Fun Plushy B2C Product Launch to New Market Research


Project scope
Categories
Market research Market expansion Product or service launch Marketing strategySkills
information gathering copywriting product lining selling techniques new product development sales market research market segmentation business-to-consumer mental healthWork on a market research for Plushie for Mental Health. Come up with standard market metrics and creative ways to reach a new audience.
As a B2C company, our primary goal is creating products that are closely aligned to our market segment’s wants and needs, so that we can maximize our sales. We have recently created a new product to increase the breadth of our product line. It will be important to gather information on buying behaviour, experiences, expectations, and perception of both our brand and our largest competitors.
Tasks may involve:
- Creating an unbiased survey with questions regarding consumer experience with our brand, perception of our products/services, and opinions on our competitors.
- Creating effective conversation questions for customer interviews.
- Determining the best way to reach customers and how to motivate them to provide feedback on the company (we will distribute the survey accordingly).
- Analyzing trends within primary data collected through the survey and interviews, and reporting on them.
By the end of the project, students should complete the following list of activities (this is basically a retelling of the steps above):
- Created a survey about customer experience, perception, and opinions about our brand and our largest competitors.
- Created conversation/interview questions for consumers and analyzed the responses collected by (whoever is running the project).
- Create ideas on copy writing and unique selling points
- Created a report on primary and secondary findings of industry trends.
- Presented all findings to in an fun out of the box report.
Students will connect directly with us for mentorship throughout the project. We will be able to provide answers to questions such as:
- The customer segments our brand primarily caters to.
- Information about our products/services.
- Input on choices, problems or anything else the students might encounter.
Supported causes
The global challenges this project addresses, aligning with the United Nations Sustainable Development Goals (SDGs). Learn more about all 17 SDGs here.
About the company
Stonebridge Imports was established in 2002 to share the love and knowledge of gemstones, rocks, and minerals with Canadians and beyond. We maintain a large inventory of precious gemstones, rocks, and minerals that are perfect for jewelry making, home décor, and healing. Stonebridge sells via B2B to stores, schools, and makers in the industry.
We also have a retail store; The Rock Space, located on Victoria Street in Kitchener, ON. There, we focus on B2C, and fostering the growing crystal community. By leveraging youth and social media, we've seen massive success through the renaissance of crystals, witchcraft, and herbalism.