SITUATION
In 1998, Rosie Herman was in debt up to her ears. Years of fertility treatments had left her owing $75,000 She needed money but did not want to leave her young twins while she worked. So she turned to what she knew best. Herman had been a manicurist for 20 years and put this experience to use. She focused her atten tion on creating a body-care product. Mixing a combina-tion of oils, sea salts, and other organic products, she came up with what she thought was a winning product. She was the guinea pig (what we refer to as a test mar-ket) for her product and found that the lotion she had created was perfect for treating her own skin, which ha( become dry and cracked from exposure to chemicals and water in her career as a manicurist.
Source: Sara Wilson. Skin Deep: Entrepreneur, January 2005 p. 21.
1. What type of research could Herman do to estimate the demand for her skin-care product?
2 .How might she raise the funds to start up her small business?
3 How could a marketing plan help Herman be more successful as her company grows?