SIM4
Think Startup
Created on July 11, 2023
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SIMULATION
Session 1 - 4
Aarav and Riya were neighbors in their growing years, and have become good friends since.
Aarav
Aarav Patel is a 25-year-old working professional hailing from Lucknow. He completed his undergraduate degree in engineering from a reputable university in India, followed by an MBA.
Riya Das is a 22-year-old science graduate from Bengaluru. Riya is known for her creativity, attention to detail, and ability to connect with people personally.
Riya
Meet our Founders
Riya
As an avid beauty enthusiast, she frequently explored various beauty products and followed international beauty trends. However, Riya often found it challenging to access authentic, eco-friendly and high-quality beauty products in her local market. She noticed that many of her friends and family members faced the same issue, resorting to unreliable sources or settling for limited options. Frustrated with the lack of organized retail options and personalized guidance, Riya decided to dig deeper into the market. Through her findings, Riya discovered that there was indeed a significant gap in the market for a comprehensive beauty platform that offered a diverse range of products, expert advice, and a user-friendly shopping experience. Motivated by her own experiences and the shared challenges of those around her, Riya felt inspired to create a solution that would cater to the needs of Indian beauty enthusiasts.
Their Experiences
Aarav
Aaarav has always been curious about consumer behaviour and market dynamics. Through his interactions with friends, family, and acquaintances, Aarav started noticing a recurring theme regarding the challenges faced by friends and family when it came to finding reliable grooming products. He observed that many people struggled with the authenticity and availability of products in their local areas.Intrigued by these conversations and his own observations, Aarav conducted further research and analysis on the beauty/grooming market in India. He discovered that the gap between consumer demand and the availability of genuine beauty products was widespread.Motivated by the experiences shared by those around him, Aarav became inspired to create a solution that would address these challenges and provide a better shopping experience for people looking for eco-friendly , genuine products.
Their Experiences
What do your friends and family members struggle with?
Do you know all the products you need?
Do you find products within your wallet size?
What do you struggle with? Skin care, hair care, cosmetics?
What has been your experience?
Young professionals, both men and women, who desired a polished and well-groomed appearance, encountered difficulties in finding the right beauty products. They observed that this group, often occupied with demanding work schedules, faced time constraints and lacked access to reliable information regarding suitable products for their specific needs
Growing number of young of young people, particularly influenced by social media platforms like Instagram, were seeking to recreate the latest beauty trends and looks. However, they found it challenging to locate the similar products used by influencers or celebrities.
Women, particularly those who were more discerning about beauty and skincare, faced challenges in finding products that catered to their specific needs. They observed that this group often sought anti-aging, nourishing, and specialized products, but struggled to find reliable options that addressed their concerns.
These were the initial observations of our founders
Finding high-quality, eco-friendly beauty and wellness products is a hassle. The need to search multiple stores and websites makes shopping time-consuming and frustrating. The disjointed and inconvenient shopping experience makes it hard to quickly find and buy the desired items
PPROBLEM STATEMENT
List the top reasons for the disjointed and inconvenient shopping experience
Limited marketing
Limited availability
Insufficient information and education
Labelling and certification norms are unclear
Unfragmented market
Disorganized Market
Root Causes- As per Riya and Aarav
This problem exists due to several reasons:
- Disorganized Market: There isn't a single, centralized platform that consolidates high-quality wellness and eco-friendly beauty products from various brands and stores, making it difficult for consumers to find and compare products efficiently.
- Market fragmentation: The wellness and eco-friendly beauty market is highly fragmented, with numerous small and niche brands offering products. This makes it challenging for consumers to navigate the market and find the best options.
- Inconsistent labelling and certification: There is a lack of standardized certifications and labelling for eco-friendly and wellness products, making it difficult for consumers to identify and trust the products they are buying.
- Insufficient information and education: Many consumers lack the knowledge and information required to make informed choices about wellness and eco-friendly products. This can lead to confusion and frustration while shopping.
- Limited availability: Not all stores or websites carry a wide range of eco-friendly and wellness products, making it necessary for consumers to visit multiple places to find the desired items. Varying quality and price points: Due to the diverse nature of the market, the quality and price of wellness and eco-friendly beauty products can vary significantly. This makes it difficult for consumers to determine which products offer the best value for money.
- Limited marketing: Smaller, eco-friendly, and wellness-focused brands may have limited marketing budgets, which can make it challenging for them to reach a wider audience and gain visibility in a crowded marketplace.
Root Causes
The next slide shows you the shortlisted solutions that our founders came up with
List the possible solutions to enhance the shopping experience and solve these challenges
Choose the option that you would like to persue
Physical Retail ChainA physical retail chain that only stocks top-quality wellness and eco-friendly beauty products. The store would employ knowledgeable staff who can educate consumers about the products and help them make informed purchasing decisions. The store could also host events and workshops to promote eco-conscious living and build a community around the brand.
E-commerce platform: An online platform that consolidates various top-quality wellness and eco-friendly beauty products from multiple brands. The platform could leverage machine learning algorithms to recommend products to users based on their preferences, skin type, and other factors. Users would be able to sort and filter products by price, brand, ingredients, and sustainability ratings. This would save consumers time and provide a convenient one-stop solution for their shopping needs
Possible Solutions
The proposed e-commerce platform aspires to become a premier digital marketplace for an assortment of top-quality wellness and eco-friendly beauty products. Envisaged as a comprehensive hub, it will host a wide variety of goods from a diverse array of brands, offering an impressive range of products to cater to a wide spectrum of consumer needs and preferences.At the core of the platform's innovation is the integration of advanced machine learning algorithms. These sophisticated systems are designed to learn from user behavior and feedback, thereby providing tailored product recommendations for each user. By assessing individual parameters such as user preferences, skin type, product history, and more, the platform can offer highly personalized shopping experiences, thus augmenting customer satisfaction and engagement.
Early Thoughts
E-commerce platform:
A physical retail chain that stocks a wide range of top-quality wellness and eco-friendly beauty products. The store would employ knowledgeable staff who can educate consumers about the products and help them make informed purchasing decisions. The store could also host events and workshops to promote eco-conscious living and build a community around the brand. Physical stores will be strategically located in malls and areas where there is a high footfall of targeted customers.
Early Thoughts
Physical Retail Chain
We believe that everyone’s beauty and wellness journey is personal, and our stores with beauty technicians and consultants allow us to provide customized consultations and product recommendations tailored specifically to the user. By analyzing user data, such as skin type, concerns, preferences, and lifestyle factors, our consultants can offer highly relevant and accurate suggestions, ensuring that our customers find the most suitable products. We also understand the importance of eco-friendliness and wellness in the beauty industry, and we are committed to promoting sustainable and healthy products. We will prioritize brands and items that align with these values and continually update our product database to offer our customers the latest and most innovative options. Our Retail chain aims to transform the often frustrating and time-consuming process of shopping for wellness and eco-friendly beauty products into an enjoyable and effortless activity. By amalgamating a wide range of products under one roof and tailoring the shopping experience to the individual needs of each user, our solution not only saves consumers' time but also provides a convenient, reliable, and efficient one-stop solution for their shopping needs.
Elaborated Solution - Physical Retail Chain
The proposed e-commerce platform aspires to become a premier digital marketplace for an assortment of top-quality wellness and eco-friendly beauty products. Envisaged as a comprehensive hub, it will host a wide variety of goods from a diverse array of brands, offering an impressive range of products to cater to a wide spectrum of consumer needs and preferences.At the core of the platform's innovation is the integration of advanced machine learning algorithms and AR/VR. These sophisticated systems are designed to learn from user behavior and feedback, thereby providing tailored product recommendations for each user. By assessing individual parameters such as user preferences, skin type, product history, and more, the platform can offer highly personalized shopping experiences, thus augmenting customer satisfaction and engagement.In a nutshell, this proposed e-commerce platform plans to revolutionize the way consumers discover, evaluate, and purchase wellness and eco-friendly beauty products, thereby redefining the standards of online shopping experiences in the wellness and beauty industry.
Elaborated Solution - E-Com Platform
Retail Chain
E-com Platform
Make a list!Watch out for Session 2 for the answers!
Who do you think will be the customers?
We are drawn to the problem because we are passionate about beauty and wellness and understand the needs of our target customers. With our combined experience and knowledge, we can address their pain points and create a convenient, personalized, and premium solution that caters to their desires and aspirations
Explainer
Explainer
- Limited options available in local stores.
- Online marketplaces with a broad selection but authenticity concerns.
- Social media influencers' recommendations, but lack of personalized guidance.
- Enthusiasts, young professionals, & older women.
- Need authentic beauty products, diverse options, personalized recommendations, and expert guidance.
- Access to a wide range of genuine beauty products, convenience in product discovery and selection, personalized recommendations, and reliable information.
- Root Cause: Limited availability, authenticity concerns, & lack of diverse options , little or no information on certification, use of eco-friendly, natural and sustainable ingredients
- Impact: Customers struggle to find reliable beauty products, leading to wasted time, money, & dissatisfaction with their beauty routines.
- Customers face this problem weekly/monthly when searching for beauty products.
- Difficulty in finding authentic and diverse beauty products.
Explainer
Explainer
Problem-Statement Canvas
Why am I drawn to the problem? How does the problem align with my passion, skills or experience?
How do people currently address the problem?
Who experiences the problem most severely? Is this a small or large group?
How often does the problem occur in a day/week/month?
What are the main reasons for the problem to exist? What is the loss/pain caused by the problem?
What is the problem? How does it manifest itself?
MY ALIGNMENT
CURRENT SOLUTIONS
CUSTOMERS/USERS
ROOT CAUSES & IMAPCT
FREQUENCY
My Name: <Name>
PROBLEM
Last Revised On: <Date>
Session 2
Beauty & Wellness Influencers
The Luxury Beauty Enthusiast:
Busy Professionals
Wellness Practitioners
Eco-Friendly Beauty Brands:
Health-conscious Millennials & Gen Z
Beauty & Wellness Influencers
The Luxury Beauty Enthusiast:
Busy Professionals
Wellness Practitioners
Eco-Friendly Beauty Brands:
Health-conscious Millennials & Gen
UVP
KNOW:
KNOW:
UVP
UVP
KNOW:
UVP
UVP
KNOW:
KNOW:
K.N.O.W MODEL
SELECTED SEGMENTS
CUSTOMER SEGMENTS- RETAIL
KNOW:
UVP
K.N.O.W MODEL
SELECTED SEGMENTS
CUSTOMER SEGMENTS- ECOM
Navigaton
Market Segments- E-com Platform
B2B Segment
B2C Segment
- Younger generations
- More aware and concerned about product ingredients, sustainability, and
- Impact their purchasing decisions have on their health and the environment
- Particularly conscious about the environment
- Actively seek out eco-friendly products.
- Prioritize purchasing products that align with their ethical beliefs
- Such as vegan or cruelty-free products.
- Focused on overall wellness, including skincare, haircare, and nutritional supplements
- Seek out high-quality, natural products for their wellness routines.
Health-conscious Millennials and Gen Z
Vegan and Cruelty-free Consumers
Sensitive Skin Individuals
- Skin conditions or sensitive skin
- Require specific, usually natural and organic, beauty products.
Wellness Enthusiasts
Eco-Conscious Consumers
B2C Segment- E-Com Platform
Wellness Practitioners
Spas and Salons
Corporate Businesses
- Companies looking to purchase wellness and eco-friendly beauty products in bulk
- For corporate gifting or employee wellness programs.
- Could use the platform to source high-quality, eco-friendly products
- For their services,and
- Retail them to their clients.
- Includes professionals such as dermatologists, nutritionists, and fitness experts
- Could use the products in their practices or
- Recommend them to their clients.
Eco-Friendly Beauty Brands
- Companies that manufacture eco-friendly beauty products. Can benefit from the platform
- Will reach a wider audience and increasing their product visibility.
B2B Segment E-Com Hybrid Platform
Which segments will you choose? E-Com Platform
Understanding UVP
UVP- Cutomer Personna
KNOW Model
Validation and stories.
Validation and stories.
Validation, and stories.
Wellness Practitioners
Eco-Friendly Beauty Brands:
Selected Segments (E-Com Platform)
Health-conscious Millennials and Gen Z
Market Segments- Retail Chain
B2B Segment
B2C Segment
Medical Needs
- Specific skin/hair conditions
- Look for personalized product recommendations
- Interested in products that cater to their unique skin needs,
- Want to manage their symptoms and find suitable products
Men's Grooming Entusiasts
- Seek tailored beauty and wellness advice and products
- Interested in customized recommendations for skincare, grooming, and wellness products.
The Natural Beauty Advocate
- Age: 18-45.
- Prioritize natural and organic products
- Interested in health and wellness
- Interested in exploring new natural & organic products
- Willing to pay a premium for high-quality natural and organic beauty products.
The Luxury Beauty Enthusiast
- Age: 25-60.
- Aalue luxury, quality, and effective beauty products
- Likely to have a higher income
- Interested in high-end beauty services and treatments, and
- Interested in exploring new beauty trends and products.
The Eco-Conscious Consumer
- 25 to 50 yrs
- Environmentally aware
- Make sustainable choices
- Willing to pay a premium
- Attracted to a store that emphasizes eco-friendliness and sustainability
Busy Professionals- 25 to 45 yrs
- Value their health
- Prioritize high-quality products made with natural, sustainable ingredients
- Willing to invest in products that enhance appearance
- Interested in personalized recommendations
B2C Segment- Retail Chain
Beauty and Wellness Influencers
- Focus on beauty and wellness
- Interested in promoting products to their followers
- Interested in trying out the store's personalized recommendation service and
- Featuring their favorite products on their social media platforms
- Interested in collaborating on product launches or sponsored content.
Event Planners
- Specialize in weddings, fashion shows, and other high-end events
- Interested in purchasing products to use as gifts or giveaways for attendees
- Interested in partnering with the store to create customized gift sets or to collaborate on event sponsorships.
Salon and Spa Owners
- Interested in purchasing high-quality, eco-friendly products
- Interested in establishing a partnership to access products and services at a discounted rate
- Interested in collaborating on events or promotions to showcase the store's products to their clients.
B2B Segment- Retail Chain
Which segments will you choose? -Retail Chain
Understanding UVP
Validation loop- Intro to KNOW
UVP- Customer Persona
KNOW. Model
Validation
Validation
Validation
Selected Segments -Retail Chain
Event Planners:
Beauty and Wellness Influencers
The Luxury Beauty Enthusiast:
Busy Professionals
Click here to choose a persona
Video- Explainer-Retail
K.N.O.W Model
Age: 25-45 years Gender: Female Income: 10-20 lakh INR per annum Occupation: Full-time professionals in high-stress jobs
Quality products that provide quick results Convenient packaging for on-the-go use Reasonably priced products that fit within their budget
Limited time to dedicate to beauty and wellness routines Limited knowledge about effective beauty and wellness products Existing solutions may not fit their busy lifestyle or be easily portable
To maintain a professional appearance despite busy schedules. To save time and effort on their beauty and wellness routines To have products that are easy to use and portable
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
Mrinal Gupta
CATEGORY:SEGMENT: Busy Professionals segmentUNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (Retail)
Reena Srinivas
High-quality and luxurious products that make them feel pamperedInnovative and effective products that provide visible resultsPersonalized recommendations and advice from beauty experts
High prices of luxury beauty and wellness productsDifficulty finding the right products that fit their needs and preferences. Existing solutions may not meet their high standards for quality and luxury
To indulge in luxurious and high-quality beauty and wellness productsTo maintain a youthful and radiant appearanceTo keep up with the latest beauty trends and products
Age: 25-60 years Gender: Female Income: 12-35 lakh INR PA Occupation: High-paying jobs, business owners
Luxury Beauty Enthusiast
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
CATEGORY:SEGMENT:UNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (Retail)
Sonali Gupta
Access to a wide range of high-quality and innovative productsPersonalized recommendations and advice from beauty expertsOpportunities to network with other industry professionals and build their personal brand
Limited budgets for purchasing productsDifficulty finding new and innovative products to feature on their platformsExisting solutions may not meet their specific needs as industry professionals
To stay up-to-date with the latest beauty and wellness products and trendsTo have access to a wide range of products for testing and promotionTo network with other industry professionals and build their personal brand
Age: 25-45 years Gender: Female Income: 10-25 lakh INR PA Occupation: Beauty and wellness influencers, bloggers, event planners
Beauty and Wellness Influencers
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
CATEGORY:SEGMENT:UNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (Retail)
Click here to choose a persona
E-Com Platform
K.N.O.W Model
Explainer
Explainer
Explainer
Payal Jain
Products that are gentle and effective, as she has sensitive skin and is wary of harsh chemicals
Sonali faces difficulty in finding reliable sources to purchase eco-friendly beauty products. She's often forced to visit multiple websites to find the products she needs.
Needs beauty and wellness products that align with her eco-conscious lifestyle. Products that are organic, vegan, cruelty-free, and packaged sustainably.Transparent information about the ingredients and production processes of the products she buys.
Age: 26 Gender: Female Education: Bachelor’s degree in Management Urban/city, Early career professional working in a consulting MNC
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
CATEGORY:SEGMENT: Millennials & Gen Z SegmentUNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (E-COM)
Beauty & Wellness Brand Manager
Looking for a partnership that can boost the brand's visibility and credibility. Interested in a platform that provides user data and analytics. Ravi desires an increase in customer engagement and loyalty. Interested in opportunities to showcase the brand story, mission, and values, and interact with consumers through the platform.
Budget limitations are a constant challenge. Traditional advertising methods are often too costly. He struggles with the saturation of the beauty market and differentiating his brand from competitors. He is concerned about "greenwashing" in the industry and how it can lead to consumer skepticism towards genuine eco-friendly brands
Needs an efficient and cost-effective way to reach a larger, targeted audience that aligns with the brand's values. He requires a platform that values transparency and will accurately represent the brand's products and sustainability practices. He is looking for ways to gain customer insights and feedback to help improve the brand's products and offerings.
Age: 34 - Gender: Male Education: MBA in Business Administration Occupation: Brand Manager for a growing eco-friendly beauty and wellness company Location: Metropolitan city
RAVI SHASTRI
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
CATEGORY:SEGMENT:UNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (E-COM)
Online Platform for a variety of eco-friendly wellness products, that offers detailed product information, customer reviews, and transparency about product origins and sustainability practices. He would be interested in a partnership program that allows him to earn commissions or discounts for products he recommends to his clients.
Deepak struggles to find a single platform that provides a wide range of wellness products meeting his high standards for quality and eco-friendliness. He finds it challenging to validate the authenticity of eco-friendly claims made by some brands. - He has a busy schedule and limited time to spend on sourcing products from multiple suppliers or websites.
Deepak needs a reliable source for high-quality, eco-friendly wellness products that he can recommend to his clients. He requires detailed information about product ingredients and their health benefits. He needs an efficient way to order products for his practice or directly refer his clients to purchase them.
Age: 42 Gender: Male Education: Degree in Holistic Nutrition, Certified Wellness Coach-Occupation: Wellness Practitioner running a private practice Location: Suburban area of Bengaluru
WANTS
OBSTACLES
NEEDS
KEY ATTRIBUTES (Demographics, Physcographics and lifestyle)
CATEGORY:SEGMENT: Wellness PractitionersUNIQUE POTENTIAL CUSTOMERS WE HAVE MET TO DEVELOP THIS PERSONA:
K.N.O.W Model (E-COM)
Validation questions
Explainer
RETAIL-CLICK HERE FOR SELECTED SEGMENTS
E-COM PLATFORM - CLICK HERE FOR SELECTED SEGMENTS
It's time to get out of the building!
Expectations
Personalisation
Shopping Experience
Pain Points
Current Beauty and Wellness Habits
General Information
Validation Questions-Health-Conscious Millennials and Gen Z
Needs
Personalisation
Customer Feedback
Pain Points
General Information
Validation Questions-Manager of Eco-Friendly Beauty Brands
Expectations
Personalisation
Shopping Experience
Pain Points
Current Beauty and Wellness Habits
General Information
Validation Questions-Wellness Practitioners
General Information
Expectations
Personalization
Challenges and Pain Points
Shopping Experience
Current Beauty and Wellness Habits
Validation Questions- Busy Professionals (Retail)
Expectations
Personalization
Challenges and Pain Points
Shopping Experience
Current Beauty and Wellness Habits
General Information
Validation Questions- The Luxury Beauty Enthusiast (Retail)
Expectations
Personalization
Challenges and Pain Points
Shopping Experience
Current Beauty and Wellness Habits
General Information
Validation Questions- Beauty and Wellness Influencers
Expectations
Personalization
Challenges and Pain Points
Shopping Experience
Current Beauty and Wellness Habits
General Information
Validation Questions- Beauty and Wellness Influencers
Explainer
Value Proposition Canvas
Elements of VPC
Explainer
Explainer
Explainer
Explainer
Explainer
Explainer
Explainer
Explainer
Value Proposition Canvas
Health concious Millennials and Gen XEco Friendly Beauty BrandsWellness practicioners
E-COM
RETAIL
Young ProfessionalsLuxury Beauty EnthusiastThe Wellness and Beauty Influencer
UVP for our chosen segments
Product/Service
- An e-commmerce platform with top-quality products from multiple brands.
- Advanced search options, filtering capabilities, & personalized recommendations
- Educational resources on eco-friendly practices and conscious purchasing decisions.
Gain Creators
- Personalized Recommendations
- One-stop solution for eco-friendly shopping needs,
- Providing educational resources on eco-friendly practices, enabling customers to make informed decisions and feel confident about their choices.
Pain Relievers
- Curated Selection: diverse catalog of top-quality eco-friendly health and beauty products from reputable brands, eliminating the need for extensive research.
- Trust and Verification: Establishing rigorous guidelines and verification processes to ensure the authenticity and sustainability of the products, addressing the lack of trust.
- Convenience & Accessibility: User-friendly platform for a seamless shopping experience
Product/ Service
Pains
- Difficulty in finding desired products across multiple stores/ websites.
- Lack of personalized recommendations. Inability to validate the sustainability claims of products.
- Difficulty in making informed decisions due to lack of information about the products
Gains
- Ease of finding and purchasing top-quality wellness and eco-friendly beauty products.
- Access to a wide variety of brands in one place.
- Being able to make purchases that align with personal values and preferences.
- Looking and feeling good for self and planet
Customer Jobs
- Shopping for high-quality wellness and eco-friendly beauty products.
- Seeking convenience in purchasing such products.
- Looking for personalized product recommendations.
Customer Map
UVP(E-COM)Health conscious Millennials & Gen X
Pain Relievers
- Increased Visibility
- Credibility and Verification
- Targeted Marketing
- Streamlined Distribution
Gain Creators
- Targeted Audience- increasing the potential for customer engagement and sales.
- Assuring customers of the authenticity of products, enhancing their reputation among eco-conscious consumers.
- Brand Exposure: showcases & increases their visibility
- Collaborating with other sustainability-focused initiatives to enhance brand exposure and reach.
Product/Service
- Platform that consolidates products from multiple brands.
- A dedicated category specifically highlighting & promoting eco-friendly beauty brands.
- Verification processes to ensure the authenticity & sustainability
- Marketing & promotional opportunities to enhance brand visibility & attract the target audience.
UVP(E-COM)Eco-Friendly Beauty Brands
Pains
- Difficulty in standing out among competitors and gaining recognition for sustainability efforts.
- Finding effective channels to reach their target audience of eco-conscious consumers.
- Logistics and distribution challenges in efficiently getting products to customers
Gains
- Increased Visibility and increasing brand exposure.
- Credibility and Trust by Associating with a trusted platform that verifies & showcases the sustainability credentials of their products.
- Reaching a specific audience of environmentally conscious consumers who value eco-friendly beauty products.
- Streamlined Distribution
- Increasing product visibility and reaching a broader customer base.
- Showcasing their eco-friendly beauty products to an audience actively seeking sustainable options.
- Building trust and credibility among environmentally conscious consumers.
- Increased revenues.
Customer Map
Product/ Service
Gain Creators
- Becoming a trusted resource for wellness practitioners to access high-quality products
- Streamlining the process of finding and evaluating products
- Facilitating collaboration
UVP(E-COM)Wellness -Practitioners
Pain Relievers
- Curated Selection of a diverse catalog of products
- Establishing rigorous guidelines and verification processes
- A user-friendly platform with advanced search options, filtering capabilities, and a seamless shopping experience, saving time and effort.
Product/Service
- An e-commerce platform with a curated selection of eco-friendly health and beauty products.
- Clear sustainability ratings and information for each product.
- Educational resources and updates on eco-friendly practices and industry trends.
- Collaboration opportunities with wellness professionals to provide insights and recommendations.
Pains
- Difficulty in sourcing and evaluating eco-friendly products that meet their quality standards.
- Limited options of high-quality eco-friendly products
- Time-consuming process of researching and keeping up with new product releases.
- Uncertainty about the authenticity and sustainability claims of various brands.
Gains
- Reliable Source: Access to a curated selection o
- Trust and Credibility: Assurance of the authenticity and sustainability of the products
- Saving time and effort in researching & evaluating products
- Expertise and Education: Info on the latest eco-friendly product releases and industry trends through the platform's resources.
Customer Jobs
- Better customer service
- Recommending sustainable products to clients that align with their wellness philosophies.
- Finding products that meet their specific requirements
- Staying informed about the latest eco-friendly product options
Customer Map
Product/ Service
Gain Creators
- Enhanced self-care and grooming routines for improved well-being.
- Confidence boost through effective products and personalized recommendations.
- Access to trend alerts, beauty tips, and educational content.
- Engaging community and social media platforms to connect and share experiences.
UVP(Retail)- Young Professionals
Pain Relievers
- Easy and intuitive product search and discovery features.
- Tailored product suggestions based on skin type, concerns, and preferences.
- Seamless shopping experience with multiple payment and delivery options.
- Time-saving tips and tutorials for quick beauty routines.
Product/Service
- Comprehensive range of high-quality beauty and wellness products.
- Personalized recommendations based on individual needs and preferences.
- Convenient online and offline shopping channels.
- Innovative and time-saving beauty tools and accessories
Pains
- Limited time for self-care due to busy schedules.
- Difficulty finding products that cater to their specific needs.
- Lack of knowledge about effective beauty and wellness practices.
- Feeling overwhelmed with the abundance of choices available
Gains
- Convenient access to quality beauty and wellness products.
- Personalized recommendations based on their preferences.
- Stay informed about the latest trends and innovations.
- Improved self-confidence and well-being
Customer Jobs
- Enhance personal appearance and grooming.
- Save time in their beauty and wellness routines.
- Discover and stay updated with the latest trends.
- Boost confidence and self-esteem.
Customer Map
Product/ Service
Gain Creators
- Elevated beauty experiences that evoke luxury and indulgence.
- Confidence in using premium and highly regarded beauty products.
- Insider access to luxury beauty events, brand partnerships, and promotions.
- Sense of exclusivity and prestige through association with luxury beauty.
UVP(Retail)- Luxury Beauty Enthusiast
Pain Relievers
- Curated selection of luxury beauty products, saving time and effort.
- Personalized consultations for tailored recommendations.
- Early access to limited-edition launches and collaborations.
- White-glove service and attention to detail
Product/Service
- Exclusive collection of luxury beauty brands and products.
- Personalized beauty consultations and services.
- Limited-edition and rare beauty offerings.
- Luxurious packaging and presentation
Pains
- Difficulty finding luxury products that meet their expectations.
- Lack of personalized services and attention.
- Missing out on the latest luxury beauty trends.
- Feeling disconnected from the luxury beauty community
Gains
- Curated selection of premium beauty products.
- VIP services, personalized consultations, and beauty experiences.
- Early access to new luxury beauty launches and limited editions.
- Sense of belonging to an exclusive luxury beauty community.
Customer Jobs
- Experience exclusive and high-end beauty products.
- Access personalized and VIP services.
- Stay ahead of trends and be a trendsetter.
- Enjoy a luxurious and pampering beauty routine.
Customer Map
Product/ Service
Gain Creators
- Enhanced content creation with unique and engaging product offerings.
- Growth and recognition as a trusted influencer in the beauty and wellness space.
- Networking and collaboration opportunities with like-minded influencers and brands.
- Access to exclusive influencer events, PR packages, and brand sponsorships
UVP(Retail)- Beauty and Wellness Influencers
Pain Relievers
- Wide selection of products suitable for different content themes.
- Access to expert guidance and personalized advice
- Streamlined processes for brand collaborations and partnership opportunities.
- Regular updates on industry trends, product launches, and events.
Product/Service
- Diverse range of beauty and wellness products for content creation.
- Expert advice and support for influencer. Collaborative opportunities with brands and fellow influencers.
- Industry insights and educational resources.
Pains
- Limited resources and access to a variety of products.
- Finding authentic and effective products to recommend.
- Building connections and partnerships with brands.
- Staying relevant and engaging in a competitive influencer landscape
Gains
- Wide range of beauty and wellness products for content creation.
- Expert advice and support to enhance their influencer journey.
- Opportunities for collaborations with brands and fellow influencers.
- Access to industry insights, trends, and networking opportunities
Customer Jobs
- Curate and create content around beauty and wellness.
- Establish authority and credibility in the industry.
- Collaborate with brands and fellow influencers.
- Stay updated with the latest industry trends and innovations
Customer Map
Product/ Service
Intro to Lean Canvas
Explainer
Turning Ideas into Action
Watch
Which blocks do we already have information on?
Early Adoptors
High level Concept
Existing Alternatives
05
08
06
07
09
04
02
03
01
Deconstruct your idea with key assumptions
Lean Business Canvas
List your sources of revenue
List your fixed and variable cost
List your path to reach the customer
List the key number that tell you how your business is doing
List your target customers or users
Something that cannot be copied
Describe the uniqueness of the solution and its key differences from the existing alternatives
Outline a possible solution for each problem
List your customer's top 3 problems
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Fill in the blocks 1-4 for the SIM Venture based on the chosen segment
UVP
LC Blocks- Problem/ Solution/ Customer Segment
Health concious Millennials and Gen XEco Friendly Beauty Brands
E-COM
RETAIL
Young ProfessionalsThe Wellness and Beauty Influencer
Lean Canvas for our chosen segments
- Conscious consumers
- Socially conscious influencers or opinion leaders
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Early Adoptors
High level Concept
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC-Mellinnials & GenZ (ECOM)
List your sources of revenue
List your fixed and variable cost
List your path to reach the customer
- Millennials who prioritize personal wellness and eco-friendly practices.
- Individuals seeking convenient and personalized shopping experiences.
- Conscious consumers looking for top-quality products that align with their values.
Something that cannot be copied
- Curated selection of diverse ecofriendly products from reputable brands
- Verification processes - for authenticity & sustainability
- Machine learning algorithms & AI tools - personalized product recommendations.
- Educational resources - knowledge & informed decision-making.
- Difficulty in finding high-quality wellness and eco-friendly beauty products across multiple stores or websites.
- Lack of personalized recommendations and difficulty in making informed decisions.
- Uncertainty about the authenticity and sustainability of products.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Eco-Friendly Beauty Brands(ECOM)
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
- An e-commerce platform that showcases and promotes eco-friendly beauty brands.
- Verification processes to ensure the authenticity and sustainability
- Marketing and promotional opportunities tailored to the eco-conscious consumer segment.
- Streamlined distribution & order fulfillment processes.
- Difficulty in standing out among competitors
- Finding effective channels to reach the target audience
- Logistics and distribution challenges
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Busy professionals aged 25 to 45 who prioritize personal care and seek convenient solutions for their beauty and wellness needs.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Busy Professionals (Retail)
- A retail chain offering a curated selection of high-quality beauty and wellness products tailored to the needs of busy professionals. Personalized consultations and recommendations from beauty experts.
- Difficulty finding time-efficient and personalized beauty and wellness solutions for busy professionals.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
- Traditional marketplace
- Brand collaborations
- Networking events and conferences
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Beauty & Wellness Influencer (Retail)
Beauty and wellness influencers seeking curated product options and industry support
- Curated selection of diverse beauty and wellness products for content creation.
- Expert guidance and support for influencers' journey.
- Streamlined processes for brand collaborations and partnerships.
- Regular updates on industry trends and events
- Limited access to a variety of beauty & wellness products for content creation.
- Difficulty finding authentic products to recommend.
- Challenges in building Brand partnerships
- Stay relevantin a competitive influencer landscape.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Watch
- Clear statement
- Explains the benefits of your product
- How it solves customers’ problems
- Why it is different from the rest, and
- Why customers should buy it.
Unique Value Proposition
Write down the Value Proposition for the SIM Venture based on the chosen segments
Channels
LC Blocks- UVP
Health concious Millennials and Gen XEco Friendly Beauty Brands
E-COM
RETAIL
Young ProfessionalsThe Wellness and Beauty Influencer- to do
Lean Canvas for our chosen segments
- Conscious consumers
- Socially conscious influencers or opinion leaders
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Early Adoptors
High level Concept
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- GenZ & Millennials (ECOM)
List your sources of revenue
List your fixed and variable cost
List your path to reach the customer
- Millennials who prioritize personal wellness and eco-friendly practices.
- Individuals seeking convenient and personalized shopping experiences.
- Conscious consumers looking for top-quality products that align with their values.
Something that cannot be copied
Shop consciously with our revolutionary e-commerce platform, uniting top-quality wellness and eco-friendly beauty products from trusted brands. Discover personalized recommendations, clear sustainability ratings, and educational resources for conscious purchasing. Experience the future of conscious shopping today.
- Curated selection of diverse ecofriendly products from reputable brands
- Verification processes - for authenticity & sustainability
- Machine learning algorithms & AI tools - personalized product recommendations.
- Educational resources - knowledge & informed decision-making.
- Difficulty in finding high-quality wellness and eco-friendly beauty products across multiple stores or websites.
- Lack of personalized recommendations and difficulty in making informed decisions.
- Uncertainty about the authenticity and sustainability of products.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Dedicated platform that showcases their products to a targeted audience actively seeking sustainable options, increasing brand visibility, credibility, and access to environmentally conscious consumers.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Eco-Friendly Beauty Brands (E-COM)
Digital marketing strategies, influencer collaborations, and industry partnerships and internal sales teams
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
- An e-commerce platform that showcases and promotes eco-friendly beauty brands.
- Verification processes to ensure the authenticity and sustainability
- Marketing and promotional opportunities tailored to the eco-conscious consumer segment.
- Streamlined distribution & order fulfillment processes.
- Difficulty in standing out among competitors
- Finding effective channels to reach the target audience
- Logistics and distribution challenges
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
Convenient access to a wide range of high-quality beauty and wellness products. Personalized consultations and recommendations from beauty experts. Time-saving tips and tutorials for efficient beauty routiness.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Busy Professionals (Retail)
- A retail chain offering a curated selection of high-quality beauty and wellness products tailored to the needs of busy professionals. Personalized consultations and recommendations from beauty experts.
- Difficulty finding time-efficient and personalized beauty and wellness solutions for busy professionals.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Curated beauty and wellness products for content creation.Expert guidance and support for influencers' journey.Streamlined brand collaborations and partnership opportunities.Regular industry trend updates and event access.
- Traditional marketplace
- Brand collaborations
- Networking events and conferences
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Beauty & Wellness Influencer (Retail)
Beauty and wellness influencers seeking curated product options and industry support
- Curated selection of diverse beauty and wellness products for content creation.
- Expert guidance and support for influencers' journey.
- Streamlined processes for brand collaborations and partnerships.
- Regular updates on industry trends and events
- Limited access to a variety of beauty & wellness products for content creation.
- Difficulty finding authentic products to recommend.
- Challenges in building Brand partnerships
- Stay relevantin a competitive influencer landscape.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
How do we make the right channel choices to reach our customers?
- Social Media
- Apps/Platform
- Websites
- Stores/Teams
- Platform/Apps
Watch
Buyer's Journey and Channels
- Websites
- Stores/Customer support
- Platform/Apps
- Websites
- Stores/Customer support
- Platform/Apps
- Websites
- Stores/ Sales team
- Platform/Apps
- Social Media
- Adds
- Websites
- Emails/ Sales teams
- Social Media
Feedback
Distribution
Communication
Decision
Consideration
Awareness
Make a list of the channels you think Aarav and Ria should look at for the segments?
Opportunity
LC Blocks- Channels
Health concious Millennials and Gen XEco Friendly Beauty Brands
E-COM
RETAIL
Busy ProfessionalsThe Wellness and Beauty Influencer- to do
Lean Canvas for our chosen segments
Social media marketing influencer collaborations, (SEO), paid online advertising, email marketing, & partnerships with related businesses.
- Conscious consumers
- Socially conscious influencers or opinion leaders
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Early Adoptors
High level Concept
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- GenZ & X (ECOM)
List your sources of revenue
List your fixed and variable cost
- Millennials who prioritize personal wellness and eco-friendly practices.
- Individuals seeking convenient and personalized shopping experiences.
- Conscious consumers looking for top-quality products that align with their values.
Something that cannot be copied
- E-commerce platform -consolidates various top-quality wellness & eco-friendly beauty products from multiple brands.
- Advanced search options, filtering capabilities, & personalized recommendations
- Clear sustainability ratings & information for each product.
- Educational resources on eco-friendly practices and conscious purchasing decisions.
- Curated selection of diverse ecofriendly products from reputable brands
- Verification processes - for authenticity & sustainability
- Machine learning algorithms & AI tools - personalized product recommendations.
- Educational resources - knowledge & informed decision-making.
- Difficulty in finding high-quality wellness and eco-friendly beauty products across multiple stores or websites.
- Lack of personalized recommendations and difficulty in making informed decisions.
- Uncertainty about the authenticity and sustainability of products.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Dedicated platform that showcases their products to a targeted audience actively seeking sustainable options, increasing brand visibility, credibility, and access to environmentally conscious consumers.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Eco-Friendly Beauty Brands (ECOM)
Digital marketing strategies, influencer collaborations, and industry partnerships and internal sales teams
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
- An e-commerce platform that showcases and promotes eco-friendly beauty brands.
- Verification processes to ensure the authenticity and sustainability
- Marketing and promotional opportunities tailored to the eco-conscious consumer segment.
- Streamlined distribution & order fulfillment processes.
- Difficulty in standing out among competitors
- Finding effective channels to reach the target audience
- Logistics and distribution challenges
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Dedicated platform that showcases their products to a targeted audience actively seeking sustainable options, increasing brand visibility, credibility, and access to environmentally conscious consumers.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Eco-Friendly Beauty Brands (ECOM)
Digital marketing strategies, influencer collaborations, and industry partnerships and internal sales teams
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
- An e-commerce platform that showcases and promotes eco-friendly beauty brands.
- Verification processes to ensure the authenticity and sustainability
- Marketing and promotional opportunities tailored to the eco-conscious consumer segment.
- Streamlined distribution & order fulfillment processes.
- Difficulty in standing out among competitors
- Finding effective channels to reach the target audience
- Logistics and distribution challenges
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Eco-friendly beauty brands that prioritize sustainability, ethical practices, and offer innovative eco-friendly products.
Digital marketing strategies, influencer collaborations, and industry partnerships and internal sales teams
Convenient access to a wide range of high-quality beauty and wellness products. Personalized consultations and recommendations from beauty experts. Time-saving tips and tutorials for efficient beauty routiness.
- Online Marketplaces
- Specialty Stores
- Kiosks and pop-ups
- Subscription boxes
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Busy Professionals (Retail)
- A retail chain offering a curated selection of high-quality beauty and wellness products tailored to the needs of busy professionals. Personalized consultations and recommendations from beauty experts.
- Difficulty finding time-efficient and personalized beauty and wellness solutions for busy professionals.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
Expertise in curating beauty and wellness products for influencers.Proprietary technology or tools for streamlined collaborations.
Curated beauty and wellness products for content creation.Expert guidance and support for influencers' journey.Streamlined brand collaborations and partnership opportunities.Regular industry trend updates and event access.
Physical retail stores strategically located in areas with high footfall. Social media, events and netwiorking, newsletters, email communication
- Traditional marketplace
- Brand collaborations
- Networking events and conferences
04
01
Existing Alternatives
05
08
06
07
09
02
03
Deconstruct your idea with key assumptions
LC- Beauty & Wellness Influencer (Retail)
Beauty and wellness influencers seeking curated product options and industry support
- Curated selection of diverse beauty and wellness products for content creation.
- Expert guidance and support for influencers' journey.
- Streamlined processes for brand collaborations and partnerships.
- Regular updates on industry trends and events
- Limited access to a variety of beauty & wellness products for content creation.
- Difficulty finding authentic products to recommend.
- Challenges in building Brand partnerships
- Stay relevantin a competitive influencer landscape.
REVENUE STREAMS
COST STRUCTURE
CHANNELS
KEY METRICS
CUSTOMER SEGMENTS
UNFAIR ADVANTAGE
UNIQUE VALUE PROPOSITION
SOLUTION
PROBLEM
How Big is the Opportunity?
TAM/SAM/SOM
- Global Beauty and Personal Care Market: According to a report by Grand View Research, the global beauty and personal care products market size was valued at USD 493.34 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
- Organic Personal Care Market Size: The same report estimates the global organic personal care market size at USD 15.98 billion in 2020 and is expected to expand at a CAGR of 8.5% from 2021 to 2028.
- Digitalization and Personalization Trends: As per a report by Meticulous Research, the global e-commerce beauty and personal care market is expected to grow at a CAGR of 17.9% from 2019 to reach $99.84 billion by 2027.