This week we met with our advisory board. We received a lot of feedback in regards to our prototype. Many of the advisors felt that this will be a make or break for NYX in order to prove the feasibility of our product. Based on this feedback we have decided to focus a little more energy into the prototype design and produce it in stages to get the best results.
During our Friday meeting a marketing strategy was developed for our first and second years of operation. We decided to focus on professional sport team’s trainers. Involving them in our sales process will give us an advantage over competition because it will promote the use of our product within teams. We hope that this will help to encourage brand power, development of the product and initiate a strong first movers advantage to keep out the competition.
Something our team finds challenging is keeping our meetings and ideas relevant to where we are with our development of NYX. We are all dreamers and like to plan above and beyond what is needed for this stage of NYX. We are learning to keep a tight focus during our meetings.
In the upcoming weeks I will be working towards further developing the prototype. The plan is to start small and build in complexity as I learn about products, fabrics and the competition.
Categories:
Individual Blog Postings