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Blog Entry 16: Good things come to an end.
Blog Entry 16: Good things come to an end.
As we gave our concluding presentation for peachy today, we can agree that friends were made and partners were found. But as we move on after 9135, the three of us will be bringing peachy along with us to scale it to greater heights during the course of our university and hopefully beyond.
My message to the future batches of MiE , focus on getting the team right like the three of us did, everything will fall in place eventually.
The ultimate goal for peachy in my view is: To see Peachy's products consigned in Changi Jewel.
The immense pride of seeing our products placed in our nation's crowned airport terminal is an achievement of its own and I believe with the right packaging and hustle, we will eventually reach there!
We came, We Hustled, We are Peachy.
Signing off,
Jerald
Blog Entry 15: Marketing wave 2
Blog Entry 15: Marketing wave 2
We have finalised the influencers that we are engaging to help us share our products on instagram with a post and unboxing instastory. We fixed up the schedule that we will want them to post; the reason why we are doing up a marketing schedule is because we want to maximise the impact by having followers repeatedly seeing our shorts within a span of a week and hoping that this piques their curiosity to give us the time of day to check us out and hopefully convert them into purchasing customers.
On our influencer roster, we are lucky to have 2 rather prominent figures. Adam is a national rugby player who happens to be a poster boy for HSBC. Javier Wong is an emcee that hosted faculty events as well as interviewed one of our minister Ng Chee Meng.
Both of them has a significant influence on the market segments that we want to penetrate. Adam has a good influence on the sporting and rugby scene in Singaporean Youths while Javier has a good grip on the NTU community with his constant appearances and affable personality in hosting events.
There are many more micro-influencers that we have engaged that we hope are able to raise awareness within the school community.
Blog Entry 14: Peachy's debut
Blog Entry 14: Peachy's debut
Peachy just had its first showcase at the Sports Camp Pageant that we sponsored for the contestants as seen below! This is part of our marketing campaign as we felt that the sports camp pageantees were able to carry our shorts very well due to their required physique to partake in the competition.
The events of that day escalated rather quickly because we went for a banking and finance recruitment forum and had to rush down to a club to watch the event go on. However, on our way to the venue , we were requested to be a judge during the catwalk and dance segments which we willingly participated and resulted in even greater exposure during the event.
On the panel of judges was another sponsor from former MiE alum, Raenor , who was the founder of Bring Your Own Protein (BYOP). We talked about MiE and agreed that there could potentially be a synergy between our companies and we could collaborate in the future for marketing campaigns.
We look forward to our future events that we can increase our outreach within the student body .
Blog Entry 13: Badgering an auntie
Blog Entry 13: Badgering an auntie
Well, shit happens. A mess up by our supplier that caused a delay in delivery of our shorts combined with an upcoming sports pageant that we were sponsoring resulted in some unsavoury actions.
Situation: 8 days out to the sports pageant, 2 weeks for our products to arrive.
Solution: Walk around queensway shopping centre, shaking down aunties and store owners shop by shop to try and produce the exact shorts as a sample to overcome our shortage.
What we learnt: This is not their first rodeo, We were not the first and we will not be the last!
The bright side: We found out that our shorts were of superior quality and given our printing techniques; "No one in singapore is able to produce this, all send to china and do one"
-Store Auntie, 2019
Well in the end we had to deploy some contingency measures by purchasing our competitor shorts to make up for the shortage in shorts that we were going to sponsor for the pageant and we're glad it all worked out!
"My mom would not be proud of my actions today"
-Myself, 2019
Blog Entry 12: optimism is key
Blog Entry 12: optimism is key
It has been 2 weeks since we opened up our pre-orders but unfortunately sales has been slow. So far the sales we got are from a unsustainable source; our friends.
Well, my hypothesis is that while people do love the designs, they are not ready to put the money where their mouth is. They are unable to visualise why this pair of shorts is worth that $45 and hence are holding back from purchasing as early adopters.
My team and I have decided on a few ways that we will tackle this problem
1) Have a 'unboxing' video campaign to allow everyone to see what they expect to get, which is more than just a pair of shorts, they are buying an experience that comes with a pair of shorts
2) Create a Fear Of Missing Out(FOMO) by reaching out to micro influencers to have it popping up around school and they have to get in on the trend
3) Viral Marketing through interesting and hilarious videos for others to share on their social media
4) Photoshoot to present a premium brand front instead of a school project optic.
We are in talks with sponsorships of paegants to gain more exposure on the student body front and we will be liaising with popular social media accounts to gain exposure as our next phase of marketing campaign.
We shall see if we are able to overcome the price perception of our current customers and bridge the gap of what they are willing to pay and what we are charging using the above methods!
blog Entry 11: Paint me like one of your french girls
blog Entry 11: Paint me like one of your french girls
Funny story; When the last sample came in for the Trees on 'Roids design, you hong brought it to class to show me the design and we got so excited that after class, we brought it to Gardens By The Bay to get a few shots in.
Well, what began as a spontaneous adventure for us ended as a inspiration as to what we could achieve in Garden's by the bay. While taking this photo and running off in the scalding heat, we were getting loads of attention from locals and tourists alike that saw our shorts. They were visibly pointing and whispering among themselves.
This meant that we have gotten their attention, we just have to provide an avenue for them to purchase it and wham bam we got a sale!
Based on this positive attention that we got, we will be looking towards consigning our products to a store during the Christmas season where we can see an uptick in seasonal sales. Meanwhile, we might opt to go for a booth during their carnivals if the prices and our cashflow allows for it!
Blog Entry 10: Sun's out, Bums out!
Blog Entry 10: Sun's out, Bums out!
With our schedules aligned , we took the opportunity to head to kallang to get a bootstrapped photoshoot going ! These photos is going to be marketing fodder for us in time to come to showcase our products!
The problem was, we did not have a professional photographer to help us out ,so it was 3 guys 1 girl and a lot to learn.
The goal: Quirky shots to exude the attitude we were going for while keeping it classy.
The Result: A whole lot of shennanigans and not a lot to show for it.
Well, we had fun and probably 5 out of 800+ photos that were reasonably well taken to use for our marketing! We did a 'God of gamblers' themed video to create a sort of viral marketing where people will be amused by our antics to promote the mahjong shorts!
Blog Entry 9: We are open!
Blog Entry 9: We are open!
Over the past 2 weeks, my team and I were debating on the packaging aspects of the shorts because if we want to price ourselves at a premium, we jolly well make sure it looks premium when our customers receive it. We have decided to go with a cardboardbox and within the box we will encapsulate a sticker and thankyou tag that doubles up as a bookmark. All this will be wrapped with a white crepe paper to exude a sense of luxury. Take a look below at our different considerations and the choices we went through!
Yes the fancy schmancy stuff adds to the unit cost of our products.
Is it necessary? Maybe.
Will it improve our sales? Maybe.
Does it make our customers gleam when they receive a shorts that is packaged like a present with unexpected treats? Hell yes.
I heavily pushed for the excitement of receiving a gift so that the customers will have nothing but great things to say about us to conduct word of mouth marketing. Well it will only work when we see it happen but we're keeping our fingers crossed.
On an another note, in the second round of sampling , the gem biscuits and mahjong pants got our approval but the supertree is abysmal as it was enlarged, requiring another round of sample.
That sucks but the show has to go on and we will proceed with our photoshoot in order to hit our deadlines.
Blog Entry 8: Teaser Product!
Blog Entry 8: Teaser Product!
We figured that people want the things that they cannot get.
Also we figured that every great startup that we have come across, owns their own cotton t-shirts.
When these two thoughts intertwine, we achieve a kick ass looking shirt that people can't buy!
Heh, but seriously tho, we decided to get team shirts and possibly include this in our future product line for others to purchase. People have been asking how to get their hands on this but we're being coy about it for now!
Blog Entry 7: Day before Launch!
Blog Entry 7: Day before Launch!
One day before we launched the sites and pre-orders, Bryan You Hong and I holed up in Bryan's room to pull an all-nighter to ensure that our sites, landing page and payment channels are all optimised and in working condition before the launch.
From the wording to fonts to the colour of the entire page, To the message crafting to the photos we select for posting to the backdrop.
We made sure that every single detail was up to our sky high standards before we called it a night at 5am. I really could'nt round up anymore hustlers in my circle to put in the same room as these top lads.
Blog entry 6: Trust box?
Blog entry 6: Trust box?
I really don't know how You Hong does it, but he managed to find a 3 day old start up from Ngee Ann Poly doing an entrepreneurship project similar to ours.
The 3 of us went down to NP after our classes to meet this group of aspiring entrepreneurs to negotiate prices and to confirm orders. This packaging was decided on as it is cost effective and essentially able to elevate the touch of our product. Furthermore, he was offering to print and paste our logo on the boxes as an added service, taking manual work off our hands.
This came at a steal because the cardboard box producer was the uncle of one of the founders and we were able to get it as close to cost price with very low MOQ!
Blog Entry 5: Peachy is launching!
Blog Entry 5: Peachy is launching!
This has a been a month that tested our patience as we eagerly waited for the samples to arrive and we began our pre-marketing operations on Instagram. The uptake of the marketing campaign was helmed by a give-away which response was slightly lackluster. I am thankful for those that are rooting for us in our infancy. We received good response from our peers as well that they would purchase and don our shorts as it is attractive to them! +1 Point to Peachy! *Fingers Crossed*
The sample has arrived however I was rather disappointed and yet relieved. I was disappointed at the colours as they were too dim and seems faded out, I guess that is the bridge that we have to overcome in our next batch of samples which we are going to be ordering in the next few days. But overcoming obstacles is the 'kick' in building a startup right?
However a pertinent problem that has been droning on in my mind is our already thin margins and how we are able to look for a solid packaging that is sturdy enough to mail and yet stylish enough to place us as a premium brand. Time to shop and put our bootstrapping creativity hats on!
Blog Entry 4: our nation beckons
Blog Entry 4: our nation beckons
Well as much as I would put Peachy as a priority, our nation demands my attention and I'll be taking a hiatus from peachy for the next 2 weeks as I'll be sleeping in the jungle surviving on pocket ration!
EDIT: There was internet access so I continued in the discussion and work during my missions....
Blog Entry 3: The hustle Continues
Blog Entry 3: The hustle Continues
I believe we are already behind schedule due to the exams and our personal activities after that. But we recognise the problems and are hustling double hard to ensure that we still keep on track to our schedule!
Preliminary Survey of sample size 101 was not very promising, however it could be due to the poor surveying skills that i have done up, giving too much of an open ended question format which was hard to quantify and condense.
However with what we could salvage and infer, We realised that that is a large discrepancy between the price point that we were looking at versus the perceived price by our sample group. This could be due to the lack of packaging and marketing efforts that was not shown in the survey. So essentially, we have to figure out how to make it worth $30 which is the price point that we will be going for...
With that being said, today we will be doing a slightly informal survey which is an instagram poll which will allow our followers to pick the version of pants that they prefer, after tweaking it about after suggestions by our samples.
We will be looking forward to producing these pants and the uphill battle we will face!
My favourite design by far!
My favourite design by far!
Blog Entry 2: Destroyed by exams
Blog Entry 2: Destroyed by exams
Just finished our statistics paper and got destroyed by it alongside my co-founders! But we will still fight for our last final paper tomorrow before we officially dive into our peachy business! We are studying hard together and working hard academically before we push on to apply this undying 'passion' towards our business to make it a success despite the odds! That's our peachy co founder passed out behind me after an intensive study session.
The mental fatigue is real...
Blog Entry 1: Great Beginnings
Blog Entry 1: Great Beginnings
Had our first team presentation today, really excited to be part of this team and the idea we have moving forward! All of us are on the same page and peachy about our future plans following even after the module ends. However, as mentioned by Roderick, we would have to take precautionary measures when designing and producing the shorts to achieve the standards that we want. One amazing input that we did not consider was the appeal of locally flavoured shorts to the tourists transiting from the airport. IF we do make it and see our products in The Jewel, it would be a day of true pride and joy for the four of us! Will be working towards that vision in time to come!
We definitely have to look at widening our expertise to take charge of production and quality assurance as all four of us are strong in the business and marketing aspects but are blindsided on the technical aspects of production.
Figure 4.20 : Mad Peachy Vibes Going On Post-presentation!
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