Image source: Ana Homayoun – Changing the Teen Lingerie Scene: My Q&A with Yellowberry Founder Megan Grassell

For the last year or so I have been following news stories and articles that have been posted on Facebook by my friend, Megan Grassell. I met Megan while ski racing in Oregon, USA, and have been amazed to watch her develop her own company that designs and sells age appropriate bras aimed at pre-teen girls because of her disapproval of other bras on the market. Recently appearing in Forbes online, Megan has now hit it in the big leagues and has established a unique brand name for herself. I find it interesting when comparing the business strategies we have learned about in class with the path that Megan chose to follow in creating her business. Megan has targeted a narrow market segment with an advantage of product uniqueness to have a focus strategy of differentiation. There are no other companies at the moment that are creating products that compete with Megan’s specialized target scope and this is why she has become so successful in such a quick amount of time. However, as we learned in class, for a company to remain successful they must constantly revamp and re-evaluate their products to stay at an advantage to up and coming competition from other companies. It’s my hope that I will be able to continue to follow Megan’s success and watch her company grow!

Sources :

http://www.forbes.com/sites/cherylsnappconner/2014/09/20/teen-entrepreneur-megan-grassell-used-her-frustration-to-fuel-a-business/

Changing the Teen Lingerie Scene: My Q&A with Yellowberry Founder Megan Grassell