NESTA Class meeting - Hub 1 - 06/03/13

NESTA Class meeting - Hub 1 - 06/03/13

Who's buying into your product/business? 

* We can base our answer on our gut feeling
* Or we can do market research - Asking members of the public on the street etc


Defining your customers

Customers come in all shape and sizes and you need to be able to respond to all of them. For the next exercise, figure out who your customers are. Include why they will benefit from your business. 


Market Research

* Internet
* Nich'e market
* Published market research - Trade publications, Trade organisations.


Field Research

* Focus groups
* Surveys
* Qualitative research - Give out testers and have customers decide. 


For the next 10 minutes we worked on work sheet 3A from the NESTA pack. I found this enlightening as i did not realise the potential profit of my magazine could be so much. Obviously material fee's, rent  if i work in a office (and if the company expands pay roll) will have to be taken of this total. I did not know what to expect from this module when i first started but Im find the prospect of starting this magazine to be exciting. 


You promise your customers that you will deliver either a product or service. Your customer will have an expectation that this promise is going to be kept, and that you will work with others to enable that promise to be delivered. 

Blueprint Modelling 

Engagement stage - (backstage) Taking time in planing with you customer to persuade 
                                      them to buy in. 

Development stage -  (onstage) Showing customers your prototype

Delivery stage - making reviews, presenting to clients etc


How do I imagine my business operating?
How will I find and engage my customer?
How will I generate what they want?
How will I distribute what I generate? 


We took another 10 minutes out to fill in worksheet 3B which required us to create a Blueprint model. This involved looking at the process of setting up your business, networking your idea, market research, creating a prototype and distributing your product. 

Relationship modelling

How do you find someone to help you?
Why would anybody help you? 
What sort of deal can you expect? 

What is in it for the person that helps you? can you provide a share in the business, a return in money plus interest, a job etc.


Another 10 minutes on sheet 3C (Relationship modelling). Here we were to look at the main points/people in the process. For example I will be the generator of the magazine but myself and the printer will be the Realiser. If I was to hire staff they would also become the 'realisers'. As for Distributors, this can be done through agency word of mouth, visiting agencies/uni's/college. The customer is who I will be selling to. So Agencies. Uni, colleges, students. tutors and perhaps shops. 


Generator = You
Realiser = the person creating the product (like the printer)
Distributor = Might be you
Customer = (the obvious title)