25th Feb- Group Meeting
Discoveries and Innovation
With the previous weeks attempt to give away flyers to boost sales, it was shocking to realise that the conversion rate was just 1%, and only 4 bottles were sold. This gave us ample questions in our minds. When I asked around the customers, this is what I came up with:
- There is no distinguishing competitive advantage in the product
- The taste is not appealing enough to come back for more
This is what led us to have another meeting. In the meeting, we concluded that there was a need to do Research and Development. We brainstormed and came up with an approach below for the upcoming week:
- Release of OATLY x Alpaca
- Introduce Alpaca on Food kakis
Meanwhile, Macqueza, the make up company, sent the formal proposal. We discovered that Macqueza's event was to last for 3 months at Jurong and they were expecting sales of 50 bottles in a week. Even though the numbers are relatively bigger than our capacity, I look forward to see what can be done.
I have arranged a meeting with Gabriel to discuss some of my ideas at present. What have in mind is to outsource production to ensure, the use of this opportunity. I will be meeting him on 26th Feb (tomorrow).