Questions to Contemplate

Markets coming to life from concept to completion

Questions:

1.) Products – Is the product interesting, unique, and contributory to the appeal of the market?

How do you poll what the community likes/wants?

2.) Equity Goals – Does the vendor and products contribute to the project’s equity goal of being a place for inclusive and diverse entrepreneurship?

What kind of vetting process is there?

3.) Price – How does the vendor price items competitively and accessibly?

Does every vendor need to have the same payment system? Do they have to report sales to the market?

4.) Personality – vendors, and their employees, must enjoy people and be upbeat and courteous. How do you ensure a mix of personalities?

5.) Reputation – does this vendor have a positive standing in their community and will their presence in the market help to build the customer base and garner publicity?

What if a vendor is no longer a good fit? (for a drastic reason)

6.) Service – does the vendor understand how to present himself or herself and treat people attentively?

How does the market support the vendors endeavors?

7.) Knowledge – does the vendor have a deep understanding of their products and can they credibly answer customers’ questions?

8,) Commitment – is the vendor willing to do what it takes to make their business succeed?

9.) Presentation - what sort of merchandising techniques will the business utilize?

How will the market promote the businesses inside it?

10.) Innovation – will the vendor provide customers with updated products and merchandising?

11.) Competitive Strength – does the vendor have an understanding of their competition and how they will be able to achieve and gain market share?

12.) Business Plan – how much are they willing to invest and what are their sales projections?

How established does a business need to be?

What qualifies a business as being a risk rather than an asset?

How often does this need to be updated? Quarterly?

13.) Local and Authentic – is the product grown or made in the Hudson Valley region and/or using local ingredients?

When I approach a project or an idea, I try to come at it with a hollistic well rounded approach. I like to learn a litle bit about each angle, so that I’m informed and can make the best decisions. This wasn’t fully working out on this project and I had to pivot from trying to become an expert on interior design, architecture, and urban planning to graphic design.

I had to change what my deliverables would be because I wasn’t being realistic. I went from a market floor plan to a brand identity. Up until this point I was foggy about what I was doing, and it’s becaused I’m a graphic designernot all of these other things.

I had some friends over and we started talking about public markets naturally. This conversation blossomed and ended up being hours long. At some point I pulled out paper and markers so we could record some answers.

The quetions I asked were:

1. Have you ever been to a public market of any kind?

2. If so, what kind of market?

3. Describe what a public market should be in 3 words.

4. Describe what a public market should not be in 3 words.

5. If there was a year round public market in Tarrytown, NY what should it be called?