In this lecture we were asked to think of a new business idea. It was about bringing up a new business idea that could actually be implemented in real life. A lot of brainstorming was done. We were 4 of us in one group who had to think of something not only new but some idea that was practically possible. We came up with the idea of opening a store that sells cardboard furniture. Due to its durability and eco-friendliness it could be the future.
Later, we had to fill a form for the Bright Ideas competition. This definitely gave me a nice platform to put forth my ideas in front of the experts. During the lecture, I also learnt a lot about marketing. One of which was about “word of mouth”. According to me, a brand which is able to fit itself in such marketing is something really fruitful. Its very helpful to the brand as a whole when people convey their brand to other people. This earns them a lot of goodwill and good reputation. This could be termed as the best way of marketing.