After a hectic semester and the holidays, we still had to bring our heads together and discuss the feedback we received from the dragon’s den. Because we were all in different locations for the holidays, we settled for a conference call over the phone.
In our meeting, we revisited our design concept and its practicality, taking into consideration the feedback we received. Design wise, we received quite positive feedback and hence decided not to make any changes to our design. However, we intend on doing further research on the price point of our bag following an in-depth research on our target market and a broad description of who our first customer will be. Our initial price point was set at £120 per unit.
Another important point raised by the dragons included taking into consideration ways to protect our style and technology by getting an IP and checking to ensure our product name ‘Tasca’ is not trading on the market. We have looked into the latter and found it has not been registered yet and we are currently looking into the IP.
The size of the bag however was questioned by our male audience as concerns that it might be too bulky arose as men tend to want a product small enough to fit their jacket or trousers pockets as opposed to something bulky that they have to carry around. This is something we will look into as we move forward.
And most importantly was the issue to do with health concerns as the bag would be help close to the body at most times based on the design. This too is something we will look into and address in our next meeting.
Our agenda moving forward is speaking to suppliers in order to have a clear cost breakdown that will go into the production of the bag and this will in turn help make the pricing a lot easier. We also aim to look into the wireless charging facility and speak to several providers.
Despite having some tension once in a while over what path to take in our venture, it has been an experience working with people with completely different opinions and having to compromise in some situations. Because I am quite strong willed and usually want things to go my way or the high way, it was a challenge having to give up what I feel ‘is right’ because no one else in the group thinks so. But in the end, we always seem to come back together in order to achieve a common goal. I am learning to appreciate other people’s views mores and learn more about things from someone else’s’ perspective. This semester, I aim to say less of, Yes, But?… and more of Why? In order to just learn more.