Project Title: LaCoBros: Research & Development

LaCoBros

Details
Project Title LaCoBros: Research & Development
Project Topics Growth Strategy Marketing Product Design & Development Research & Development Sales & Business Development
Skills & Expertise
Project Synopsis: Challenge/Opportunity
LaCoBros is a small family business of brothers. We have currently developed 3 products within the Wraptor brand; a lifting tool, a unique construction glove, and a specialty drywall tools bag. 

Currently, we are selling our products on Amazon, our own website, and through a distributor. The company's 3 year plan is to grow to 5 million in gross revenue with a 35% profit margin across the portfolio of products. We aim to build a portfolio of 15 products with an average selling price of $40 per unit. 

The primary consumers are carpenters, construction workers, and contractors. To view all of the products and webpage, please visit: www.wraptorclaw.com
Project Synopsis: Activities/Actions Required
Project Objective:

1. Find a category of products that the company can
manufacture and sell to our core customers to reach our
revenue goals.

2.Do market research to verify that there is demand for these
products.

3. The products need to fit into the marketplace in a way that
allows our products to be differentiated from competitors
products in a way that customers will want to buy from us.

4. The two product categories are safety products and products
for younger carpenters, contractors, and tradesman.


A. Safety is a major concern in the industry
and contractors are willing to pay for products that increase
jobsite safety, reduce injury, and allow workers to leave at the
end of the day the same way they showed up to work.

B. The construction industry has an aging workforce
and the new and younger workers don’t have products to buy
and pick from that are much different than what has been on
the market for decades. For this option we need to create a line
of products for the younger, more tech savvy, and less
knowledgeable worker. 
Project Synopsis: Expected Results
We are looking for students to work on this project who are eager to learn more about the construction industry, and can conduct market research and find a category of products that the company can sell, in order to reach revenue goals. 

Project Timeline

Touchpoints & Assignments Date Type

Industry Capstone Program Application Details

Aug 11 2023 EST (UTC-05:00) Project Milestone

Industry Capstone Program Webpage

Sep 01 2023 EST (UTC-05:00) Other

First Day of Classes & Academic Calendar

Sep 01 2023 EST (UTC-05:00) Project Milestone

Stevens Brand Guidelines

Sep 01 2023 EST (UTC-05:00) Other

September 2023: Initial Student Evaluation #1: FOR ALL STUDENTS

Oct 03 2023, 23:59 PM EST (UTC-05:00) Evaluation

Midterm Presentation Submission

Nov 10 2023, 23:59 PM EST (UTC-05:00) Project Milestone

Student Temperature Check

Nov 10 2023, 23:59 PM EST (UTC-05:00) Evaluation

Final Presentation Submission

Dec 22 2023, 23:59 PM EST (UTC-05:00) Project Milestone

Industry Mentor Post-Engagement Team Assessment Form

Dec 22 2023, 23:59 PM EST (UTC-05:00) Evaluation

Student Post-Engagement Self-Assessment Form

Dec 22 2023, 23:59 PM EST (UTC-05:00) Evaluation