newbieentrepreneurjourney

[newbieentrepreneurjourney]

People’s Approval for the ‘Placematter’

Just like what we did in the previous blog, we conducted a survey to test the interest of the people in our product by introducing it again to them and asking some questions so that we will know if they approve in our product. The questions that we asked them was  “ Do you think everyone needs a food heater?” and 61% of the people answered yes and 31% answered no. the send question was  “ Do you want a technology that can easily reheat foods? “ which is 98% of the people answered yes and 2% answered no. the third question was  “ Do you think it's worth to purchase a Php 1500 technology food heater with features of an app connectivity and chargeable device?” and 80% answered answered yes and 20% answered no because it’s too costly for them. the fourth question was “ Do you like customization service design or not? “ and 84% answered yes and 16% answered no. the fifth question was “ How important is it for you to use a product that makes your daily activity efficient? “ and majority of the answers is it is very important and will be useful to them. And the last question we asked them was their name and age.

We asked those questions to the people to check their initial response when we launch our product in the market. And most of the people who answered liked the idea of the ‘placematter’ which gives us the confidence to launch it in the future. we also decided in the group to allow the customers to have their own customization of the product since majority of them wants it and so that it will be worth it for the prize that we gave them.  The overall result of the survey that we conducted shows that majority approved the product and most of them like and think that it will be useful for the people especially for the people who have a busy life. 

During the conduction of the survey, I’ve learned that it is important to hear other’s opinion not only in your group but also to other even if it is a stranger because their opinion might give you a big impact or ideas in your product. Also I’ve learned that team work is very important to achieve your goals. 

[newbieentrepreneurjourney]

“Our Journey on the Placematter”

After we came up with the idea of naming our product as ‘placematter’, we had our brainstorming before the BMC since we need to finalize the details about our product and sync our ideas. During our brainstorming we planned the budget for our product including all the expenses in the making. We also planned on how we are going to promote our product as well as how much profit we are going to make.

While in the process of brainstorming we also planned on how we are going to protect our intellectual property. Also, it was a hard decision for the group in planning how many staff are we going to hire since we are also saving money because we are still a start up but then we decided to hire only few that we can afford to make sure that we can make our own profit. And also, we decided to choose the media to promote our product so that we wouldn’t have to pay for any advertisement.

During our BMC, I’ve learned that we have a lot of competitors in the market so it would really be a tough competition in the market. However, we already searched the products that are quite similar to ours and I’m glad to say that we have a lot of features in our product like connecting it to the phone via bluetooth and it is also chargeable and a little bigger than others. The price also suit to the product since it is very convenient for the people who are busy at work, school or even at home these days.

After our BMC, we conducted another survey to the people and I am very glad for the result since they all are willing to invest to the product if they would be given a chance and majority of them think that is very convenient and useful to the people since most of the uses electric appliance in cooking and are fan of eating hot foods which the best feature of our product (reheating foods). One thing I’ve learned during our journey is that it is very important to have a teamwork in the group. Everyone has to cooperate and voice out their opinion so that they can brainstorm to choose which is better not only for the product but also for the people who are going to purchase it.

[newbieentrepreneurjourney]

“People’s opinion about the Placematter”

After we came up with the idea of naming our product as ‘placematter’, we had our brainstorming before the BMC since we need to finalize the details about our product and sync our ideas. During our brainstorming we planned the budget for our product including all the expenses in the making. We also planned on how we are going to promote our product as well as how much profit we are going to make. 

While in the process of brainstorming we also planned on how we are going to protect our intellectual property. Also, it was a hard decision for the group in planning how many staff are we going to hire since we are also saving money because we are still a start up but then we decided to hire only few that we can afford to make sure that we can make our own profit. And also, we decided to choose the media to promote our product so that we wouldn’t have to pay for any advertisement.

During our BMC, I’ve learned that we have a lot of competitors in the market so it would really be a tough competition in the market. However, we already searched the products that are quite similar to ours and I’m glad to say that we have a lot of features in our product like connecting it to the phone via bluetooth and it is also chargeable and a little bigger than others. The price also suit to the product since it is very convenient for the people who are busy at work, school or even at home these days. 

After our BMC, we conducted another survey to the people and I am very glad for the result since they all are willing to invest to the product if they would be given a chance and majority of them think that is very convenient and useful to the people since most of the uses electric appliance in cooking and are fan of eating hot foods which the best feature of our product (reheating foods).  One thing I’ve learned during our journey is that it is very important to have a teamwork in the group. Everyone has to cooperate and voice out their opinion so that they can brainstorm to choose which is better not only for the product but also for the people who are going to purchase it.

[newbieentrepreneurjourney]

How we came up with a product “Placematter”

After several meetings with my fellow members we first came up with the idea of making an application to guide and measure the diet of each person who are using the app since it is related to our course but the we figured that it is not convenient for everyone and aside from that there are already many application like that in the market. Majority of the members in our group had been living in the dormitory when we were still studying face to face so we come up with the idea of something we wish we could have during that time.  So we then change it into making an appliance that would be convenient for everybody more specifically for students and employees.  And made a survey to everybody to know what they think of our idea. 

Our team first hypothesize their dependence of electronic use by asking few questions and these are: (1) How often do you prepare your meals? (2) What kind of electronics/appliances do you use for cooking in your household or apartment? (3) What did you observe having electronics/appliances (e.g. rice cooker, microwave oven) in your place?.  Majority of the response of the people is that they always prepare food and have a kitchen stove and they think having an appliances at home can save their time and energy. 

and  For the second hypothesis, we test on how they deal with excess foods, which is a part of our product development strategy, by formulating the questions such as: (1) If you check your place for food and there are left-overs what do you do with them? (2) What can you say to food left-over that spoils? (3) Do you consider it a problem in your household?. Majority of the response of the people prefer to reheat their left-overs before eating it and they think that left-overs that spoiled are awful and sad. and most of them consider it as a problem.

 And lastly  the  Customer’s awareness helps us to test our third hypothesis with various feedbacks with regards to their satisfasction introducing the products. Questions formulation such as: (1) Do you think a portable reheating of food equipment will be useful and helpful? (2) How much are you willing to invest in a product that can help solve desired heat preservation on food or beverages?. Majority of the answers of the people is that portable reheating of food equipment will be useful and helpful. However, majority of them is neutral when it comes to investing in it. But the number of people who likes is still large.

The decision that was made in our group was if we would continue the first product that we’ve made or change it. At the end of the day we chose to change it which lead us to the idea of making the ‘Placematter’. The options was to continue with application or change the product into appliance so we all chose the product appliance since we think that it would be very convenient for everybody and realistic. 

The lesson I’ve learned for this week is that  there’s always room for improvement even though we failed in our first trial we still managed to pass and remake everything on time. I’ve learned that teamwork is really a great factor when it comes to groupwork and also the time management is really important when you are making something as a group. I’ve learned that a group can come up with something good when there is cooperation, teamwork and trust within your group.