Instead of providing me with the answers, I was invited to a business talk happening a few days later at a different location. I know and understand the marketing tactics these people were using. In fact, I teach this in my marketing course. So, I decided to round up some of my buddies and attend the talk. Lets hear them out and experience marketing at work.
After the presentation, we were furnished with some details and data which we could get started with more in-depth research. I concentrated on the financial research and tabulation of forecast proforma budget while someone else does the market research. After getting the tabulated results, we got together again to discuss our next step and share our personal requirements to start this venture.
We met with the vending machine operators several more times but they were unable to satisfy our requirements. In the end, we decided to let it go and did not pursue any further. But we all learned from this exercise and most importantly new respect for each other as friends and business entrepreneurs.
