Final Exam Part 1 Case Study Essay (1)

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Purdue University, Fort Wayne *

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Marketing

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Feb 20, 2024

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Final Exam RedShelf Case Study Fall 2022 Let me introduce you to our client – RedShelf As a distributor of educational digital products, RedShelf was founded with the objective of improving education through product innovation ("RedShelf Company Website," 2018). They provide a digital platform accessed by readers and publishers to share, distribute, and acquire eTextbooks, academic papers, and other digital documents ("Company Overview of RedShelf, Inc.," 2018; RedShelf Profile , 2018). Their primary markets are U.S. higher education institutions, campus bookstores, professors, and students. RedShelf has built its business model by collaborating with partners, publishers, institutional bookstores, higher educational learning management systems, and content creators. Noted strategic partners include Akedemos, a company that owns and operates online bookstores ("Company Overview of RedShelf, Inc.," 2018) and Nebraska Book Company, a leading provider of products and services to over 2,000 independent colleges ("RedShelf Company Website," 2018). Hear directly from the CEO 1 | P a g e

Founded in 2010, the RedShelf (known initially as Virdocs) was the creation of its two founders, Greg Fenton (CEO) and Tim Haitaian (CFO). Several years before, as students, they observed firsthand the spiraling upward costs in textbooks and the emergence of e-readers. They knew there had to be a solution that provided all the benefits of a printed book but leveraged digital printing's early growth. With the encouragement of their professors and initial potential investors, RedShelf was born in Chicago. By March 2018 had grown to more than 1 million users (readers) and offered over 500,000 digital titles ("RedShelf Company Website," 2018). Today they employ over 60 people in their Chicago and west coast locations ("RedShelf Company Website," 2018). The following is a visual description of RedShelf's role in the emerging digital textbook industry: 2 | P a g e

Greg Fenton, the CEO, sees two major trends impacting higher education learning over the next years. "I believe there are two primary trends that will be changing how we learn over the next few years, the first being an increased focus on the collaborative classroom. We've already seen institutions testing the flipped classroom setup, and we're going to continue moving in that direction. Integrating the student's voice into the classroom will be even more important than a singular professor. The power of analytics and data in the classroom is the second trend I see morphing the way students learn. As we continue to advance the way we track, aggregate, and analyze data, we'll be able to determine not only how students are interacting with content but also how they're engaging with their peers and professors and how well they understand the information. This type of insight will allow universities and professors to adjust their teaching methods in real-time instead of measuring results at the end of the semester based solely on a graded output." Greg Fenton, CEO RedShelf Greg Fenton has set a goal of achieving $1 million in profit within twelve months (remember our Marketing Math example). But he believes that RedShelf can double that profit ($2 million) by selling 1,000,000 textbooks or $75 million in revenue annually. Greg also knows that that lofty goal cannot be reached through organic sales and growth (just doing more of what they are doing today) and without rethinking RedShelf's business model, products, and marketing. He has turned to his CMO and Head of Product to provide him with potential options to meet the goal. They are turning to you as marketing consultants to help them. What strategic decision is facing Greg Fenton and RedShelf? 5 points 3 | P a g e

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What is RedShelf’s current business model (refer to up diagram and videos)? Please explain in a paragraph. 5 Points Looking outside of RedShelf, what factors support RedShelf's goal? And are there factors that may pose a risk to meeting the goal? 5 points Using the product-growth matrix you learned about in Chapter 3, in one or two sentences per box explain the four different strategy options available to RedShelf. 10 points Choose ONE of the strategies you identified above and provide a marketing or product recommendation. Provide enough detail so RedShelf can understand what you are recommending and why you believe it will help them meet their goal. 10 points How would you implement your recommendation at RedShelf? 10 points Professionalism in Writing 5 points Submit your write-up on a separate WORD Doc. Ensure your answers are thorough yet concise (this is an essay, not a term paper). Professionalism counts as if you were sending this directly to Dina, RedShelf CMO. Write in full sentences and paragraphs and pay attention to grammar and spelling 4 | P a g e

In Brightspace description: During the semester you read and analyze case studies from different organizations in different industries. You were able to see the various issues that marketing helps address. in addition, this semester you have heard from executives and how marketing applies to their company and industry. I thought we would end the course with one more case study - RedShelf. Please read the case and the questions as a guide to write a short paper (2 to 3 pages, space 1.15) recommendation for RedShelf. The questions are to help you formulate a well-written, senior management paper. To provide you further guidance, a grading rubric is attached. 5 | P a g e

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