Saturday, December 25, 2010
Xavier's Loco Cocoa
Market Day 11/23/10
Previous sales at mini market day: 10 suckers
I think keeping track of inventory is important because on mini market day I didn’t count inventory and it really messed me up later on in this project with my accounting. It messed up my till on mini market day too because I didn’t know how much I sold.
Beginning Inventory: 42 total
(5) #1 Dad sold 2
(6) Butterfly sold out
(3) Football sold out
(5) Girl Designs sold out
(8) Mittens sold out
(5) Race car sold out
(6) Snowflake sold out
(4) Turkey sold out
(3) #1 Dad
Number of suckers sold: 47 out of 50 mini market day and Market Day combined.
total gross- 35.75
sucker income-29.25 MD 6.25 mmd
money invested for capital raised by Xavi's work -10.70
donation to united way -3.00
payment for mr.schiller- 1.00
TOTAL PROFIT = 29.20
Reflections on the entire market day project
I think I made good product because I sold a lot on mini market day which told me I had a product kids wanted to buy. I was happy that I sold a lot and gave my customers a good product. I noticed footballs and race cars sold a lot on mini market day.
Candy making is tough because you have to be very neat and patient to do the cooking and setting the molds up. But my Aunt Gail did most of the shopping and gave me the molds. In return I drew her a portrait for her Halloween party and she bought an easel and displayed it. She like it a lot. I also sent a thank you email. It is important in business to keep good business relations.
I think I decided on a good price for my suckers. A lot of people had exact change and were happy with the price.
It costs around .25 to make a sucker and I sell it for .75 so I make about .50 per sucker I sell. So that leaves me with a huge profit that I am very happy with.
If I could change one thing I did for market day it would be my advertising posters. I could have made them better by making the signs bigger so more people would have noticed them.
It is also important to have good product so no asks for refunds. If they did ask for a refund I would have given them their money back but ask for the sucker back too.
I really learned a lot about marketing with this project. It was really tough to under stand a lot of the money statements and conclusions. But at the end I found out the purposes of the organazation.