CASE STUDY: THE FOUNDING OF FLIPZ: LIVING THE ENTREPRENEURSHIP DREAM? What do you recommend that Lee should do? Should she spend the remaining funds on marketing or product development, please explain and present your arguments? Should she continue working on the start-up or should she call it quits?   

Answer:

In my opinion, Lee should spend the remaining funds on marketing and product development.

Step-by-step explanation

According to the information in the case study, the main challenges that Lee faces include; funding rejections, technical difficulties during product development and dwindling user downloads. One of the reasons why she has experienced dwindling user downloads is because she has not marketed the product enough, most of the potential customers in the market do not have an idea about the app and this has contributed in the decreased number of user downloads. Spending the remaining funds on product development and marketing would ensure that there is an increased popularity of the app in the market and this would later increase the number of user downloads. Developing the product more would ensure that she delivers a product that meets customer expectations in the market and this would result in it attracting more customers. Doing this would result in increased revenue due to the increase in the number of users, this increased popularity would also attract more investors who would be interested in funding the project due to it's potential and this would result in it's success in the long run.