Reflection

This document is a reflection on a business idea inspired by athletes and the process of designing and launching a T-shirt product. It discusses the target customer segment, budget, expenses, and challenges faced. The document also highlights the skills and knowledge gained through the project.

Reflection

Our business idea was inspired by number of athletes those use to play different games
but do not have proper facilities and particular cloths to represent that sport. Me and my team
decided to fix the most suitable prices for T shirt so that each and every sport lover can afford to
fulfil their requirement (Corsaro and Molinari, 2012). My team research number of concepts in
order to prepare most suitable T shirt which will satisfy the customer group and make them feel
comfortable while wearing that T shirt. We plan to name the product which can influence people
and leave a good brand image on their mind. Member of team agreed on the idea that name of
company would be Pyro-co which is derived from the famous Egyptian pyramids. Our main aim
is to complete the need of customer and make profit on regular basis so T shirt are made with
best quality supreme cotton which is brought from Egypt. This will give best comfort to our
customer and is light to wear and absorb sweat which makes easy for player to play sports. The
main targeted customer segment of our company are young players mainly age group of 18 to 28
those are more attracted to play various sports activities. Our plan to design and prepare 25
different types of T shirt for man and women so that they can prefer suitable design to represent
the kind of sport they use to play. Our company have total budget of 200 GBP in which allowed
variable cost is 180 GBP and Fixed cost is 20 GBP. The total expenditure on buying 25 coloured
T shirt is 7 GBP for each piece and the total amount is 175 GBP. Similarly the advertising and
promotion or other activities expenses are 20 GBP which bring product in the notice of desired
customer. We allocate variable cost in a manner that 25 T shirt of colour print are purchased at 7
GBP that is within budget of 5 GBP. On the other side fixed cost includes various marketing
activities such as Facebook, Instagram, Twitter, Leaflet, You Tube, Word of Mouth and
sponsorship. Cost for 10 leaflet at 0.45 GBP each is 4.5 GBP and 1 Sponsorship at 15 GBP is 15
Pound thus the company expenses are within allotted budget. The T shirt design will hold special
icons that represent different sport activities, so the buyer can choose the option depend on their
preference (Kane, 2013).
We are also planning to add one new feature to our product that customer can make a
order to print their name on T shirt which will be more attractive and display the name and sport
of player. The overall project of my company is good and we are able to launch product on the
specific fix date. However there were some issue which we faced such as the cotton was not
easily available as supplier are charging too much cost. Most importantly we want to attain good
position in competitive market therefore we focus to increase sales at lower selling price with
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little profit (Graham, 2013). In the whole project, I have learnt number of skills and gain
knowledge about working in team and have a sound communication which help to deliver and
understand the important message. In addition, I was also able to be creative while designing the
T shirt pattern and design for customer. I was able to develop the skill of decision making
because when we are making choice of purchasing cotton me and my team comes to a profitable
decision of buying the require cotton from Egypt.
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REFERENCES
Books and Journals:
Graham, E. ed., 2013. Theological reflection: sources. scm Press.
Kane, R., 2013. Reflection groups and invariant theory. Springer Science & Business Media.
Corsaro, W. A. and Molinari, L., 2012. Entering and observing in children's worlds: A reflection
on a longitudinal ethnography of early education in Italy. In Research with children (pp.
191-212). Routledge.
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