💸📉 Low-Cost Business Showdown! 🎯 | Baamboozle - Baamboozle

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🎯 Challenge😄: Create a crazy low-cost business idea in 30 seconds! 🚀. 💡idea / cheap / unique 🔗 Imagine

Model answer: Imagine a cheap subscription-based service for renting office space by the hour.

🎭 Roleplay:👤 Student A: Investor .👤 Student B: Startup founder

🎯 Task: Convince an investor your low-cost model will succeed 💡scalable / profit / strategy

🌍 Scenario: Your company wants to copy Shein’s on-demand model. Good idea? 📦 💡model / flexible / demand 🔗This could be

Model answer: This could be a flexible model that responds quickly to demand.

⚖️ Dilemma: Invest in sustainability or keep prices low? 🌱💰. 💡although / sustainable / expensive 🔗 Ideally

Model answer: Ideally, we should invest in sustainable practices, although they are more expensive initially.

💬 Quote: “If it’s cheap, you are the product.” 📱

👉 What does this mean? 👉 Do you agree?

🗣️Opinion: Is overconsumption driven by low-cost business models? 🛒 💡 overconsumption / influence / behaviour 🔗 It seems that

Model answer: It seems that low-cost models influence consumer behaviour and increase overconsumption.

🗣️Opinion: Should governments regulate low-cost companies more strictly? 🏛️. 💡 regulation / protect / consumers 🔗I would argue that

Model answer: I would argue that regulation is necessary to protect consumers from unfair practices.

⚖️ Dilemma: You discover your company’s low prices depend on questionable suppliers. What do you do? 😬. 💡even though / ethical / reputation 🔗From my perspective

Model answer: From my perspective, even though it reduces costs, it could damage our ethical reputation.

⚖️ Dilemma: Your company can reduce costs by cutting customer service. Do you do it? 📉📞.💡although / trade-off / negative 🔗 On the one hand

Model answer: On the one hand, it’s a clear trade-off, although it could have a negative impact on customer loyalty.

🗣️ Opinion: Why are customers so tempted by cheap deals even if they don’t need the product? 🛍️. 💡because / tempted / impulsive 🔗 I believe that

Model answer: I believe that customers are tempted because of impulsive behaviour and attractive pricing strategies.

🌍 Scenario: Your company uses a “pay for extras” model. Customers complain. What do you do? ✈️. 💡feedback / transparent / pricing 🔗 To solve this

Model answer: To solve this, we should make pricing more transparent and respond to customer feedback.

🗣️ Opinion: Do low-cost companies always mean lower quality, or is that an outdated assumption? 🤔. 💡however / perception / efficient 🔗 In my opinion

Model answer: In my opinion, the perception that low-cost means low quality is outdated; however, many companies are simply more efficient.

🎯 Challenge :Explain “trade-off” in 20 seconds + give a business example ⏱️.💡balance / cost / quality 🔗 For example

Model answer: A trade-off is a balance between cost and quality; for example, cheaper production may reduce product quality.

🎭 Roleplay:👤 Student A: Customer complaining about hidden fees .👤 Student B: Company representative

🎯 Task: Handle the complaint professionally 💡clarify / charge / policy

🌍 Scenario: A competitor offers much cheaper prices using automation. What do you do? 🤖. 💡therefore / automation / competitive 🔗As a result

Model answer: As a result, we should invest in automation; therefore, we can remain competitive in the market.

💬 Quote:, “Customers don’t care how cheap it is if the experience is bad.” 😤

👉 Do you agree? 👉 What matters more: price or experience?

🌍 Scenario: Your company wants to introduce a low-cost product line. What risks should you consider? 📦. 💡risk / brand / damage 🔗One risk is that

Model answer: One risk is that the brand image could suffer, which may damage customer trust.

🗣️ Opinion: Why do traditional brands struggle against low-cost competitors? 🏢. 💡 compete / structure / costs 🔗 The main reason is

Model answer: The main reason is that traditional companies have higher cost structures

🎯 Challenge: Give 2 advantages and 2 disadvantages of low-cost strategies. 💡advantage / drawback / efficiency 🔗 Firstly

Model answer: Firstly, advantages include efficiency and lower prices; however, drawbacks include reduced quality.

🎭 Roleplay:👤 Student A: Marketing manager .👤 Student B: CEO

🎯 Task: Decide how to promote a low-cost product 💡 Words to use: campaign / attract / target

💬 Quote: “Low prices always come at a hidden cost.” 💸

👉 Do you agree or disagree? Why? 👉 Can you think of a real example?