Today in a combination of in class
but mostly out of class I finished two sections in the larger marketing
section. The two that I completed include, The Promotion section and the
Service/Product section. The promotion section has to do with the product and
how to promote my product. I figured that because I am selling into a franchise
my marketing ability does not have to be as strong as if I was selling each
individual unit. However, I still have to connect with my consumers and make
sure that they know that my product is available and how it works. To do this I
have figured out multiple ways to convey this message. Fist, is even though my
product is built into the lid I will put an additional label on the coffee cup
with instruction about, what the Safe Sip is, how it works, what it does, and a
link to our website for more information as well as the selling of other
product through that website. The second major section had to do with the
product itself and what the time frame of this business looks like. I mention
the timeframe of when I produce my final prototype to the time of retail sales.
I mention possible revenue and margin and future products. I mention basic
competitors and how my product will out play them. Overall, after completing
these last two sections I have found that business plans are very repetitive as
well being detailed. For me it is hard to determine the details because I need
to think at many more aspects of this company than one might original think. It
is hard to run a businesses that has not been set in stone yet. However, even
though it has been very difficult to complete I have been learning a lot about
myself and about business than I had originally expected.
PS: still waiting on Ida
No comments:
Post a Comment