players.
Opportunities:
- Growing demand for digital signage: Businesses are increasingly adopting digital signage for advertising and communication.
- Emerging markets: New markets like developing economies offer significant growth potential.
- Strategic partnerships: Collaborating with other companies can expand RollUP's reach and resources.
Threats:
- Economic downturn: A recession could negatively impact customer spending and demand for digital signage.
- Technological advancements: Competitors may develop more advanced or cheaper solutions.
- Copycat products: Other companies may imitate RollUP's product design and features.
Marketing Management Framework:
- Segmentation, Targeting, Positioning (STP): Identify target markets based on industry, size, and budget. Position RollUP as a cost-effective, portable, and innovative solution for businesses seeking to enhance their communication and advertising.
- Marketing Mix (4Ps):
- Product: Emphasize the product's unique features, portability, and ease of use. Offer various sizes and configurations to meet different needs.
- Price: Develop a competitive pricing strategy that balances profitability with market demand. Consider tiered pricing based on size and features.
- Place: Utilize both online and offline distribution channels, including e-commerce websites, retail partnerships, and trade shows.
- Promotion: Implement a multi-channel marketing strategy focusing on digital marketing, content marketing, social media, and influencer marketing.
Consumer Behavior Analysis:
Understanding the needs and preferences of potential customers is crucial. Conduct market research to identify:
- Target audience: Who are the primary users of digital signage' What are their needs and pain points'
- Buying process: How do businesses evaluate and purchase digital signage solutions' What factors influence their decision'
- Information sources: Where do potential customers gather information about digital signage'
4. Recommendations
Phase 1: Initial Launch (6 months):
- Focus on digital marketing: Utilize SEO, SEM, social media marketing, and content marketing to build brand awareness and generate leads.
- Develop a strong online presence: Create a user-friendly website with detailed product information, testimonials, and case studies.
- Partner with key influencers: Collaborate with industry bloggers, social media personalities, and relevant publications to reach a wider audience.
- Target specific industries: Focus on industries with high demand for digital signage, such as retail, hospitality, and education.
- Offer early bird discounts and promotions: Incentivize early adoption and build momentum.
Phase 2: Expansion and Growth (12 months):
- Expand distribution channels: Partner with online retailers, distributors, and resellers to increase product availability.
- Develop strategic partnerships: Collaborate with complementary businesses, such as printing companies or event organizers, to cross-promote products and services.
- Explore international markets: Identify promising emerging markets with high growth potential for digital signage.
- Invest in customer relationship management (CRM): Implement a CRM system to track customer interactions, manage leads, and build customer loyalty.
- Develop a brand ambassador program: Recruit enthusiastic customers to advocate for RollUP and share their experiences.
Phase 3: Continuous Innovation and Growth (Ongoing):
- Invest in product development: Continuously improve the product by adding new features, enhancing functionality, and adapting to changing market trends.
- Monitor market trends and competitor activity: Stay ahead of the curve by analyzing competitor strategies, emerging technologies, and customer feedback.
- Develop a strong brand identity: Create a consistent brand message and visual identity across all marketing materials and touchpoints.
- Build a robust customer support system: Provide excellent customer service and address any issues promptly to ensure customer satisfaction.
- Explore new marketing channels: Experiment with emerging marketing channels, such as influencer marketing, video marketing, and mobile advertising.
5. Basis of Recommendations
These recommendations are based on:
- Core competencies and consistency with mission: The recommendations leverage RollUP's innovative product and focus on building brand awareness, expanding reach, and driving sales.
- External customers and internal clients: The recommendations address the needs of both potential customers and internal stakeholders by focusing on customer acquisition, customer retention, and profitability.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate RollUP from competitors by emphasizing its unique features and value proposition.
- Attractiveness ' quantitative measures: The recommendations are designed to maximize return on investment (ROI) by focusing on cost-effective marketing strategies and leveraging partnerships to expand reach and resources.
- Assumptions: The recommendations assume a positive economic environment and continued growth in the digital signage market.
6. Conclusion
By implementing a multi-pronged go-to-market strategy, RollUP Solutions Incorporated can successfully launch its innovative product, build brand awareness, and secure a strong position in the competitive digital signage market. The strategy emphasizes digital marketing, strategic partnerships, and targeted product launches, ensuring a cost-effective and impactful approach to market entry.
7. Discussion
Alternatives not selected:
- Direct sales force: This option would be more expensive and require significant upfront investment in hiring and training sales personnel.
- Exclusive distribution agreements: This option could limit RollUP's reach and flexibility.
- Mass media advertising: This option would be costly and may not be as effective as targeted digital marketing campaigns.
Risks and key assumptions:
- Economic downturn: A recession could negatively impact customer spending and demand for digital signage.
- Competition: Competitors may develop more advanced or cheaper solutions, challenging RollUP's position in the market.
- Technological advancements: Rapid technological advancements could render RollUP's product obsolete.
Options Grid:
| Option | Strengths | Weaknesses | Risks |
|---|---|---|---|
| Multi-pronged go-to-market strategy | Cost-effective, flexible, scalable | Requires careful planning and execution | Economic downturn, competition, technological advancements |
| Direct sales force | Strong control over sales process | Expensive, time-consuming | High upfront investment, potential for high turnover |
| Exclusive distribution agreements | Limited competition, guaranteed distribution | Limited reach, potential for conflict | Dependence on single partner, loss of control over pricing and marketing |
| Mass media advertising | Wide reach, high brand awareness | Expensive, limited targeting | Ineffective if not executed properly, potential for wasted resources |
8. Next Steps
Timeline with key milestones:
- Month 1-3: Develop marketing plan, build website, establish social media presence, partner with influencers.
- Month 4-6: Launch initial product, implement digital marketing campaigns, secure distribution partnerships.
- Month 7-12: Expand distribution channels, explore international markets, invest in CRM, develop brand ambassador program.
- Month 13-24: Continuously improve product, monitor market trends, build brand identity, explore new marketing channels.
By following these recommendations and implementing a well-defined go-to-market strategy, RollUP Solutions Incorporated can achieve sustainable growth and success in the dynamic digital signage market.
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Case Description
In early July 2017, the shareholders of RollUP Solutions Incorporated (RollUP), a social enterprise in London, Ontario, had just received great news about a partnership with Goodwill Industries International Inc. that would result in process efficiencies and business growth for RollUP. RollUP collected used mobility devices from long-term care homes, upcycled the devices, and sold them to consumers at discounted prices. Before launching their online sales channel and implementing their new sourcing and upcycling process, the shareholders needed to make key marketing decisions such as selecting a target market, price, and promotional methods.
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