This week is the beginning of Term 3. First of all, during the holiday, I have already decided on my business idea for the Progression Project. I did a series of research through Vogue, WGSN…, and also completed the proposal. My idea is about creating a brand to provide personalized services to office ladies, creating their unique tote bags. I also considered many aspects when I do the research, such as the requirements of office ladies, and how to create the Unique Selling Point for my brand.
In the first business workshop, we discussed ‘primary research’. From my perspective, this Progression Project will more focus on getting primary research than term 2. During the group discussion, I and my group mates explored different ways to obtain primary research, such as questionnaires, online surveys, interviews, and so on. However, we found that these methods have limitations in some aspects. Because when we get consumers’ thoughts and opinions, their words are subjective, and it also takes a lot of time and money in the whole research process. But primary research is essential for a business idea, for example, we need to understand the requirements of target consumer groups in order to attract them more.
In the second business workshop, we did a review quiz and discussed the “Buying Decision Process”. This quiz comprehensively reviewed and sorted out the business knowledge I have learned before. I have more clarity on the structure of this portfolio and what I need to investigate through this quiz. Also, the discussion about the customer buying process inspired me a lot. On the one hand, I learned about the psychology of consumers and the factors that determine their purchases before deciding to buy a product. On the other hand, this is closely related to the course (buying and merchandising) that I want to study in my undergraduate.
In conclusion, I will obtain primary research through questionnaires to understand the requirements of my target consumer groups and how to adjust them. In addition, I will combine the research with my undergraduate course to gain a more in-depth understanding of consumers’ buying decision process.