Startup Idea Verification - Learning Launch

Challenge & Selection:

Me and a couple of friends have had an idea for a startup that aims to source exotic chocolates  & edibles sourced from all over the globe and create a market for them in India. The challenge  is to find out if there is scope for such a market and to find out if it is a sustainable one or not.  The project scope includes a small team working on sales & marketing in parallel to face the  challenge. After going through all the tools, a learning launch seems the best idea for the  specific challenges as it will give a better picture in this scenario.

Application:

For our first learning launch, we focused on the structure/execution of our online marketing  tasks. In particular, peer to peer marketing using various social media. Given the fact that we  were a group of college students, we could generate a small momentum inside a controlled  environment. We set up a small learning launch in one of the Cultural festivals by setting up a  stall. We primarily focused on chocolates sourced from Europe and South America sourced  from known people travelling from these places.

Insight:

By applying the learning launch tool, our team identified a few assumptions and cleared a path  for future learning launches. This learning launch is considered as a controlled one as the  customer base comprised of more than 95 percent students. In our approach, the results were  slightly different from the ones anticipated by our team. Even though people were enthusiastic  about this concept, willingness to buy the products was less amongst people. Our assumptions  about enthusiasm offsetting the price factor was wrong and people were considering the  budget allowance as a primary factor. The second most important factor which came up is the  quality/authenticity of the items.

Moving forward, our team will review this insight and incorporate it into future launch designs.  The ongoing incorporation of insight is particularly important at this stage, as launches come  before a full rollout in the design thinking timeline.

Approach:

Given the challenges, a learning launch seems to be the best option as this would directly face the  challenges at hand. The insight gained from this controlled launch will be reflected in our future  launches which will be in an uncontrolled environment. The uncontrolled launch will give us a better

picture on the future of the project whether it will be shelved or modified and launched at a bigger  scale.


Startup Idea Verification - Learning Launch Challenge & Selection : Me and a couple of friends have had an idea for a startup that aims to source exotic chocolates & edibles sourced from all over the globe and create a market for them in India . The challenge is to find out if there is scope for such a market and to find out if it is a sustainable one or not . The project scope includes a small team working on sales & marketing in parallel to face the challenge . After going through all the tools , a learning launch seems the best idea for the specific challenges as it will give a better picture in this scenario . Application : For our first learning launch , we focused on the structure / execution of our online marketing tasks . In particular , peer to peer marketing using various social media . Given the fact that we were a group of college students , we could generate a small momentum inside a controlled environment . We set up a small learning launch in one of the Cultural festivals by setting up a stall . We primarily focused on chocolates sourced from Europe and South America sourced from known people travelling from these places . Insight : By applying the learning launch tool , our team identified a few assumptions and cleared a path for future learning launches . This learning launch is considered as a controlled one as the customer base comprised of more than 95 percent students . In our approach , the results were slightly different from the ones anticipated by our team . Even though people were enthusiastic about this concept , willingness to buy the products was less amongst people . Our assumptions about enthusiasm offsetting the price factor was wrong and people were considering the budget allowance as a primary factor . The second most important factor which came up is the quality / authenticity of the items . Moving forward , our team will review this insight and incorporate it into future launch designs . The ongoing incorporation of insight is particularly important at this stage , as launches come before a full rollout in the design thinking timeline . Approach : Given the challenges , a learning launch seems to be the best option as this would directly face the challenges at hand . The insight gained from this controlled launch will be reflected in our future launches which will be in an uncontrolled environment . The uncontrolled launch will give us a better picture on the future of the project whether it will be shelved or modified and launched at a bigger scale .