- Project status
- Project start date
- Not specified
- Project posted
- 18 May 2016 00:33
- Project duration (approx.)
- 4.0 Days
- Budget (approx.)
- US$1200 / day
- Consumer Goods
- Area of expertise
- Analyst / Research, Product Development, Big Data / Data Analytics
- Consultant location
Objectives and Key Deliverables
OVERVIEW: We are a toy company. This project is to analyze our new product introduction results. Leverage our financial data for products introduced 2011-2015 and compare to pre-2011 products. Pay attention to both revenue and profit; where relevant, note where we have been more profitable versus generating more revenue.
Use our data to attempt to answer the following questions:
1. Is our company doing well? Use our new products (new in the last 5 years) to analyze the answer to this question. Explain with data.
Some questions to consider in answering this question:
a. Have we been growing since 2011? If so, in what ways?
b. Have we been stagnant (or shrinking) since 2011? If so, in what ways?
2. Are we launching better new products every year? (Consider this in terms of revenue, profit, and development costs.)
a. Research benchmarks to find out how long products should last in specialty and mass toy markets. Can you tell if our new products have a life at least as long as what is expected in the specialty or the mass market?
i. If our new products are not lasting as long as they should, what trends can you see in those “dogs” that would help us better avoid developing those going forward?
ii. Are some brands/categories poor performing compared to others?
b. Why have we not had enough hits?
i. Do some brands/categories have unexploited potential?
ii. Is there a commonality between the dogs versus the wins that can help us do a better job of predicting wins or dogs?
3. We are looking to grow as aggressively as possible. Please make suggestions for how the data indicates that we could grow faster as a company.
a. What are some areas of risk that are indicated for us to take in order to grow?
b. Can you help us to understand the optimal sku count that we should be introducing every year?
4. Compare our top 20 skus that sell into these four categories: 1. Mass 2.Dot.com 3.Specialty, 4. Education. Are there commonalities (or important distinctions) among successful or unsuccessful products in these markets?
5. Are there other ways we should be analyzing our sales data?
For example, some products appear to hit their peak in the second or third year after they come out. In that case,
a. Would it be better to look at sales data in two- or three-year groupings, rather than as a single year? If so, for which brands/products should we be doing this and why?
b. Are there patterns in terms of which products behave this way? What information can be gleaned from that?
c. Should that information affect sales, marketing, or product development efforts?
The above is one example. Are there other ways we should be analyzing our data?
6. If time, look at ALL of our PRODUCTS (not just new-since-2011 products), to see if other information can be gleaned for new product development.
7. Please suggest other questions or ways to analyze the data.
We will provide all of the data to use in the analysis. This data will include all of our product revenue, quantities sold, margins, unit costs, and development costs since 2011.
Submit financial analysis to us with explanations of your method as well as your conclusions and suggestions.
Timeline: early June meet with us to review financial data and our brands
• Mid July—first analysis submitted
• Late July—Additional analysis submitted
• Late August—Final analyses submitted with conclusions and suggestions
This is a very part-time project, and consultant will only be needed approximately 1-2 days per month.
We would prefer someone with experience in the toy industry.
Consultant should demonstrate financial analysis expertise and have experience in strategy.
Should be available to communicate to client during US PST (Pacific Time) hours.