This has been a pretty slow week for me. We toured the production facilities where all of our products are made on Wednesday. This was awesome to see our products go from raw materials all the way to a finished product before we left the plant. Then on Thursday we received our large intern project for the summer. We have been tasked to come up with a way, using multi-level marketing, to increase our direct to consumer selling. The reasons for trying to increase our direct to consumer business is the margins that we can receive by skipping the middle man, such as GNC. Throughout the project we will be working to satisfy the following topics:
- What is your new MLM brand?
- What consumer group(s) does your brand target?
- Are there unmet needs within MLM sports nutrition? Where is there opportunity to differentiate?
- What would your initial product line be? How would it be priced?
- How will you attract/incentivize/retain reps?
- What policies or processes will help ensure that the MLM brand upholds GPN’s reputation (i.e. no unethical behavior or bad PR)?
- What would your estimated P&L look like for the first 3 years?
This will be a great way to test the skills I have learned at MSU and develop new skills for the future.