The euphoria
and excitement was upbeat when we the team of 5 (@IPMX-5) took up the ownership
of L’store from the previous batch; who started this venture last year. This
store not just embodies the spirit of entrepreneurship but also provides a
sense a kinship and belonging to the college. To experience the application of
all the gyan which we were getting in the class made the whole venture even
more thrilling. Talk about MBA jargons and we were already knee deep in it, be
it 4Ps of marketing, inventory management, Account receivables/payables, market
research, price elasticity etc…
With childlike
excitement and unbridled enthusiasm we started our first day in store at 5.30pm
on hot summer day in May and tried to sell to everyone and anyone coming to the
cafeteria. I got busy cajoling and convincing customers when suddenly I
realized that all the others (all guys) were missing and there was a weird
lull, so I went to check at the stall and sure enough the “boys” were making
the first sale to a very nice lady from wmp “Almitra “ . I must say
whatever the reason for the collective effort we succeeded in making our first
sale :) and there was no looking back.
It’s been 2 months since then and we’ve got a feel of
what it means by “customer’s always right” and the importance of proper/clear
communication in marketing. Dealing with vendors and logistics is a whole
new ball game.
Whenever I am at the stall and fold piles of t-shirts
I remember Rajbeer’s (founding member) observation of having new found respect
for the salespeople in stores.
