Is It Now Time to Scale Mjini’s Operations?
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Is it now time to scale Mjini’s operations?
In order to understand If Mjini must scale its operations or not, we need to first understand the context that they are in. We can do this effectively by conducting a 5Cs analysis of the market.
Company: Mjini was started by 2 young entrepreneurs, Jeff and Patrick and the company is run with an entrepreneurial spirit. They are learning and making changes to their company and way of operating as they go along in the process. The company is a consulting firm that focusses on delivering solutions for the Urban market and they help companies steer their marketing and advertising campaigns in the right direction. Jeff and Patrick are the drivers of the research and work very well together. They understand the mind-set of the urban youth and hence can connect with them and get an unbiased response.
Context: The Urban market in the united states depended on the scope of the definition. A recent estimate measured the market at 45.3 million consumers between the age of 12 to 34 and accounted for $890 billion in annual spending. Other estimates put the market at 70 million consumers between the age of 14 and 24 and accounted for $300 billion.
Competitors: Depending on the scope of the company, the potential competitors were: Persuad Brothers, an integrated market communications firm, in New York; EE Productions, which did media research and communications, in Philadelphia and UrbanIQ, a research firm based in New York. Then there were the advertising agencies that marketed to minority audiences. But the market was much larger than the field of competitors present in it.
Collaborators: Research was at the core of Mjini’s business and given the nature of their research (Urban Youth), they had to rely on after-school programs and community centres in the seven cities they were in so that they could get the accurate information.
Customers: Customers for Mjini could be any company who wanted to conduct a marketing and advertising research campaign focused on the Urban youth. But to give their business to Mjini, the customer look for experience in terms of work performed for other companies (As mentioned in the case, “Need experience to get work and need work to get experience). They could perform research for Babson college, Converse Inc. and Brandname Jeans company.
From the 5Cs analysis, we can understand that the company has great capabilities in terms of research of the urban youth since they are in the same age group as them and can connect to the youth and make them feel comfortable. There is a huge market for research firms since companies want to understand the market for the urban youth.
As mentioned earlier, Mjini have a great advantage in this market since they can understand and connect with the target well and get precise results from the target. Apart from this, Mjini ensures that the different interviews or focus groups are done in the place where it is comfortable for the target rather than the person interviewing the target. This is another initiative that Mjini does to ensure perfect and unbiased results. Jeff and Patrick speak to the urban consumers to keep themselves updated with the current trends and happenings. This is another way get ask the right questions and get unbiased answers. These advantages of Mjini can help them get ahead in the