
Project scope
Categories
Product management Market research Competitive analysis Product or service launch Marketing strategySkills
market positioning innovation strategy target audience strategic planning market trend market analysis competitive analysis product improvement innovation management market researchTropix, a company known for its diverse range of products, is seeking an innovative strategy to enhance its current offerings. The goal of this project is to develop a comprehensive innovation strategy that aligns with Tropix's brand and market position. Learners will analyze current market trends, customer feedback, and competitor strategies to identify potential areas for product improvement or new product development. The project will require students to apply their knowledge of market analysis, strategic planning, and innovation management to propose actionable recommendations. By the end of the project, the team will have developed a strategic plan that aims to enhance Tropix's product offerings, ensuring they remain competitive and appealing to their target audience.
The deliverables for this project include a detailed innovation strategy report and a presentation summarizing the key findings and recommendations. The report should outline the proposed enhancements or new product ideas, supported by market research and analysis. Additionally, a strategic implementation plan should be included, detailing the steps Tropix can take to bring these innovations to market. The presentation will serve as a concise overview of the strategy, highlighting the most critical points and expected outcomes.
Providing specialized, in-depth knowledge and general industry insights for a comprehensive understanding.
Scheduled check-ins to discuss progress, address challenges, and provide feedback.
Supported causes
The global challenges this project addresses, aligning with the United Nations Sustainable Development Goals (SDGs). Learn more about all 17 SDGs here.
About the company
Tropix is a food company based in Brampton, specialising in Jamaican Coconut Drops, a snack made from fresh coconut with only 4-6 simple ingredients. Our Coconut Drops are vegan, gluten-free, and contain no preservatives, artificial flavours, or colours. We are proud to be the first company in Canada to commercially produce Coconut Drops, offering five flavours: Classic, Ginger, Cranberry, Chocolate, and Pumpkin/Sunflower Seeds. Our products are currently available in a variety of grocery and gourmet stores, gift basket companies, and at the University of Toronto, Sheridan College, and Freshco stores across Canada.