Financial Expedition Reflection
The first day of finance was a field trip, but I was ill and did not go. The field trip took the senior class to a place to undergo a shartank-esque business pitch. On Tuesday, we began designing our product and business. We started on our first business plan. On Wednesday, we continued to work. We also went to Vons, where we chose a product we wanted to analyze. We looked at its position in the store, its price, how/if it was promoted, and the target demographic. My product was Sriracha sauce. It was on the bottom shelf and cost around $5. It was meant for adults, particularly ones who participate in Asian culture. While we were standing outside Vons, the owner of the great clips started talking to our group and offered us a student discount. Somehow, it escalated to her offering a free haircut, with Jonah accepting. So there we were, a small group watching Jonah getting a cut when everyone else caught up. Mr. Hensley was confused, but managed to get the owner to explain how she started her business. All 30 of us were crammed on the floor of salon. The next day, we began working on an new product as the old one was very poorly thought out and would not be able to complete in a week. We began on a new business plan as well as a new product design. We also went to MXN to observe the differences between Vons and MXN. We recorded the layout, customer base, and what consumers consumed at both locations. On Friday, we brought in our materials and created our product, the Badger Band 0.5. We used backpack straps, elastic bands, and Velcro held together by hot glue. Afterwards, we went to the Food Court and analyzed the benefits and cons of having a food court. I noticed that the movie theater was a key component in the design of the building. On Tuesday, we finished our business plan. Wednesday, we presented our product and then watched American Greed.
During the week, we worked on either a video or business. My group decided to create a business. Our initial idea was the Armadillo, a small, sleek, inflatable arm pillow that you wear on your arm. We created sketches and even created a prototype using a ziplock bag. However, we decided the product would be too complex to create in such a short time and initial testing did not go well. The arm pillow wasn’t very comfortable. We were out of ideas and were already two days into development. We were behind. After much thought, I came up with the idea for the Badger Band, a band that goes around your wrist which holds pencils, erasers, and usb drive. We took materials from old backpacks and used hot glue to put it together. We glued a piece of velcro to my USB drive and glued a complementing Velcro patch on the band. We also glued the pencil holder and eraser holder to the backpack strap which attached with a Velcro strap. The product was comfortable and functional.