Schedule
In the following, the auction schedule is shown.
1-11-2010 Sign up the account for further development, such as Facebook and the account in
forum.
forum.
4-11-2010 Go out to find and buy the suitable sock.
8-11-2010 Take some product shots for the later use.
13-11-2010 Copy write the product description.
15-11-2010 Try to put all the information need on different channels.
Limitations
In the auction process, we face a lot of limitation in our promotion stage. As we mention before, we want to use yahoo! auction, Facebook and different fashion forum as our communication channel to the public. However, is it not easy to finish in these channel.
For Yahoo! action, when we sign up for the product auction. They require the telephone number that never used before and the credit card number for further application. However, in our group, we do not have used telephone number and the credit card number. This system in Yahoo! make us fail to promote in Yahoo!. After that, we try to find other popular auction page as our channel such as eBay. However, the same problem occurs.
For the fashion blog, we try to post in the Hong Kong fashion blog such as UWANTS.com.
However, the promotion is not allowed. They will delete all the commercial promotion about fashion. The regulations make the promotion process even harder.
At last, the final and only one promotional channel we use is Facebook. We open a fans page “ **socks for sale**”, and type the description and the method of purchase.
Here is the link:
Besides, for the previous proposal, we have decided that the price was $25. However, in the actual case, we decided to make the price $15 in order to attract more female student to buy as the price is much affordable than before. Therefore, we make a price change on selling the socks.
Promotion
Facebook is our promotion channel in this project.
The descriptions all type in Chinese, as our target group is HongKonger. They are more willing to see some text that they are familiar with.
Results
To measure the result, we would like to divide into two parts, awareness and sales.
In the term of awareness, this page has 18 people “like”. Although not all the people who “like” will purchase our product, that is great to get their attention and they may the one who can spread our page out, hence to get more attention.
In the term of sales, we sold 6 pairs of socks totally.
Celia Chung brought 2 pairs of sock.
Yoyo Tam brought one pair of sock.
Henry Chow brought one pair of sock.
Leo Yeung brought one pair of sock.
Sales report
Expenditure: socks x 6 $72
Revenue: socks x 6 $90
Profit: $18
Stock: sock x 0 0
To conclude, although we do not have much profit in terms of money, but we are satisfy about the result.
