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Final Report. Helena Chiu March 28 th , 2012. Venture Introduction. G rowth opportunity within a small enterprise Located on 369 Yonge Street, in downtown Toronto

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Final report

Final Report

Helena Chiu

March 28th, 2012

Venture introduction
Venture Introduction

  • Growth opportunity within a small enterprise

  • Located on 369 Yonge Street, in downtown Toronto

  • Project name is “Drinks and Desserts”, and the purpose of this venture is to increase sales for the restaurant, and increase options for consumers

  • I wanted to promote something that is between the price point of $2.00 to $3.00

  • In the end, we launched a series of fruit juices, milk-shakes, and small desserts.

The team

The TEAM consists of four people in total:

Student: Helena Chiu (Me)

I am responsible for designing the practicum, setting the objectives and goals. I am also the one deciding what strategies to use, how everything would be done, designing the process and the one who is generating the ideas.

Professor: Peter Miller

Peter was responsible for giving suggestions to what ideas and projects we could potentially do, and guide the process of the practicum.

Professional: Vincent Chan

Vincent was responsible for giving professional advice and teach strategies and give expertise.

Student Advisor: David Bremang

David was responsible for helping keep the venture on track and evaluate ideas.

What i learned
What I Learned

  • Process of creating a new product to promote in a restaurant

  • Leadership and creativity skills.

  • Must take more time in gathering information of what your customers like, it would be beneficial to attracting more consumers to buying the product

  • Improved workflow by having people do assigned tasks

  • We could have been prepared if we had spent a little more time on seeing what the consumer’s preferences were.

  • For the people who come in for the all-you-can-eat menu, the consumers find more value in a refillable $1.75 drink, compared to fresh juice and milk-shakes that were for $2.00 and $2.50.

  • Overall, the experience was helpful, it allowed to me to take a deeper look into the process of launching new products, and decided what drinks and foods to carry in a restaurant.