Entrepreneurship Series

Explain the concept of market and market identification. · Plan product mix. · Determine services to provide customers.

You are to assume the role of the owner of COLLECTION, a new store that sells comic books, trading cards and other collectibles. Your business partner (judge) wants you to analyze a pivot in the primary customer base and determine if additional products and services are needed. COLLECTION opened nine months ago. The store features a large inventory of various comic books, several brands and varieties of trading cards, record albums and collectible figures. The store opened as a fun place targeted toward young collectors. You envisioned a primary customer base aged 8-15 years old and created promotions marketed to that age range and planned special after school events to cater to that crowd. Surprisingly, the primary customer base at COLLECTION is adult males age 35-54 years old. These COLLECTION customers have been lifelong comic book readers and have many collections of trading cards and figures. The young customers that do visit COLLECTION are the children tagging along with their parents. The business partner (judge) wants you to analyze the pivot in primary customer base from children to older adult males. You were planning on adding merchandise aimed at children; however, your business partner (judge) wants you to determine if additional products and services should be added that will attract the actual primary customer rather than the intended primary customer. The business partner (judge) wants you to plan products and services for the best choice. You will present ideas to the business partner (judge) in a role-play to take place in the business partner's (judge's) office. The business partner (judge) will begin the role-play by greeting you and asking to hear your ideas. After you have presented your ideas and have answered the business partner's (judge's) questions, the business partner (judge) will conclude the role-play by thanking you for your work.