Experience teaches and how much? One does and then begins to learn, so did we…. Read on

It’s been approximately seven fun and learning months that we have been introduced to the course in Masters in Business Administration at Fr. Agnels’- Our home away from home. From day one it has been books and laptops, projects and power points, lecture halls and computer labs, analysis and planning and a lot of absorbing.

It is in this seven months that all our learning would translate into action. The reason : ‘FABS Market’ . To guide and mentor us through this ride it is our dear Prof. Rakesh Walke and his skillful mind.

We are left clueless when we first hit upon the idea of FABS market, questioning and thinking. Soon we are divided into groups to form an entity with five or six business partners.
It’s in the four walls of the class room, when the first thoughts are spoken and the initial idea conceived that FABS Market officially kicks off. Along with the group of entrepreneurs who are now scratching their heads to work their best business plan, there are a bunch from the class who volunteer to ensure the event is organized flawlessly. The committees thus formed include a PR committee, a Publicity/Creative committee, a Logistics committee and an Accounting committee.

It’s in the four walls of the class room, when the first thoughts are spoken and the initial idea conceived that FABS Market officially kicks off. Along with the group of entrepreneurs who are now scratching their heads to work their best business plan, there are a bunch from the class who volunteer to ensure the event is organized flawlessly.

The committees thus formed include a PR committee, a Publicity/Creative committee, a Logistics committee and an Accounting committee.

Demand forecast – a term we learnt about in class would now come in handy as we became invigilators surveying the campus-our consumers- to understand their wants. The entire campus was surveyed so as to forecast demand, to tap the pulse of our market, to make available what our consumers fancy, mending and reworking our plans wherever necessary to maximize profits.

On one hand there was market research being conducted, on the other the campus seemed more into the mood as whacky banners and ‘must check out’ sign boards drew eyeballs. As the event date neared, the buzz and anticipation for the event grew as each team geared and got creative to out beat the other.

We now ‘Zoom in’ directly to the day of the event, before we do -about the date chosen- the big day chosen is 14th of Feb- a day strategically picked. While all (a chunk of above 3000+ individuals) are in a jolly good merry moods, for us and our business heads it is the most favorable day to ensure maximum sales. And how true does this decision turn out to be!!!! The morning of 14th Feb at Fr. Agnels,’ Vashi begins really early, especially for the logistics team who ensure the area allocated is up and ready as desired by each of the ten groups. Once this is done, each group very enthusiastically design and set their stalls with colorful signboards, chart papers and other creative’s. This, to guarantee outright stock emptying sales.

The promotional strategies undertaken by each groups is unique and catchy. Some use the roads, some the coconut trees, while others use themselves, putting into practice the nomadic marketing tricks we learnt in our Marketing class. Once the pace sets in, time just wouldn’t wait, big crowds gathered around every stall , some betting , determined to double their pocket money, others treating themselves to the yummy snack. On sale you would find handmade bookmarks, mat footwear, funky accessories and bright and bold t-shirts. Services included a palmist and a signature analyst.

As time went by the crowds kept increasing until we emptied our stock. In the afternoon the Pepsi- colas made good business that reminded the lesson on how to provide what the customer needs and sale will automatically happen.

All of this noise and organized chaos ended around 6 pm. A day very productive and a sense of achievement could be seen on our faces, we worked and we succeeded, we basked in the glory of the first steps we took as entrepreneurs , while we gathered , counted and smilingly collected our share from the profits. While all this happened we were being judged by 20 odd judges for our creative selling techniques, the products and services we sold and to the profits we earned.

All the ten groups were judged accordingly. All and all this day the 14th of Feb’09 for us was exceedingly rewarding and will be dearly remembered.