MSM Students Complete Consulting Project for Nairian CJSC
YEREVAN, Armenia — The American University of Armenia (AUA) is happy to share that students of the Master of Science in Management (MSM) program have successfully completed a consulting project for Nairian CJSC, the first Armenian all-natural cosmetics brand founded in 2012․ The aim of the project was to assist Nairian in launching a new product line for men by proposing a marketing mix plan.
Within the scope of the project, the MSM students conducted market research on male grooming products in Armenia and Russia, including pricing, points of sale, and positioning. To complete the target market analysis, they collected and analyzed customer-related data on respondents’ age, interests, lifestyle, factors behind the decision-making process, products they use, industries they work in, where they shop, and others.
According to the students, the capstone consulting project with Nairian was both challenging and interesting. They used this unique opportunity to apply the knowledge they accumulated during the MSM program into practice. The most valuable takeaways for the students were developing and sharpening their skills in problem-solving, teamwork, critical thinking, time management, and communication.
“The whole process, from implementing consumer research to developing a marketing plan, took four months and was realized in cooperation with Lilith Martirosyan, marketing director at Nairian CJSC. During the final presentation, the results and recommendations were presented to the company management and a discussion followed. For the students, it was an experience of total application and immersion in the intricacies of marketing and an opportunity for the business community to capitalize on the resources we have here at AUA. It is always a pleasure to see our students participate actively, achieve great results, and contribute to the competitiveness of an Armenian business,” remarks Dr. Theofanis Varvoglis, the supervisor of the student team.
The MSM students received very positive feedback from Nairian. Although it was not the first instance of collaboration with the company, this consulting project allowed for a longer and deeper cooperation between AUA and Nairian within the framework of the capstone project of the AUA Manoogian Simone College of Business and Economics (CBE).
“We are very much satisfied with this collaboration and would be happy to continue working with AUA CBE students on smaller or bigger projects. This allows us to have ‘fresh ideas,’ while providing the students with the opportunity to be ‘inside the company,’ in the actual world, and apply their academic knowledge to a specific case in a real context,” notes Martirosyan.
Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.