Answer the following questions based on the case and the interview:
• Case: I uploaded”Run the runway.pdf”
• Interview: https://www.npr.org/2017/09/21/541686055/rent-the-runway-jenn-hyman
This is NOT a research paper. Please listen to the interview and review the template that I uploaded( do not make any similarity)
Please also bold any class terms/concepts that are key to the logic of your answer.
Please restrict yourself to the information provided in the case and the interview. There are many articles about the company and these events in the news and online, but they are not relevant for the final. Evidence from outside the case will NOT count.
Provide evidence from the case and the interview to support the reasoning, not examples from other sources, companies, or life.
I discourage direct quotes from the case. A few quotes may be useful, but you can usually make the point more succinctly in your own words. You should definitely not directly quote or even paraphrase from readings other than the case.
Use only the terms/concepts from this class (including all the lectures, companies, and class discussions) to analyze the case. Do not base your response on your knowledge from other classes.
There is no need for an introduction, background, or conclusion. No outside resources. Please use the pdf I uploaded and the resources below:
https://www.sba.gov/
https://eiexchange.com
NPR Podcast: https://www.npr.org/podcasts/510313/how-i-built-this
7 Ways Entrepreneurs Drive Economic Development: https://www.entrepreneur.com/article/283616
The Global Innovation Index: http://global-indices.insead.edu/gii/
100 Best Websites for Entrepreneurs: https://www.forbes.com/pictures/fkjm45ikg/100-best-websites-for-entrepreneurs/#2b240f9737e1
The innovator’s DNA: http://knowledge.insead.edu/entrepreneurship-innovation/the-innovators-dna-1264
Manuel Sosa, INSEAD Knowledge, 2016. : http://knowledge.insead.edu/entrepreneurship/the-science-behind-great-product-design-4745
Kolko, Jon. “Design thinking comes of age.” Harvard Business Review 93.9 (2015): 66-71.: https://hbr.org/2015/09/design-thinking-comes-of-age
W. Chan Kim and Renée Mauborgne. “Want to Create a Blue Ocean? Avoid These Six Red Ocean Traps.” INSEAD Knowledge (2015): https://knowledge.insead.edu/strategy/want-to-create-a-blue-ocean-avoid-these-six-red-ocean-traps-4082
Magretta, Joan. “Why business models matter.” Harvard business review (2002): 86-92: https://hbr.org/2002/05/why-business-models-matter
Rediscovering Social Innovation, Stanford Social Innovation Review, 2008: https://ssir.org/articles/entry/rediscovering_social_innovation
Questions (Total 4 questions, total 20 points, each question 5 points)
1. Business model
a) Describe the two arguments the founders of Rent the Runway (RTR) used to persuade designer brands to become their suppliers. How did they come up with these arguments?
Your text here
b) Evaluate the business model of Rent the Runway (RTR) at its launch in terms of its value proposition, key partners, and customer segments.
Your text here
2. Positioning
a) How was RTR different from other competitors in the fashion rental business in terms of positioning? List at least three aspects and explain the differences.
Your text here
b) When the co-founders pitched their business concept to the designers, how did the concepts change over time? What enabled the co-founders to make the changes?
a) Can their business model be considered a Blue Ocean Strategy? Why or why not?
3. Diffusion
Evaluate RTR’s strategies in increasing its customer adoption. Are these strategies effective? How could they have done better?
4. Experimentation
What are RTR’s approaches to testing its ideas? Are they effective? Why or why not?
