Challenges and obstacles are bound to be faced by every entrepreneur in operating their business. For our team Nuts For You, a few challenges were faced during our production and marketing our product. The first obstacle that has affected our team is when we noticed that a few students have decided to run a business just like ours. When there are a few market selling the same products, it is hard to conquer the market as they have their peers who support and focus on their preferred business. Thus, it affects our sales rate and revenue.
Next, the biggest obstacle was the price of our products. Since we are competing with other businesses, our market had many different alternatives and choice on which snacks they prefer. During our operation time, there are businesses who focus on desserts which were sold at price ranging from RM6 to RM10 for one. In addition, some snacks that are sold in Cafe have low price. This is affecting our business in terms of the affordability and student’s weekly budget as statistic shows that each student typically budget their daily expense to RM20 per day. This includes their breakfast, lunch, and their daily transportation expense. Therefore, the purchase decision is affected due to the price that we have set which is RM14 for a pack of peanuts.
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