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Essay / Kiki's Case Study - 1018
In addition, they will also establish a mission statement for the niche and evaluate the cost of additional actions to be considered. For example, they should consider new strategies to attract new subscribers, strategies to increase renewal rates, and strategies to expand their geographic segmentation. Some ideas for increasing new subscribers include increasing research on rising generations to be collected every five years to understand its new consumers and their demand. By understanding the new generations, the company will be trained in the market and will be able to ask the right questions and deliver quality products. Additionally, Kiki could increase its renewal rate by creating a new niche where it creates a new target market and adapts to their demand. For example, they could create a niche where they focus on 15-20 year olds and maintain the company's philosophy of inspiring young teenagers to aspire to a great future and dream big. They could achieve this by covering the topics of college, real life scenarios, fashion trends and how to create their own style and self-awareness which will increase their self-esteem. self. Finally, the company could expand its geographic segmentation by expanding into the global market.