Today we discussed target markets, and the readings on target markets. We learned that there are two ways to find a target market; 1) personally interview or survey people who you think are in your target market to see if the product you want to sell will be profitable 2) use already gathered "secondary data" from research libraries, and data bases. We learned that you need to
know your consumer. Know what the trends are in the industry that you're entering, and be sure that your products look the price that they are. With my group project we estimate that our target market is aged 18-35, has internet access, and is comfortable purchasing items online. We've decided to open an
etsy shop selling our products, so that we can easily track sales, purchases, and have a website that people are familiar with, and comfortable with using.
Our group has added a new member, Thao Do, one of my fellow APD students, which means our group now has
5 APD students and 2 RCS students. We have decided on our products, which will be chain jewelry and envelope clutches, that are similar to the
one seen below (click here for the original source.).
We chose this item, because they are easy to make, easy to make in mass quantities, and can be made for less than $2 per bag, not including findings. We've made an agreement amongst the "designers" and "manufacturers" that we will all make the bags together, since we are all APD students, and it will be faster to have all 4 of us working on making at least 20 items.
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