Month: November 2022

In 2022 our Year 7 cohort was given the task to produce a product and sell at the Christmas market. We faced lots of challenges and jumped lots of hurdles to make this possible and create a profit. We were given a 30 dollar investment to collect the materials and start the journey of our Christmas market. But before we started selling and making a profit we had to go through so many more stages. For example we had to plan our ideas and think of our plan of attack. So now that you Have a bit of info lets get started.

The planning

Planning is a really crucial part of any project. Without planning you will have no Idea what you are going into. At the start of this stage we had to do a brain storm. This is where we thought of lots of ideas of produce that we could sell at the market. The more ideas that we could think of the better because we will have more flexibility if our idea gets denied. For example if our first main idea gets denied than we will have other ideas that we could fall back on. But if we didn’t have any other ideas that we will have to brainstorm again and restart the process. During the planning stage we also had to pitch our idea. During the pitch we had to explain how our idea works and the cost to produce enough product to sell. If approved we start the next process.

How did we make a profit

Making a profit was the main goal of this entire market. Doing this we had to put a lot of critical thinking behind it. For example we had to find the cheapest materials to keep our cost down so we will have a higher mark up percentage therefore making more profit. Another crucial part in this stage is how we will price our product. A strategy we used when determining our price was physiological pricing. Physiological pricing is when you well set the price at $2.99 instead of $3.00 to attract the attention of savvy buyers because it seems as if it is less then $3.00 although it actually cost that amount. Another technique that we used was cost plus margin. Cost plus margin is essential for a business to make a decent profit. Cost plus margin is where you add a certain amount of money to the price to create the product. That additional price added to that cost is the profit you will make from that sale.

What we gained from this project.

During the market we gained lots of skills and capabilities that we could use in the future. One of these capabilities that we gained was collaboration. This skill was very important in this project. Without collaboration our group would of got no where. Collaboration is important because that is the key for efficiency in work. Without efficiency you will get no where and we would of never of created enough produce and make a profit. Another skill that we learnt and improved through this task was organisation. Organisation is a really important skill as this I what keeps everything stable and at a good pace. We used organisation by organising when to buy products and also being prepared for a pitch to see if our product will even be approved. Without organisation the project will be basically running around like a headless chook.

The process we went through

Before the main production, there was some crucial thinking that was behind it. For starters, we had to think of a feasible idea to present through an ad. This took lots of prep as we had to brain storm our first ideas and than pick one that will work thorough the process. After this we had to start thinking of what the characters will be and who they are. After this process we created the story board. With the story board we planned how the ad will fit together and how the camera angels will show power through the shots. After this we recorded the final tapes and edited. But I was absent for the editing.

How did we come up with the idea

We came up with the idea some inspiration from some other ads and put together in our own way. We used the concept of eating the product and then show off what it does at the end.

Obstacles we experienced

In our group we didn’t really experience that many obstacles. The main obstacle that I can remember facing was trying to get all of the recordings done in time. This was a challenge because they could of been rushed and not have as much care of what we would of wanted in our final product to get the best .

What will I do differently

Something that I will do differently was create a original jingle that will be used through out the advert. Another thing That I will do differently is take different camera angels.