The Importance of Perceived Value

A recent all-you-can-eat lobsterfest at Rutgers made me realize how much perceived value plays a role in whether customers will buy your product or not. This was only my second time trying lobster and to be quite honest, I didn’t find anything spectacular about it. It was nothing amazing, but my the looks of it you’d think that there were diamonds hidden in those lobsters considering the wild rampage of people trying to stuff as much lobster down as they possibly could. What could possess my peers to go all out on something that seemed so average to me. It occurred to me that it wasn’t really the lobster they were attracted to, but rather the perceived value of the lobster. Knowing that lobster can fetch $20-$30 at a nice restaurant, the value of the lobster was automatically higher than what it’s value (taste-wise) might really be. Either that, or maybe I’m just not a lobster person.

Walamu gets reviewed on SportsLizard

Adam McFarland of SportsLizard Entrepreneur Blog recently wrote an awesome review on Walamu. Check it out here.

P.S. Check out our contest winner’s site here.

Interview with Josiah

Josiah Mackenzie of MyPalPad.com was cool enough to do an interview with me about Walamu. Check out the interview here.

P.S. Check out our contest winner’s site here.

Post Launch

Suffice to say, launch was pretty exciting. There are still a ton of milestones to reach, but nevertheless, it seems like Walamu is getting a good amount of attention. Getting in the university paper is the next step, but before that I’m hoping to garner some attention simply by flyering and word of mouth to get a sort of foundation going to the site. My intern and I have been doing an excellent job so far of getting the word out. Personally, having gone dorm to dorm and door to door slipping flyers under people’s doors, I must say I’m also having fun meeting new people and getting to know my potential customers in such a personal way. It’s always good to find people that are genuinely interested in what you’re doing and I’m certainly focusing on running Walamu in a way which I can connect with my market, whereas other companies trying to do the same thing might simply see students as customers.

I’ll keep everyone posted on Walamu. Thanks for all the support so far by everyone.

P.S. Check out our contest winner’s site here.

One Day Left

As you probably already know, Noah Kagan, over at OkDork.com, has auctioned off an hour of his time on eBay. There are only 24 hours left until the auction ends. Although there are a good number of bids, you can still get in at a decent amount for an hour of Noah’s time. Here’s the link: Buy 1 hour with Noah Kagan from OkDork.com.

His words:

“You can read my bio at NoahKagan.com.

This is for one hour of my time. You can do whatever you want with it. It must be clean;)

My mom said I am a special person and you should help me out so I can move out of her house. She says I am too dirty and leave too many crumbs on the counter.”

So head on over and who knows-you might be the winning bidder.

P.S. Check out our contest winner’s site here.

Walamu Launched!

It’s 3am as I write this. Just got back from flyering a bit of the campus. Crazy I know. Here it is! www.walamu.com.

Update

Classes are in full swing here as I start my sophomore year at Rutgers. That and the fact that my Internet wasn’t being so easy to set up is why I haven’t posted here in a while. I have some catching up to do, especially for Tom who won our contest, and I promise to get on top of that as soon as my Internet is up at my dorm.

If anyone who has emailed me previously about doing a write up, feel free to get in touch with me about doing an interview or answering questions about Walamu now.

Updates soon.

P.S. Check out our contest winner’s site here.