Business Diversity Strategy for Central Greenwich Village

Client: Central Village Block Association
Faculty: David Margalit and Mark Newhouse
Team: Ben Hayden, Scott Khamphounvong, Angela Sung
Year: 2005
Over the past decade there has been a significant change in the retail composition of the central part of Greenwich Village. Many of the mom-and-pop shops that once served the needs of local residents have been driven out of business. The Central Village Block Association (CVBA) supports a diversity of businesses as well as a diversity of clientele visiting businesses in the Village. This study presents a plan that is intended to increase business diversity and enhance the quality of life for its residents. The Capstone team’s business strategy includes: a market research report consisting of a demographic study, land use assessment and comparable analysis of neighborhoods similar to the CVBA’s; a business improvement plan centered on the marketing of Central Greenwich Village; and an organizational action plan to expedite and maximize efficiency of achieving its goals.