Week 4: Wednesday 19.10.16

Today, we conducted a focus group consisting of six people who showed an interest in our product. These people were students in our age (18-22 years old), and our questionnaire was based on the products we chose to have a go with, to see if there is a market out there that would potentially be interested in our products.

After evaluating our different ideas, and discussing them all between us, we decided to try and go for the cute, adorable handbags. These will be combined with coin purses, which are also cute and shaped like cookies. We are thinking of selling them separately, but also do a small collection with a key chain for a great price. Our ideas are quite vage at this stage, but we will figure out how we will do things eventually. But first, we need to carry out a questionnaire to receive responses from people who could potentially be our target market.

The questions we asked, was based on their age-group, demographics, interests, if they are using a handbag and coin purse, or where they would be likely to use them, how much they are willing to spend, and what their most important factors were when buying a new product. In the end, they had different options of designs to choose from. This helped us in deciding which product we were most likely to purchase from the suppliers and sell them to our market.

#entrepreneurship #businessproject #focusgroup