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- All Subjects: Entrepreneurship
- All Subjects: Influencers
- Creators: Pierce, John
- Creators: Schlacter, John
‘Aventure,’ which means “experience” or “adventure” in French, defines this upscale boutique and its essence of inclusion. This store does not aim to be your traditional retailer; instead, Aventure aims to build a community within and around the store for individuals with similar styles and passion for fashion. At the moment, the city of Scottsdale (and the Metro Phoenix area as a whole) does not have its own identity in the fashion world. There is no reason why Metro Phoenix cannot, with time, become more recognized in the global fashion community. With an array of exclusive luxury merchandise and an urban atmosphere, Aventure aims to pioneer the Valley’s establishment on the national high-end fashion scene.
The boutique is a result of the vision of its founder Ahmed Imam. Ahmed is a graduating Honors student at Arizona State Univeristy’s W.P. Carey School of Business, pursuing concurrent degrees in Finance and Business Entrepreneurship. Having been passionate about fashion for as long as he can remember, Ahmed will leverage his connections to the industry and excellent understanding of the Metro Phoenix market to turn Aventure into a hallmark of the community. Through his professional experience and educational background, Ahmed also brings the necessary knowledge and skills to the table to effectively run a startup.
The retail industry is experiencing steady growth, with the luxury goods sector expected to perform very well in the coming years. Using market-based sales forecasting, Aventure is estimated to break even by the third year of operations. Sales are expected to grow 20 percent after Year 1, and grow 5 percent thereafter. Net operating income of $83,643 is estimated in Year 1, growing to $141,351 by the end of Year 3. Overall, total startup expenses are estimated to be $206,574, made up of investments from owners and a term loan from Bank of America. The owner investment will be used to cover capital equipment, location, and administrative expenses. These include furniture, equipment, machinery, rent, utility, legal and accounting fees, prepaid insurance, and other expenses. The majority of the term loan will be used to finance opening inventory and advertising expenses, with the rest going towards cash on the balance sheet to ensure liquidity.
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
Micro influencers have become extremely powerful in terms of swaying buying patterns among consumers. This thesis examines the greater impact that micro influencers have on brand marketing. This was completed through a literature review that highlights the evolution of marketing, influencer marketing, discussing reach, relevance, and resonance, and Generation Z’s purchasing decisions. In addition, we conducted an online survey through Qualtrics that allowed us to analyze the impact social media influencers have. The results of our research indicate that TikTok is used most frequently, but Instagram is where social media influencers are followed most. From our data, we concluded that Generation Z is most influenced by authentic, genuine content created by influencers regardless of follower count. We recommend that a brand interested in reaching Generation Z (we refer to the brand as “Brand X”) use micro influencers, as our research shows that genuine relationships are valued among this generation. We believe that micro influencers are the most valuable to use as they are able to create meaningful relationships with consumers due to their reach, relevance, and resonance with the individuals their content reaches.
Micro influencers have become extremely powerful in terms of swaying buying patterns among consumers. This thesis examines the greater impact that micro influencers have on brand marketing. This was completed through a literature review that highlights the evolution of marketing, influencer marketing, discussing reach, relevance, and resonance, and Generation Z’s purchasing decisions. In addition, we conducted an online survey through Qualtrics that allowed us to analyze the impact social media influencers have. The results of our research indicate that TikTok is used most frequently, but Instagram is where social media influencers are followed most. From our data, we concluded that Generation Z is most influenced by authentic, genuine content created by influencers regardless of follower count. We recommend that a brand interested in reaching Generation Z (we refer to the brand as “Brand X”) use micro influencers, as our research shows that genuine relationships are valued among this generation. We believe that micro influencers are the most valuable to use as they are able to create meaningful relationships with consumers due to their reach, relevance, and resonance with the individuals their content reaches.
When examining the average college campus, it becomes obvious that students feel rushed from one place to another as they try to participate in class, clubs, and extracurricular activities. One way that students can feel more comfortable and relaxed around campus is to introduce the aspect of gaming. Studies show that “Moderate videogame play has been found to contribute to emotional stability” (Jones, 2014). This demonstrates that the stress of college can be mitigated by introducing the ability to interact with video games. This same concept has been applied in the workplace, where studies have shown that “Gaming principles such as challenges, competition, rewards and personalization keep employees engaged and learning” (Clark, 2020). This means that if we manage to gamify the college experience, students will be more engaged which will increase and stabilize the retention rate of colleges which utilize this type of experience. Gaming allows students to connect with their peers in a casual environment while also allowing them to find resources around campus and find new places to eat and relax. We plan to gamify the college experience by introducing augmented reality in the form of an app. Augmented reality is “. . . a technology that combines virtual information with the real world” (Chen, 2019). College students will be able to utilize the resources and amenities available to them on campus while completing quests that help them within the application. This demonstrates the ability for video games to engage students using artificial tasks but real actions and experiences which help them feel more connected to campus. Our Founders Lab team has developed and tested an AR application that can be used to connect students with their campus and the resources available to them.
When examining the average college campus, it becomes obvious that students feel rushed from one place to another as they try to participate in class, clubs, and extracurricular activities. One way that students can feel more comfortable and relaxed around campus is to introduce the aspect of gaming. Studies show that “Moderate videogame play has been found to contribute to emotional stability” (Jones, 2014). This demonstrates that the stress of college can be mitigated by introducing the ability to interact with video games. This same concept has been applied in the workplace, where studies have shown that “Gaming principles such as challenges, competition, rewards and personalization keep employees engaged and learning” (Clark, 2020). This means that if we manage to gamify the college experience, students will be more engaged which will increase and stabilize the retention rate of colleges which utilize this type of experience. Gaming allows students to connect with their peers in a casual environment while also allowing them to find resources around campus and find new places to eat and relax. We plan to gamify the college experience by introducing augmented reality in the form of an app. Augmented reality is “. . . a technology that combines virtual information with the real world” (Chen, 2019). College students will be able to utilize the resources and amenities available to them on campus while completing quests that help them within the application. This demonstrates the ability for video games to engage students using artificial tasks but real actions and experiences which help them feel more connected to campus. Our Founders Lab team has developed and tested an AR application that can be used to connect students with their campus and the resources available to them.
When examining the average college campus, it becomes obvious that students feel rushed from one place to another as they try to participate in class, clubs, and extracurricular activities. One way that students can feel more comfortable and relaxed around campus is to introduce the aspect of gaming. Studies show that “Moderate videogame play has been found to contribute to emotional stability” (Jones, 2014). This demonstrates that the stress of college can be mitigated by introducing the ability to interact with video games. This same concept has been applied in the workplace, where studies have shown that “Gaming principles such as challenges, competition, rewards and personalization keep employees engaged and learning” (Clark, 2020). This means that if we manage to gamify the college experience, students will be more engaged which will increase and stabilize the retention rate of colleges which utilize this type of experience. Gaming allows students to connect with their peers in a casual environment while also allowing them to find resources around campus and find new places to eat and relax. We plan to gamify the college experience by introducing augmented reality in the form of an app. Augmented reality is “. . . a technology that combines virtual information with the real world” (Chen, 2019). College students will be able to utilize the resources and amenities available to them on campus while completing quests that help them within the application. This demonstrates the ability for video games to engage students using artificial tasks but real actions and experiences which help them feel more connected to campus. Our Founders Lab team has developed and tested an AR application that can be used to connect students with their campus and the resources available to them.
Chutneys are a form of Indian condiment that can be made in many different flavors and paired with various foods. However, the availability of chutneys in the United States is very limited and many people have not tried them before. With this observation in mind, we founded A2Z Chutneys, which is a business that aims to distribute a variety of organic and locally produced chutneys. Through the Founders Lab program, A2Z Chutneys was created and research was conducted to justify the viability of our business. We were able to gather and interpret data from potential customers, which allowed us to identify a target market. Additionally, time was spent identifying and creating a variety of authentic and unique chutneys that have proven to be desired. This report demonstrates and outlines the feasibility of A2Z Chutneys in providing unique and desirable flavors to the population.