FINALS
Hypothesis Testing
WHAT WE TRIED:
VALUE PROPOSITION
We conducted an interview, asking the students what their plans and preparations were for the opening of classes.
EVIDENCE/DATA
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It worked because the interviewees all stated that they did not yet have a concrete plan. They are having difficulty determining what school supplies will be required, so this is one of their current concerns.
WHAT WORKED:
WHAT WE TRIED:
VALUE MAP
We tried to share our business channels to our customers. We answer all of the inquiries we received from them as well as send our pre-order form for the proper assistance.
KEY ACTIVITIES
We tried to share our business channels to our customers. We send them our pre-order form and ask their feedbacks about our product’s quality and business’ services.
EVIDENCE/DATA
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It worked because based on their answers from our pre-order form, we saw their feedbacks where they said that they are satisfied with the service and product that we are offering.
It worked because we receive positive feedbacks. As well as suggestions on what things that needs improvementin our business.
WHAT WORKED:
WHAT WORKED:
WHAT WE TRIED:
CUSTOMER PROFILE
We tried to communicate with students from different courses via messenger about what school supplies they considered necessary.
CUSTOMER SEGMENT
We tried to communicate with students from different courses via messenger and other business channels.
EVIDENCE/DATA
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It was successful because we gathered a wide range of school supplies that will certainly be used in a variety of courses.
It worked because as for all the inquiries we receive from our business channels, they are all college students for the upcoming school year and we found out that they are really interested in our business.
WHAT WORKED:
CUSTOMERS RELATIONSHIP
We tried to share our business channels and responded politely and patiently to all customer questions.
WHAT WE TRIED:
WHAT WORKED:
WHAT WORKED:
WHAT WORKED:
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ALL EVIDENCE FROM FACEBOOK
It worked because we received a lot of inquiries and they are glad about our response and by that, we think we build a good relationship with them.
EVIDENCE/DATA
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ALL EVIDENCE FROM INSTAGRAM
REVENUE STREAM
We tried to sell different products and did the pricing tactics. We tried to have bundled products and retail products.
WHAT WE TRIED:
WHAT WORKED:
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EVIDENCE/DATA
It worked because, according to the owners, they knew what needed to be done with the resources It worked because we discover the real indicators of price effectiveness. So by this tactic we maximize our profits. Also, according to the result of the pre-order form the bundled supplies has more buyers than the retailed price. Were given. They gladly accept it and promise to care for it.
KEY RESOURCES
The Meethin owners tried to conduct a meeting about the launching of the meeting and distribute the resources to manage it well.
WHAT WE TRIED:
WHAT WORKED:
EVIDENCE/DATA
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It worked because, according to the owners, they knew what needed to be done with the resources they were given. They gladly accept it and promise to care for it.
COST STRUCTURE
We tried to categorize and break down all of the orders from the pre-order form.
WHAT WE TRIED:
WHAT WORKED:
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EVIDENCE/DATA
It worked because we were able to identify our actual expenses and come up with a strategy for effectively managing them.
KEY PARTNERS
We tried to find a company that could be our partner supplier.
WHAT WE TRIED:
WHAT DIDN'T WORK:
It didn’t work because there’s no company willing to be our partner since we are just starting the business and have no assurance that we will continue this business.
WHAT WE TRIED:
CHANNELS
We tried to make the channels listed in our business model canvas. We tried to post in each page to gain engagement.
EVIDENCE/DATA
It worked because there are a lot of people who invested their time in liking and following our page. Our pages reach more individuals.
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EVIDENCE/DATA
It worked because there are a lot of people who invested their time in liking and following our page. Our pages reach more individuals.
EVIDENCE/DATA
It worked because there are a lot of people who invested their time in liking and According to the number of engagement, our Tiktok Account didn’t worked. Only three people liked our videos and only 2 followers so it is not the right channels for our business.our page. Our pages reach more individuals.
WHAT DIDN'T WORK:
WHAT WORKED:
PROFIT
We tried to list the original price and srp of all the orders from pre-order and compared them to find out how much profit we earned from 20 people who filled up the pre-order form.
WHAT WE TRIED:
EVIDENCE/DATA
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It worked because the data we gathered showed that we could earn a lot of money in just 20 orders from 20 people.
WHAT WORKED:
CONCLUSION
So first our business was named as Meethiin. which is a counterpart of the filipino term mithiin which means pangarap or dream. We built this business because this is the main problem that the youth is experiencing right now, their dream. With all of these negativities that are currently happening in our environment, in our society, the youth are questioning how they will be able to reach their goal. Their dreams that they build since they was a child. That’s why, with that reasons, we are hoping that with this platform that we constructed will help them regain again their energy and fight again for their dreams.
In overall aspect, there’s no problem with our business. The communication between the owners and staff is fluid. Credits to the 3 years of friendship between the owners. When it comes to the activities from brainstorming, construction of business model and value proposition canva up to activity 13 which is the experiment, that we a need accomplish throughout the sem, there’s no problem with our group specifically the system that we use since day 1. Everything runs smoothly. There’s one thing that we fail to utilize because of the lack of time and connections, but if given a chance to pursue this kind of business in the future, we believe that we can turn that failure into success.
One thing that we learned from this experience is that we should know how to recognized the needs and wants of our prospect customers. If we fully understand the problem that they are experiencing, we will be able to know also the things that we need to do in able to solve those problems. Yes, this will not guarantee the success in our business specifically in terms of the financial aspect, it is successful but just in the midrange area. But in terms of emotional, physical and mental aspect, we will be able to help them rise again. And that’s the kind of system that we also want others learn from us. Create business that will not just generate income or money, but also improves the lives of the marginalized. Again this is Joshua beraquit, together with ms Julianne Earl Basilio, Ms Patricia Balisi, and Ms Leona Tovera. owners of Meethiin. Together, lets make your dreams happen
Thank you and have a nice day!
