Home Appliance AlertsProduct Description & Market SizeProduct DevelopmentCustomer Development ExperimentsConclusions
Smart Shopper – Home Appliance Alert Product DescriptionFor Canadian shoppers looking for home applianceswho dont have time to read newspaper flyers every week,the "Home Appliance Alert" service is an online servicethat reviews weekly flyers from local stores andsends you information about appliance sales and promotions.It saves you time!It saves you money!It removes the hassle of watching out for home appliance deals!Let the “Home Appliance Alert” service start working for you today!
Smart Shopper – Home Appliance Alert OAP Business Idea Target Location: Canada Demographics: Males and Females, 20-34 Target Population: 6.3 Million (Statistics Canada) Estimated target population looking for appliances: 315,000 (5% of total population) Estimated customers: 15,750 (5% of appliance shoppers aged 20-34 in Canada) Pricing of service: $5 for 3 month subscription Target Revenue = $5 x 4 (quarters in a year) x 1,000 (customers) = $315,000 annual salesOAP Results: 6 out of 16 people would pay $5 or more for a home appliance flyer alert service
Smart Shopper – Home Appliance Alert Product DevelopmentBuilt standalone WordPress website (see following screenshots)
Smart Shopper – Home Appliance AlertCustomer Development ExperimentsChannels: Survey Monkey, Kijiji, Craigs List, UsedOttawa.com a) Survey Monkey: Home Appliance Shopping Experience http://www.surveymonkey.com/s/YHV8Z3B - 9 Responses - 78% Planned purchases [value proposition support] - 22% Used weekly flyers [weak value proposition support] - 88.9% Believe price is imporant [value proposition support] - Gained better understanding of home appliance purchase behaviour b) Online Classified ads: Kijiji, Craigs List, UsedOttawa.com - 57 Views - 0 Responses
Smart Shopper – Home Appliance Alert Conclusions: Do Not Proceed!1) Value Proposition - Survey evidence of support, but more proof required2) Customers - No customers yet; continue customer development experiments3) Channels - Web Channels working, but need to move in-person engagement4) Key Resources: - Team started at four and ended up with two active; Must revisit - Strong working relationship is developing (Canada & Australia)“Get Out Of The Building!” - More Experiments!
Smart Shopper – Home Appliance Alert Backup – Survey Questions (9 Responses)1. Why did you purchase your last home appliance? 16.7% Moved into new home 33.3% Replaced last appliance because it broke 0% Replaced last appliance because it was not energy efficient 50% Replaced last appliance because it was too old Other (please specify) 1)Kitchen Renovations, 2) Needed extra one, 3) Did not have one2. Was your last home appliance purchase a planned event or was it an emergency replacement? 77.8% Planned 22.2% Emergency Replacement3. What research did you do before purchasing your last home appliance? 11.1% Read Consumer Reports 0% Friends & Family 33.3% Online search (e.g. Google) 55.6% Visited local stores and talked to sales people 22.2% Looked at weekly flyers 0% Used Government Resources (eg. Energuide Canada) 11.1% None, did not do any research Other (please specify)
Smart Shopper – Home Appliance AlertBackup – Survey Questions/Results4. If you researched your purchase online, where do you get your information?40% Google 0% YouTube0% Bing 60% Retailer Website0% Yahoo 40% Manufacturer Website0% Facebook 20% Shopping Deals Website0% Twitter Other (please specify)0% Blogs consumersearch.com0% Kijiji5. What factors do you feel are most important for your home appliance purchase?88.9% Price11.1% Financing22.2% Clearance and/or Special Deals44.4% Physical Size (i.e. fits into existing space)55.6% Brand66.7% Quality77.8% Product Features11.1% Product/Retailer Warranties44.4% Delivery, Installation & Disposal Costs Other (please specify)
Smart Shopper – Home Appliance Alert Backup – Survey Questions/Results6. Did you need help from others to support your last home appliance purchase? 55.6% Yes, for delivery 55.6% Yes, for installation 66.7% Yes, for disposal of old appliance 22.2% No7. If yes in previous question, who helped you? 12.5% Unpaid, Friends and Family 12.5% Unpaid, Retailer 75% Paid, Retailer 0% Paid, Third party service person (e.g. moving/disposal comapny, plumber, electrician, etc.) 0% Other (please specify)8. For Canadian home appliance shoppers, from which retailers would you consider purchasing a home appliance? 50% Future Shop 25% Local Home Appliance Store 50% Home Depot 33% Other (please specify) 0% Leons Corbeil (local Ottawa retailer) 0% Lowes 62.5% Sears 12.5% The Brick 12.5% Not Applicable
Smart Shopper – Home Appliance Alert Backup – Survey Questions/Results9. Do you need a home appliance now or will you need one in the next three months? 0% Yes 100% No10. If yes in the previous question, are you interested in paying $5 to receive assistance on your purchase? 14.3% Yes - Please send an email to email@example.com 28.6% No 57.1% Not Applicable
Smart Shopper – Home Appliance Alert Backup – Classified AdsHome Appliance Shopping ServiceAre you tired of searching Kijiji and flyers looking for the best deal on your new home appliance?If yes, I can help. Id love to save you time and money by becoming your personal home applianceshopping assistant.The cost is only a small fee of $4.99. I promise to give you your money back if youre not satisfiedwith my service.Let me help you find the right appliance at the right price. Please contact me to get started todayKijiji Views = 38UsedOttawa.com Views = 19Craigs List = ?? (no on-site tracking metrics)Total Responses =0