So, it's week 2 of Web Business Creation MKT250 at BYUI. Time to start a reflection journal.
This is one of those classes that you know you need, but you really don't want to do it. I love to create, but when it comes time to market what I have created let's face it, I am awful. The approach for this week isn't so much just a straight dive into marketing efforts, but looking at keywords that will drive better results, and estimating advertising costs to get someone to actually click through. What is becoming painfully obvious is that it is nearly impossible to create a new inexpensive (under $5) product. When you consider the cost to get a click can be up to $3 and the ability to convert a click into a sale is even tougher, it's amazing that a dollar store is even possible.
I do like the demand and cost based approach of deciding what portion of a given market you should pursue. In another class, we had an interview with the entrepreneur that developed the heated jacket. He talked about how many ideas he went through a test marketing campaign before he found one that people were actively searching for and he could produce.
Right now, looks like everyone needs a garbage man.
