PROJECT YACHT FOR MILLENNIALS
Team Oceans 8 Lisa Mackaness Jeffrey Leone Shannon Sorensen Robert Pesce Mandy Barrows Danielle Freeman
Table of Contents Introduction Meet The Agents Meet The Moorings Mission: Situation Report
Deliverables Research Analysis SWOT Analysis, Mission & Vision Statement, Millenneial Strategy Competitive Advantage Identification & Analysis Personas & Journey Map Strategies/Activities to Grow Market Share
Conclusion Course Sentiments Works Cited
Meet The Agents....
The Agents
Lisa
Lisa graduated with an English degree in 1993 and went straight to work in the travel industry seeking adventure, which she found. The fun included two trips to Alaska, cruising around the world on a private sailing yacht, and before they closed up shop, a flight on the Concorde to London with a memorable train ride on the Orient Express. She met her husband in 2004, and after their two boys started school, she chose to return to college at USFSP to earn her degree in Accounting. She is doing both a tax internship with a local CPA firm and an audit internship with a Big 4 firm this year to figure out what she wants to be when she grows up. She will sit for the CPA Exam this year and begin her Master’s Degree in 2016. ‚A Closed Mouth Gathers No Foot‛
I'm 27 and a Finance Major. I'm from Tampa and work for Baycare Health System. I enjoy playing golf and skiing, and spending time at my mountain house in North Carolina. I'm a big fan of the Buccaneers, Seminoles, and Yankees. ‚Shocking! Positively shocking!‛ Robert
Jeffrey
Jeffrey Leone has been going to college for longer than any one person can imagine. Forget 21 Jump Street, he is living 37 Geriatric Stumble Street. He argues with people for a living. Angrily. Jeff settles debts. Not the cool street kind that his Sicilian forefathers would have understood. He settles credit card debts on behalf of distressed consumers, suffering under the yoke of Big Bank. It is grueling. In 1999 Jeff graduated from college for the first time. He spent weeks slipping past the hunter-killer dogs that patrolled the edge of the USF compound with student loan delivery notices. In 2000 Jeff discovered and fanned an obsession with old muscle cars, especially models that look great from a distance, but repeatedly break down on the highway, leaving him stranded in clouds of coolant laced smoke. He owns a 1967 Chevelle and a 1969 Cougar. They taunt him. He had a 1970 Mercury Cougar, but it burned down on the side of I-75 in 2007 in an epic conflagration that made the traffic report. He would like to thank the van load of shirtless folks that stopped to help, but he wants to know why you didn’t stop. It wasn’t very nice of you. He is married to a lovely woman. He knows she will proofread this, so he has to mention her to keep things peaceful at home. He owns three cats that his wife insisted on rescuing against all better judgment. Hissing is not purring. Jeff hopes that someday, someone will rescue him. The cats are vicious tabby overlords. ‚Forget your perfect offering. There is a crack in everything. That’s how the light gets in.‛ – Leonard Cohen
Danielle Freeman is originally from Fort Lauderdale, Florida. She graduated from High School in 2011 from Boyd H. Anderson High School. The ensuing summer she decided to further her education at USFSP, aspiring to obtain her degree in Management Information Systems. Fast forward approximately four years and she is due to graduate in the Fall of 2015. ‚Kill the symmetry system within. Create, discover the meaning of life‛
Danielle
Shannon
Mandy
Shannon graduated from St. Petersburg College in 2010 where she earned her Associate of Arts Degree and Associates of Science Degree in Crime Scene Technology as well as her Certification in Bloodstain Pattern Analysis. She started working for the Pinellas County Sheriff’s Office in 2009 in their communications division as a 911 tele communicator and dispatcher. She also volunteered at a local funeral home, Hospice and the Hillsborough Medical Examiner’s office while she continued her education in Mortuary Science at St. Petersburg College. After three years in the communications division she soon realized she wanted something completely different and never actually entered the field of forensics or mortuary science. She started working for Florida Bank as a personal banker/ teller and trainer where she started to acquire her financial background. She then transferred to USFSP in 2012 and entered the school of Business where she will graduate this summer with her Bachelors in Business Management and continue her education in NonProfit Management and Leadership. She currently works for Habitat for Humanity of Florida as their state support specialist, executive assistant, compliance officer and book keeper. She loves the nonprofit sector and looks forward to continued work within Habitat by helping others fulfill their dreams and aspirations. She firmly believes in Habitats mission and seeks to serve the greater good of society by putting Gods love into action.. ‚If it doesn’t challenge you it won’t change you‛. Mandy is originally from Massachusetts. She was caught up in the great layoff of 2010 and couldn't find a job because of her lack of a college education. Thankfully, she has a loving family that was willing to help. She packed up her car, put her dog (Dwayne) in his car seat, and moved them down to Orlando to live with her sister, brother-in-law and their two canine kids Murphy and Shelby. While Dwayne got to know his aunt and cousins, Mandy worked hard to get her AA degree from Valencia College. She then packed up and moved them again to Clearwater so she could finish her college career at USFSP. She plans to continue straight through to her MAcc and CPA. She wants to make sure that, no matter what the economy, she will be marketable; she has to be able to buy Dwayne his high-end kibble. She has worked full-time and been a fulltime student for much too long; she is looking forward to the day where homework is something her nieces and nephews need help with; not something she spends her weekends working on. Her dog Dwayne has followed her through this journey and is always eager to go for a walk to help her clear her head. At this writing he is sleeping peacefully at her feet. "Success is not final, failure is not fatal: It is the courage to continue that counts." Winston Churchill
Meet The Moorings....
The Moorings In 1969, sailing enthusiast Charles ‘Charlie’ Cary and his wife Ginny launched The Moorings in the British Virgin Islands. Now, after 40+ years in the industry, with over 20 stunning destinations worldwide and the largest & most innovative charter fleet, The Moorings have established it's reputation as the world's leading yacht charter company. We strive to ensure that sailing charters with The Moorings are memorable and inspiring, whether it’s your first time or your tenth. With decades of experience and a staff dedicated to delivering unsurpassed customer service, you can be confident in your choice to charter with The Moorings. The world’s leading marine leisure business, The Moorings sits within Specialist Holidays Group, created to deliver unforgettable experiences across the world. Specialist Holidays Group in turn is part of TUI Travel PLC, the world’s largest leisure travel company with 20 million customers, 55,000 employees and over 220 brands.
Mission: Situation Report
The Mission Situation Report With an aging customer base, we must assist The Moorings, a yacht charter and sailboat rental provider with developing strategic initiatives to tap into the millennial generation.
Our objectives include: 1. Create a platform that communicates The Moorings mission, values, and business lines to the millennial generation (internally and externally). 2. Develop Strategies or Activities for The Moorings to grow its market share with the millennial demographics in 1-5 years (short, medium and long term), with the goal of making The Moorings the premier yacht charter provider to this demographic. 3. Leveraging the different products within The Moorings to create initiatives to develop new, future and existing customers on a yacht service engagement continuum (from entry level services to the different brands). 4. Connect all recommended initiatives back to the strategic pillars and values of The Moorings.
THE DELIVERABLES
Research Analysis SWOT Analysis, Mission & Vision Statement, Millenneial Strategy Competitive Advantage Identification & Analysis Personas & Journey Map Strategies/Activities to Grow Market Share
RESEARCH ANALYSIS Research Analysis contains all relevant data as it pertains to the charting industry in the locations of business for The Moorings. Data includes competitors, industry data, trends in Millennials demographics, opportunities, best practices in yacht chartering, marketing and customer service communication ,yacht charter data (who are the customers & employees), the best way to enjoy the water, and the five forces model.
Industry Data Basic Boating • 2013: 88 Million U.S. adults have enjoyed recreational boating. • Boating is a social activity. Boaters are joined by their friends – 61.1%. Their spouses are aboard - 54.2%. Their children come along 44.9%. • 1.9 million adults described themselves as active sailors in the past year. • 7.1 million adults described themselves as active power boaters in the last year. • New boat sales have decreased since 2006 and leveled off in 2010. • U.S. sailboat production has declined from 14,158 in 2007 to 6,078 in 2013. • Charter prices are traditionally higher in the winter. 10-60% discounts available for summer ‚off-season‛ bookings
Charter Industry Data • 2013: Bareboat chartering is up 15.4% against 2012, however, the market has not recovered from the losses post-2008 • Multihull fleets continue to grow, up 24%. • Tropical and International waters have cannibalized domestic consumer market share. U.S./Canadian destinations are down 8%. • Most bareboat charter companies require either a sailing resume or certification from the American Sailing Association or U.S. Sailing. • The American sailing association has 300 schools and 457,600 ASA certified sailors. • U.S. Sailing claims over 44,000 members. • 2013: Winter business has increased 23%
Competitors With over 30 spectacular sailing destinations spread across the globe, Sunsail yacht charters, sailboat rentals, or sailing vacations can be found in almost every corner of the world, where the sun shines, the winds blows and the living is easy. Sunsail offers sailing vacations or yacht charters and sailboat rentals in the Caribbean, Mediterranean, Indian Ocean, South Pacific, South East Asia and the UK, each offering a unique culture landscape to explore.
Horizon is also established in the British Virgin Islands and offers bareboat, crewed and learn to sail charters on a range of monohulls and catamarans. They also sell yachts for private purchase as well. They travel to 7 locations, 2 in the United States.
BVI Yacht Charters should be your first port of call when looking to sail around the islands. We offer catamarans and monohulls, crewed yachts or bareboats. You can come for a few days or a few weeks and a professional and dedicated team are on hand to make your time with us the trip of a lifetime. Our fleet ranges from 31ft to 54ft and all yachts are of the highest standards. Choose the exact boat you would be using on your vacation.
Current Customer • Aged 50-68 Word of Mouth Buyer but only extends to group personally known • Not as comfortable with Technology for ALL Uses, only as needed • 83% Married Family Travel – Empty Nesters • Advertised to: Relax / Reconnect with Spouse- Family / Enjoy Luxury in High Style • Pictured in Media Eating, or Glass of Wine in Hand, Lounging on Deck • Generally were Bare boaters with Sailing Experience
Desired Customer • Aged 20-37 Word of mouth Buyer too, but Social Media has expanded that group immensely! • Technology used BEFORE other means, likes new ways to apply it • 23% Married-Single/Couples Travel • Advertised to: New Experiences & Adventures / More Casual but still likes finer things / Foodies • Pictured in Media in ACTION, with Friends , Drinking Mixed Drinks or Beer • Little Sailing Experience (unless family experience) more Power Experience
The Crew • Crews are Couples, some Married. Aged 25-50, Average 35 • Well-Traveled, Most College Educated with Professional Experience Prior to • Entering Chartering World • Adventurous, Outgoing Individuals with variety of Interests
This all works in favor of marketing to Millennials! Young, dynamic crews with a lot of world experiences and hobbies, who bring that to their guests!
Opportunities •Increase the online sales of 7%. •Improve website ease of use. •Mature and nurture current partnerships i.e. GoPro •Repackage and reinvent the Monohull sail it yourself. (Keep it relevant) •Develop the emerging Crewed and Power Catamaran markets. (Maintain growth)
•Expansion into the Millennial market. •Possible new partnerships. (enter into unfamiliar territory) •New marketing mediums. (Advertising airspace time on MTV) •Explore endorsements. (Find a celebrity to market The Moorings experience)
Potential Market Opportunities for The Moorings include expanding into the millennial market segment, entering into new partnerships/alliances to boost company exposure and competitiveness, providing a lower cost beginner option accompanied with a better group option, providing a more structured experience centered upon entertainment, Implementing a growth oriented rewards system, and Improving website ease of use/digital presence on social platforms.
What we know about The Millennials‌‌
The Millennials
Survey of 52 Millennials
What we know about The Millennials‌‌
The Millennials
Want a lot of Choices Flexibility & Convenience Personalization & Customization Expect Services Instantly Innovative & Creative Diversity Balanced Life Like to Belong Learn by Doing
Best Practices Best Practices in Yacht Chartering… First it’s advisable to establish an overall budget of how much you would like to spend on your very special yacht charter. The next thing to determine, when you are looking for a boat, is to make sure that the boat that you select is Available, Inspected and certified for the number of guests you will be accommodating on board. The main frame values would be, ‘When would you like to charter a yacht? (exact dates) and ‘How many cabins would you need or how many persons you want to accommodate?’, ‘The cost of the yacht itself-Fuel-is it included?’ ‘food and beverage’, ‘crew or no crew’, ‘destinations’, ‘insurance’ and ‘the delivery or redelivery fee’. Basically there are many ways to charter a boat or luxury yacht, so what is the best suggestion? First Option- The best and most restful and stress-free vacation, is to book a cruise on a fully crewed yacht, where the boat is exclusively yours for the duration. The vessel can be sail or power, and the crew will navigate, sail and prepare the beverages and meals. This is definitely the most luxurious way. Second Option- With a captain-only arrangement under which the charter company provides a qualified captain, usually a person expressly chosen not only for their nautical experience but more importantly for their ‚people-skills‛ and ability to interact socially with a wide variety of guests. You and your party will be expected to do the meal preparation or to eat ashore at the many available local restaurants and watering holes on the different islands and do the clean up. Third option-is a ‚bare-boat‛ Charter without captain or crew. Under this arrangement you and your party will be the captain and crew. Of course, some prior experience will be necessary for your own safety, you and/or your guests will be required to fill out a form known as a ‚sailing resume‛, take out accident insurance and provide a security deposit before the Charter Company lets you leave with their boat. Fourth Option- is to book a cabin charter on a crewed yacht. Some of the larger private yachts allow bookings by the cabin: boats will typically leave their port of origin on a fixed timetable and itinerary, say, on Fridays at mid-day and return to the same port on the following Thursday at midday. You will be sharing the vessel with other guests and your fellow passengers will be basically ‚Pot-Luck‛. This is a more economical way to have the fun without paying for the whole boat.
The Best Way The best way to enjoy the water and vacation is from the deck of your own private fully Crewed Charter Yacht. A fully crewed yacht comes with a captain, deckhands , stewards and cook. With the Moorings you will have your Captain and Chef who do everything. For the price of a cruise you and your friends/family sail in comfort, with first class food and service, but you decide the menu and where you sail. The emphasis is on visiting near by towns and beaches that are often inaccessible to large cruise ships or hotel guests. There is no work or clean up, you are waited on hand a foot, and can enjoy the knowledge and experience your crew has and will share with you.
Five Forces Model of Competition Five Forces Model This theory is based on the concept that there are five forces that determine the competitive intensity and attractiveness of a market. 1. Supplier power. An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another. 2. Buyer power. An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organization; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms. 3. Competitive rivalry. The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness. 4. Threat of substitution. Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market. 5. Threat of new entry. Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.
The Moorings’ Model
SWOT Analysis, Vision & Mission Statement, Millennial Strategy SWOT Analysis contains the strengths, weaknesses, opportunities and threats of The Moorings. The mission and vision statement will frame the millennial strategy and will act as a tool for future decisions about their millennial strategy. This portion will also contain a developed millennial strategy for The Moorings influenced by the company’s core values.
SWOT Analysis SWOT Analysis is a tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results.
Strengths • Positioned as branded leader • Existing Partnerships
Weaknesses • Duration of Trip --- 5 day minimum • Website dated & App accessibility
Opportunities • Lower Cost beginner option • Interactive Apps/Refurbished Website/SM Platforms • Growth Oriented Rewards Program
Threats • Lower Cost competition/alternative vacations • Decline in customer base
Vision and Mission Statement Vision Statement We strive to deliver unparalleled boating vacations. We are on the cutting edge of the latest technological innovations and offer efficiency in all processes. We continue to grow, inspire and connect a community in the boating world. Because we believe in a sustainable business model, we will continue to protect our oceans, enrich the countries and peoples where we make port, and seek to build harmonious relationships from within our organization extending throughout the world.
Mission Statement The mission of The Moorings is to provide luxurious worldwide charter boat experiences to all generations springing life-long connections.
Core Values A Great Place to Work
Fabulous Customer Experience
Digital by Default
Commercial Excellence
Millennial Strategy Ocean’s 8 Millennial Acquisition and Retention Strategy 7 Key Cornerstones: 1.) Shorter Duration Trips: A new segment of crewed trips will be offered featuring a guided and structured itinerary over a condensed period of time to minimize cost, while not impacting service excellence. This will be an introductory product designed to entice increased future involvement. 2.) Cabin Matching Service: The Moorings will provide a venue for Millennials to book single cabins and match them with other Millennials seeking to book single cabins as well. 3.) Interactive Hex Map: A map of the leading Moorings destinations will be featured in a clickable hex graphic form, allowing previous vacation goers to upload photos and comment on experiences that they enjoyed within the area depicted on the map. This will encourage Millennials to co-create a Moorings playground showcasing the best features of the area. 4.) Events: These will enable the Moorings to provide a proprietary experience and carve a brand reputation with Millennials. This will tie in with more group offerings, engaging clusters of Millennials, and defraying costs over larger segments. 5.) ‚You GoPro with The Moorings‛ This will provide material for promotional videos and be used to spread the Moorings brand to the social networks of established and first time customers. 6.) Charities: These will present a new touch point for altruistic, environmental savvy Millennials.
7.) The App: This will link and build on the Moorings new model of developing connections and forging long lasting relationships with its Millennial clients, and between its Millennial clients.
The Millennials & Charities
Millennials care about causes and are more likely to show a preference toward companies that support causes— even if it means paying a bit more for those companies’ products Affiliation with a cause is more important to the Millennial generation than to any previous generation 75% of Millennials gave to charity Millennials want to ‚personally identify‛ with charities
Events Fleet Cruises, with groups of Millennials partaking in a shared vacation, concerts that will generate excitement featuring up and coming artists, food and wine tastings, and sporting events. ďƒ˜ Group Offerings ďƒ˜ Engaging clusters of Millennials ďƒ˜ Defraying costs over larger segments Host an event to raise money for a specific charity Automatically apply a percentage of each online sale to a charity of the purchasers choice
Cabin Matching Service Locate Boat Mates Program Objectives 1. 2.
Fill boats by solving the "who do I sail with" issue Connect a worldwide diverse group of travelers together
To Grow, Inspire and Connect a Community in the Boating World!
Sample Questions When do you want to set sail? Do you smoke? How much do you drink? Do you envision quiet relaxing trip or a high energy party? Are you an early or late riser, early or late to bed?
Shorter Duration Trips Introduce a Millennial to the yacht charter business in a less expensive, structured format that still upholds the Moorings as a luxury brand leader. This trip is designed as an entry level experience that will grab Millennial interest, and be used as a platform to upgrade to a more extensive, lengthier, and freeform trip.
Get On-Board Program o Shorter Duration o Crewed Trip o Delineated itinerary o Predetermined Destinations o Small Fleet to defray Costs o Entry Level
Moorings’ Masters (The App)
Constant Customer Engagement
Increase Brand Awareness
Promote Company Initiatives
‚You GoPro with The Moorings‛
‚You GoPro with The Moorings‛ Located in Booking Application 2 GoPros per vessel Customer captured footage Winners chosen per trip and quarterly Prizes awarded i.e. 15% off next vacation Annual compiled video of the year’s winners in the form of an interactive Hex Map Organically grown advertising spawned from successful Moorings’ trips
In this manner the Moorings will continue to engage its former customers, keeping them in touch with the brand and sharing the brand to people unaware of the Moorings.
Interactive Hex Map
Maps of the various areas the Moorings operate in Click on individual hexes Zoom in and display some of the exciting features associated with that zone Users will be able to vote, and their favorite areas will be ranked People who have visited the area will be able to upload photos and videos Creates a massive interactive advertisement for the Moorings
Competitive Advantage Identification & Analysis Competitive Advantage Identification & Analysis contains the type of competitive advantage being pursued by The Moorings using the five generic competitive strategies. This portion also contains a Business Model Canvas which includes all the aspects of a company’s approach to developing a profitable offering and delivering it to its target customers.
Five Generic Competitive Strategies Competitive Strategy Deals exclusively with the specifics of management’s game plan for competing successfully—its specific efforts to please customers, its strengthen its market position, counter the maneuvers of rivals, respond to shifting market conditions, and achieve a particular kind of competitive advantage. Early in the process of crafting a strategy, company managers have to decide which of the five basic competitive strategies to employ—overall low-cost, broad differentiation, best-cost, focused low-cost, or focused differentiation. Low Cost
.Striving to achieve lower overall cost than rivals on comparable products that attract a broad spectrum of buyers. Broad Differentiation Seeking to differentiate the company’s product offering rivals’ with superior attributes that will appeal to a broad spectrum of buyers. Focused Low-Cost Concentrating on a narrow buyer segment (or market niche) and outcompeting rivals costs, thus being able to serve niche members at a lower price. Focused Differentiation Concentrating on a narrow buyer segment (or niche market) and outcompeting rivals with a product offering that meets the specific tastes and requirements of niche members better than the product offerings of rivals. Best Cost Provider Giving customers more value for their money by satisfying buyers’ expectations on key quality/features/performance/service attributes while beating their price expectation. This option is a hybrid strategy that blends elements of differentiation and low cost strategies.
The Moorings are pursuing a Broad Differentiation Strategy. The company is seeking to produce a competitive advantage by incorporating attributes and features that set it’s service of yacht charting apart from its rivals in ways that buyers consider valuable and worth paying for. It is a luxurious yacht company that is selling an experience that is worth paying for. Our long term strategy ultimately aims to capture and retain the millennial customer by essentially demonstrating to them that a trip with The Moorings is more than a yacht charter. Each experience is one of it’s own with an opportunity to create life long connections.
The Business Model Canvas The Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs.
The Moorings’ Model
The Personas & Journey Map Personas and Journey Map contains digital renderings/illustrations of three target millennial customers for The Moorings accompanied with a compiled journey map. Each persona profile includes who the persona is, personal values, demographics, income, lifestyle, and a quote that represents the persona.
Personas Abbie just graduated from Ohio State at the top of her class. Yes, she has a few student loans to tackle but she just landed a choice internship with Deloitte and she is ready to succeed in the workplace. Abbie knows she has a bright future ahead. She lives with a few college friends and rents a small place downtown within walking distance of restaurants and entertainment. Many of her college friends have graduated and dispersed across the country to find good jobs. Abbie spends much of her time sharing Instagram photos to her friends in Brooklyn and Boston and keeping up with her freshman roommate on Twitter. A good deal matters. Every dollar needs to stretch. They only defer student loan payments so long, right? She has yet to venture out of the country, growing up in a small town, but she is looking forward to the opportunities a full-time income will yield.
Start Up? It is underway. Google will be calling soon. Marcus developed his own app and it is totes. Google won’t actually call, but maybe they might hit him up on Twitter. Marcus graduated with a degree in computer programming and flirted with the idea of getting his masters before him and his work colleagues crafted the best, most innovative app to ever hit the market. He’d tell you what it is, but the patent hasn’t come through yet. Marcus is mobile. He works from home or shared office space with that guy who yells too loud on the phone. He stays connected and is always looking for the next networking opportunity.
So, it has been a bit of a roller coaster, the housing boom and then how can we forget the housing bust? Job market wasn’t the best for Christopher during some of his prime earning years, so he went back to school, and took the opportunity to finish a Masters in Finance. Things are starting to come together now. Boss man just awarded him an office with a window and the McAllister account. Better yet, he met Jessica on a dating site and it looks like things might be moving toward marriage and a family. In the meantime work has been all encompassing. Fifty-five hours a week, a forty-five minute commute, goals and demands. Christopher hasn’t taken a vacation in three years, but he wants to take Jessica away for at least a three day weekend. She deserves it.
Abbie’s Journey Map
What do Daytona Beach, South Padre Island, and the Florida Aquatic Preserves in Tampa have in common? For Abbie they were a world apart. It was her Junior year of college. She made the requisite pilgrimage to Daytona for her Sophomore spring break, but with her Senior year rapidly approaching the idea of another party-fueled experience fell flat. Like many colleges, Ohio State offers a bevy of alternative spring break trips. Abbie wanted something different. She wanted to make an impact. After searching a list of trips offered by the Ohio State Buck-I-Serv Program she found this venture:
Florida sun? Check. Spoil Islands dotting green-blue channels of water? Check. The ability to have a positive effect on the environment while meeting cool people? Check. Abbie and seventy-five other students signed up for the week long excursion. The Moorings, a charter yacht company, helped sponsor the trip. They were located in nearby Clearwater and used one of their catamarans to help ferry students to Egmont Key for a beach cleanup. There were rumors of a pod of dolphins moving through the bay, but Abbie never caught a glimpse. Maybe next time. The boat made a lasting impression on Abbie. The idea of cruising tropical waters, enjoying a book, swimming, and lazing away the afternoon sounded magical after another grey Ohio winter.
Marcus’ Journey Map
Twenty-five hundred miles away in San Francisco, California, Marcus Williams was looking to celebrate. The app he created hit 10,000 downloads and was being featured in a popular tech blog. Money was rolling in. After two long years of development and ramen noodle dinners, it was time to live. He went to Cornell with Abbie’s older sister and they were all Facebook friends. That’s how he saw the Moorings’ video. The name sounded familiar to him. A few months prior while reading Entrepreneur Magazine, he came across a stunning glossy spread advertising the Moorings’ yacht charter experience. The Moorings seemed like the perfect upper-echelon venue to revel in the app’s new found success. Marcus called his business partners and some longtime colleagues from HP and booked a trip out to Thailand. Six years later Abbie, had gone back to school, completed her Master’s Degree, and just passed the grueling CPA exam. It was a milestone she had worked hard to achieve. Abbie had worked furiously for the last few years at both school and her job. She barely had time to date or socialize. Achieving her CPA meant a hefty raise at work and several new career track options. She deserved a vacation and she knew exactly where she wanted to go.
Christopher Kelly’s Journey Map
Abbie and Colleen had been planning to commemorate the completion of school for some time. They had kept in touch with Henry, Enrique, and his now wife Lorissa. They needed one more participant to book another six cabin crewed Moorings boat. Henry tossed around inviting Abbie’s grandmother, but instead they turned to the Moorings’ Vacation Matcher service and picked up another couple there, Chris Kelly and his new fiancé Jessica. Abbie shared photos and a couple videos with Chris from their previous trip. Last time Abbie and friends booked a 4 day trip, but this time there was nothing holding them back. Abbie had been at her job for 8 years and had a fair amount of vacation time accrued. There were only so many days she could call off sick and go to an Indians game. A nine day trip was booked and better yet, the Moorings was hosting an exclusive concert featuring some up and coming singers and a beach cook-out. Abbie and her friends had a blast. They recorded the concert and uploaded it online. Chris and Jessica were a great fit. The combination of laid back cruising, listening to music, and kicking back some cocktails made for a restorative week. Soon Abbie was back at work, slogging her way through taxes but without school cannibalizing her free time, she met a perfect guy, got engaged and was heading toward the altar. She was 34 years old and when asked about a honeymoon, she knew exactly what she wanted, a Moorings yacht charter experience in the waters off timeless Croatia.
Strategies/Activities to Grow Market Share Strategies/Activities to Grow Market Share contains information on how The Moorings can engage with its customers better, co-create with it’s customers for a more engaging experience, how they may leverage our millennial strategy from it’s competitors, and lastly four performance measures that can be monitored to be evaluated on an annual basis.
Strategies/Activities to Grow Market Share To engage the customers beforehand the Moorings use what they already have such as Facebook, Instagram, direct mail, email blasts, and email blogs. They should also include consistently advertising on platforms such as Pandora, Snapchat, Twitter, Television, radio shows and podcasts. To further increase brand awareness they can also associate with and help sponsor charity work, campaigns and events by demonstrating their environmental and sustainable awareness. To engage with their customers during and after the charter the Moorings should implement a video competition that will engage its customer as well as generate brand awareness. This competition will be known as ‚You GoPro with The Moorings‛. This competition will consist of customer captured footage of their personal experience aboard a Moorings Vessel. Winners will be chosen per trip and quarterly. At the end of the year The Moorings will present a compiled video of the year’s best submissions in the form of an interactive Hex Map located on their refurbished website. The Moorings can co-create with its customers by implementing the program discussed in Part A, the ‘You GoPro with the Moorings’. The customers are participating in the co-creation process by uploading their personalized vacation footage (captured with GoPro) that will later be utilized in a compilation of multiple video feeds that will be put forth as an interactive Hex Map located on their website. This compilation will bring together multiple experiences on a virtual level that will later be used as free marketing material for the Moorings to demonstrate the unique experiences associated with their company. The Moorings can leverage our millennial strategy by simply being consistent on all the digital platforms mentioned above. Using social media platforms such as Twitter, Snapchat, and their app, The Moorings Master Connectors, they must consistently connect to their customer base by posting to all platforms mentioned.
Six performance standards: 1. New Customer Count in 20-40 age range 2. How many downloads of our App monthly 3. How many website hits 4. Online vs. phone sales percentages (online should increase with virtual responder app) 5. How many repeat clients in that original Bunch 6. With the repeat business, change in dollars spent? Other companies measuring their success in targeting Millennials: Whole-foods – model their stores after highend department stores Millennials feel like they’re getting ‚a taste of the good life‛ Macy’s – 20 new brands – ‚Maison Jules‛parisian street style. ‚QMack‛ – mix and match. Gives Millennials individual style Walmart on Campus – smaller versions of its store Aeropostale – new mobile app – in-store iPad kiosks; they use them as a vehicle to ‚tell a story‛ Wendy’s McDonalds Taco Bell – healthier options. Taco Bell is getting rid of their kids menu to focus on an edgier image.
CONCLUSION Course Sentiments Works Cited
Lisa’s Course Sentiments The Text: I found the required textbook to be informative and current enough to be relevant. This is one class where I can see the necessity of frequent editions because the material changes rapidly. I particularly liked the real world examples the text included to explain key points. The Syllabus, Modules, Project Explanation and Assignments: The class syllabus was well laid out and detailed enough that a quick reference to it let me know exactly what was required of me and how I was to be graded. The detailed Canvas section on our semester project included all key points and explanations of where and how to find the information needed to complete the assignments. The Class In General: When I enrolled I was under the impression that we would be put into groups with several different types of business majors and made to run a fake company for a semester with business problems and methods to approach them. I was surprised to find out that it was a lot more strategy focused, and that instead of a fake company, we would be preparing a live pitch to solve a strategic problem for a global company. The main challenge in this has been scheduling the time to get our entire group together to work and to manage the task division for six people. While I really enjoyed getting to know the members of my team, and plan to keep in touch with them past this class, I believe the maximum of four people would be a better size for this type of project. I also felt like so much of the early part of the semester was loaded with preparing presentations and slides on business research and required methods of research, that the I felt rushed in the latter part of the semester to truly build our strategy as well as we could have if given more time. I was pleased that we have had the chance to work with an actual company with a real life problem. I think that the experience has given me an idea of what it truly is like to consult on a job and work in a team atmosphere to solve a problem. I was originally upset that we were not able to select our own team, but will graciously admit it was the best thing that ever happened. Not only did I get teamed up with people I did not know, we are a really diverse bunch and have all managed to get along very well this semester, even becoming friends. The Professor: Dr. Diasio takes an extremely unconventional approach to teaching what could be dry material. He is full of energy, and he really cares about his students and expanding their thinking outside of the figurative box. Some of our classes began with exercises designed to get us out of our comfort zones, push the bounds of communication, and when we first did them we all looked at one another, thinking, ‚What are we doing?‛ In hindsight, I realized how he helped make us all more comfortable expressing ourselves in front of each other, and sometimes just laugh, which helps open the mind to learning. Now I see why he is an advocate of a more unique approach to the classroom experience. It was never a boring lecture followed by a long test to see what we could memorize in 3 weeks. It was a reading, followed by our thoughtful commentary with experiential anecdotes, closed up with a lecture that was supplementary to support the text material, not a mimic of the same on Powerpoint. In Summary: An interesting Capstone course with an excellent experience consulting for a live company. It was full of variety, applied unusual but highly effective teaching methods, and lastly, very memorable.
Jeff’s Course Sentiments I have always felt that there was a great disconnect between the offerings of college and the necessities that govern the working world. This disconnect, I fear is spreading like a chasm filled with the refuse of student loan statements and lofty career goals broken and replaced with the hollowness of retail trajectories. Now that I have completed my second, seeming useless college degree, I am enrolling in the Quantum Temporal Physics Breach program at USF Imaginarium. It is the campus that is adjacent to the ten lane highway carving its way through the heart of Tampa, moving traffic in a seamless and efficient manner. There I will modify my 1969 Mercury Cougar into a time machine, loaded with the same technology that sent man to the moon. Glowing toggle switches flipped, my roaring yellow rust riddled beast will blast through the time barrier, and I will land at the fringe of the 60s when a college degree meant something. It is my only hope. Do not try to stop me. Don’t follow me. You have an education. We cannot swarm the past with degrees. We must preserve its integrity. That is the first rule of temporal breach. I am disillusioned. I worry that college teaches young adults that they are all special magical snowflakes that can land wherever they want, if only they will it, with all their sparkle still alight. The job market and corporate America is deicing salt. As the snowflakes land they will be congealed into the same puddle of murky New York street slush. I am born from Generation X. We were a self-loathing lot, draped in flannel. Why were we always so cold that we had to don flannel? It was Florida for Kurt Cobain’s sake. Maybe the Millennials will be able to right the ship. Maybe there is an app for that. What did I learn from class? I want to thank you for the Moorings project. I thank you more for the traditional aged students than for me. College does not prepare anyone for the marketplace. This project makes a valiant effort to hybridize school and work. This should be emphasized in school, less liberal and more practical arts. I can rattle off Shakespeare, or quote Goethe, or reenact the Battle of Granicus with Persian labeled whiteout bottles and paperclip Macedonians. I learned every ounce of that in college. No one cares except the wizened lady who guards the supply closet at work. How is Alexander the Great’s cavalry supposed to ford the post-it-note river unless I can secure more blue sticky notes? How? The Moorings appears to be a great company with a warm culture. May I make a suggestion? Next time you do a project like this, aim to align it more with my personal experiences in the professional world. You start with a five student project team. Sometime in week 6, you downsize the team to three while increasing the workload. Curtly tell the class to make do, or more cuts will come. Replace the third member of each team with an Indian colleague from Mumbai who can only communicate over Skype at 2:00 in the morning, and is ridiculously polite, but fails to understand the meaning of Strategic Management. Instead, he keeps saying Rat-egic Management. Why is he building a maze out of bamboo loaded with a ghee soaked treat? It is not rat management. This is not going to get anyone an A. Keep increasing the hours of the class, formerly from 6:00 to 9:00, but now 6:00 to 11:00. We need the coverage. Randomly cut power to the classroom to keep things edgy. Half way through the semester grow mutton chops and announce that you are Rafe Diasio, the evil twin of the former professor, and new district professor. Increase goals, and timeframes. Modify the grade scale and add lots of minuses. When questioned state, ‚If you don’t like it, sign up for another session of GEB4890.‛ Do this long after the drop date. This will present a true vision of American business. Really grind the Millennials and freeze their hearts. The snowflakes can’t melt if they are always cold. Then they’ll need flannel and I’ll be there to sell it to them. Seattle grunge forever! Check me out at angry_flannel_man.com. #Angsty Layers. Download my app, Flannel Channel. It is just a blank screen, but I can now tell people I founded a startup. Hit me up on Instagram, if you want to buy equity.
Danielle’s Course Sentiments I pretty much have some mixed feelings when it comes to this course. But, before I dive into those emotions I will first just give my opinion on the textbook and the professor. I found that the textbook is pretty informative. It gives great explanations and precise definitions on all of the concepts introduced. I wouldn't mind some more pictures in the text though because I am a visual learner so it would help my learning. Also, the examples in the book are really good as well. When it comes to out professor I would have to say he is a pretty cool guy. Definitely teaches in an orthodox style, which I appreciate. He tries to pull away from just the textbook and lecturing. Instead he uses interactive teaching methods and hands-on activities to demonstrate the concepts that will be addressed in the book. Professor Diasio really loves what he does and I respect that. He manages to pull everyone out of their comfort zones but only for the best. At first I didn't really like it but after some successful exercises like the 'Swoosh' game I found that the magic happens outside of my comfort zone. Diasio manages to spice up the class every week. We never do the same two things in consecutive weeks. I must say I appreciate everything he has done for us in keeping the class exciting. Now, when I enrolled in GEB 4890 I really did not have any expectations. I was just hoping that I could learn the material individually, take some exams, write a paper or two and be on my way. However, Professor Diasio had a different agenda in mind. On the first the day he mentioned a semester long group project and I immediately was hesitant. But fast forward about 11 weeks and I couldn't imagine being in a different class or even being in a different group. The project he arranged with The Moorings was an interesting one. It has challenged the way I think in terms of how I approach problem solving in a group setting. In terms of the actual project I felt that it has been prolonged. Much of the beginning research could have been constructed in one week. I feel like more focus on developing the strategy would definitely help in the future. Also, the group size should be cut down. There were sometimes during the project that some of our group members had nothing to do simply because all the tasks were distributed and there was literally nothing for them to do. Working with a legitimate company has also been a great experience. The only issue I have with the class is the fact that I really felt as though we were doing all of the Research and Development for The Moorings. We are basically showing them how to market to us. All the ideas we come up, even if the group doesn't win we must submit a booklet and present our strategies without any type of compensation. We are really doing the brunt of the work for them without any promised position or anything. All of our ideas are intellectual property and we are just giving it away for essentially nothing except experience. In essence nothing tangible is being promised. In the future I believe the next company should guarantee a position of some sort be it an internship or part time gig. As far as the structure of the class, with the modules and assignments I'm pretty neutral on those subjects. In conclusion, I truly enjoyed the class besides the whole intellectual property issue. The whole idea and concept of presenting to a company was well thought out. This course has proved to be a great Capstone class in the College of Business at USFSP.
Shannon’s Course Sentiments Where to begin, that is the question. When I first signed up for this course I did what every usual educated student that knows the school system does; I looked at my graduation requirements, did a class schedule search, researched the course a bit, asked around and lastly checked out Rate My Professor. Some people might not agree with Rate my Professor but I find it to be the best college professor reviews and ratings source around, all the material is based on student feedback and who takes these courses ‚students‛. You obviously take everything you read with a grain of salt, mind you this could just be a rating from a distressed student who felt as if he was treated unfairly when in reality he was the class slacker that slipped through school by the seat of his pants and when finally discovered received a bad grade. Anyway that is neither here nor there, back to the topic I didn’t find much on Rate My Professor, but I knew this class was a grad requirement and I needed to take it this semester so I signed up. I had no idea what I was in for or what to expect. Some courses you slide by with very little work or research, some you study a lot and are tested weekly, some are strictly all on line, some involve no interaction with the teacher or students, some you read chapters a week, some you even take trips like to the Dali and then there is this class. This class has been a mixture of almost everything. I find this class to be interesting, fun, challenging, intensive, and mainly educational. I have learned a great deal throughout this course, our research, book and class presentation and expectations. I had no idea what I was in for and nor did I expect to get out of it as much as I have. Granted I do feel our class project is quite intense and requires a lot of in depth work, I also find it enjoyable and challenging. If everything was easy we would all be successful in this world right?! ‚Don’t limit your challenges, challenge your limits‛. My professor Stephen Diaso has a very unconventional, strange and original way of going about his class presentations and interactions amongst his students. He pushes the educational threshold and brings about new learning experiences. At first one might think, wow this guy is different, but after a few classes your perception changes. You realize his quirky way of going about things is actually inspiring. He pushes the boundaries and no success or greatness was ever achieved by remaining neutral, complacent or unchanging. I liked our class circles, groups and presentations. I like his feedback and I respect his compassion for what he does. He truly walks the walk of a caring teacher that is inspired by change and others and wants to showcase that to his students. His class exercises are designed for us to step outside our comfort zones, push our natural means of communication, and get into our own groove per say. He wants us to think outside the box, challenge ourselves, and develop new learning processes and techniques. I can honestly say he has left a mark on my college experience. There are some teachers you remember years down the road and he will definitely be one of them, not to mention the project and friendships developed throughout this semester. This project has been quite intensive to say the least. Our group has six members all ranging in age, personal life situations, degree choices and careers. We have all had some type of group project in our college or work lives that have left us aggravated and regretful. I can say this won’t be one of those for me. My group is dynamic, fun, and truly awesome. There is a better word for awesome I am sure, but that’s the one that comes to mind for me here in this particular situation. I have thoroughly enjoyed our group meetings and time spent making this presentation come together. Given our completely different schedules and lives we have all managed to negotiate times and travel to work together as a team. Some weeks more intense than others, some weeks one group member might not have any work and the next they have the brunt of it. We all have our own ideas, thoughts and perceptions of what should be our end product, but we have learned the true meaning of cohesiveness and making several ideas become one. I have many more positive things to say about this group, our opportunity with the Moorings, and of course Dr. Diaso but I will leave it with this; I am thankful I took this course for my second to last semester at USF. I have learned a great deal and will take all this knowledge with me to accomplish more. I will hopefully keep in touch with the group members that turned into friends and I look forward to what is left to come. My group and teacher have all inspired me in one way or another and that’s what life is all about. We bounce ideas and experiences off each other and continually grow, change and adapt. ‚What we learn becomes a part of who we are, and wisdom comes not from age, but from education and learning‛. –Anton Chekhov.
Mandy’s Course Sentiments Like all students, I took this class as a requirement for graduation. This has been hyped, for the past two years, as the class that will bring all our other classes together in one comprehensive learning unit. This is a lot of pressure to place on one professor. They would be required to know the ins and outs of management, marketing, accounting, finance, and economics among other classes. Not unexpectedly, the class didn’t really cover all aspects of the school of business. Instead, as the title of the class implies, the focus was on management and marketing. I did see some information from other classes in the book, but it was generalized. In that respect, perhaps this should be a class requirement at the beginning of roster instead of the end. There were definitely touch points for finance, economics, law, and general business concepts. Students could use this class as a broad stroke of information; then, they would get the depths from their individual classes. However, the text book was a small part of the overall class. The greatest impact for this class was the marketing assignment from the Moorings. They wanted the students import on how to sell their product to a new marketing base. There are many pros and cons to this approach. Both students and future employers all agree that current teaching practices do not ready people for the job market. There is a distinct disconnect between what is taught in classes and what employers expect employees to know. Many times I have wondered why classes are not taught in more practical ways. The few times I have had professors try to incorporate real life situations, they too find that students do not know how to incorporate the supposed knowledge they have accrued from books into actual concepts. That being said, I am glad that Professor Diasio is exploring new ways to learn into the classroom. More than anything, this assignment has shown how different groups can take the same assignment with the same criteria and produce vastly different results. Each group focused on what they perceived as the most important goal for the Moorings. Most groups started with the same general research information about the Moorings, the luxury yacht industry and the millennials as a whole. Yet, how they interpreted that information into their projects was distinctly different. In some respects this project showed us how to do research and build a sales pitch. More importantly, it showed us how the same data can be interpreted by different people. In a real world environment, sometimes how information is communicated and received is the most important part of any job. Thankfully, my particular group worked well together. We were all willing to contribute our ideas and listen to the others until we formed a cohesive group project. The hardest part of any scholastic group project is time. When working in a group at work, you already have the timing to work on the project. More than likely, the people in the project are stuck in the same building for at least eight hours a day. In the case of school, however, we all have different schedules with work, school, families, etc. I found this much more difficult to maneuver than any group project at work. I have never worked on an international assignment, so there may be a future time when vastly different time zones will have to be worked around. I think this new type of learning experience needs to be developed and explored. I’m sure there will be a lot of debate on which type of learning is better; strictly book learning or more application based learning. Only time will tell which type learning is better. The true test will be the way the future employers perceive the new graduates. If they have more of the practical knowledge the employers are looking for, then this learning style should be expanded into more classrooms.
Robert’s Course Sentiments I would describe this semester of Strategic Management as an interesting experience. I have learned different approaches to business strategy that I had not been exposed to before. It has been very interesting to see that an entire class comprised of 6 groups working on the same overall idea can come up with so many different strategies for accomplishing the same goal. Every group is working on ways The Moorings can improve and take a hold of a market that has been weak for them in the history of their business. They know that there biggest source of revenue is the Baby Boomers, but in order to succeed in the future they will have to evolve. TheMoorings know that going forward they will have to come up with different strategies to target the up and coming millennial market which will eventually take over the Baby Boomer Market. There have been several similar ideas throughout the groups in the class, but each group has framed those relative ideas in a different way, which makes it exciting. There have also been some unique ideas by several groups which if the Moorings chose to utilize could benefit their business. I thought the exercise we played in the one class with the red ball, red bull, and blue ball was entertaining and showed that communication is essential in the business world, especially when working in groups and in our jobs. We all utilize email and other electronic means of communicating, but face to face communication will always be more personal and many times more effective than that of electronic communication. The exercise also showed that chaos can be an effect of miscommunication. Things can be confused when there is too much going on, and you must take extra consideration into not becoming distracted by the many different forces that are thrown at you. You must always be focused on what is important and the things that you want to achieve going forward. Overall, I think this course has given me some way of reflection as to how there are so many ways of approaching life and work, and that there is never just one strategy that can be the one that makes us successful. We all have different ideas and ways about getting what we want and it’s our job as motivated people to continue to expand our knowledge and understanding in our business and personal lives.
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MISSION COMPLETE.