Retail, branding and logistics: presentation of student projects at RANEPA
Students of the Faculty of Economic and Social Sciences (FESS) and Germany’s Hochschule Fresenius University have presented three business projects to DeLonghi Group CEO Mikhail Pokrovsky and the company's management at RANEPA.
The students had worked on their projects for four months. The RANEPA FESS group included 19 3rd and 4th year students; the German project team included 10 people led by their dean, Dr. Martin Kreeb.
The first project, DeLonghi’s Interaction with Russian Retailers, was aimed at analyzing the domestic and foreign experience of such relations and proposing liaison models and a new pricing system, which would be better from the economic point of view.
The second project was aimed at developing a strategy for promoting Braun ironing equipment. The project teams were required to work out ways to increase brand awareness, then substantiate the hypothesis of the ironing systems’ high value for customers. Finally, they were to plan a number of specific steps to maneuver the brand out of ‘price wars’ and into a niche with moderate competition.
The third project involved using Process Mining – specific data science methods – to study the business processes at DeLonghi logistics department. The teams performed algorithmic analysis of logs from the company's database to visualize the business processes at the department, including detecting infrequent but significant deviations from the accepted business model, and eventually draft proposals for optimizing part of the processes and improving the data storage system.
DeLonghi Group CEO Mikhail Pokrovsky noted that the company was pleased with the students’ work. “The Academy’s school seems to have quickly mastered the cutting edge techniques such as Data Mining, Process Mining, and Big Data, essentially enabling the students to do research at the consultancy level. We have developed a full-fledged cooperation: the company’s leading employees including the chief executive deliver educational courses at the Academy, while RANEPA students develop the projects we need. During the next academic year, DeLonghi Group will offer them another 4-5 new topics for research,” he said.