- MBA FPX 5910 Assessment 2 Capstone Proposal
Introduction
The challenges experienced by Blue Apron in the cutthroat meal-kit market are explained in this business proposal, which is my MBA capstone project. This project will target an improvement in both market positioning and consumer interaction within an industry of more than 150 competitors, by developing a comprehensive strategy based on consumer needs.
Summary
With the rise in competition and a fast-moving customer preference for more personalized and flexible meal alternatives, Blue Apron is under a great deal of pressure to keep its early lead and market share. Customers are behaving differently due to the increased use of technology and new health consciousness, and this has transformed business expectations along with other rising challenges.
As time goes on, consumers are increasingly drawn to meal kits that cater to their unique eating requirements, employ sustainable produce, and allow for greater personalization, apart from being practical. Reports (Grand View Research, 2024) show that firms responding rapidly to these consumer preferences are continually gaining and sustaining relationships with more clients.
This capstone project will look into considerable detail to determine the effectiveness of Blue Apron’s current marketing strategies in today’s intensely competitive market. Examination of Blue Apron’s market segmentation strategy and revision of any required changes to fulfill the multiple demands found among today’s meal-kit purchasers. To serve expanding customer demographic categories adequately, it is necessary to investigate current demographic targeting methods and make modifications.
Improving Blue Apron’s advertising tactics to create a stronger relationship with the target market. To accomplish this objective, modifications to advertising copy, improvements in marketing platforms (including digital, social media, and influencer ties), and tailoring of product offers based on individual customer requirements are essential. Blue Apron’s ability to meet market requirements and maintain consumer loyalty will be strengthened as a result of many strategic plans.
Discussion of the Proposal
The booming meal-kit industry features Blue Apron as one of its main players.
Nonetheless, in a more and more saturated market, retaining its distinct allure is a challenge for the corporation. Raised selling components in the area involves inexpensive costs, a broad food selection, and niche nutrition systems, which are highly interesting to customers. Given the enhanced level of competition in the market, shoppers watching their pennies may find the premium positioning of Blue Apron less appealing.
The new research from Grand View Research (2024) indicates that consumers are moving from generic meal kits to a wider variety of customizable choices. This trend is being fueled by meal kits that supply customizable choices for vegan, keto, or gluten-free diets, together with tools for planning meals and managing portion sizes.
Blue Apron has been slow to modify its offerings in response to such customer requirements, which could have cost its engagement with a broader population. Blue Apron’s advertising has conveyed for quite a while an upscale dining experience, with ads that emphasize the level of quality and sustainability of its foods.
MBA FPX 5910 Assessment 2 Capstone Proposal
A segment of this review will necessitate reviewing customer feedback so we can gauge their thoughts, levels of happiness, and causes for ending their relationships with us. As part of the process, the assessment of current trends in meal customization and dietary preferences will be achieved through scrutiny of industry reports and consumer behavior studies.
The preparation of refined digital tools that enable personalized meal plans targeted toward specific dietary preferences; the adaptation of adjustable pricing models to attract more buyers through large discounts or compact kit sizes for consumers; the use of focused advertising approaches to different consumer categories; and, finally, the use of artificial intelligence to guide advertising and promotional endeavors.
Strategy and Scope
A customer-centric marketing approach is the central focus of this capstone project. Improving the way Blue Apron engages with its current and future clients is the intention. Blue Apron’s strategy is important for addressing the current gaps between its products and market demands, as well as for generating approaches to fulfill customer expectations.
This leads to an extensive evaluation of Blue Apron’s current standing in the meal-kit market. This initiative will give Blue Apron the clarity needed on its market standing, consumer opinion about its brand, and how it differentiates itself from its chief competitors by comparing the outcomes to theirs. Blue Apron’s position in the industry will be examined for this research by considering financial data, customer surveys, and market studies.
The focal aspect of this pursuit is the study of consumer behaviors and preferences. At this juncture, information will be gathered and analyzed directly from client feedback, internet activity analytics, and market research studies. The objective here is to obtain further details about the consumers interested in meal-kit delivery, what type of meals they prefer, how much they are willing to spend, and what new trends the market may hold. If Blue Apron intends to shift its offerings to fit its customers’ needs and wants, then it will first have to understand these factors.
Thus, within the context of this analysis, the continuous focus on segmentation, targeting, and positioning will allow for the assessment of Blue Apron’s current marketing strategies. Here, we will take a look at how effective Blue Apron has been in its marketing strategies to reach the intended target markets.
The focus will be on the ways of employing different marketing platforms, the degree of matching AMC with consumer values and expectations, and the final impact on customer attraction and retention. These topics are where we can identify areas for Blue Apron to double down on marketing and capitalize on opportunities for innovation. The purpose of the project is to help Blue Apron develop its market position and customer engagement strategies based on the useful insights derived from the analysis of these critical factors.
Action Plan
Blue Apron’s redesign of its marketing strategy is the central focus of the capstone project, which requires a careful approach to data collection, analysis, and subsequent formulation and execution of marketing tactics that will reinforce Blue Apron’s market standing and user engagement.
Besides, customers both past and upcoming will be asked to fill out surveys and be interviewed in focus groups for primary data collection. Combining these data sources helps create a sturdy foundation for future research that will uncover essential information about our customers and the overall competitive environment.
MBA FPX 5910 Assessment 2 Capstone Proposal
Moreover, Blue Apron will conduct a competitive benchmarking activity against the services of its competitors. This act will facilitate the discovery of Blue Apron’s present strategy’s strengths and limitations. The information in the data study will guide marketing efforts toward their ultimate results.
To make Blue Apron’s marketing campaigns more successful, these techniques will be individualized to suit the types of customers that have been identified. Also, new or improved products will be recommended based on customer observations and the disparities found in the present market offerings, as noted throughout the benchmarking process. This means that Blue Apron’s products will always resonate with what buyers desire and what the marketplace calls for.
The implementation roadmap, which will specifically identify dates and high-performing marketing channels, will spell out the procedures needed to introduce the new marketing campaigns. To evaluate how these campaigns attract and keep customers, we will set up important performance indicators (KPIs).
This step will enable us to examine our plans for marketing using metrics. Data from primary sources and more focused consumer information from IBISWorld is going to complement broader industry data from the likes of Grand View Research to give a complete understanding of the market for the duration of the project. Applying this method allows Blue Apron to be sure that its strategies will rest on extensive market research and be suited to its unique needs.
Conclusion
This culminating assignment aims to scrutinize the marketing challenges faced by Blue Apron and offer specific guidance on how to improve them. By being attentive to customer insights and restating the firm’s strategy, this initiative could significantly increase Blue Apron’s competitiveness and market share.
I believe in the project’s framework and the insights that its data can deliver to aid Blue Apron in reaching unprecedented success. I humbly want to receive approval for the deep analysis and reconsideration of Blue Apron’s marketing strategy detailed in this proposal. This considered strategic opportunity is being viewed with appreciation. Read more about our sample MBA FPX 5910 Assessment 1 Capstone Project Summary for complete information about this class.
References
Grand View Research, (2023, August 4). Meal kit delivery services market size, share & trends analysis report by offering (heat & eat, cook & eat), by service (single, multiple), by platform (online, offline), meal type (vegan, vegetarian), by region, and segment forecasts, 2023 – 2030.
https://www.grandviewresearch.com/industry-analysis/meal-kitdelivery-services-market