PGS Pupils have found themselves making unexpected market research calls for The Lean Start Up Ignite course. Three young entrepreneurs have come up with the idea of an app to help teenagers choose (and then buy!) their perfect outfit online. By using personal networks they got a chance to interview International Male Model Silvan McGhee to understand more about the fashion industry, understand more about their target market segments and to get validation on their business idea.
“I was really nervous when I started talking to him, but I ended up learning loads about the fashion industry and he even ended up interested in the App!” said Jamie Reynolds Lower Sixth
Jayne Cheung conducted interviews with under 20s as part of the market research group. “It validated our central assumption that many teenagers are very focussed on how they look. However market research highlighted a risk that our App might be similar to Pinterest so we needed to pivot the product to be more differentiated”.
Freddie Willing, Jayne and Jamie will over the course of the term use the market research to develop their business idea: the best idea will be voted at the Year 12 assembly later in the year!