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EcoBeautyLab Opportunity Analysis Project - Technology Entrepreneurship Class - Stanford University

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EcoBeautyLab Opportunity Analysis Project - Technology Entrepreneurship Class - Stanford University

  1. 1. EcoBeautyLab Technology Entrepreneurship - Opportunity Analysis Project
  2. 2. Is Our Idea Worth Pursuing?  The Idea  How big is the market?  Hypothesis  Value Proposition (Customer Pains and Solution)  Customers  Experiments  Results
  3. 3. The Idea
  4. 4. The Idea A platform that empowers consumers to create their own eco-friendly personal care product that is safe, simple and stunning.
  5. 5. Market Size Research Personal Care Products Industry
  6. 6. Market Size Research (Personal Care Products)  Global  United States  Eco-Friendly $350 Billion  E-commerce
  7. 7. Market Size Research (Personal Care Products)  Global $160 Billion  United States Breakdown:  Eco-Friendly Skincare: $24 billion Make-up: $18 billion  E-commerce Hair-care: $38 billion Perfumes: $15 billion
  8. 8. Market Size Research (Personal Care Products)  Global  United States  Eco-Friendly 2011:  E-commerce $5 billion
  9. 9. Market Size Research (Personal Care Products)  Global  United States 2012-2017  Eco-Friendly (Expected Growth):  E-commerce $8 Billion
  10. 10. Market Size Research (Personal Care Products)  Global 2012:  United States $9.6 billion  Eco-Friendly (40% jump from 2010, third higher than the projected growth rate for e-commerce over  E-commerce all)
  11. 11. Market Size Research (Personal Care Products)  Global 2012-2017  United States (Expected Growth):  Eco-Friendly  E-commerce 8.8%
  12. 12. Hypothesis Value Proposition - Customer pains and solutions
  13. 13. Problem 1 Lack of consumer control and personalization options to cater to unique customer needs
  14. 14. Solution 1 Offer customization options and features that resonate with consumers
  15. 15. Problem 2 False Labeling and Marketing Gimmicks (to cover up toxic chemicals & animal testing)
  16. 16. Solution 2 Transparency and education of the product development process
  17. 17. Problem 3 Most beauty sites are cumbersome
  18. 18. Solution 3 Visually stunning platform that guarantees use of use in manipulating product choices
  19. 19. Problem 4 Overwhelmed by choices
  20. 20. Solution 4: Curation Curate the customization options by taking away unwanted choices
  21. 21. Experiments
  22. 22. Experiments Sample Size: 50 Online Survey: 20 Face-to-Face: 30
  23. 23. Customer Profile Clarissa Valentine Jennifer The Online Influencer The Sophisticated Shopper The Multitasking Mom Age: 13 – 24 Age: 25 - 35 Age: 35 - 50 Occupation: Occupation: Busy Working Occupation: Multi- Teenager/Student Professional tasking Mom Income: Allowance from Income: Disposable Income Income: Disposable affluent parents Pain 2 & 3: Pain 4: Pain 1: Lack of Overwhelmed by choices Disenchanted with customization options to Frustrated with cumbersome marketing gimmicks and express their unique identity beauty sites false labeling Habits: Spend a lot of time Habits: Make well-informed Habits: Highly involved consuming and creating decisions based on research from with the community and content on social networks women’s magazines passionate about safe products
  24. 24. Results
  25. 25. Results Do customers really have the pains we’ve guessed? YES
  26. 26. Other Pains • Unable to physically try products • Time-consuming process to educate themselves
  27. 27. Alternative solutions offered • Good Return Policy • Sample Sizes

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