Week 4: Sales

In general I learned to calculate finances ahead of time mainly because that’s what I was in charge of. In addition to that I learned from the Stitch group that packaging does in fact make a difference. I also learned from them that word of mouth is pretty strong and fast. I was surprised when I actually saw a person come up saying she was recommended the product by her colleges. As for things that were easy – nothing was. Some main difficult points would probably be figuring out the price of the product as well as lowering the costs of production. This was hard mainly because our product was so costly that it created negative profit to begin with unless we were to sell it for an outrageous price. Most of our sales came from acquaintances which is both kind of disappointing but at the same time was expected. That because said a customer that fit the profile of people we were trying to target bought a product. Although it was one person it showed that attempting to make our target audience clear payed off. As for things I would do differently along with doing finances ahead of time would simply be to do the rest of the planning ahead of time. This includes things like marketing, designs and even product testing.