Market Validation Study - Vaquita Inc.

Closed
Main contact
Vaquita Inc.
Calgary, Alberta, Canada
austine aghenta
Chief Growth Officer, Vaquita Inc.
1
Project
120 hours per learner
Learner
Canada
Intermediate level

Project scope

Categories
Competitive analysis Market research
Skills
market opportunities brand positioning cultural tourism market research new product development
Details

Vaquita is registered in Canada, and we are currently participating in a BC-based incubator program to grow and scale our business. We have conducted initial market research to define our early adopters and target customers but are now looking to take a deeper dive into the Canadian market and the competitive landscape, as well as understanding how to best engage with our early adopters.

Our target customers are young individuals who have interests in travel and cultural tourism, regularly stream videos on mobile or web, and are comfortable with online payment transactions, and largely located in higher income countries across the globe.

As part of our initial market research, we carried out a survey to help confirm the perceived early adopters for our product in Canada. While the results were positive, there is a clear need for us to narrow down further and further understand the needs of our early adopters (15 to 35-year-olds who travel locally or internationally, at least one a year).

Deliverables

We are looking for students to help us better quantify the market opportunity in Canada, while also developing a better understanding of our Canadian early adopters.

Students are expected to carry out the following tasks:

· Creating and administering surveys to our target customers and early adopters

· Contacting early adopters to participate in market research study

· Analysing feedback and extracting key insights to aid in product development

· Provide recommendations for product development and brand positioning based on the competitive landscape and industry size

Successful outcomes include development and delivery of a market research report which should describe:

  • The characteristics of our early adopters and early majority and tips on how to serve them
  • Industry size and market potential
  • Competitive landscape
  • Strategic positioning of our brand and product
Mentorship

Students will work closely with the Chief Growth Officer who is supervising the market study. This will also include occasional progress meetings where adjustments to the students' tasks and duties can be made if necessary.

About the company

Company
Calgary, Alberta, Canada
2 - 10 employees
Education, Travel & tourism

Vaquita aims to become a preferred guide for cultural heritage tourism and learning, particularly across the African Continent.
It provides an online platform that connects intrepid travellers with different cultural heritages online. It does this by 1). Offering online courses on different cultural practices such as ancient rituals, dancing, cooking and language, organizes events to introduce local and ancient cultures to travellers, and 2). Providing a social media platform to connect travellers and people interested in different cultures.
Although Vaquita is a social startup, it is expected to partner with and enjoy non-monetary support from cultural organizations and governmental bodies, while providing a lucrative business opportunity for investors.
Vaquita is registered and located in Canada, and we are currently participating in a BC-based incubator program to grow and scale our business.