I Need Help With Market Research For Business Plan

[DoubleC]

Thanks guys for helping. I need to really think about these things for the business plan I'm developing. I left the rhythm beads off because they are so specialized. I DIDN'T leave the guitar straps off because even if you don't play usually you have someone close you might consider purchasing one for. The woman at the org. that's helping with my business plan ask me, 'who are your customers. I said, 'everyone potentially.' She said, 'I'm not.' I said, 'you don't know anyone who plays the guitar.' She said, 'oh well yeah my husband.' LOL

You guys are doling great, keep it up, this is really going to help my business plan. Thanks, Cheryl

Edited July 2, 2012 by DoubleC

[DoubleC]

You guys are still doing a great job and I'm still watching the results.

[DoubleC]

So far quality has it, with materials being next. Seriously, doesn't anybody here care about price?

[dirtclod]

Yes i care about price. But you can only pick one.

[Tina]

1. Design ... (I do have to love the piece first)

2. Quallity ... (now when I love it I want it to last forever *S*)

3. Price ... (and last, I'm hoping it's cheap enough for me to afford it)

Just my thoughts//Tina

[Sylvia]

Cheryl:

People will almost always buy "Quality" or perceived "Value for the money." BUT...They also have to have the disposable income in order to afford the item. Think about some of the "brand name" purses that were originally made in the USA. They were perceived as Quality purses and people paid a premium price for them. Then all of a sudden "Dooney and Burk" started having their purses made "over there." So the Quality that was once perceived is now more a "perceived value " thing. http://www.horsekeeping.com/Dooney/Dooney-Bourke-char.htm

A friend recently said... Sell to the classes.... eat with the masses. Sell to the masses... Eat with the Classes. Meaning sell many, many pieces for a modest profit and you'll be more successful. I can see their point. BTW... they are selling over 100 pieces of their product per month. I don't know if they are eating with the classes yet... but they sure are busy.

[cem]

Design for me too even if the piece has high quality about it, if it looks strange I'm not going to buy it.

Clair

[DoubleC]

Lots of interesting things to think about. Like I know some people who will buy 'throw away tack' every year to change the look rather than stick to quality which is always a great look I think :-) In our business we can't really compete with 'over there' and big production if we're one-person shows so to speak, so I was hoping quality still mattered to someone. And I was thinking quality in ratio with the price, not some exorbitant price. You guys were a big help. Cheryl

[Glendon]

Quality does still matter to some of us. I've been thinking about this sort of thing quite a bit recently. Over the last year, I've been buying quite a bit of furniture. You know, replacing the cheap wally-world and thrift store college crap. Where I have been spending most of my money is a local unfinished solid wood place. I'd rather pay $70 for a solid pine end table then $40 for MDF garbage. Is it the best you can get? No. They are still comparatively cheap, but they will last for a good while.

I think most people still go for what years ago my mom dubbed "middle shit". Good quality, more expensive, but still within their budget. They can't or won't pay the high end prices, but still don't want to replace things regularly

[DoubleC]

I agree Glendon, or at least that's what I get. I don't buy the name brand just for the name stuff, but quality I can afford. I don't buy wally world crap as something to 'live' in my house, just their dog food, paper products, etc. I never even glance at their furniture now that I think about it. My sister works for them, i shouldn't knock them so much but I truly do hate getting outsourced goods. Cheryl