A new healthy lifestyle – now available online
Sommersemester 2020 - Urban Monkey
Urban Monkey suffered from a lack of adequate distribution channels. We therefore evaluated the possibility and profitability of an online shop for Urban Monkey’s products. The target group for this online shop are students in Austria. Based on this, we designed a financially viable business model for Urban Monkey.
To overcome the apparent lack of distribution channels, we were tasked with the development of an online shop for students. The main goal was to gain insights into the needs and preferences of students in Austria and to develop a strategy on how to reach them with an innovative online shop. In order to enrich this data, we were also required to evaluate the competitive situation in the smoothies and juices market in Austria. Moreover, we analyzed the future trends of the market for juices and smoothies. On the basis of this information, the target was to develop a feasible online business model.
To gain insights into students’ needs and preferences, we conducted two questionnaire surveys at WU Vienna with approximately 200 participants. Furthermore, we conducted an extensive competitor analysis to evaluate who the most important competitors are and what they do right. Apart from the competitor analysis, we conducted a market analysis in order to gain a better understanding of the development and the future trends of the Austrian smoothies and juices market.
We were able to gain extensive insights into students’ needs and preferences regarding their smoothie and juice consumption. One of our main findings is that approximately 60% of Austrian students are willing to buy smoothies online. Furthermore, Austrian students especially value healthy, sustainable and organic drink options. Moreover, students want flexibility in their order sizes as well as an option for free delivery. However, there is still a low awareness of the benefits of Raw products, which indicates the need for extensive Marketing activities. Regarding our competitors, we identified frank juice and true fruits as Urban Monkey’s main rivals in the online market space. However, in our market analysis we concluded that there is definitely a growing demand for healthy and high-quality juices in the future. Therefore, we created a student-centered product offer and tailored Urban Monkey’s Marketing activities heavily to students.
Raffael Etemad Rosenmaier
Richard Olbrecht, MSc (WU)
Carola Wandres, MSc