Suggested Improvements
4P's of Marketing: Evaluation
Self evaluation: will
I believe that, this term, I have worked well. I invested extra time, outside of just design class, into the work I was conducing. With my business partner, we worked at various lunchtimes, in which we created the products to then sell. In addition, I believe that I showed persistence in my work, through getting through the challenging aspects of formatting and adding information to our blog. This proved difficult and laborious with respect to time, however I did not let this influence the quality of our blog, and rather pushed through. In order to improve, I believe I could have planned more effectively. Due to a lack in planning, lots of resources, mainly time, was wasted. Initially, we thought to sell two products, i.e. stress balls and lanyards. However, we only ended up selling the stress balls / slime, because we did not have the resources available to make the lanyards. Unfortunately, this resulted in wasted time planning for the lanyard. Overall, I think I worked well, but could have planned more effectively.
TeamWork
In general, me and my business partner did work well, however, we did face some difficulties. The main difficulty we faced was meeting the deadlines. The reason that happened was because we did not know what each person have to do, as while being in class we were only assigning things we were going to do during class not after school. Another reason why we were staying behind with work is because we decided to create two products which meant that we had to do double the work that was given, even though at the end we only made only of the two products. Another difficulty we faced was not getting the materials in time because there were miscommunications on when and were to get them from. However, we did work well as a team as when the product was finally made, we were able to make our money back and make a £3 profit.
Profit
We have sold 12 of slime units allowing us to make £12 as they were sold for 1£ a piece. Additionally, we sold 4 different type stress balls, that made as £8 as they were sold for £2 a piece. Therefore, if this is added up it makes up £19, which allowed us to make a £3 profit. In criterion C it was mentioned that the total cost of the materials was £22 however, this is incorrect in total the materials were bought for £17 as the glue was bought for £15 and the borax for £2.
Client Interview
Did you like our product?
“Yes, it is fun to play with and relieves stress.”
Does it help you have a higher concentration?
“Yes, because it relieves stress and sopped me from talking to my classmates.”
Do you think that our prices were reasonable?
“Yes, because they were cheap.”
Did you prefer the the balloon stress ball or the slime?
“The slime because you can play in more different ways with it.”
Did our poster make you aware of our product?
“Yes, because it made me aware.”
This interview allowed us to understand if one of our customers enjoyed our slime. It also helped us understand if our slime achieved its goal which was to help people concentrate in class more. Additionally, it allowed us to understand if our prices were reasonable for the products we were selling. Furthermore, it allowed us to understand which of the two products was preferred, which would allow us to understand which of two we should make more of. Finally, we were able to comprehend if the purpose of our posters was met.(As it can be seen from the picture the client is enjoying the slime)
Target audience Feedback
Did you like our product?
“Yes, Yes, Yes, Yes”
Does it help you have a higher concentration?
“Yes, No, Yes, Yes”
Do you think that our prices were reasonable?
“Yes, No, Yes, Yes”
Did you prefer the the balloon stress ball or the slime?
“Balloon, Balloon, Balloon, Balloon”
Did our posters make you aware of our product?
“No, No, No, No”
After conducting a client interview we decided to create a survey to have a better understanding of what our target audience thinks of our product. From this survey, we learned that our product was widely accepted and enjoyed by our customers. Every person answered yes to the question ‘Did you like our product?’. In addition, the majority (75%) of our customers stated that it helped them concentrate in class. We are able to deduce, from this, that we achieved our goal of having a ‘fidget’ like toy to help students to concentrate. Also, 75% of people thought our prices were reasonable. Hence, we catered to our target audience with an appropriate price, thus allowing us to reach the entirety of our target audience, not restricted by financial means. All people surveyed stated that they preferred our stress ball balloons rather than the slime. Hence, having this product helped please our target audience. From the last question, we can infer that our advertising was ineffective in reaching and making our target audience aware of our product. This is a point that we could improve upon (further discussed in modifications). Overall, our product had a positive effect on our target audience, being that it achieved the purpose of having them concentrate in class better.
Self evaluation: Ion
During this term I believe I overall worked well. As I did much work at lunchtime and afterschool in order to try and stay on track and follow the deadlines. Additionally, I was able to work well in class allowing me to get a good amount of work done there which was positive because I could discuss that was completed with my business partner and ask for his opinion as well. However, there were some things I believe I could improve such as the planning with my business partner. I believe we should have planned better, the tasks that were supposed to be completed before the deadlines. However, we should have also planned when the materials were going to be bought, when the products were going to be made and when the sales were going to be made. Overall, I believe I worked well as by then end me and my business made a profit, however, as already mentioned better planning should have taken place.