W03 Reflection: Sourcing the Product

This week we learned about sourcing product from a reputable wholesaler and the difference between affiliate marketing and drop-shipping methods of doing business. 

It is important to do your research when looking for a wholesale supplier. We had the opportunity to research Alibaba and Olympic Eyewear for the best supplier of aviator sunglasses. While Alibaba was better for pricing, the shipping and reviews favored Olympic Eyewear. I would choose Olympic becuase they are local, shipping times and fees were lower, and they have a nicer selection of trendy and timeless styles. While shipping is important due to trends coming and going in a flash, I would agree with some of the other classmates that the company could use Alibaba for the lower prices, and schedule delivery for goods a few months before the "season" as to be ready to strike when the iron is hot. This takes the shipping time out of the equation. You should also try to sell products that are timeless, and I feel that aviator sunglasses will remain popular for life. 

We also got to decide whether the company should use affiliate marketing or drop shipping for their business model. I chose drop shipping becuase it gives the company the chance to set their pricing, and receive a larger profit margin, all while being in complete control over their success. Mind you, customer service was a big deal to most students, but you have to deal wtih customers- they are your bread and butter. Most classmates chose the affiliate marketing model becuase it was very low risk, and no customers to deal with. This may sound great, but the money to be made is miniscule by comparison and you must have a large following on social media or traffic to your website to capitalize on the links.