Monday, August 26, 2013

Thursday 08/08/2013


Thursday 08/08/2013

 

As an entrepreneur you are faced with many different situations, and having been exposed to an exhibition environment you tend to learn that people may have different opinions regarding your product. In such cases you need to open for some criticism. That’s the only way you learn to refine your product to suit customer needs.

 

In terms of preparation you need to realize that no matter how much one prepares one can never be fully aware of what the outcome will be on the day. In such cases one has to learn to react to the situation and make best of what is available to you, a sense of bricolage is what is required.

 

 Operating in a student environment a product that is not complicated in its functionality would be a better sell.  This was evidenced by the number of sales achieved by teams with simpler products suited to the student market. Fashion requires a person who is already a fashion icon who has a legible brand which has equity amongst potential customers to promote the brand, and this was probably the best way to sell a fashion item. Simply promoting a products’ functionality and expecting high return on sales was not a viable strategy considering the environment that we operate in. One could say the simpler the better.

 

This was evidenced in the reaction from customers. The biggest critic being that as functional as the product is, it really does not make a girl look fabulous. This is one area we need to address as a group if this product will be viable in market,

 

However with all that said the greatest lesson learned as an individual would be the active engagement with customers. No matter how viable and practical the product is, it is up to the entrepreneur to sell it. This is when you realize what it means to Always Be Closing.

 

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