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 attention on creating a body-care product. Mixing a combination 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 market) for her product and found that the lotion she had created was perfect for treating her own skin, which had become dry and cracked from exposure to chemicals and water in her career as a manicurist.
Question 1 What type of research could Herman do to estimate the demand for her skin-care product?
Question 2 How might she raise the funds to start up her small business?
Question 3 How could a marketing plan help Herman be more successful as her company grows?