1 / 37

The “Cup-Anion” Your shopping companion

The “Cup-Anion” Your shopping companion. Joanna Maciorowska John Nycz Aditi Shah Ankit Shah. What we will cover…. Our Goal Customer Requirements Meeting The Customers Needs Gap Map The “Cup-anion” – Product Introduction Market Research Plan & Test Results Concept Test & Results

jaimie
Download Presentation

The “Cup-Anion” Your shopping companion

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The “Cup-Anion”Your shopping companion Joanna Maciorowska John Nycz Aditi Shah Ankit Shah

  2. What we will cover… • Our Goal • Customer Requirements • Meeting The Customers Needs • Gap Map • The “Cup-anion” – Product Introduction • Market Research Plan & Test Results • Concept Test & Results • Financial Analysis • Top Down Analysis • The Future

  3. What we seek to accomplish… To not let the act shopping get in the way of enjoying your favorite beverage…

  4. Customer Requirements Durability Versatility • Durability • Plastic that will last • Versatility • Multiple uses • Multiple colors • Multiple sizes • Convenience • Easy to store • Easy to use Customer Satisfaction Convenience Easy to use

  5. Meeting the Needs Text Self-Actualization • Our product designed to satisfy these 5 innate needs… Esteem Love/Belonging Safety Physiological

  6. Meeting the Needs: Physiological • The most fundamental & most obvious • Basics for survival • People need to drink to survive!! Physiological

  7. Meeting the Needs:Safety • Personal Security • This is their product to own • No dependency on retailer to provide for them • Financial Security • Won’t break the bank Safety • Safety net against accidents • No threat of spills • Will always be there for them when they need it

  8. Meeting the Needs:Love & Belonging • Friendship • Family • Acceptance • Being part of a “community” Love/Belonging

  9. Meeting the Needs:Esteem • The desire to be accepted and valued by others • Seek fame or glory • We’re not saving the world here • But the eyes of interested, curious, jealous onlookers make them the talk of the store Esteem When they shop, they are trendsetters!

  10. Meeting the Needs:Self-Actualization Text Self-Actualization • Realizing the customer’s full potential • Become what one is capable to become • Providing them the sense of… • Independence • Self-Empowerment • Pride • Being the best shopper without compromising who they are!

  11. What’s out there? • Name: “The Shopping Cart Cup Holder” • Metal • Very industrial feel • Lacks Flexibility • One use for one cart • One color….Aluminum • Lacks Convenience • Small but awkward • Easily forgettable • Blends in with cart

  12. What’s out there? • Name: “Safe Strap Sip-n-Clip” • “Industrial” feel • Found on retail site (under Janitorial) • One color….Orange • Lacks Convenience & Versatility • Small but awkward • Difficult to store • Difficult to use • Watch out for fingers!

  13. What’s out there? • Name: NO NAME! • “Utilitarian” feel • Found on retail site • Not for consumers • Various slots • Unnecessary! • Lacks Convenience • Difficult to carry • Difficult to store • One cup capacity • Cup must not have handles • Difficult to use • Watch out for fingers!

  14. Gap Map • Opportunity Area: Versatile & Stylish Versatile The “Cup-anion” Shopping Cart Cup Holder Not Stylish Stylish Safe Strap Clip-n-Sip No Name – provided by retailer Not Versatile

  15. The Shopping Cart Cup Holder Dual Cup Option Closed Open

  16. The Shopping Cart Cup Holder Single Cup Option Closed Open

  17. The Shopping Cart Cup Holder

  18. Market Research Plan • Survey Hand-Outs • Random Sample • Primarily work Associates • Sample size: 50 • Survey consisted of 20 questions • Seeking interest (for dual & single options) • Demographics

  19. Market Research Test Results • Of the 50  26 Female / 24 Male

  20. Market Research Test Results • Target Market • Very Interested (8 of 50; or 16%) • Married Female Primary Shoppers 25+ • Moderately Interested (9 of 50; or 18%) • Female Primary Shoppers 25+ • Both combined provide 34% • This is our focus! • Other findings: • Children (Yes/No)  Not a factor • Men  2 Very Interested, 3 Moderately Interested

  21. Market Research Test Results • Next Question…Single or Double? • Very Interested (of the 8) • 5 prefer the double • 2 prefer the single • 1 prefers both • Moderately Interested (of the 9) • 3 prefer the double • 4 prefer the single • 2 prefers both • Result: More interest for the Dual “Cup-anion”

  22. Market Research Test Results • Next Question…Price? • Very Interested (of the 8) • $8.80 for the single • $12.42 for the double • Moderately Interested (of the 9) • $12.92 for the single • $17.14 for the double • Result: $5 price difference between single & double “Cup-anion”

  23. Market Research Test Results • Final Pricing: • Single “Cup-anion” • $10 per unit • Dual “Cup-anion” • $15 per unit

  24. Market Research Test Results • Distribution Channels… • Retail: 38 • Internet: 30 • Mail Order Catalog: 20 • Direct Mail: 6 • Classifieds: 3 • Telemarketer: 2 The “winner”

  25. Market Research Test Results • Product Name Choices (from the survey) • “Fold-n-Store Cup Secure” • “Cup-n-Cart” • “Cart Cup Caddy” • “Sip & Shop” • “Cargo Cup Express” • “Beverage Buddy”

  26. Market Research Test Results • The right name… The “Cup-anion” It’s not just a piece of plastic, it’s your travelling companion!

  27. Concept Test • Concept testing was performed using conjoint analysis that helps determine the need level, perceived value of the product, Purchase intention and purchasing frequency. • Data was gathered by running a Randomized survey within different demos

  28. Concept Test Results

  29. Forecast Assumptions • Target Market: • Married/Single/or Divorced Female Primary Shoppers aged 25+ • Cost: • Plastic costs $1-2 per pound • 2 employees @ $7.25/hour • Each can assemble 50/day • Each week will result in 350 “Cup-anions” • 175 ‘single’ units & 175 ‘dual’ units • Total Cost per unit (incl Labor) = $5-7.50

  30. Forecast Assumptions • Assuming 50% of original purchasers will repeat purchase either due to… • Item malfunction/breaking • Gift idea • In market for other option (single/double) Anticipated 1st Year Target sales of…

  31. First Year Unit Analysis Outlook: Positive *Factoring in overhead

  32. 5-Year Forecast

  33. Let Us Illustrate… 5-Year Revenue Forecast ($)

  34. Let Us Illustrate… Yearly Revenue Increase (%)

  35. Tops Down Analysis

  36. The Future… • Other distribution channels • Retailers • Continue focus on B2C…but lay groundwork for B2B • Bulk purchase by grocery stores for all carts • Plan model redesign by Year 5 • Re-”excite” the brand • Offer new colors • The “Cup-anion” of your choice!

  37. Let’s begin shopping!Thank you

More Related