Reflection – Learning Launch

Challenge

I am a member of an entrepreneurial club of our college. In this club we serve as a bridge  between the people who make the product (target audience) and the customers (target  population) who use the product. We help in supply chain, marketing and idea formulation.  In our product series we were planning to launch a notebook as our new product. We were  new to the field of making notebooks. We had some big established competitors in the market  whose market share and brand value were very high. We wanted to make our product unique  so that we can get some initial sales for our product. It will also help the product to sustain in  the market. So we decided to differentiate our product in every aspect. We wanted to  differentiate our product right from the target audience (people who make notebooks for us),  the hardcover which is used in the notebook. We wanted to focus on a particular target  population (people who use our notebooks) so that we can acquire some sales.

Selection

The tool that I selected for my challenge is Learning Launch. I selected this tool because  making notebook was unknown and we wanted to experiment it in the faster and cheaper  manner. This tool involved understanding customers and their expectations. It also includes  the shortcomings of the products which exist already in the market. The sustainability check  for the product has also to be done so learning launch will help us to adapt or amend our idea.  Like the IBM case study cited in the 4th module the idea to redesign the trade show to attract  the customer for business development, we required to test our new product in a customer  specific platform.

Application

We selected our customers to be school going kids between the age group 6 to 11.To  contribute our part to the society through our product we decided to spread awareness about  autism. We decided to choose our target audience to be the people who are affected by the  autism and a short note about the disease will also be printed on the notebooks hard cover. So  they make notebook and we help them to sell the notebooks to children. We decided to name  our product in regional language as the other leading brands had their product name in  English. This enhanced an indigenous attachment of the product to the customer. We  analysed our customer’s likes and dislikes and planned our product design accordingly. Hand  painted cartoons and pictures were selected as designs to be printed on the hardcover. We  also gave a cover page inside the notebook which the customer can personalise accordingly  by completing the dotted art. On our first learning launch we decided to inculcate all the  above mentioned product specifications and targeted the school kids to sell our product.

We didn’t had the expected sales figures as so we decide to work more on understanding the  customers need. On comparison with other products which are available in the market we  found that our product was weighing more. So we reduced the gsm of the paper used in the  product which will ultimately reduce the weight of the product. On our second learning  launch we tried to introduce our product in kids book stall. We also had digital advertising  through a gaming platform on Facebook. The kids visiting the stalls were also greeted and  welcomed by cartoon costumed character. Through these steps our sales volume increased  fairly.

Insight

By applying the learning launch tool our team identified the possible ideas to increase the  sales volume of the notebooks. Though the expected results were not met the process flow  continues. The ideas which did not affect the quality of the product were tested and the  response was recorded. The tool helped us to increase our customer focus and eliminate many  ideas which were not customer centric. Experimentation was carried out in faster pace which  lead to product development.

Approach

Learning launch is the appropriate tool for this task. We need to review insights from the  previous launches. During the next launch the feedback from the customers could be received  and reviewed. This can be done continuously for the process and product improvement. In  future launches our team will have more customer centricity and would cover large target  population through advanced tie-ups with schools and other children based organisation.


Reflection – Learning Launch Challenge I am a member of an entrepreneurial club of our college . In this club we serve as a bridge between the people who make the product ( target audience ) and the customers ( target population ) who use the product . We help in supply chain , marketing and idea formulation . In our product series we were planning to launch a notebook as our new product . We were new to the field of making notebooks . We had some big established competitors in the market whose market share and brand value were very high . We wanted to make our product unique so that we can get some initial sales for our product . It will also help the product to sustain in the market . So we decided to differentiate our product in every aspect . We wanted to differentiate our product right from the target audience ( people who make notebooks for us ) , the hardcover which is used in the notebook . We wanted to focus on a particular target population ( people who use our notebooks ) so that we can acquire some sales . Selection The tool that I selected for my challenge is Learning Launch . I selected this tool because making notebook was unknown and we wanted to experiment it in the faster and cheaper manner . This tool involved understanding customers and their expectations . It also includes the shortcomings of the products which exist already in the market . The sustainability check for the product has also to be done so learning launch will help us to adapt or amend our idea . Like the IBM case study cited in the 4th module the idea to redesign the trade show to attract the customer for business development , we required to test our new product in a customer specific platform . Application We selected our customers to be school going kids between the age group 6 to 11.To contribute our part to the society through our product we decided to spread awareness about autism . We decided to choose our target audience to be the people who are affected by the autism and a short note about the disease will also be printed on the notebooks hard cover . So they make notebook and we help them to sell the notebooks to children . We decided to name our product in regional language as the other leading brands had their product name in English . This enhanced an indigenous attachment of the product to the customer . We analysed our customer ’s likes and dislikes and planned our product design accordingly . Hand painted cartoons and pictures were selected as designs to be printed on the hardcover . We also gave a cover page inside the notebook which the customer can personalise accordingly by completing the dotted art . On our first learning launch we decided to inculcate all the above mentioned product specifications and targeted the school kids to sell our product . We did n’t had the expected sales figures as so we decide to work more on understanding the customers need . On comparison with other products which are available in the market we found that our product was weighing more . So we reduced the gsm of the paper used in the product which will ultimately reduce the weight of the product . On our second learning launch we tried to introduce our product in kids book stall . We also had digital advertising through a gaming platform on Facebook . The kids visiting the stalls were also greeted and welcomed by cartoon costumed character . Through these steps our sales volume increased fairly . Insight By applying the learning launch tool our team identified the possible ideas to increase the sales volume of the notebooks . Though the expected results were not met the process flow continues . The ideas which did not affect the quality of the product were tested and the response was recorded . The tool helped us to increase our customer focus and eliminate many ideas which were not customer centric . Experimentation was carried out in faster pace which lead to product development . Approach Learning launch is the appropriate tool for this task . We need to review insights from the previous launches . During the next launch the feedback from the customers could be received and reviewed . This can be done continuously for the process and product improvement . In future launches our team will have more customer centricity and would cover large target population through advanced tie - ups with schools and other children based organisation .