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Revolutionizing air drop deliveries
The focus of the thesis was on the emerging drone delivery industry, and the goal of the project was to create a financial model and marketing plan for our client. Our team started the research by examining existing literature to conduct both Porter’s Five Forces analysis of the industry and a PESTEL analysis of the external environment. We discussed the company’s internal situation with the client and performed a comprehensive analysis of the company’s internal (strengths and weaknesses) and external (opportunities and threats) environments. In addition to secondary research, we conducted primary research with an online survey platform to determine consumers’ readiness for the client’s new technology, the pricing model and consumers’ willingness to pay for the client’s services. Although the research had limitations, it helped us determine the potential market for the client’s product, positioning options, and consumers’ perceptions of and concerns regarding the technology. We used the information that we obtained from the primary and secondary research to evaluate strategic alternatives, determine a marketing strategy and create a financial model. The team then applied our knowledge and experience to weigh the alternatives and to devise specific development and marketing recommendations for the client’s future success. The project was a challenging experience due to the early development stage of the industry and the client’s emerging technology. Our team worked collaboratively. We leveraged each member’s strengths and expertise to complement another’s area of needed improvement, which resulted in improving everybody’s knowledge and skills. While working on the project I enriched my knowledge of marketing research and online platforms that can be used to gather primary data. I also learned various techniques to analyze the results of online surveys and how to use the data to develop a strategy. I have also learned about various marketing strategies and tools that can be used to implement them. Lastly, our findings and recommendations are proprietary to the client and shall remain confidential.