Geoffrey’s blog – Friday 26th October
The Group met for the 5th time on Friday 26th October to develop, with expert assistance, a business model for the product. Whilst the purpose and production of such a model was clearly understood the actual plan content appeared to be somewhat vague due to a variety of factors and these became all to obvious during the two hour discussion.
Practical issues, as yet unresolved, include the physical form of the product, manufacturing costs, product quality and possible variants (portable version and fully installed version).
These problems, which only became fully apparent when trying to build the business model, need resolution prior to deciding market identification and marketing strategy.