Abstract:
Nderitu passionately desired to expand his education to include an undergraduate degree from one of East Africa’s top private universities. The problem facing him like many prospective students is school fees. So, Nderitu took an innovative approach. He scouted out the few top private universities taking special note of student purchasing habits and the availability of products in shops and stores around the campuses. Nderitu intuitively noticed that university women often lacked access to quality beauty products and they frequently traveled into the Nairobi city center to pursue beauty options and cosmetics. Inasmuch, Nderitu determined that he could fund his entire university education by setting up a high-end hand crème and lotion distribution business in whichever campus he chose. However, Nderitu ran into problems with his customer segments’ expectations on product pricing. Some women desired to negotiate prices for the beauty products while others wished only to see fixed prices meanwhile others clamored for quality cosmetics without any inclination to pay premium prices. In short, Nderitu discovered the classic entrepreneurial pitfall of pricing goods and services.
Description:
An article on the Business Daily Newspaper by Professor Scott serves as the Director of the New Economy Venture Accelerator (NEVA) and Chair of the Faculty Senate at the United States International University-Africa,
