*NOTE: CollegeCrate is an
online subscription of mailed care packages to college students. The packages
can vary in themes from forgotten essentials (toiletries, snacks, etc) to
finals week to a breakup box with items sure to be the perfect fix to any college
student’s need. The startup company, while an online based service, found
success by marketing specifically to the Texas State Campus last year
TLU CollegeCrate Preliminary Research
Report
With the success of New Braunfels based startup
CollegeCrate on the Texas State Campus, the company has approached our firm to
form a plan to market to the students of Texas Lutheran University. With over
10,000 current subscribers (roughly 25-30%) on the San Marcos campus, the
company has proven to be staple of college life and CollegeCrate is confident
that a transition to TLU would be equally successful.
While TLU is a substantially smaller campus and would
seem to be an easier market to target, we recognize that the campus has many
differences and diverse qualities that require special attention to specifics.
We have done thorough demographic research, as well as looked at trends for
students, and have conducted on campus interviews with TLU directors in order
to get the best information before a specific plan in formulated. In order to
understand how each point impacts the greater mission of marketing to the students
of TLU, we are starting off our report with a SWOT analysis to determine the
key Strengths, Weaknesses, Opportunities and Threats that face CollegeCrate at
TLU. Taking this analysis, we can then incorporate our research on the key
stakeholders and address the primary obstacles and potential issues we may face
in order to develop an effective PR plan.
Strengths:
·
CollegeCrate has
specifically tailored services designed to meet the needs of college students.
·
Customizable
packages allow for guaranteed satisfaction.
·
Unique business
plan. In the beginning stages of their growth, CollegeCrate individually
markets to college campuses in order to gain a strong, concentrated customer
base.
·
Low prices, online
format and relationship with Texas State allows for growth.
Focus: The college
students.
According to the TLU
registrar office, Texas Lutheran University had 1,336 students on campus in
2017. This provides a limited, but specific target market. The campus is
diverse, greatly exceeding the national campus diversity averages in both
gender and ethnicity.
A study on college student
shopping habits showed that 78% plan to shop for school supplies online. A
follow up result showed that 98% of students have shopped online in the past 30
days. This shows that online shopping is a huge part of college life and
CollegeCrate would be a perfect way to combine essentials and luxury items into
an accessible, delivered package.
Another stakeholder to
note would be the parents of college students. While many student themselves
are going to love ordering subscriptions and customizing their own
CollegeCrates, some may not be able to afford it all the time. This is where
parents come into play. Parents of students will want to help provide for their
children while they are away at school and ordering a care package subscription
is a thoughtful way to show they care. Additional studies show that over 60% of
parents financially support their adult children. CollegeCrate is an affordable
way to take care of a loved one.
Weaknesses:
·
CollegeCrate
currently has no relationship with TLU
·
Online based
operation gives CollegeCrate no presence on campus.
Focus: TLU relationship
It is essential to
approach the PR technique with something to offer TLU. A perfect example would
be to sponsor campus events such as Spring Fling or a Game Night. Paying a relatively
small amount to cover the costs will strengthen ties with the University and be
used as an advertising tactic.
Opportunities:
·
Online format is
an opportunity for growth/flexibility
Focus: Partnerships with
Bookstore
Partnering with the TLU
bookstore (a 3rd party entity itself) by selling basic CollegeCrates
instore will give the bookstore the profits from the marked up items and give a
relatively physical presence to the CollegeCrate items. Students who buy the items
and like them can then go online to find customizable options and monthly
subscription plans at a cheaper price.
Threats:
·
TLU Student Life/Residence
Life may reject our offer due to potential encouragement of students staying on
campus for everything
·
Competition-Other
dining options and Bookstore may not be receptive to a new business offering a
multitude of products to students.
Focus: Residence Life
After interviewing
members of the TLU Offices, we found that in fact, many are receptive to the
idea of CollegeCrate on campus. They think it won’t be such a competitive point
for dining services and the previously mentioned partnership with the bookstore
would alleviate any competition. They are actually interested in the prospect
of having such a previously successful (Texas State) innovation on TLU grounds.
Future Plans (Details at a later date):
Advertise with TLU
(emails, TLU residence life ad, etc.)
Bookstore Partnership
(sell basic, marked up Crates that get students exposed to the product)
Sponsor TLU on-campus
events- Spring Fling - Bingo Night - Game Night - Movie night (The prizes would
be CollegeCrates.
Freshman Needs List
Advertisement to both parents and students.
Sources:
https://www.collegefactual.com/colleges/texas-lutheran-university/student-life/diversity/#secOverall
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