1st Place in School - Spring 2020
Carnegie Mellon University - Tepper School of Business
Problem:
Closures forced the yoga studio to launch a new online option that only brings in 20% of the revenue and can’t employ all the teachers, and planned reopening with reduced capacity is also not sustainable.
Proposed solutions:
Close the revenue gap by expanding existing product offerings while also engaging new customer segments with innovative marketing strategies.
- Survey current customers and launch additional online content based on responses to increase value
- Grow clientele through referrals and engaging with local hospital and university groups
- Launch merchandise to add retail revenue for at home workouts and to support their online clients
- Shift to a tiered pricing plan for online clients
Reimagining the studio as smaller in-person classes at a premium balanced with diverse and high-value online options gives One Point One Yoga a plan to recover revenue 100%+ of lost revenue within a year.
School Team
Carnegie Mellon University - Tepper School of Business
Competition generously sponsored by
