Sienna, Astrid, Eva, and I all contributed to creating all of our products, we all worked together in class to create the bracelets and we took some home as well to work on. Astrid and Eva did most of the scrunchies as they were the only two with sowing machines. Sienna and I worked on the Hair clips during class, we resin them as well as added glitter too. We all contributed to making the Bracelets as we thought that, we could all help, and that would be our biggest selling product.
We worked all together and shared all of our ideas so we could all be included and have a part in our 20$ boss project. We allocated positions as we had 3 different products, for example, some of us would work on the business side of the project like the posters while the others make products and helped with the physical side of the project. Everyone got a position that they were happy with and could work on so everything would run more smoothly and we could get it done on time. We changed positions each lesson so people got a chance to help with most aspects of the project, we had to work together to decide and figure out each position and how to create each of our products as well.
Prices were a massive part of our project if we don’t sell our product for the right price, we might not make a profit. During the market, we had to increase and decrease the prices throughout the market to make our profit higher, or if they are not selling we have to decrease our price so we could make a higher profit.
Our biggest competition would probably have to be Jining, Haley, Isabella, and Michelle’s group, as they were doing scrunchies and bracelets as well. This meant that we had to show our target audience – girls that our bracelets were amazing and better that our competition. This made us work harder as we knew that we had some competition.
When My group and I got to the market we had to be organized and be ready for all of the customers to come to our stall and buy our product. We laid out all of our bracelets at the front because we all thought that they would be our biggest-selling product. We were correct when everyone came up to our stall people just started trying bracelets on and seeing if it is the right color and if the bracelet fits their wrist correctly. The Hair clips did not sell as much as our group thought they would but still, quite a few sold. We all definitely thought that the scrunchies would greatly sell more but they did not seem to sell as much as our bracelets did. Closer to the end of the market we decreased our prices because everyone was starting to leave and we wanted to make more of a profit. In the end, we were all quite happy with how the market turned out and was also happy with our market price increase and decrease.
The location of your store is a very important aspect as well, as if you are not in a very good location you will not sell as much as the people in a better location. CESA was in a very good location and l was pleased with how we were placed, as we were in a crowded area so when people came in they saw our product straight away as we were at the front.