Reflection – Learning Launch

Challenge

My team and I were challenged to sell an inventory of products that we had no experience with, nor  knowledge of.  We are a team of males who have a small online store.  We were presented an  opportunity to sell an inventory of adult toys for women.  The reason we accepted a challenge in such  an unknown field was the potential financial gains.  We were not required to put down any capital nor  required to provide any storage.  We were obligated to pay back only the cost of the products after the  sales were made, which are sold at roughly a 50% profit margin.  No deadline was established and there  was very limited capital available for this project.

Selection

We chose to do a learning launch.  A learning launch is a quick and cheap experiment on an idea in the  real world that allows you to test your assumptions on real customers.  A more in depth explanation can  be found in Module 4 of the course ‘Design Thinking for Innovation’ through the University of Virginia.

We chose this tool because we needed direct conversations with our customer base.  Instead of  researching articles and analyses of this market and its customers, we wanted to learn directly from  them.  We knew these products were in demand, however we were looking for the most effective way  to get them into the hands of the buyers.  This tool was designed to perfectly meet our goals.

Application

After researching our new product line, we held a showcase event as our learning launch.  We invited  members of our target customer group, displayed our products and displayed prototypes of potential  versions of an online store.  We raffled prizes and products and had conversations with guests.  We  gathered all the data and feedback from our conversations and questionnaires, took notes and then met  as a team to compile our findings.  The learning launch met all our expectations.  It was quick, easy to  arrange, inexpensive and provided us with a wealth of in-depth intimate information through direct  conversations.

Insight

This tool was invaluable in meeting our goals.  It set us in a new direction, turning us away from a path  of certain failure that we would otherwise have followed.

Assumptions held prior to the learning launch that we expected to confirm:

-  We assumed women did not trust or feel comfortable purchasing these products from men

-  We assumed an online store would be most effective.

-  We assumed we would need to partner with female experts to consult on webpage design and  content

Conclusions from the learning launch:

-  Customers want to see the physical products and make purchases in person

-  Are comfortable purchasing products from men, provided they are knowledgeable

-  Are interested in getting male opinions and insight on products and experiences

-  Most popular purchasing environment would be a Tupperware style party held by  knowledgeable males

These were not results we expected to receive, however it has changed our mindset and pointed us in  the direction of another quick and cheap learning launch, to validate our findings and continue  improving our methods as we move forward.

This tool was an effective way to quickly test our assumptions in a market that was unknown to us.  I  believe this is also true of Design Thinking as a whole.   It allows us to organize and make structured  decisions in areas that can be very murky and unknown.

Approach

I would undoubtedly use the same tool again in the same scenario.  We knew information existed that  we did not possess.  We also knew that our customers possessed this information.  A learning launch  was the best way to quickly and inexpensively make direct contact with these customers.  The only thing  I (we) would do differently in the future is to hold more learning launches and hold them more  frequently.


Reflection – Learning Launch Challenge My team and I were challenged to sell an inventory of products that we had no experience with , nor knowledge of . We are a team of males who have a small online store . We were presented an opportunity to sell an inventory of adult toys for women . The reason we accepted a challenge in such an unknown field was the potential financial gains . We were not required to put down any capital nor required to provide any storage . We were obligated to pay back only the cost of the products after the sales were made , which are sold at roughly a 50 % profit margin . No deadline was established and there was very limited capital available for this project . Selection We chose to do a learning launch . A learning launch is a quick and cheap experiment on an idea in the real world that allows you to test your assumptions on real customers . A more in depth explanation can be found in Module 4 of the course ‘ Design Thinking for Innovation ’ through the University of Virginia . We chose this tool because we needed direct conversations with our customer base . Instead of researching articles and analyses of this market and its customers , we wanted to learn directly from them . We knew these products were in demand , however we were looking for the most effective way to get them into the hands of the buyers . This tool was designed to perfectly meet our goals . Application After researching our new product line , we held a showcase event as our learning launch . We invited members of our target customer group , displayed our products and displayed prototypes of potential versions of an online store . We raffled prizes and products and had conversations with guests . We gathered all the data and feedback from our conversations and questionnaires , took notes and then met as a team to compile our findings . The learning launch met all our expectations . It was quick , easy to arrange , inexpensive and provided us with a wealth of in - depth intimate information through direct conversations . Insight This tool was invaluable in meeting our goals . It set us in a new direction , turning us away from a path of certain failure that we would otherwise have followed . Assumptions held prior to the learning launch that we expected to confirm : - We assumed women did not trust or feel comfortable purchasing these products from men - We assumed an online store would be most effective . - We assumed we would need to partner with female experts to consult on webpage design and content Conclusions from the learning launch : - Customers want to see the physical products and make purchases in person - Are comfortable purchasing products from men , provided they are knowledgeable - Are interested in getting male opinions and insight on products and experiences - Most popular purchasing environment would be a Tupperware style party held by knowledgeable males These were not results we expected to receive , however it has changed our mindset and pointed us in the direction of another quick and cheap learning launch , to validate our findings and continue improving our methods as we move forward . This tool was an effective way to quickly test our assumptions in a market that was unknown to us . I believe this is also true of Design Thinking as a whole . It allows us to organize and make structured decisions in areas that can be very murky and unknown . Approach I would undoubtedly use the same tool again in the same scenario . We knew information existed that we did not possess . We also knew that our customers possessed this information . A learning launch was the best way to quickly and inexpensively make direct contact with these customers . The only thing I ( we ) would do differently in the future is to hold more learning launches and hold them more frequently .