INTRODUCTION We, Catalyst Consulting, are here to analyze and compare Momenta’s current position to where the company strives to be in order to provide a solution that fulfills their three pillars of Personal, Professional, and Community. We will assess how Momenta can develop a strong brand image and reputation as a startup company. Our proposed opportunity statement is: ‘How can Momenta Marketing and Consulting pursue consulting as well as coaching opportunities, while building and maintaining a strong brand presence in the greater Vancouver area?’
ANALYSIS
INDUSTRY AND COMPETITIVE ANALYSIS Momenta Marketing and Consulting plans to expand into the business coaching industry in Canada. The industry revenue in 2016 was $990 million
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With these varying rates being offered for different coaching services, price-sensitive consumers can act adversely in the event of high rates. Successful managers can afford the services however, the majority of this market still recognizes affordability and perceived value from coaching as a priority. Willingness to pay can become an issue, especially if the manager is not gain insights through coaching that can lead to career advancements in the future. Young professionals are an underrepresented group in the pool of individuals receive coaching. There is an opportunity to capture this market, but it requires eliminating the barriers of entry that exist. Fulfilling this demand means clearing marketplace confusion on coaching services and its benefits, and creating an affordable and accessible product. Currently, the younger generation's perception of coaching is that it is not important in career or personal development, and therefore effective marketing should be implemented to alter this perception. Furthermore, students comprise another underrepresented segment. The large number of substitutes, lack of perceived importance, and price sensitivity are all barriers to entry. Despite charging at discounted rates, being able to build a younger client base allows them to capitalize on offering services to these individuals as they become the future professionals and