In-Class work week of 12/1/2014

This week in class, my group got a lot of work done. For the $200 assignment, we decided on a product to sell. We ordered 65 water bottles that have the new Brookline Warrior logo on it. We bought them on sale so they only cost us about $2 each and we are planning to sell them for around $8 each. I did however show a picture of the bottle to a few of my friends and they said they would pay more than $10 for it. I also spoke with a member of the superfans that said that the club would be able to promote our water bottles which could be very beneficial.

For the storefront project, my group decided that we would put a do-it-yourself arts and crafts shop. We would allow customers to to customize candles, soap, picture frames and more. For this project, I wrote out our business strategy which included our differentiation strategy and our keys to success. When we first decided on doing a do-it-yourself arts and crafts shop, I felt a little pessimistic. I didn’t think that it would get any business and that there was too much competition nearby. After doing some research, I was surprised to find out how successful local competitors are doing and how none of our competitors sell exactly the same products. Also, we would be closer to the city than our main competition, Make Meaning, which is in Dedham. I think that this location is great for our business in particular. because it is so close to so many elementary schools and it is on route 9 which would help get publicity.  also started working on the packet that the accountant gave us. We were having trouble coming up with a name for our business. We came up with a lot of terrible puns for names while brainstorming but I’m hoping we could avoid puns for the final name.