Sunday, February 15, 2004
Group members: matthew, yuqin, jing ting, yi suan, shuya
Why product was chosen:
Product was chosen because one of our members has experience in this area. The drink is also very popular among students. The option of selling branded coffee is not viable
Feasibility study:
Of 50 respondents, 75% said they would like Soya bean with grass jelly.
60% of respondents willing to pay $0.60 for the Soya bean.
80% of them would like to see it being sold during break time.
Costs:
$16 for 5 litres of drink
ladle, cup and tab will be brought from our homes
Icecubs are $2
Straw $2
Total revenue:
100 cups times $0.60
=$60
Pricing Decisions:
0.60 reasonable because canteen stall sells it for $0.60.
Most respondents feel price is reasonable.
Demand:
Survey showed that people were willing to buy if product is sold.
Most also stated that the price was reasonable.
Problems:
Ice
Transportation
Solution:
Ice will be stored in the canteens freezer
Transportation will be by Jing Ting
Conclusion:
The product will be a huge hit with both the students and teachers because it is made affordable and the quality of the product is guaranteed. Thus we believe that the product will be an instant success because it is easy to run and there is a high demand for this drink. This is especially so after the PE lessons. Therefore, we see a big market for this drink and we believe that it will sell.
Why product was chosen:
Product was chosen because one of our members has experience in this area. The drink is also very popular among students. The option of selling branded coffee is not viable
Feasibility study:
Of 50 respondents, 75% said they would like Soya bean with grass jelly.
60% of respondents willing to pay $0.60 for the Soya bean.
80% of them would like to see it being sold during break time.
Costs:
$16 for 5 litres of drink
ladle, cup and tab will be brought from our homes
Icecubs are $2
Straw $2
Total revenue:
100 cups times $0.60
=$60
Pricing Decisions:
0.60 reasonable because canteen stall sells it for $0.60.
Most respondents feel price is reasonable.
Demand:
Survey showed that people were willing to buy if product is sold.
Most also stated that the price was reasonable.
Problems:
Ice
Transportation
Solution:
Ice will be stored in the canteens freezer
Transportation will be by Jing Ting
Conclusion:
The product will be a huge hit with both the students and teachers because it is made affordable and the quality of the product is guaranteed. Thus we believe that the product will be an instant success because it is easy to run and there is a high demand for this drink. This is especially so after the PE lessons. Therefore, we see a big market for this drink and we believe that it will sell.
