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26A- Celebrating Failure

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15A- Figuring Out Buyer Behavior No.2

Begin with alternative evaluation.  In the last case exercise, you determined how customers sought information related to solving their need. The outcome of this step is to produce a set of alternatives. Customers pick from among this set of alternatives. In this step, your job is to figure out how they do their picking. Does price matter the most? Does quality? Does style? Is there more than one factor that is important to your customer segment? I interviewed a business major who cooks often, and is the only one in his apartment to do so. For him, the price matters most. This catches his attention and allows him to either continue looking at the product, or move on if too expensive. He also considers quality to be important, as a cheap looking or bad quality product would be displayed and frequently annoy him. Quality, however, remains at a lower importance along with the style when compared to the price. The style is what may originally catch his eye, but the price makes the f...
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30A- Final Reflection

What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing? I am proud of finishing a business concept in such detail. Usually, in past innovation courses, business models are changed after a few weeks to a new assignment. However, this was going into more detail on the same idea.  At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset? Yes, I learned more about hoe to think of different markets, and how the product might succeed or fail with that demographic. I also learned more about the different aspects which go into the business- like changes, supply markets, and exit strategies. What is the one recommendation you would make ...
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