Today, we had the opportunity to meet Ms Brenda and Mr Boom Chow from NTUitive to gain leads on boosting our sales.

Through Adnan, we we priviledged to have a more comfortable session with Brenda in sharing our entrepreneurial journey and our pitch in contributing to NTUi

After a nice chat with Ms Brenda, we realised that she has a love for aromatic coffees, such as the Nanyang coffee that she goes to near the office.

After letting her try out our cold brew, she mentioned that the tastes and the notes of the cold brew was not to her preference. being exposed to our product and pitch, she gave us some relevant pointers that we can progress on:

• For a start-up to gain more publicity, we can consider providing social support to do so. An example would be giving out our very own cold brew concentrates to medical staffs who are working tirelessly to keep the epidemic in check.
• We can consider pitching to Connect71 (a start-up cafe in NTU by a group of student) for a collaboration to help them gain product diversification.
• We should have a consistent update on our instagram page to strengthen our credentials.
• We can consider penetrating into co-working spaces pitching to budding entrepreneurs, gaining sales leads and more traction.

Soon after, Mr George popped by our meeting. It was an opportunity for us to gain more insightful feedbacks as he was known to be a coffee connoisseur. Like how we introduced ourselves and our products to Brenda, George had a taste of our cold brew. He felt that the cold brew was alright. Here are some of his insights:

• We can reconsider on our pricing strategy. He gave a suggestion on pricing our cold brew such based on the income of the target audience.
• That being said, since we consider ourselves a premium coffee brand at a premium price, we should consider penetrating into CBD area, a population with higher disposable income.
• We should evaluate on our production, if we can take ownership of our manufacturing in the upstream, as well as our equipment and materials management of our Brewing process. This would set us apart from other potential competitors.

With regards to the pricing strategy, George mentioned that he came across a study on caffeine consuming behavior that stated the prices of the coffees that coffee drinkers subscribe to, accumulates to 6% of their monthly disposable income in a month. That being said, he felt that we can leverage on this information to derive a mathematical model in determining the price of our cold brew concentrate. This could potentially increase our profit margins.

At the end of the meeting, we gave them some of our cold brews in appreciation for their time. Mr Brenda would update us about any upcoming meetings that NTUitive would have, so we may have an opportunity to market AlpacaBrewery. With that, I will contact her soon to have a follow-up.