ZENCV already has some following in Italy and around the world. The company seeks to expand into new markets and accordingly asks for your help with the market expansion strategy.
Please present your recommendations for the following:
Section I. Marketing
1. Market Research
To provide the foundation for your marketing strategy development, start with market research. ZENCV suggests that you do the following:
To better understand customer tastes and preferences and test the product-market fit
• Survey a sample of people who could potentially order CV writing services from ZENCV.
The suggested interview questions are provided in this online survey
Use this link to view the collected data
• Survey a sample of HR specialists to understand better how they manage their recruitment and selection and how they process job applications and CVs.
The list of suggested interview questions are provided here Use this link to view the collected data
• Imagine that you need a CV either as a student or as a working professional. Go to zencv.it and navigate through the website looking for the service that you might want. Try using mobile as well. How would you describe your customer experience? Easy? Hard? What do you think about the website? Could you help ZENCV by proposing ideas for improvement? Fill in the results here.
• SEO: Assess ZENCV’s online presence compared to the competition in the proposed market.
Use SEO assessment tools, such as Google keyword planner, Ahrefs free tools, Moz trial free tools, or Ubersuggest to analyze the keywords used by ZENCV vs. the competitors to achieve favorable rankings by the search engines. Find 15-25 keywords that ZENCV’s competitors are ranking for.
When conducting your analysis, it may be a good idea to divide keywords into several groups: high volume search + low competition, low volume search + low competition, high volume search + high competition.
This article provides a guide on how to find competitor keywords and assess their relative rankings and SEO effectiveness.
2. Promotion Strategy
As ZENCV already has a half-finished promotion strategy in place, ZENCV needs help with the development of the promotion strategy on both the operational and strategic levels. Primarily and, most importantly, ZENCV needs help in developing what they already started (SEO blog article research & writing), and secondly, it could also be beneficial to provide creative brainstorming to come up with new tactics that ZENCV can utilize to make their promotion efforts even stronger.
• Operational Promotional Materials (with Awards) :
Most important in this section are the SEO articles to be written (with awards). Also, to potential interest customers, your client will need to present information about its products. Illustrate your knowledge of the target consumers in your chosen new market by developing a mock-up locally-tailored marketing brochure, email or webpage template, or social media post that your client can use to promote the product. It does not need to have the perfect graphic design.
It should only serve as a concept sketch for what the promo material should look like to be effective with the target market segment.
ZENCV heavily relies on content marketing. Consider developing your own content that could be effective for promotive ZENCV’s products, such as:
• Articles (with Awards): Research a chosen topic and write 1-3 SEO-friendly articles on topics relevant to ZENCV’s product.
Check the proposed topics to choose from in this sheet
Here are some writing guidelines
The company is also willing to offer prizes for the best content, more here
• Mockup CV: Create a socially shareable CV for a fictional character (content only, no design).
Write a CV for a fictional (better option) or non-fictional character that is popular in today’s culture or for a character you know well. The content should be usable for online promotion. An example of a CV for the Night King (Game of Thrones) is provided below.
Use this guide when developing your mock-up CV.
• Strategic Promotion Channels: What is the best way to promote the product in the proposed new market in order to convince consumers to buy the product?
Should the product be marketed directly to the end consumers or intermediaries, such as local partners, retailers, or distributors? What are the best message, slogan, and other marketing campaign elements? If applicable, discuss if the brand name or its presentation should be modified to make the product more appealing to the tastes and traditions of the consumers in the new market.
Currently, ZENCV relies on online advertisements and SEO for promotion. Are there other cost effective promotion channels that allow reaching the customers or retailers/disturbers, such as mailing lists, social media groups, professional associations and meetings, bloggers or opinion leaders, industry periodicals, or similar channels that are inexpensive, but allow to get directly (and ethically) to the decision-makers?
Provide a clear step-by-step guide for how to place an ad or distribute a message through the channels you are proposing, how much it will cost, how frequently it should be done, etc. For example, do not merely say “Advertise via Facebook.” Provide the exact steps, cost, contacts, and other tips for maximum effectiveness.
Lesser-known but very effective promotion channels could include:
Influencers: Find niche influencers relevant for our company to build relationships with (e.g., HR specialists, psychologists, business consultants). If you find more than 2-3 relevant influencers, present your research and suggestions in the form of a table that summarizes your findings, including:
• Names of the influencers
• Their presence online (Facebook, LinkedIn, Instagram profiles, webpages)
• What are their terms of promoting other parties’ products and services?
Put all the data related to influencers within this Google form Collected data could be viewed here Social Media Groups: Search for groups on Linkedin, Facebook, Discord, Quora, Reddit or other social media that might serve as a channel for communicating with potential customers via blog posts, news, or discount coupons, and other content. If you find more than 2-3 such groups, present the results of your research in a table that summarizes:
• Group names and addresses
• Target audience: Who are the group members?
• What should be the main message of the marketing campaign, and how should it be presented?
• How content could be posted in the groups, and what are the accepted standards and costs?
Please provide your data related to social media groups in this Google form You can view the collected data here
Evaluation Rubrics
7 – The marketing strategy is rooted in solid market research, the recommended promotion channel(s) is cost effective and allows to precisely target the potential customers, there is a clear step-by-step guide for how to place an ad there and how much it will cost; samples of marketing materials are appealing and convincing, all recommendations are supported by convincing arguments.
4 – Good suggestions, but not enough detail and weak supporting arguments, some parts are irrelevant or redundant, the formatting is inconsistent.
1 - Impossible to figure out what the recommendation is, supporting arguments are absent or entirely off the point, not supported by credible sources.
Section II: Market and Product
3. Industry and Competition Analysis
Start by learning as much as possible about your client’s industry, customers, and competitors.
We recommend that you follow the following steps:
Answer the following questions:
• Who are the competitors of your client company?
• How do they operate? What business model do they use?
• What are their products?
• How do their products and prices compare to yours?
• Strengths and weaknesses of your client compared to the competition?
• Threats and opportunities these strengths and weaknesses present?
A google search will allow you to find dozens of companies that offer resume services. Try to conduct initial research on at least 10-20 competitors. From that list, identify 3-4 most threatening competitors and analyze their product and business model in more depth. Present your results in a table that covers the following:
• Design: How beautiful is the design of their resume samples
• Number of options: Different designs to choose from
• Price: How affordable is their product?
• Service: How good is their customer service?
• Content: How good is their CV content?
• User effort: How easy is to obtain their final product?
Consider presenting your competition analysis as infographics or other easy-to-read format, like the following: When assessing your client’s competitive position, you may find this short guide and this 5-min video on SWOT analysis helpful.
Please use this form to collect the data about competitors.
Access the collected data on this link.
4. Product development
Based on your industry and competition analysis, would you recommend that your client revise their product offering or business model?
Should ZENCV client modify its main flagship product (CV design + CV writing)?
For example, ZENCV is already considering some new options, such as: offering interactive CVs, CVs that have a video instead of a photo, DIY resume builder, help with designing LinkedIn profiles, help with developing cover letters, offering candidate pre-screening services to recruitment companies or directly to potential employers, adding psychological and personality testing of job seekers, etc.
If you are recommending that ZENCV’s main product or business model be changed, and if you are offering several alternatives, describe each alternative in terms of:
• Assessment of the practical difficulty of that alternative: How hard is it to realize?
• Financial analysis of taking that alternative: What would be the costs and revenues just roughly?
• Pros/cons of each alternative When considering new-product and business model options, pay special attention to client retention. That is, after the main product is sold (CV has been designed), can ZENCV continue working with the client and offer other follow-up products and services? What else could clients need in the future that ZENCV could help with, perhaps even after they find a job and no longer need a new CV? How can ZENCV continue helping them at the next stage in their professional careers?
It is OK to conclude that ZENCV should stick with its current product/model. If you believe a modification of the product/strategy is unnecessary, explain what other alternatives you have considered and why you have concluded the current model is optimal.
5. New Market Selection and Analysis
Based on your industry and competition analysis, what are the new promising markets for your client? Which country(ies) present(s) the most significant growth opportunities? Explain the criteria you considered when selecting the most promising new market (e.g., income level, language, geographic proximity, political and economic stability, etc.).
Provide an in-depth analysis of the proposed new market. Describe its culture, institutions, job search traditions, customer tastes and preferences, and anything else that ZENCV must know to succeed in the market.
Please do NOT write here anything and everything you can find about the country. Include only the information that is consequential for the market entry strategy.
Note, the market does not have to be a particular country or a geographic region.
Evaluation Rubrics
7 – Clear definition of the market(s); concise list of the client’s strengths and weaknesses compared to the competition; strong recommendations for product and business model improvements; the recommendation for the new market clearly explained; brief but insightful market analysis, strong supporting arguments, sources properly cited.
4 – Good analysis and recommendations, but some elements are not well-argued; some parts are irrelevant or redundant.
1 - Impossible to figure out what the recommendations, supporting arguments are absent or completely off the point, not supported by credible sources.
Section III. Operations Management
6. Entry Mode and Partners
Are direct sales the optimal market entry mode, or a joint venture, franchising, wholly-owned subsidiary, or a partnership with the local partner would be more effective? If a partnership with a local distributor, retailer, or partner is advised, what companies would be the best candidates for such partnerships?
The local partners could be
• HR/recruitment companies;
• Universities, training schools, NGOs, or governmental agencies that teach students or non-student job seekers how to find jobs and write CVs.
Try reaching out to 5-10 faculties and their representatives and get their feedback on our CV workshop proposal, by either asking them to fill out this survey or asking these questions in person. Click here to view collected results. This will allow you to understand better if this idea would work so that you can
use collected info to structure details of the CV workshop proposal. ZENCV will offer free CVs for best students here as well as the possibility of internship.
Present a list of potential partners and explain why they might be interested in working with ZENCV, including:
• The optimal form of collaboration (e.g., independent partners, joint-venture, franchising, etc.)
• What can ZenCV offer them?
• Who is the best contact in the company to discuss possible collaboration?
Submit the results of your analysis in this sheet. Students that are able to help ZENCV secure a valuable partnership will get 20% of the total value from that partnership (first 6 months) as well as free ZENCV services.
If it is necessary to establish a legal presence in the new recommended market, please provide information on how a company can be registered in the country (steps, time, cost) and what legal entity type would be optimal (e.g., LLC, non-profit, etc.).
7. Pricing
Develop the pricing strategy that will result in the highest profits in the proposed market, including:
• The optimal price structure (e.g., fixed price per CV, subscription, bulk pricing, retention bonus, repeat customer discounts, financing, etc.
• The optimal price point for the recommended strategy: e.g., the price per CV, the cost of a monthly subscription, etc.).
This blog and this article offer a good overview of some of the available pricing strategy options.
8. Finances and Funding
Identify the most suited type of startup funding that ZenCV should go for (for instance: Crowdfunding, Angel Investor, Loans, etc.) by also stating the rationale behind that choice and PROS and CONS for each identified opportunity. Give 5 suitable examples of potential investors for the best type of investment that you have found. (for example if you choose Angel Investor - provide 5 potential Angel investors compatible with out business)
Recommend sources of funding for future growth, such as:
o Government grants for startups
o Government grants for companies that aid people in their job search.
o Special loans/financing instruments
o Startup competitions with monetary prizes
Provide additional information, such as: internet links to resources with more details on the funding agencies and the relevant grants, application deadlines, tips on how to maximize the chances of receiving the grants
Evaluation Rubrics
7 – The proposed entry mode, pricing strategy, and recommended sources of funding are viable, an extensive list of local partner provided with all the necessary contacts and details, the recommendations are supported by convincing arguments.
4 – Good suggestions, but not enough detail and weak supporting arguments, some parts are irrelevant or redundant, the formatting is inconsistent
1 - Impossible to figure out what the recommendation is, supporting arguments are absent or completely off the point, not supported by credible sources.
REPORT STRUCTURE AND FORMATTING
Report structure:
• Title Page must contain
o team number
o client company name
o names, emails, and countries of residence of all the team members and a short summary (5-15 words) of the role and work completed by each team member.
o If any of the team members dropped out or did not contribute to the report, please still list them, but add a note “Did not participate” by their names.
• Executive Summary (300-400 words, bullet-list format preferred) that provides a short review of your key findings and recommendations. The Executive Summary should not be saying what the report will be about (list of topics), but rather summarize your key recommendations (the proposed new market, key findings of the industry analysis, key features of the recommended marketing and pricing strategies, etc.). By reading the Executive Summary, your client should be able to see and understand right away your key recommendations. The rest of the report should only provide more details and supporting arguments.
• Report sections corresponding to each question listed above.
Start each report section with short bullet-list summary of the key recommendations presented in the section (2-4 bullets, each 4-10 words long), followed by 2-5 pages of more detailed explanations and supporting arguments.
• References: if you cite any sources in the text of the report, provide full references in this section. Please use APA-6 citation style (google how to cite sources using APA-6 if you are not sure).
• Appendixes: If needed, add additional information in appendices, within the page limit.
Formatting:
• The report must be 15-25 single-spaced pages (7,000-15,000 words) including the title page, executive summary, references, and appendices. Each section should be 1-4 pages long. Generally shorter is better, so be as concise and focused as possible. Design your report for easy navigation and scanning for key ideas.
• Number all pages in your team report.
• Portrait page orientation.
• Margins should be 2.5 cm (one inch) at the top, bottom, and sides of the page.
• Font type should be 12-point Times New Roman throughout the report.
• Single-space all body text.
• Indent the first line of a new paragraph.
• The text should be left aligned.
• All citations used must be cited in the text and in a reference list at the end of each report. In-text citations should include only the name of the author (s) and the date of the publication. Full references should be provided at the end of the report. Please use APA reference style.
• A picture is worth a thousand of words, so use of figures, graphs, pictures, as well as tables is encouraged. It is recommended these are included in the main body of the report.
• Know your client: Which English spelling dictionary and paper size (A4/US Letter) varies based on which country your client’s business is headquartered.
Note About Presenting Academic Frameworks to Business Executives:
Academic frameworks (e.g. SWOT, PESTLE, Porter 5 Forces, etc) are excellent for populating data and facilitating analysis. They demonstrate a more rigorous thinking process rather than just ad hoc anecdotal opinions.
However, it is the insights drawn from such academic frameworks that is of interest to business executives. Just populating an academic framework and placing it in the body of a report without highlighting the insight gained adds little value for the business executive. The eyes of a busy business executive will skip over a busy populated academic framework as discrete descriptors within the framework mean little – it is the relationships and insights that you highlight that is valuable to a business executive (do not have the reader guessing what you thought was important in the chart – tell them).
The best reports discuss the insights within the body of the report, perhaps supported by a simple chart, referencing the academic framework in the appendix. Diagrams, charts, summarised tables, etc. certainly are fine within the body of the report, but there should be an easy to deceiver message from such graphics.
Download a PDF of a report from McKinsey Quarterly (www.mckinseyquarterly.com) to obtain an illustration of one approach.
Evaluation of the Executive Summary
7 - Short but gives a very good idea about the key ideas presented in the business proposal, the client can get a good idea about the main points of the proposed strategy from the executive summary;
4 - Gives some idea about the key suggestions, but some points remain uncertain; a bit too long; not to the point.
1 - Not possible to figure out the key ideas of the business proposal from the summary, too short or too long Evaluation of the Formatting
7 – The report has a clear structure, visual appeal, the sections are consistently formatted, sources are properly cited, the formatting guidelines are followed exactly with respect to the page limit, font and other requirements.
4 – The formatting guidelines are generally followed, but there are some deviations, there are some signs of sloppiness in document formatting.
1 – The document looks very unprofessional, different report sections are formatted differently, the document is very hard to read and navigate.
