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Weekly meetup 2
Weekly meetup 2
31 October 2021
Our weekly meeting is here again! It was a good opportunity for each teams to update our progress and seek guidance from one another to ensure smooth coordination & collaboration.
At the end of the meeting, these pointers were brought up:
Operations team: Sourcing of suppliers - achieved. But we will need to source for additional supplies for the christmas season. We have also decided to pre-order from our suppliers a set of terrarium proposed in our list for each team member to achieve 3 objectives: 1) test the qualities of our suppliers, 2) start assembling our product into our desired minimum viable product (MVP), 3) test our logistic handling and be able to tailor our expectations accordingly and 4) prepare our products to have photos taken for our marketing & technology team to be able to feature them on our social media/shopify platforms respectively
Marketing team: Market research & interview - We have garnered desired results, with our target market validating our proposed business problem in the current market - which is high price & lack of creativity. Therefore, we will be able to position ourself as a cheaper alternative to our competitors.
Additionally, we have created our instagram account for Felix Natura, @felixnatura.sg (https://instagram.com/felixnatura.sg?utm_medium=copy_link), please do take the time to follow our instagram and follow us on our journey!!!
Technology team: Design of the website has begun. We further discussed as a team on what other functions we will need. Our operation team brought up a valid point on leaving an immediate note to our customers at checkout to warn them to open and start building the terrarium within a set time period before the plants withers.
Finance: After our market survey of suppliers' pricing, a cost price of about $10 has been set as we believe that the increase from $7 to $10 is worth as the suppliers will be all local apart from the supplier making our casing. This will enable us to not face the supply crunch currently faced in the worth. Accordingly, a budget has been set up from the paid-up capital made by each team member.
Conducting Product Trials
6 November 2021
The Operations team (Gabriel & Nigel) and Jyn made a trip to one of our suppliers to look at the actual products and conduct supplier survey. As shown in the picture, our supplier provides a large variety of plants and even essential items such as soil, pebbles and multi-coloured sand. It was indeed a haven for all our needs!
After purchasing all our needed supplies, the team proceeded to build the terrarium as per our designs to create a MVP, and to understand how much of each ingredient will be best for our product!
We will also be conducting product trials to better understand on how the product trial will go for when we start sales. Overall, this trip has given us better insights on what is needed to be done and also a better sense of the costs of all our goods for us to move forward with actual sales
Looking forward to share with the rest of the group on our findings during our group meeting tomorrow!
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