Reflecting on my experience working on Soup & Bread, I learned a lot about building an expansion strategy, as well as launching a product 0-1. Throughout the process, I learned valuable tools such as TAM/SAM/SOM, competitor analysis matrix, and user journey mapping that I will take into my future academics and professional career.
One area in which I think we did well was identifying our market based on the product that we were given. We had a little bit of a different challenge—we already had an established product and we’re looking to expand our base. This provided a different challenge for us since we had to identify specific markets and expansion opportunities. While we workshopped a lot of different possibilities, I’m proud of what we eventually settled on and the market we’re trying to pursue, along with the research and creativity that comes with it.
An area where I think we can improve is the financial aspect, which we also got feedback on during our pitch presentation. In particular, I think we could have calculated the by-margin-cost and have clearer pricing strategies, which would also lead to a more accurate ask by the end of the pitch.
In general, I learned a lot about launching a product in terms of growth and expansion, it also taught me me the importance of articulating not only what makes a concept exciting but also the details that make it feasible. Moving forward, I’m excited to keep refining this project with a clearer vision of how to bring Soup&Bread to life.
Comments
Comments are closed.