Capstone – Project

Launching B2C eCommerce strategy for Confectionary Company

A Collaboration Between

Project Synopsis

Iconic Candy business model has been primarily B to B sales and, up to this point, there has been little resources allocated to marketing, including digital marketing. Other than limited efforts in Instagram, there are currently no channels for engaging directly with customers. We receive hundreds of emails each year from customers looking for information on where to buy our products, information we are currently unable to provide. Meanwhile, we know consumer engagement is critical, especially when introducing new products into the marketplace.  That’s why this fall, we are launching a new e-Commerce website and Amazon marketplace page, which will enable B-to-C sales, provide channels for direct engagement with consumers, and add alternative target audiences and streams of commerce . We are looking for students help us to optimize these initiatives by proposing a B to C marketing strategy and set of recommendations for maximizing conversions on the new eCommerce Site. 

 

– Competitive Analysis
– Deep Dive in Product and Performance
– Review of Current Marketing Strategy
– Strategy & Recommendations to improve Digital Marketing
– Social Media
– Digital Marketing Calendar (How to spend our money across different verticals)
– Measuring Success (Marketing360 Platform)
– How can we increase engagement and following

– Launching eCommerce Website in the Fall
– How to leverage our marketing (B to C) in order to maximize our conversions on the new eCommerce Site

Project Topics

Account Management

Company Information

CompanyIconic Candy
HQCarle Place, NY
RevenueUnlisted
Employees10-25
StageMedium Business
Hiring PotentialFollow-on Projects, Formal Internship, Entry Level Full-Time, Upper Level Full-Time
Websitehttp://www.IconicCandy.com

Company Overview

Iconic Candy is a new candy company that works on gaining the intellectual property of retro candies that have been long gone from the candy market and brings them back in their original form.

Experiential Learning Program Details

SchoolWebster University
Engagement Format -
CourseMBA Consulting Practicum – Adding Value To Organizations (Fall 2021)
Level
  • All Graduate
Students Enrolled150
Meeting Day & TimeTBD
Student Time Commitment4-7 Hours Per Week
Company Time Commitment2 Hours
Duration8.57 Weeks

Program Timeline

Touchpoints & Assignments Due Date Type
REMINDER OF CONFIDENTIALITY

REMINDER OF CONFIDENTIALITY

During this program, you'll be working on a real project posed by a real industry partner. By registering for the CapSource system and participating in this Program, you are bound by the Rules of Engagement, including strict confidentiality of information shared with you. Please be respectful and professional.
October 17th, 2021 Event na
Student On-Boarding Complete

Student On-Boarding Complete

Students can gain access to all materials and begin working on milestone #1
October 18th, 2021 Event na
Kickoff Evaluation Due

Kickoff Evaluation Due

October 24th, 2021 Evaluation evaluation
Project Kickoff - Iconic Candy Leadership to Web Conference into Class

Project Kickoff - Iconic Candy Leadership to Web Conference into Class

Time: 7:00 PM ET Location: Virtual - Link coming soon!
October 27th, 2021 Event na
Upload Deliverables for Milestone #1 Upload Deliverables for Milestone #1
 
November 1st, 2021 Submission Required submission-required
Temp Check #1 Due

Temp Check #1 Due

November 2nd, 2021 Evaluation evaluation
Check-In Meeting #1

Check-In Meeting #1

Time: 7:00 PM ET Location: Virtual - link coming soon!
November 3rd, 2021 Event na
Upload Deliverables for Milestone #2 Upload Deliverables for Milestone #2
November 15th, 2021 Submission Required submission-required
Temp Check #2 Due

Temp Check #2 Due

November 16th, 2021 Evaluation evaluation
Check-In Meeting #2

Check-In Meeting #2

Time: 7:00 PM ET Location: Virtual - link coming soon!
November 17th, 2021 Event na
Upload Deliverables for Milestone #3 Upload Deliverables for Milestone #3
 
December 6th, 2021 Submission Required submission-required
Temp Check #3 Due

Temp Check #3 Due

December 7th, 2021 Evaluation evaluation
Check-In Meeting #3

Check-In Meeting #3

Time: 7:00 PM ET Location: Virtual - link coming soon!
December 8th, 2021 Event na
Student Final Presentations & Project Wrap-up

Student Final Presentations & Project Wrap-up

Time: 7:00 PM ET Location: Virtual - link coming soon!
December 15th, 2021 Event na
UPLOAD ALL FINAL DELIVERABLES UPLOAD ALL FINAL DELIVERABLES
December 15th, 2021 Submission Required submission-required
Final Peer Evaluation Due

Final Peer Evaluation Due

December 19th, 2021 Evaluation evaluation
Final Self Evaluation Due

Final Self Evaluation Due

December 19th, 2021 Evaluation evaluation

Key Project Milestones

  • November 1, 2021 - Competitive Analysis & Deep Dive in Product Portfolio and Performance

    • What companies exist that are like Iconic Candy?
    • What types of products do they sell?
    • Do they sell online or through distributors?
    • What makes Iconic Candy unique from these other players?
    • How does Iconic Candy’s portfolio compare with their competitors?
    • What products are the largest by volume for Iconic Candy?

    Suggested Deliverable:

    Prepare competitive analysis and portfolio analysis

  • November 15, 2021 - Deep Dive on the New eCommerce Website & Digital Marketing Strategy

    • Evaluate data exports from Marketing 360 system
    • Review social platforms and KPIs
    • Review new eCommerce website
    • How does the Iconic Candy website compare with competitors?
    • How does Iconic Candy’s B2C strategy compare their previous B2B business model strategy?
    • What similar companies in this industry have been able to leverage social media successfully in the past?
    • What makes up a comprehensive digital marketing strategy for a B2C company?
    • What is the typical Customer Acquisition Cost (CAC) for companies similar to Iconic Candy in using a B2C business model?  How does that compare to B2B CAC?

    Suggested Deliverable:

    Produce a digital marketing playbook for Iconic Candy comparing B2B and B2C strategies

  • December 6, 2021 - Promotional Mix & Marketing Budget

    • What are Iconic Candy’s new target customer profile(s)?
    • What are the best digital marketing channels for Iconic Candy?
    • Which marketing channels are worthy of investment?
    • What marketing / promotion mix would you recommend for Iconic Candy?
    • What would you budget for each category of marketing?
    • Allocate $75,000 of marketing budget over the next 18-months.

    Suggested Deliverable:

    Produce a marketing mix and marketing budget for Iconic Candy

  • December 15, 2021 - Produce Go-To-Market Strategy for Iconic Candy's New eCommerce B2C Model

    • Who is the ideal customer profile for Iconic Candy? Where do they hang out? How do you reach them?
    • What should the Iconic Candy timeline look like?
    • What about the digital marketing and promotion mix?
    • How would you allocate the $75,000 of marketing budget to various channels?
    • What type of marketing content will work best given your marketing channel choices? How can Iconic Candy produce this content? What should be the budget for content production?
    • What type of reach do you expect to accomplish given this marketing spend?
    • What price points do you think make the most sense given each of the products? How does this compare with the cost assumptions?
    • What types of revenues do you project given the marketing spend?
    • Can you help produce a B2C financial model? How does this compare with the B2B model?

    Suggested Deliverable:

    Produce Go-To-Market Strategy for Iconic Candy’s New eCommerce B2C Model

Project Resources

There are no resources currently available

Industry Mentors

Company Admin

Jordan Wiesen 

[email protected]

Academic Mentors

There are currently no supervisors assigned.

Assigned Students

There are currently no students assigned.