2. “Warranty claims are time consuming and
aggravating for individuals and companies alike.
We offer to take those negatives out of the equation.
We manage warranties, streamline claims and help
build company reputation and happy customer
base along the way. Benefits include savings in
workforce hours, better prioritizing with many
other tangible benefits."
About The Warranty Concierge
3. How We Conducted the Analysis
● Targeted potential segment who purchased items worth
more than $500 in the past year.
● Questions were focused on whether and how they used
their product warranties and if they bought extended
warranties.
● We also gauged their interest in our product by showing
them mockups and explaining the features we plan to
add.
● The research was done through qualitative in-depth
interviews (n=6) and quantitative surveys (n=20). At
both points enhancements were made to the concept.
● For further research insights see interview footage and
summary
4. Market Size Estimate
Based on our research with a varied audience and through a
strict segmentation process we have narrowed our Market
size (in number of potential customers), about 20 - 30
million based on the characteristics below:
○ American female 30 - 45 years old
○ Household income above $75,000
○ With family or looking to have family
○ Uses a smartphone
Based on a $0.99 application fee plus additional advertising
and product manufacturer revenue, a conservative estimate
is $30M in the US market
5. Survey Results
Customers who purchased an item above $500:
○ 100% offered additional warranty at time of sale
○ 58% declined to buy the additional warranty
○ 65% kept their basic manufacturer warranty on
file at home while 35% can't locate it
○ 57% would use an app to track and manage their
warranties provided that it is simple, easy to use
and accessible from any device
6. What We Have Learnt (Mkt
testing)
○ Additional warranty is often overpriced and not
easy to track and manage
○ Simplicity and ease of use are crucial for the
success of the product
○ Ability to add warranties by taking a photo with
the smartphone
○ Make available extended warranty discounts and
offers based on customer loyalty to the
manufacturer or warranty provider
