Reply To: PAB product opportunity

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Beate
Participant

Hi Isaac, thanks for your comment. The funny part of it is, that I did not even know the expression ‘outlier’ before having watched Mod 4 Product Analysis, section 4, PAB 1 Market Research from Kirsty. She explicitly gives the hint to exclude outliers from the counts and shows examples for it. I watched this video about 5 times, as this for me was the most difficult part to understand over all your training videos. From what I learned there, this is the point, where my personal evaluation should come into the ‘game’, as I have to decide, where I want to go, with whom and with which product I want to compete. I see your position, when you say, that you do not recommend leaving out any number, as this really changes the ‘game’. I understand the importance of the market research. But these numbers only affect my launching costs, and those are driven extremely high, when I also consider the discussed outliers, which will lead to the effect that I might have way too much units in stock with my first order (and the fees for stocking will add to the high launching costs), on the other hand it would be simple, reordering units, when I observe within the first few days and weeks, that I sell more than expected. Therefore I came to the conclusion, that Kirsty’s outlier advice is worth gold, if you evaluate the ‘picture’ correctly. Furthermore, we discussed the outlier issue several times in the group, although the others are not ‘my business’, you should be aware that probably everybody fills out the spreadsheets under the given advice. Nevertheless, I reevaluated this product without removing any data, and it would look like as follows HERE

Would appreciate your feedback on it as well as on the issue, discussed above – thanks!

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