Month/Year of Graduation

5-2019

Degree Name

Bachelor of Science (B.S.)

Department

Economics

First Advisor

Dr. Erin Pleggenkuhle-Miles

Abstract

STARS Dance Academy has been experiencing stagnation within the last several years of operation. Although the dance studio industry in the United States is growing at 3.5% annually, and is expected to reach $4.1 billion by 2023, STARS is having trouble standing out from the intense studio competition in the highly saturated Omaha market. As there are low barriers to entry, and the popularity of dance is attracting new competitors, it is crucial for any dance studio to have a strong brand reputation and loyalty among its current customers. STARS has struggled for the last 10 years to embody their current mission statement, which has become outdated. The studio lacks a cohesive message that compliments its current operations. In order to achieve and maintain a competitive position, SDA must differentiate themselves from the rest of the dance studio industry in Omaha. Through the industry analysis, internal business evaluation, and problem identification in this report, a strategic recommendation has been formulated and offers a solution for the current situation of STARS Dance Academy.

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