Market Research and Analysis for Sol Harmonics Sound Wellness

Closed
Sol Harmonics Sound Wellness
Calgary, Alberta, Canada
CEO
(3)
3
Project
Academic experience or paid work
120 hours of work total
Learner
Anywhere
Intermediate level

Project scope

Categories
Market research Competitive analysis Customer segmentation Marketing strategy
Skills
target audience competitive analysis marketing primary research market positioning secondary source information marketing strategies market research surveys pricing strategies
Details
  1. Conduct comprehensive market research to understand the demographics, psychographics, and preferences of our target audience.
  2. Analyze competitors' marketing strategies, product offerings, and positioning to identify strengths, weaknesses, opportunities, and threats.
  3. Provide actionable insights and recommendations based on the findings to inform our marketing and business strategies.


Deliverables
  1. Market Research:
  • Gather data on target audience demographics, including age, gender, location, interests, and behavior.
  • Conduct surveys, interviews, or focus groups to gain insights into consumer preferences, needs, and pain points.
  • Analyze secondary sources such as industry reports, market studies, and academic research to supplement primary research findings.
  1. Competitor Analysis:
  • Identify key competitors in the wellness and meditation industry.
  • Evaluate competitors' product offerings, pricing strategies, distribution channels, and marketing tactics.
  • Assess competitors' strengths and weaknesses and identify areas of opportunity and potential threats.
  1. Insights and Recommendations:
  • Synthesize findings from market research and competitor analysis to identify trends, opportunities, and challenges.
  • Develop actionable recommendations to enhance Sol Harmonics Sound Wellness' market positioning, product offerings, and marketing strategies.
  • Present insights and recommendations in a clear and compelling manner, supported by data and analysis.


Mentorship

$1400 Stipend paid through LevelUp Riipen program.


  • Access to relevant industry reports, market studies, and research articles.
  • Templates for surveys, interview guides, and data analysis tools.


Supported causes

The global challenges this project addresses, aligning with the United Nations Sustainable Development Goals (SDGs). Learn more about all 17 SDGs here.

Good health and well-being

About the company

Company
Calgary, Alberta, Canada
2 - 10 employees
Hospital, health, wellness & medical

Our company specializes in providing innovative wellness solutions, focusing on sound bathing therapy. We aim to help white-collar professionals improve their mental and physical well-being by offering sound bathing sessions that reduce stress, enhance sleep quality, and promote overall relaxation. Our services include virtual and in-person sound bathing sessions, workshops, and corporate wellness programs designed to integrate seamlessly into existing health and wellness benefits.

We believe in the power of mindfulness and alternative medicine to create a healthier, more balanced work-life experience. By targeting individuals who spend long hours at their computers and struggle with sleep and exercise, we provide accessible and effective wellness options that can be easily incorporated into daily routines. Our mission is to bring the benefits of sound therapy to the corporate world, improving employee well-being and productivity through innovative and holistic approaches.