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Journal

 Journal Composition

Special friends and David,

With this week class, according to the further more research we all did a week ago, we better related details of our business model canvas. The moment children enjoy our goods, it is easy to shed some parts. Due to this condition, we consider we can make use of strategy of " PICK-A-BRICK” to solve this issue. Customers can purchase the parts which they misplaced in our retail store instead of ordering whole goods. It not only can help customers save money although also provide convenient for them. Additionally , it also in a few extent increases the chance of buying in our retail outlet. Sometimes, that they just want to buy some dropped parts, yet once they see some new items, they will attempt to buy, specifically for children. In addition, we also believe a new important partner: Gray market. For people who do buiness, it would play a role in efficiency and significant decrease the costs. We all still think some syndication channels- JustBricks Australia, which is online LEGO shop. However , it even now requires discourse on this strategy. Marketplace size---we identified that the crucial customers from the Lego happen to be boys outdated between several and eight and the households which emphasis learning, activity and imagination. From interview of a lot of customers, we all set our hypotheses upon customers' concerns, such as Seglar are too high-priced to buy frequently for kids evaluating to different toys, some customers want to have their own Lego creations although lack of bricks and helping ideas or perhaps families need to kids participate alternative activities, for example sport, computer or perhaps reading, instead of playing Profano. Through a few experiments, we found most customers want just minifigures not entire established, most of customers do not know they are paying up to 30% more comparing towards the US and etc. by inspecting the result, all of us decide how to proceed next. All of us will expand boundary of target market and refined price structure and pricing unit. There are still a lot of thing needed to consider. We will continually improve our business model.

In Tuesday course David...

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