Last Thursday we had our formative presentation.
"Overall comment including strengths and areas for improvement
Interesting idea but has, in some form, been tried and failed before and there are alternatives (e.g. http://www.reflexstudios.com/). More background research is necessary. Direct and systematic comparison of the competitive environment will help your cause (detailed SWOT) and for highlighting any USPs. Need to provide evidence and justification for your claims. Unclear whether the available technology can overcome problems. Could consider changing the target audience to children that are more easily impressed and less likely to be bothered if their t-shirt unexpectedly changes colour from, say, sweat. Perhaps you could direct your business model towards producing cool designs? Good if you break down costs further and produce a justified cash flow graph. Good work with your logo but more thought into branding and how this can be applied in all areas of your business, as a way of supporting business sustainability. Some thought behind promotional marketing. Good visuals in the presentation, and good job defending your position."
As a group we now need to meet and decide what direction to go in. Are we going to change our target audience? Or adjust the product so that it appeals more to our existing market. We also need to look into t-shirt designs, where we can get ahold of the dye and shirts and buy in batch and how much to charge. A little more research into our competitors is also a smart idea so I will bring these issues up during our next meeting this Thursday lunchtime.